Stock Trading Practice

I will not get into strategies of trading stocks nor the different types of trading options. This "how to" will strictly show you a means to trading on the stock market with monopoly money to get your feet wet. What better way to practice, without a financial Risk :)

Step 1 Gain a little knowledge on trading, yahoo finance is a good free tool. You can look up quotes even add your personal portfolios if you have any.

Step 2 Go to http://www.virtualstockexchange.com there are others but this one works for me and is 100% free it also has info so you can research a stock or read news on companies.

Step 3 Set up a user name and log on

Step 4 Join a game or create your own. This is cool because you can trade with friends and see who can come out on top.

Step 5 Make your first trade by entering in the symbol of the stock, enter number of shares, and submit.

Step 6 Keep an eye on your portfolio(s) and manage profits and losses and you can move up in the ranks.

Step 7 Your comfort level will increase and after while you may see that you are trading like a day trader (minus the 30 minute time delay which is a huge negative. Real time is always the best case scenario but after practicing you may want to move into the market in real life or alter your current portfolio.

**There is a Risk to any investing including investing in the stock market. You are getting your feet wet with fake money using real stocks and quotes, but keep in mind just because you do well in this environment does not guarantee success with real money.  I highly recommend you get advice from a professional before jumping in, buy books about trading strategies, and/or take a class/seminar on trading.