Fantasy Stock Trading
What is Fantasy Stock Trading?
Fantasy stock trading is a powerful mechanism to learn trading without risking actual money. Users can visit online fantasy stock trading sites, create accounts, and experiment with trading without placing actual money at risk. The first step a new trader is required to do is apply for an account and login. This constitutes their profile and will facilitate keeping track of their account as well as participating in online forums. One of the benefits of fantasy stock trading is being able to participate in online forums and communicate with other traders about trading concepts. The online portals that provide these capabilities vary in type but the two foremost fantasy stock trading online businesses I have discovered are UMOO and Wall Street Survivor. Links to my complete reviews of each website can be seen below:
Learn to Trade
If you have never been a trader, fantasy stock trading is a terrific way to learn. Whether experimenting with UMOO or Wall Street Survivor each will let you design a portfolio and manage it online from any internet connection. Each lets you try out a variety of instruments and various types of orders. The portfolio will move in value depending on the stocks you have purchased and the results in the market. Both UMOO and Wall Street Survivor use authentic market data to tabulate your portfolio value.
Trade a New Instrument
The majority of traders start their skills by trading stocks. In time they see that some traders are not trading stocks but other tradable symbols such as commodities or forex. Some trade bonds and others trade ETFs including leveraged ETFs and inverse ETFs. Options can be bought or sold on stocks, currencies, and commodities too. Traders knowledgeable in one instrument might want to try trading an alternative ticker but with virtual money first. They recognize that every market is unique and has its own specific characteristics. Fantasy stock trading means enjoying the freedom to try a variety of markets without risking real cash.
Publish for Public Consumption
If you are a daily trader and often wanted to share your performance with friends or publish for a blog, fantasy stock trading is good for that as well. On Wall Street Survivor you can make your portfolio public and follow other portfolios as well. In contests on UMOO partcipants can see other traders in the contests and view how their portfolio is performing.
Win Prizes
Each fantasy stock trading online business has challenges where traders can win gift cards and other prizes. Although investing is a business and should be managed like one, a contest utilizing market data is often entertaining. UMOO is focused on contests such as UpDown and Pix where the match has a brief time period and a fixed outcome. These contests are not only fun but an opportunity to put to work your trading know-how for fun.
If you would like to try fantasy stock trading and want more details on UMOO and Wall Street Survivor click the links below.
Fantasy Stock Trading with UMOO
Filed under Stock Market by on Mar 31st, 2010. 
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