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Wall Street Survivor has been around since 1990 so they have a lot of experience in the area of stock market simulations.
Account setup:
All they ask for is email, user name and password. The next setup page is interesting because you have 4 options to choose from. Three are 3 paid options and the last is free.
1. The first paid option enables real-time quotes for stocks and options for $14.99 per month which is definitely worth considering if you want a realistic simulator.
2. The second paid option is called the premier trader bundle and includes the real time package plus some really nice extras. Some of the extras include protected stops using Smart Stops . Ability to create up to 5 portfolios instead of just the one. Access to Zacks buy and sell recommendations plus technical analysis charting using Recognia technology.
3. The final paid option will cost you $39.99 per month and include all of the features from the premier trader bundle. This third option is known as the elite trader bundle. The extra features in the bundle enable 100% trade transparency with the community. You are able to see every trade other top traders make and will receive tops from the top 10 traders in the community daily. $39.99 might seem like a lot of money but it is nothing compared to the money you could lose if you’re jumped straight into the markets without first mastering your skills in a professional market game. Additionally you might even make money from prizes on Wall Street Survivor with the knowledge this package provides.
4. The fourth option is the free stock market simulator Wall Street Survivor provides and will be the primary focus for the rest of this review.
The last setup page has some special offers that are worth taking a look at, especially the offer for free credit from The Spartan Trader.
Portfolio:
There are 3 different types of portfolios available on Wall Street Survivor that all begin with a $100,000 account balance. These are the $100K Contest Stock Portfolios, Option Contest Portfolios and a Permanent Portfolio. The first two portfolio types can have up to two portfolios associated with them while you can only have one permanent portfolio. You can add, delete, rename and reset your portfolios from the 'My Portfolios' tab. All of your portfolios are automatically leveraged by a factor of 2. So all your portfolios are simulated margin accounts. Cash balance will begin at $100k but buying power will be $200k.
Buying and Selling:
Trading stocks and options is simple with WSS. Just browse to the trade page from the main horizontal menu. You need to make sure that you now select the correct portfolio before you place a trade. If you forget to select the targeted portfolio for this trade then you will not be happy, especially if you start practicing a trading strategy in your real contest account.
There are a medium amount of trading options; these include shorting, covering, duration, market orders, limit orders and stop orders. Free accounts currently also have stop loss recommendations from smartstops.net. By far one of coolest and most unique things about WSS is the ability to incorporate option trading strategies into your portfolio. You are able implement a simple, spread, covered call or protective put strategy automatically. It’s also possible to create all kinds of crazy option strategies like condors, straddles, etc using combinations of simple option trades.
Games:
There are 2 additional fun gimmicky market games on WSS that remind me of Trade2Race . The first is Bullseye Jackpot where players can sign up to guess the closing price of the hot stock of the day. The exact guess wins the jackpot. If no one guesses exactly then the jackpot rolls over to the next day. The second game is guess the next tick. The game description is in the name really.
Real Rewards:
Weekly $150 for first place performance and multiple $500 monthly awards depending on trades placed. Daily prizes as well.
Final Note:
There are way too many features available from WSS to write about so you are going to have to investigate it further yourself. This has to be the most complete stock market and option trading simulator in the world if you pay for the extra options.
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