Beginner’s guide to play stock market games

Congratulations – you have made an important decision! You have decided to play stock market games and immerse yourself in the world of stocks. After all, there exist many benefits to playing stock market games, so go ahead and give yourself a nice pat on the back – you deserve it!

 

But, it would be helpful to have a guide to play stock market games, wouldn’t it? Imagine ordering a super complicated item from Amazon which requires assembly, but when it arrives, there is no user guide – wouldn’t you feel confused and overwhelmed? Similarly, one should not start playing stock market games without going through a beginner’s guide.

 

Luckily for you, you have stumbled upon the beginner’s guide. 

 

So let’s get right to it!

 

 

Step 1: Do a bit of research

So technically, you would do this before ordering that item from Amazon, but you get the point! If you are seriously considering playing trade games, you want to do some basic research. Here, Google is your friend.

 

Here is a handy checklist to go through before actually downloading and playing the game.

 

 

• • How are the reviews?

     

    • • You want to make sure that the game you are playing is something well-rated by others. A good way to do this is by visiting the website, or by checking Google Play reviews. Ensure that the reviews seem genuine and authentic. 
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• • Does the game involve real money?

     

    • • Games like TradingLeagues involve both free and paid games, but not all stock market games involve real money. If you’re looking for real money games, ensure that the game you’re reviewing involves real money. 
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• • Does the game teach you something worthwhile?

     

    • • While stock market games can certainly be fun, there should be a learning / skills-based component as well. You want to play a game where, over time, you can enhance your skills.
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Step 2: Download the application / Game

Now to the easiest step – go ahead and download the game (if it’s available on the Google Playstore/ App store), install, and access the game. If there are onboarding screens / videos, don’t skip over them since oftentimes, they provide key information on how to easily get started. 

 

Step 3: Understand how to play the stock market game

The third step is basically learning how to play the game. Since you are going to play a stock market game, chances are, it will be a simulated market environment wherein you are not physically buying and selling securities. There may also be multiple games, or game formats, available. 

 

Some differentiating elements of games include:

 

• • – Free and paid games

• • – Games involving one stock, two stocks, or multiple stocks

• • – Games involving equities, derivatives, or even cryptocurrencies (or other asset classes!)

• • – Games involving international stocks

• • – Games involving charting

• • – Games involving human opponents vs games involving a “bot” opponent 
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You want to genuinely be curious and inquisitive while going through this step. Just like other video games, you want to be patient with yourself so that you can figure things out, even if you get “stuck”. 

Step 4: Experiment in a low stakes environment

One of the major benefits of stock market games is that you don’t need to worry about funding a brokerage account and operating from a “high stakes” environment. Instead, you can think of the stock market game as a “low stakes” environment where there isn’t much to lose! 

 

You can start with free games, and then gradually graduate to low entry fees once you are familiar with how the game works. You can also think about allocating a fixed amount of time per day towards the game – say, 15 minutes per day. Keep track of the games you play, and how you fare. 

 

Do you feel like your skill is improving? Are you getting more and more comfortable with the game? If this is your first introduction to the stock markets, are you getting familiarized with the nuances of this new world? If so, you may be ready for the last step!

 

Step 5: Gradually increase the time spent

When you feel like you are ready, you can gradually increase the time spent playing the stock market game, and you can think about potentially increasing the entry fees. It’s always important to know, in advance, the answers to the following two questions:

 

 

• • – How much time are you looking to spend playing the stock market game

• • – How much are you willing to spend (assuming you are not playing free games) in the      
  •   form of entry fees
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And accordingly, you can pick the right game formats. For example, on TradingLeagues, game durations can be as short as 10 minutes. You want to pick the right game format which suits your needs. 

 

The bottom line

Playing stock market games can be incredibly fun, but like everything else in life, you want to go through the process in a step-by-step manner. If you are able to follow the steps listed in this beginner’s guide, you will be in a better position to succeed. Don’t skip over the baby steps – reading up on reviews, spending time to understand the rules of the game, and starting small may seem like redundant steps, but in the long run, you will be glad you took the patient, step-by-step approach.

 

Slow and steady always wins the race!