A stock trading simulation is useful in teaching a person how to finance, and many brokerages set up accounts online for people to practice trading stocks. Get a feel for the stock market before exposing oneself to risk with help from a licensed financial planner in this free video on the stock market and investing.
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My name is Bill Rae. I'm with Alumni Financial Services. I've been in the business in the finance world for well over 20 years. Today's question is what is stock trading simulation? That's an excellent question. That's a question of today's environment if you will, or today's technology because many years ago you didn't have the ability to actually go and play to learn how to finance. That's what the simulation is. Many, many brokerages out there now give you the ability to go online and actually setup and account where you can pretend to put money in and you can kind of like playing Monopoly if you remember when you were a little kid, you can pretend at how to buy stocks, what to look for in value, how do I sell, how do I raise it. In other words you can get a good feeling and a good understanding of what you're going to be doing in the stock market before you actually expose yourself to risk. We're not here to give you stock advice, but you do need to speak with a licensed person when you decide to move ahead. My advice is always is to shop around, ask lots of questions and if you decide to move ahead, know what it is you're signing, know what monies are required of you, what is the cost of that, in other words do they have fees, how can you get your money back, how easy is it, how hard is it, when can I get my money back and more importantly, what can I reasonably expect to earn on my money? And as always, we recommend seek outside counsel. Know what you're doing before you do it. My name is Bill Rae, I'm with Alumni Financial Services and as always, we're here to help you build wealth.