What Exactly Is Fantasy Trading?

Have you ever come across Fantasy Sports? Well, Fantasy Trading is quite similar, but it’s all about financial markets instead of sports. For those unfamiliar with fantasy gaming, it’s essentially a game that allows you to engage with real-life events. Fantasy Trading, also known as Fantasy Finance, is an online game where participants can practice their trading and investment strategies. You can play with or without real money, making it an excellent starting point for novice investors. Whether you’re interested in Stocks, Cryptos, or Commodities, you can hone your trading skills before venturing into the actual financial markets.

How Does Fantasy Trading Operate?

To truly grasp how a fantasy trading platform functions, it’s best to give it a try. Let’s walk you through the process:

Find a Contest: Start by making the following decisions:

1. Choose the Asset Class that interests you. Let’s say you opt for Stocks.
2. Select the Stock market you prefer, whether it’s the Indian Stock Market or the US Stock Market.
3. Pick an Index you want to focus on. An index is essentially a basket of stocks, categorized by factors like market value or industry sector, such as Pharma, IT, or Banks.
4. Decide on the Date and Time of the Contest. Many platforms, like StockyDodo, host contests at regular intervals.
5. Decide if you want to join a Free or Paid Contest. Paid contests may require a small entry fee (sometimes as low as Rs. 25) but offer a chance to win cash prizes at the end.
6. Allocate: Once you’ve entered a contest, you’ll receive virtual currency. For example, on the StockDodo app, you’ll get Rs. 100,000 for Indian Stocks and USD 100,000 for US Stocks. Your next step is to select five stocks within the chosen index to build your portfolio. Afterward, you allocate your virtual currency among these selected stocks.

That’s it! Once the contest begins, your portfolio’s value changes based on actual stock price movements. At the end of the contest, participants are ranked according to their portfolio value. It’s common for over 60% of participants to at least recoup their entry fee, with the top-ranked winner often earning more than Rs. 100,000. So, beyond gaining practical experience, the winner’s entry fee of Rs. 25 can translate into a significant Rs. 100,000 return!

Why Should You Engage in Fantasy Finance?

Fantasy trading platforms serve as an excellent starting point for future real investments. These platforms provide insights into what to expect when trading in actual markets through games and informative resources. A good fantasy trading platform not only offers learning resources but also a platform for interacting with other investors. Moreover, as you learn, you can also generate returns on a small investment.

How Can You Begin with Fantasy Finance?

On the StockyDodo app, you can virtually “invest” in Equities (both US and Indian Stocks) and Cryptos. You have access to a wide array of finance videos for learning, can create a watchlist, and track the performance of assets that pique your interest. One standout feature is the analysis of your created portfolio. By comparing your performance with that of the contest winner, you can pinpoint areas for improvement.

For novice investors looking to enter the world of investing, taking time to test strategies through fantasy trading is invaluable. Even the most seasoned investors make mistakes and occasionally incur losses on their trades. For beginners, using a fantasy platform before committing significant sums in real markets is an extremely helpful practice. So, why wait? Initiate your investing journey on a fantasy trading platform today!

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