How do you play the Virtual Stock Exchange game???

Question

I need someone to please break it down for me and also tell me what stocks are good for me to buy?

Answer 1

The virtual stock exchange games are convenient ways to check out investment ideas. I use them (I'm not rabbit there, so don't pester anyone with that handle there) to kick around ideas. I had one game that I played, just for fun, all the free stock tips that a couple of newsletters hyped. In researching the companies (VSE gives news and charts and some pretty fair information on the companies and their industry peers), there have been a few that I actually decided to put some money in (most were disasterous, but a couple turned out).

Here's an idea for you. It is a fairly common approach, nothing really fancy, but it takes some patience. Use the research link and then check out the industry analyzer lists. It will give you the top ten fastest growing industries (as for stock prices) and the bottom ten, the losers. Notice which ones move up or down over time: for instance coal had been tops for a while, then tires overtook it, but now general mining and heavy construction are over them. So when something starts sliding down, leave it alone, but get interested in the ones that move up. Remember, though, just because it gets on the top ten, that doesn't mean that it will march to the top, you could be merely seeing a temporary spurt before it drops back down. Anyrate, click on the industry, then take a look at the stocks there. You might notice something that seems like it is really shooting up, like FWLT (Foster Wheeler). It is expensive, but it is also immensely profitable, so you might want a piece of that for your practice portfolio. Things that go up can and often certainly do go down--notice that FWLT hasn't had a lot of downs lately, so watch it.

I had a company this year that I put real money into after sifting through lists. It gave me some very comfortable gains, then suddenly dropped at the start of trading, wiping out four months of steady gains. If some really bad news comes out of Iraq (I think FWLT is a construction contractor there), then you might want to dump that company as quick as you can. It too can fall, even faster than it rose. But that is part of the game, you won't lose your house or your IRA or whatever when picking stocks for the VSE games. But you gain some experience at what it takes, or appears to take, in order to make you comfortable when you want to put real money into something or some pattern of action you might notice. Have fun. Good luck.

Answer 2

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Answer 3

Go to investopedia.com and set up open a simulated portfolio. As for what stocks to consider, watch Jim Cramer's Mad Money on CNBC at 6:00pm eastern. Jim is nutty and it might take a while for you to get used to his antics but the guy knows his stuff and makes it easy for beginners to learn. Also get his book "Mad Money". It teaches you how to use what you hear on his show and put it to work.