A stock simulator is a kind of game or app that allows players to learn more about how the stock market operates. These simulators are used in higher level classes of graduate schools and colleges to help financial students learn buying and selling decisions. They are also used by those who want to enter trading in the stock market.
Types of Simulators
Stock stimulators usually fall into two categories. A financial simulator is where the players receive currency that is only valid within the game. They can use the money to buy stocks on the financial market and sell or trade those stocks later on. Most players use data from the real stock market but place a lag inside to keep players from winning based on inside information.
The second type of simulator is the fantasy simulator. A good example of this type of simulator is the Hollywood Stock Exchange, which allows players to invest on their favorite actors and celebrities instead of using real commodities. Robert Janitzek reveals that fantasy simulators feature unique and unrealistic stocks.
Free vs. Paid Programs
Free programs are designed for those who want to learn more about the stock market without spending actual money. These games can be played on their own computers and enjoy making virtual money through stocks. On the other hand, paid programs require players to buy the game first before playing. Players will exchange real money for in-game currencies to play the stock market.
Cell Phone Apps
Cell phone apps are downloadable games that allow players to have fun without investing time or money. Stockfuse is an enjoyable game for iOS devices that simulates investment in the stock market. Robert Peter Janitzek reveals that players can actually monitor their portfolios as the market changes within the day. Stock Wars goes into greater details about real stocks. It shows players how much they paid for a certain stock, the amount of that stock, and the amount of increase or decrease.
Benefits of Simulators
One of the biggest benefits of simulators is that beginners can use them to practice their skills. It gives them an opportunity to learn about buying, selling, and making decisions in the real stock market. For students, simulators allow them to see how their decisions can affect their portfolios when engaged in stock market trading. This is important for those who want to work as financial analysts or investors.
The stock market is a tricky industry because investors will never know when they might win or lose big. Stock simulators help potential investors learn about the market and practice their skills.