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Sunday 17 June 2018

Website for virtual trading (learning purpose only)

Stock market investment is becoming very fancy day by day. Some people come here for quick money with trading. Most of them leave the market with burnt hand within a year. The people left in the game try to learn from their trades. This learning process never stops in financial market. It keeps changing and become more challenging day by day.  For newcomer it is suggested to learn first about the trading and risk associated then come to trading. For better experience, start with paper trade or Virtual trading app.  As the name suggests, virtual trading allows to trade on real markets but only using virtual money. It’s a good way to boost your confidence before entering the market with real money. The best thing about these virtual trading platforms is the fact that they are free of cost, so you won’t lose a single penny even if your strategy fails. And surprisingly, some of these offer rewards too if you consistently perform in your trading.There are many platforms providing virtual stock trading, but some of the sites, which are highly recommended, are as follows:

  • MoneybhaiIt is a free virtual trading game for Indian stock market. You will have the option to invest in stocks, bonds, fixed deposits and mutual funds. On this platform, you can create a league game with friends and also interact with them as well as other users. 

  • NSE Paathshala: It is also a nice dummy platform to learn trading in National Stock Exchange. It is an initiative of National Stock Exchange of India (NSE) to educate the investors through virtual trading. It has been discontinued for now but will be back soon.
  • Dalal Street Stock Market ChallengeBombay stock exchange (BSE) in collaboration with Dalal Street investment Journal provides this virtual platform to learn to trade in stock market. The Stock market focuses on three types of audience – serious traders, youngsters and those who have lost confidence in the stock market. It has several levels and in each level the difficulty level keeps on increasing. There will be a demo to teach you how to play and also a game master to answer your queries.
  • Trakinvest: The member can create chance to get real jobs or internships by showing their trading skills through this platform. The platform provides tools such as news, Twitter feeds, stock related financial information to analyzing and making decision. You can also track the movements of the best performers and your friends.
  • MarketWatch: Market Watch is a financial website by Dow & Jones Co. providing virtual trading platform in stocks with real time market data. You have the option to create your own game or you can join a game that others have created.
  • Wall Street Survivor: WSS allows you to virtually trade, create and manage your dream portfolio while competing against your friends and other users. You can also learn fundamentals of the trading stocks, bonds, futures, currencies through comprehensive lesson and blogs. You may have an opportunity to earn up to $300 through leagues conducted by them.
  • Investfly: It also a good online trading platform where you can learn and manage your virtual portfolio of stocks and can build your own automated trading strategies. It provides trading tools to the users and conducts monthly trading contests.

But please do remember that there is lot of difference between paper/vertula trading and real trading, as in paper trading you have nothing to lose.  You may not get emotionally attached with it because you are not losing anything in any case, which does not happen in real trade. In real trading, there are psychological emotions involved and plays a very important role which needs to be controlled for long term success.

Hope this helps!….


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