Interested in the stock market but worried about losing money? Now, you can learn the basics of investing and indulge in risk-free trading. Just play a virtual game. BSE Training Institute, in association with Dalal Street Investment Journal, recently launched Stock Market Challenge, an online game that allows players to buy and sell stocks in a virtual stock market. The game can be played on three platforms — DSIJ.in, Facebook and the Bombay Stock Exchange website BSEIndia.com. Launched in January 2011, 11,000 people have already played the game.
“Several people want to learn about trading, but the games available are too advanced. Also, we wanted to reach out to the younger audience and promote real investment,” says Bhavik Parmar of DSIJ.in, who helped develop the game in-house. Stock Market Challenge targets three sets of audiences - serious traders, youngsters and people who have lost confidence in the stock market. To play, register on one of the three platforms available. Once registered, players are given virtual currency worth Rs. 10 lakh and can begin trading. They can buy or sell any stock listed in the BSE, book profits and create a portfolio. The game picks up live feeds from the BSE to replicate stock exchange trading scenario in real time, so the share prices reflect those at the BSE. Splits, bonuses and corporate dividends in the real market too are automatically added into the portfolios.
At the end of the day, an electronic contract note is given to the players and details of their portfolio are sent across every week. And, if you lose all your money, simply hit the reset button to start off again.
Players can also interact on the chitchat application using messages of 140 characters. “We’ve had players start off with Rs. 10 lakh and go on to make Rs. 100 crore,” says Parmar, who adds that derivatives and futures have purposely been left out to avoid complications.
Learn on the go:
At the start, a demo mode teaches people how to play.
A Game Master (moderator) is also present to clears doubts.
Several levels keep players engaged.
Make a profit, and the game becomes more difficult.
Players with maximum profits are listed as leaders on the board, win prizes
Others can follow their buying, selling tactics to learn more about the stock market.
Play Stock Market Challenge on Facebook, DSIJ.in and BSEIndia.com