Virtual Stock Exchange - Practice Before Trading Real Money
It is recommended to join some of the Virtual Stock Exchange games and test your trading skills before you start trading with real money.
The usage of virtual stock markets for newbie's to practice and master new skills and for families and friends to play versus each other has been expanding rapidly. In case you are unfamiliar with this, it is undoubtedly worth exploring. At VirtualStockExchange.com, which is a Free stock market game provided to you by MarketWatch.com, you can join any publicly open game or you can create your own public or private game, allowing you to compete against the world or a group of friends. If you join one of the available games, you have to respect the rules determined for that game. If you start your own game, you have the ability to setup your own rules. Whatever you choose, it is all FREE.
Virtual Stocks Exchange Basic Rules
When setting up your personal game at VirtualStockExchange.com, the first thing to choose is the short name of the game, also called game ID. It should be between 6 and 20 characters long and without spaces. A formal name of the game can have up to 50 characters, including spaces. The name of the game is seen in the left side of any page to identify the game to the players. When you will be inviting your friends to join the game, you will have to provide them the game ID so that they will be able to locate the game.
The next thing you define is weather you would like the game to be public or private. If you make it private, the visitor will need a password to join the game. Further you have the possibility to define the timeframe of the game.
Next, you should write a commentary of the game, which is seen by visitors and might include up to 1,000 characters. You might for example provide prize information here, or contact information (btw, no HTML tags are allowed). You can change this message anytime.
You also define the starting balance of each player, a starting cash value. By default it is set to $100,000. And the last thing among basic settings is to define weather to display player's real names in rankings list and if players should have the ability to reset portfolio once started and if they can join the game anytime till the game ends.
Virtual Stocks Exchange Advanced Settings
Among advanced settings you have the options to allow or not short selling, trading on margin, limit and stop-loss orders, set trading volume limitations, set default brokerage commission, set credit interest rate (default is 4%) and also debit interest rate for trading on leverage (default is 6%).
Before Your First Virtual Trade
Once you set up your own or join any available virtual trading games, you can post your first trade. Read about the rules of the game and also get familiar with the rules of the stock exchange you intend to trade and general trading rules as well. It is also recommended you check the latest news and do the research of the stock. All necessary information is available within the virtual stock exchange website.
Conclusion
Once you will make a few trades, you will probably start enjoying the game full size. There is a live list of top ranked players available to you, so you will know exactly where you stand in each and every moment. You can of course join any other game as well, where a new portfolio will be established, as you might expect.
Join the best online trading site for beginners virtual stock exchange game.
The Game ID you should apply to is: StocksForBeginners
Written by: Goran Dolenc
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