People who have made it rich by buying stocks one day and then selling it off are far and few.
Just like the hot tip eps of Seinfield - you can easily get the feeling "hey I can watch the stock market". Well your wrong - those tips are far and few.
Why the interest in StockMarket/Mutual Funds and finance in the first place? Ever heard of 401K? Ever heard of the RRSP?
They are stock market and funds portfolio for your retirement - why let something as far as 50 years wait when you can dip it in now and on a 5 days basis look at your money rise for you on screen or fade away as if you gambled it off (yes stock market is kinda like gambling as you do not foresee the future but your willing to take a chance).
My nephew and I talk about stocks pretty easily and its all about market watch - watching what the industry is doing and what are the CEO and Tech are doing for a company. With this incentive - 2 years ago he told me about this crazy "virtual" stock market simulation and aid for education as to how the market works. It had some nice features and a "pool" to see how fair the other people that are in your league are fairing. You start with 100K in fake money and you buy and trade stock. It was fun for a while and apparently i doubled in my income (how can you not when you can finally buy some google and apple stock!) - but soon after i lost interest - as the tools and the simulation grew dull. Its a simulator after all.
Well 2 years later - with the market slowing down again (Nintendo is slowly dying!) I made it a challenge now: RBC has a Practice Account of 100K of fake money for you to practice with. Its directly tied into your existing online banking account and it uses the exact same tools as if you had a real account.
Now Let the games begin.
My GOAL: is to see how smart i can be in using the fake money and make in short term a profitable portfolio assuming that i had 100K disposable to me. How knows - maybe secretly someone will pay attention to this and will actually give me 100K of real money to play with! I just want to proove that I can do.
So on a weekly basis - i will summarize what i bought, what i sold, why i did it , and how is it doing.
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