Learning Virtual Trading Game Indian Stock Market
Paper trading or virtual stock trading is a simulated trading process in which would-be investors can practice investing without committing real money. This is done by the manipulation of imaginary money and investment positions that behave in a manner similar to the real markets.
Virtual tradeshows facilitate direct interactions between exhibitors and attendees with interactive features such as live chat, chat rooms, 1 to 1 or group video calls, Q&A, Live webinars or on-demand webinars, webcasts, lucky draws and more.
A stock market simulator is a game like an approach for trading, where one trades using virtual money on real stocks. It helps one have a feel of how the real stock market operates and the profitability of one's trading strategy. It is a platform that provides virtual trading facilities.
When one registers in these stock simulators, they get virtual money (Say Rs 10 lakhs or 1 Crore) in their account. One can use this money to practice trading.
Stock simulators provide real-time stock data, which means that one can try out different strategies of trading in stocks just like the real world stock market, but risk-free.
It helps one ascertain a realistic idea about buying, selling, and other mechanics of the stock market. It helps one practice and improves its trading strategy without losing money. It brushes the required skills and helps one gain valuable skills.
The virtual stock trading game works in the following way:
- Open a free account (using your email-id) on a simulating platform (discussed below).
- Get instant virtual money in your account.
- Sta rt buying/selling stocks like real trading scenarios.
- Monitor your portfolio and track profit/loss.
- Tr y different strategies and learn the trading basics.
- When you get enough confidence and experience- move to real trading.
Best sites to learn virtual stock trading in India is:
Moneybhai: Moneycontrol website offers Moneybhai. It is a free virtual trading platform where one gets Rs 1 crore virtual cash on registration which one can use to invest in shares, commodities, mutual funds, or fixed deposits on the platform At Moneybhai, one can also compete with fellow Indian traders by joining different leagues. There’s also a free forum on this website where one can ask their queries or participate in the on-going discussion threads.
Traklnvest: It is a global trading platform that helps one learn, develop and improve their investing skills. Currently, it provides a curated market data and news from 10 exchanges. It also offers beginners’ guides and videos, certification courses designed by industry experts and simulations for competing for rewards.At TrakInvest, one can also track other traders and dig deeper into their trading activity (portfolio) where one can replicate their trades using the ‘Copy Trade’ facility. Overall, TrakInvest provides a simple and friendly platform for ‘Social’ virtual trading for beginners.
Dalal Street: Dalal Street Investment Journal (DSIJ) popular virtual stock trading platform in India which helps one understand the different trading nuances and to test one's nvestment strategies. On registration, one will get virtual cash of Rs 1,000,0000 to create their portfolio. At DSIJ, one can also discuss strategies with like-minded participants in the discussion group.
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