Best brokers stock market game
Become familiarized with the layout and to take advantage of the free trading tools and research offered to clients only. Some brokers offer virtual trading which is beneficial because you can trade with play money see 9 below.
A great tool for comparing online brokers can be found at StockBrokers. Read books Books provide a wealth of information and are inexpensive compared to the costs of classes, seminars, and educational DVDs sold across the web.
Here on the site we have a full list of 20 great stock trading books for investors to consider. Read articles Articles are a fantastic resource for education. Our free Stock Education page here on StockTrader. Recommended websites for investment education are investopedia. Find a mentor A mentor could be a family member, a friend, a past or current professor, co-worker, or any individual that has a fundamental understanding of the stock market.
A good mentor is willing to answer questions, provide help, recommend useful resources, and keep spirits up when the market gets tough. All successful investors of the past and present have had mentors during their early days. Forums can be another source for question and answer. Two recommendations include Elite Trader and Trade2Win.
Just be careful of who you listen to. The vast majority of participants are not professional traders, let alone profitable traders. Heed advice from forums with a heavy dose of salt and do not, under any circumstance, follow trade recommendations. Study the greats Learning about the greatest investors of years past will provide perspective, inspiration, and appreciation for the game which is the stock market.
One of my favorite book series is the Market Wizards by Jack Schwager. Acorns is the perfect app for anyone who's just getting into the investment-sphere. It's all about micro investing, wherein you invest spare change from the various purchases you make. If you're buying coffee in the morning or a newspaper, just round up to the next dollar and invest that little bit.
You can invest more at any time or set up recurring investments, and it'll all be distributed among your diversified portfolio. If you want to get your feet wet in the investment world without having to fork over tons of money, this is the way to do it. The stock market is no game, but this iPhone and iPad can help you learn everything there is to know about day trading, using real stocks in real time.
You'll be able to try out different trading strategies and track stocks without having to use real money. It's the perfect simulator for newbies and seasoned traders. If you think a move is risky, try it out before going through with the real thing. There's also an integrated news reader, so you can keep current on all the market happenings.
SigFig is a full-featured investment tracking app that helps you manage your portfolio, while offering free analysis to help you create a personalized investment strategy. You must have your selections picked before the week starts on Monday.
The shares that you select are "purchased" at Monday's open and will "sell" automatically at Friday's close. The catch is that all players can only use the 15 to 20 symbols selected for each week. The companies are selected by the game owner for companies that are projecting their earnings during each week. Lining up picks is easy — players simply drag the company's logo to their trading card and designate if they want to sell short or go long. Although there are some pros playing, this game is especially manageable for beginners due to the limited stock options for each week.
Like Young Money's game, UpDown has helpful icons that explain key terms for beginners. More comprehensive resources in the education center mercifully cover even the most basic of investing concepts. Community features, like the opportunity to collaborate with a group and to see the most-bought and most-sold stocks, are also helpful for beginners.
The "watch list" tool provides a convenient dashboard for monitoring potential picks. UpDown sponsors a monthly contest that rewards players who beat the market with real cash. Image courtesy of iStockphoto , H-Gall. We're using cookies to improve your experience. Click Here to find out more.