Stock Market Simulator
When you are learning to trade, it is advised not to put your money in market in the beginning itself, but rather, paper trade for sometime. This is good idea. Always. It saves you a lot of money in the long run.
A stock market simulator is a game like approach for trading, where you trade using virtual money on real stocks. It is a step up from maintaining the paper journal or excel journal that are not able to maintain with required details. A simulator helps you to have a feel of how the real stock market behaves and the profitability of your trading strategy.
Here are the few benefits of these simulators games for learning and practicing trading:
- You get realistic idea about buying, selling and other mechanics of the stock market.
- You don’t need to maintain the trading journal to calculate your profit or loss of paper trading.
- It helps you to practice & improve your trading strategy without losing money.
When used along with reading about trading strategies, these stock market simulators help in gaining the required experience and developing the necessary skills.
To deal with volatility and uncertainty of stock market, you need a well tested trading strategy. This is basic requirement to make money from trading in stock market.
In this article, you will find the list of popular stock market simulation games which you can use to develop yourself as trader.
This is by large the most popular virtual trading game for Indian market. Run by moneycontrol.com, the biggest site on market news, the game is let’s you trade in stocks, mutual funds, fixed deposits and bonds.
You can invite your fellow traders, interact with other players and can participate in trading competition league. By large features of this game are good enough to train you well as stock trader.
This game is joint effort creation of Bombay Stock Exchange and Dalal Street Investment Journal. And it shows. This is real time stock market game. As with moneybhai, you can create virtual portfolio in this game.
Along with that, you can test out different strategies of trading the market. You can share your thoughts with other traders, on the platform itself.
As trading involves real money from day one, it is good idea to learn and practice trading much before you put your money in stock market for trading.
Playing in stock market simulator games, help you to understand how it works in real trading. You get to know the profitability of your trading strategy with real prices of the stock market. On top of that, there are many important things like managing your trades, stop losses etc. that you only learn when you apply them in the market.
‘The more you sweat in training, the less you bleed in combat.”