The Trading Game App is a fantastic tool for learning the basics of Forex and Cryptocurrency trading, and then testing your trading mettle in a risk-free environment against users from all around the world.
(This article is taken from the April’s 21CRYPTOS Magazine – read the full 100 page monthly magazine HERE).
What can I do with The Trading Game?
The ‘Learn’ section of the app contains super-fast lessons, predominantly on Forex trading – though many of the principles apply to crypto trading too. Each lesson, from “Why trade Forex” to “Big profits with copyfunds” and “Trading Examples” give you the opportunity to earn fake dollars to use on the app’s trading simulator, by answering questions on what you’ve learned. The ‘Forex University’ is a step up from the App’s ‘Forex Trading School’ with even more information on trading cryptocurrency, investing in stocks Vs Forex and “Becoming a Disciplined Trader” amongst other lessons available.
After graduating from the Trading School and University, if you still don’t feel ready do jump into the trading simulations, there is a ‘Play’ zone where you can earn even more play money by answering quiz questions aimed at making you a better trader. The threat of being deducted ‘play money’ for incorrect answers does actually focus the mind and makes the process that more rewarding.
The trading simulator is where all the magic happens. As well as trading Forex, stocks and commodities, you can trade Bitcoin using your play money, to your heart’s content. It’s a great way of learning to trade with leverage and using stop loss orders. The interface is really intuitive and you can be monitoring your first trade within seconds.
Unless you particularly want to personalise your profile – which you can do by connecting to your Facebook account within the App – there is no requirement to hand over any personal info, other than the country you’re located in. You can be burrowing through your first trading lessons within seconds of downloading the App.
Firstly, the app is completely free – yet it contains information and tools that can cost a fair amount elsewhere.
Secondly, linking your Facebook account allows you to pitch your simulated trading record against all the other global users or enter into direct battles and compete against friends.
Not so cool features
It’s hard to find something not to like about the App, in truth. If you are already an experienced trader, the learning section will most likely be too simplistic for you. Likewise, if you are looking to learn about complex chart patterns and indicators you will probably need to graduate on to more advanced materials. However, the simulator still remains a great place to hone your trading skills regardless of where you get your learning material.