With everything on planet Earth going digital nowadays, the stock market isn’t far behind. You can trade online through a convenient stock market app, and as tempting as it is to start trading, it is just as risky. So, how do you beat the complicated setup of the market in order to make some profit? Afterall, you don’t want to risk putting your hard-earned savings into stocks, only to lose. What is the solution? You need some practice and experience before you enter the real world of trading.
Before you enter the lion’s den of the stock market, there are stock market games to practice trading on simulated ‘fake’ trading platforms. In these trading games, you can practice using virtual money. Furthermore, you may add a range of simulated asset classes like commodities, shares and mutual funds, creating a portfolio for training in how to handle these in real life. Price fluctuations in games will take place, just as they do in a realistic situation, and these will affect your made up portfolio. The great part of how you get motivated to learn more about trading is that your performance is displayed against your peers, and this compels you to do well and ‘win’ in trading games. Learning about online share trading, thus, can be a fun-filled experience, and one in which you learn a lot.
Learning how to trade online is simple if you can practice before entering the trading world. Not only do virtual games give you practice, they instil confidence. Here are some online games to get your trading act together:
Investopedia Simulator - A stock trading simulator like this one can show you how to trade in different asset classes and lays out trading challenges to test decision-making skills. It also enables you to invest virtually in Options, which other game platforms don’t offer, and you can compete with friends and peers to find out who has made the best trades.
Wall Street Survivor Game - A cartoon of the ultimate trading coach, Mark Brookshire, helps you make trading decisions with a virtual amount of $1,00,000 to invest.
The Chart Mantra Game - Developed by the Economic Times, you learn about technical analysis as applied to stock markets. One of the unique trading games that plots the effectiveness of your buy and sell decisions, this game ranks you with other players.
NSE Paathshala Game - This game has been developed by the National Stock Exchange of India (NSE). It teaches you how to use different tools on the NSE platform in the disguise of a game.
While you may be excited to foray into trading, it's wise to gain some knowledge first. Games can help you immensely. However, you can also gain from the invaluable experience of a reputed stock trading platform like Motilal Oswal, offering you training videos and blogs to facilitate your trading path.
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