10 Oct 09 Learn to Trade Stocks the Safe Way, Virtually!

Many people compare the stock market to a casino. Their mentality is that of a poker player. The good news is that , unlike a casino, you as an investor do not enter the stock market with a statistical disadvantage. When you spend money on stocks, you are buying something of value.

Unfortunately, many new investors chose to throw their hard earned money at stocks without really knowing what they are buying. The stock market is a complex arena that can hold the key to your financial independence if you are properly educated. You, as an investor, need to learn how the stock market works so you can make educated decisions.

In a search for additional sources of education I came across a virtual stock market trading website. This site is unique because it allows you to practice trading real stocks without risking real money. It basically gives you the ability to trade like a day trader. You use fake money and trade like the traders on Wall Street. You will learn how to find good stocks and how to trade them successfully.

The website allows you to chat with the other users. This is a fantastic environment for new investors to discover tips and techniques from more experienced traders.

The platform I’m using is called UMOO. It’s an alternative, virtual stock market platform based on real stocks with real stock pricing. The great thing about it is that the user doesn’t need to risk real money but has the opportunity to win.

Traders can pay a fee (buy-in) in order to enter a tournament, or can play for free (great for the novice trader). You will receive virtual money with which to build and cultivate virtual portfolio based on real-time stock market quotes in competitive trading tournaments.

The object of the tournament is to earn the highest return on your portfolio. The winners receive some cash prizes according to their performance, all while learning and perfecting real stock market trading techniques and strategies.

UMOO is for everyone with an interest in the financial markets It provides a safe environment to test investing strategies without risking real money. Since UMOO uses real stocks in real time, the strategies learned can be seamlessly transitioned to your actual portfolio.

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