Last week, Aishwarya Deep Shukla’s investments in State Bank of India dropped by 16.87%; the fall was on account of below-expectation fourth quarter results. But the loss didn’t perturb Shukla, because he didn’t really lose any money. The 22-year-old student of finance regularly invests in the stock market, but only virtually.
Shukla, who is currently doing his MBA in finance, is hooked to stock market simulation games.
What are these
These are computerized games available on the Internet that enable real-life experience of buying and selling equity shares on the stock markets. The process is such that you would feel you were really trading in stocks.
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The computer allots you money—virtual money reflected on your computer screen and not currency notes you can touch and feel. With this virtual money, you buy and sell virtual stocks and create your own portfolio. The stocks are priced at real market prices, but the feed is usually delayed by 5-10 minutes so that the information available on the portal cannot be used by people for actual trading.
Getting started: All you need to do is register with one of the many portals that offer these services and create a unique username and password, the way you do when opening an email account. Once registered, the game allots you virtual money to start trading.
Getting rewarded: Some of these simulation games offer incentives to those who do well. For instance, Stock Market Challenge, developed by Dalal Street Investment Journal (DSIJ) in association with Bombay Stock Exchange (BSE), offers daily, weekly, monthly and quarterly prizes to those whose portfolios see maximum appreciation. While monthly prizes include some goodies and a holiday package, the quarterly prize can win you a home theatre system.
Rediffmail India Ltd’s Marketwiz, too, offers members a chance to win prizes from time to time. “Of course, winning prizes is a motivational factor,” says Mahesh B., a Mumbai-based businessman. Mahesh simulates in Stock Market Challenge. He won the monthly prize after his portfolio appreciated 200% in January. He plans to utilize the holiday package he won during Diwali to go on a family holiday to Lonavala.
Source:- http://www.livemint.com/2011/06/02202742/A-playground-for-honing-financ.html
Thanks & Regards,
Ankit Wani
Summer Intern @ DENIP Consultants PVT LTD.
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