These days, most of us want a quick buck. We can’t wait for out investments to reap and for the money to flow in. Stock markets can just help do that! If you have some cash ready and are looking to invest it somewhere for quick returns, stock market is the place! But before you start trading stocks there are some factors you need to take care of. There are many blogs dealing exclusively with stock trading, but experience comes with practice and only practice will make you perfect. So no matter the number of books you read, blogs you visit, courses you join, you’ll learn stock trading only by practice. Neither will you make profits every time nor will you lose your money every time! Each time you make a profit you’ll be motivated and each time you make a loss you’ll be demotivated more. And to make real profit you need a big investment which is not always possible. And even if you’ve a big investment, you won’t be ready to invest all of it in stocks fearing huge loss. And to get rid of that fear of losing all your money in stocks, you need a lot of motivation which only practice can give you. But how?
Have you ever heard about virtual stock trading? Virtual stock trading is real trading where in you don’t have to invest anything and you can still buy or sell stocks. Since you are not spending any money, you obviously won’t get any money in return. But virtual stock trading actually helps you improve your stock trading skills! Before I actually spent some real cash on stocks, I practiced hard playing online stock trading games! Though I came to know of online stock trading games three years back, I only started using them a year back when the official BSE game was launched.
In these three years I had spent some cash on stocks, but I had never invested more than 50 thousand on stocks. I had never made a loss so far, but still feared making a loss if I invested a big sum and that’s why I decided to try official BSE game by DSIJ.
Benefits of BSE Game
- You don’t have to invest money.
- New registrants get a sum of 10 lakh rupees of virtual money to invest.
- You don’t make a real loss even if you do!
- Develops your skills. Makes you a better stock trader.
- You compete with real players.
- And you win prizes every day, every week, every month and every quarter!
- You still want something else?
How to Register for Dalal Street Journal India BSE Game?
- Visit this link and register yourself an account.
- Once you hit the ‘Register’ button you’ll be mailed a password. Visit the same link and use your username and password to log in to your account.
- You’ll now be taken to a new page where you’ll see some facts about your trading activity like the days you’ve made a profit, the days you’ve made a loss, most profitable stock, most loss making stock, number of stocks traded and more. Apart from this you’ll also come to know the percentage of people making profit and loss and your daily, weekly, monthly and quarterly rank!
- To start playing the virtual stock game, hit the ‘Play Now’ button.
- Enter the stock you wish to buy in the search box. Choose one of the stocks which you see and then hit the ‘Trade’ button.
- Fill all the fields and hit the ‘Place Order’ button. When the market next goes live, the order will be placed and you’ll receive a confirmation email of the same.
- Once you’ve ordered the shares, they’ll be displayed under ‘Holdings’. Since it’s Sunday today, my order couldn’t be processed and it’ll be visible under Holdings on the next working day.
- Meanwhile we can look at a stock which I had bought earlier. Just click on the ‘+’ icon you can see on the left side of BHEL ( the stock name). You’ll get information on the profit you’ve made, the total brokerage and more.
- To sell a stock simply hit the ‘Sell’ button under the same section on the extreme right side of the stock you wish to sell and then hit the ‘Place Order’ button.
- You can also chit-chat with other users of DSIJ BSE game and learn about which stocks to buy or sell. The chat box is available just below the Holdings section.
Well that’s how you buy stocks for free. Though you won’t be making real profits this is actually a good way to learn stock trading. You’ll make virtual profits and losses but the knowledge you gain will be real and long-lasting. And if you are really good at stock trading and if you manage to rank first you can win a premium BTST membership, a pen drive, Reebok sunglasses or an Apple iPod!