I don’t know about you, but to me, the concept of trading stocks is one big, complicated, web of confusion, reserved for professionals, the wealthy, or older people. I’ve felt little left out in the past, when I’ve heard of friends of mine buying stocks, and thought, “I should do that!” The problem is, I have no idea what I’m doing, let alone where to start. That is, until I was introduced to Wall Street Magnate (WSM), a groundbreaking new fantasy trading community that lets people learn the ins and outs of the capital markets. The site uses real-world financial information to offer a realistic and fun fantasy trading experience online, with up-to-the-minute data from all of the major U.S. Stock Exchanges.
WSM allows “traders” of all ages to learn crucial skills in an exciting and social atmosphere. Users have $100,000 in simulated cash to trade stocks listed on the NYSE, NASDAQ, and AMEX. Members climb the corporate ranks by increasing their Status and Title. WSM provides an easy-to-use and intuitive interface for fantasy trading. The site accounts for both dividends and stock splits in a real-time environment, and features social club play where members can collaborate or face-off with their friends while also competing against other clubs. “Traders” can track and document their complete trading history with sortable spreadsheets that can be easily exported. Member profile pages become the central gateway to fantasy trading, where privacy settings can be adjusted at any time. Members can quickly view a snapshot of their portfolio performance, their current achievements, friends’ status, club information, messages, and the WSM Ticker. The WSM Ticker allows members to see live activity streaming in real-time, including 24/7 news from The Wall Street Journal, Reuters Business, Yahoo! Finance, and CNN Money; the 20 most recent stock trades and new trades to hit the site; critical updates regarding buy and sell orders; all Status and Title upgrades achieved by themselves and friends; stock splits awarded for currently held stocks; dividends paid on currently held stocks; ticker posts; and recent friend and club updates.
WSM Clubs also enable members to connect with each other. Each club has its own discussion board viewable only by its members. Clubs can become vibrant trading communities that compete for the best returns. WSM is accessible on all current generation smart phones, tablets, and computers, which is great for on-the-go trading. It’s a great way to introduce kids to trading, too. I had a cousin that started watching stocks in elementary school, and would give his money to his parents to invest for him. While I missed that boat, there’s no better time to start than the present. WSM is easy and intuitive and lets people of all ages practice trading, so that they can gear up for the real thing if they want to. It’s also just fun to play with $100,000 in play money!
For more commentary from Christine, check back often. Views expressed in this column are solely those of the author and do not necessarily reflect the views of The Toy Book as a whole. We hope that you will share your comments and feedback below. Until next time!