Online trading has always been popular but has become all the rage recently. More people are getting involved with trading in many ways because they start with cryptos and then want to try their hand where stocks and shares are concerned. However, there will be an element of learning required, and believe it or not, games can help.
There’s a famous saying by Benjamin Franklin – “Tell me, and I forget. Teach me, and I remember. Involve me, and I learn.” And this is precisely the thinking behind using games as a learning tool when it comes to trading. Yes, there are thousands of articles out there and equally as many YouTube videos. But do they compare to playing games that replicate trading online?
Reading articles and information, and watching videos, are sure-fire ways to help you learn how indices trading works, for example. But, their capabilities will only take you so far. Instead, by doing, you are gaining real-life experience. And, in the case of trading games, you’re gaining said experience, but without the risk of losing money.
What you can do on your path of learning how to trade is read helpful materials and watch useful videos. Then use both as a foundation to take into playing trading games. You will then have the knowledge you can use when you’re confronted by events such as market swings and natural volatility.
If you’re ready to begin putting your knowledge to the test in a virtual market setting, we have some recommendations on games that are worth considering.
MarketWatch Virtual Stock Exchange
We begin our list of recommendations with MarketWatch Virtual Stock Exchange because it’s one of the most popular and credible stock trading games around. There are multiple scenarios for a player to choose from, and all company prices in the game mirror real-life, which is significant. Users can also put together an online portfolio, compete with others, and see the outcomes if real cash was in play.
HowTheMarketWorks Stock Market Game
The HowTheMarketWorks Game does everything it can to mimic real-life trading. Users begin with a budget of $100,000 and can then press ahead with putting their trading strategies into play as they buy and sell stocks on the market. The fact that this game is used in high school and university classes tells you it’s one of the most credible options if you want to learn how to trade by playing virtually.
Wall Street Survivor
Wall Street Survivor is slightly different to the other two games we have listed so far. It goes down the educational route more and will provide loads of advice, tips and resources along the way. If you use all the information Wall Street Survivor provides and put it to work with your virtual $100,000 budget. You should be able to develop valuable techniques that you can take into real-world trading when the time is right.