Joining a school to learn how to trade can be impossible for many. First off, many people do not have enough time to commute to a school every day and sit in for a class. So why not do online classes? The problem with online classes is that they can be tedious and may encourage the learner to miss classes or not pay attention during the lesson. The best way to learn how to trade and invest is to play a game, thus the following list of the best stock games.
Gaming keeps the learner’s attention for longer than a regular teacher or lecturer would. In addition, the visualized learning process has been noted to improve the grasping ability of any student, making it easier to understand any concept. Stock games are digitized trading platforms where you can participate in virtual investing. As long as you have the internet, you can access a game from any secure network and location. The only problem with most stock games is that they often focus on stock trading. Stock market games encourage traders to focus on quick profits from trading stocks. In our opinion, stock games would better serve any investor by learning the slow and steady art of long-term investing. A successful long-term investment is more concerned with picking the right combination of stocks instead of picking the right stock for a quick fix. Choosing the right asset allocation and investment portfolio mix will set an investor up for many years of profits. Here are five games that will help improve your trading performance.
1. ScotttradeELITE
This platform allows users to place mock trades, access research tools, and test trading strategies. To access the software, all you have to do is install it.
2. Wall Street Survivor
Forbes has recommended this platform because of its comprehensive approach to teaching; included in the game are the basics of personal finance, trading stocks, futures, bonds, mutual funds, options, and currencies. You gain access to an entire library of resources, including courses, videos, and virtual leagues.
3. TD Bank Woe! Zone
TD Bank Woe! Zone is the perfect game to introduce your kids to because it is suitable for kids and young adults. There is no better way to start your kids off to a bright financial future. Each player starts with $100,000 play money. And can trade on any of the U.S stock exchanges. Don’t worry if your child is not from the US, as the basics are still the same.
4. Build Your STAX
Are you looking for twenty years of investment knowledge in a half-hour game? Build your STAX is just the game for you. You start with a modest account as you naturally would in reality and grow your wealth over the years.
5. How the Market Works
How The Market Works is well designed for investor education. The application features build in research tools that make the game even more enjoyable. Although the application is designed for teachers and investment clubs, you can join for free and start building your knowledge.
Conclusion
If you are not sure which one you prefer between trading and investing. Investing is a more long-term game than trading, so if you easily get bored and love a high-pressure working environment, you should get into trading. On the other hand, if you like playing the long game, the investment industry is the place for you.