found this on nasioc thought it was a pretty neat idea seeing as how i've never done anything like it before. i didnt know whether to post it in this forum or the wall street one so if you feel it needs moved please do. http://forums.nasioc.com/forums/showthread.php?t=1578719 there is the full thread on what's going on and how's it to be played
Lawl, no insider trading is a rule. Who would do that with just $1000 dollars even if it was real, and we're talking about fake money
what are u talking about jeb? btw i have no idea about stocks just thought it was neat since its not real money
sweet i played this in highschool and lost over half my money in two days...lets see if i learned anything (probably not)
Starting off with paper money is a great way to get into stock trading and I'm all for it. I traded with paper money for about six months before I started messing around with real $$$. I just thought it was funny that they listed no insider trading as a rule. Insider trading is when you use non-public information (un-released financials and what not) to influence your buying or selling of stock. Its information that would be very hard to get a hold of and you'd be risking a lot to do it in the name of a stock game. Unless of course you were buying and selling fake stock of the company you work for. Good luck
I decided to play(jeb55) so you can see what I'm buying and I'll give you some general tips: Lesson 1: Minimize your losses The easiest way to do this when you're only using long positions(not short selling) is to set stops. A stop order means that if a stock goes below a certain price your brokerage automatically sells it at the best available market price. As soon as you purchase any new stock you should immediately place a stop order unless you plan on watching very intently(probably not good for your health or day job) or like having the possibility of losing lots of money. How to do this: You do this by placing a sell order and setting the type to a stop(some sites will call this a stop limit) and inputting your desired sell price. Make sure you select good to cancel/good to close so that your stop does not disappear at the end of the day. You want to leave a little bit of room between your buy price and the stop price so you are not constantly selling at a small loss with the market fluctuations. For example on the game I just bought Avon(NYSE:AVP) at 43.19 and set at stop at 42 as soon as the trade went though because I expected it to uptrend. If it keeps moving up I'll cancel my stop and 42 and place another one at a higher price. Also remember if you place a market or limit order to sell your stock make sure that you cancel your stop so you don't accidentally end up short selling. I hope that's clear, let me know if you have any questions.