So tomorrow is the starting date, where we can start buying and selling? I had a good look at the website and it looks impressive. I loved the stock market thing in GTA V and this has lot more depth in that
So tomorrow is the starting date, where we can start buying and selling?]
I think most markets open trading on Monday so due to time difference, I don't expect we can do live trading but we should be able to do preorders. If so, I'll put up screenshots tomorrow so people can get an idea of what we're doing
Post by michaelangelo on Jun 14, 2016 14:55:27 GMT
Ok, so this is what everyone's dashboard should look like. By taking a look at the home box, you can immediately gather some info, such as my current cash balance, current portfolio value, and my buying power. To the right of that, I can see my percentage of returns sorted weekly, monthly, and overall. They also show the FTSE 100 Index so that I can compare myself to the market.
To the right of that, there's a box with a chart. By clicking on the tabs, you can learn more about the diversity of your class of assets, a review of your portfolio, industry type, and the market cap.
You should see tabs on the top of the page (Home / Make a Trade / My Portfolio / Quotes / About / Learn Center / Videos) and you should see many tabs fall vertically on the left side of the page. (Challenges / View.. / Create.. ) I will go more into these later, but first, I'll scroll down and try to explain the remaining items on the dashboard.
Well, once you scroll down, this is what you should see. The box that says My Portfolio Today gives you daily info on the progress of your stocks. I, for example, have bought 3 stocks (AEM, FB, and SCTY). Mousing over the stock symbol will show you a little message with the stock name (Agnico Eagle Mines Limited, Facebook, Solarcity). The two little symbols to the right of the stock symbol lead to charts and news, respectively. This will help you analyze your stocks and hopefully assist you in making better decisions. To the right, it shows the quantity of stocks that I have bought, the price I paid, its current price, the market value, and finally, my percent return (green being profit / red being loss). At the end of the box, you'll see a trade button. I'll get more into that later.
So, in that box we are currently in "Standard View". By switching tabs, we can see "One Day Chart", "30 Day Chart", and "Year Chart". This is just data looking pretty. Above those tabs, there are two tabs. We are currently in "Stocks/ETFs" but can also change to "Spots/Cash Commodities". I'll explain that later, but to give you an idea of what it entails, mine shows that I've shorted the British pound...
Moving on, to the right side of the page we can see a watchlist. I think we've all been given default stocks on our watchlist because I could care less about the stocks that are there. You can add your own later so you can keep an eye on them.
Looking on the bottom part of the page, you can see the portfolio value chart. This lets you compare your portfolio's progress in comparison to different markets (mine is currently set to the S&P 500. You can change that to whatever market you please (Dow Jones, Europe, Oil, Japan, etc). Right now, the line representing your portfolio should be mostly flat, especially if you haven't bought stocks. Over time, the fluctuations should become more visible.
Well, now that I've explained the dashboard, I'll move on the the fun stuff - trading.
Post by michaelangelo on Jun 14, 2016 18:19:42 GMT
Remember how there were tabs at the very top of the page? One of them is labeled "Make a Trade" and this will be where you do most of your work. By mousing over that tab, four different options pop up (Trade Stocks / Trade Spots / Symbol Lookup / My Order History). If you click on Trade Stocks, this is what you will see.
The point of interest should be the box that allows you to make trades. As you can see, there are tabs that separate the different continents and when you select a continent, it displays the markets in that continent. That way, you can purchase from NYSE, The London Stock Exchange, Shanghai, or wherever you please. If you don't know the stock symbol of the company you are interested in purchasing, the "Symbol Lookup" tab that appears when mousing over the "Make a Trade" tab at the top of the page will help you. However, I personally use google.
Anyways, when you know what company you wish to purchase stock from, you type in the symbol and the quantity of stocks.
After doing so, you should get this information. After pressing the "Preview" button, you will get this information.
You will get a summary of your order (quantity, market price, commission fee, etc) and you will have the option to confirm, change, or cancel your order.
That's it in a nutshell!
Again, if you mouse over the "Make a Trade" tab at the top and select the "Trade Spots" tab, a very similar page will open up for you. However, here you can buy different currencies (for example, I've shorted the British Pound) and bet on various resources (I've bought gold, but you could invest in oil, silver, etc).
Post by michaelangelo on Jun 14, 2016 18:32:18 GMT
Now, remember this:
This is where you can play around with the market a bit more. The "Action" button gives you different options (Buy / Sell / Short / Cover). The first two are self explanatory, but for those who don't know what the other two entail - here you go:
The "Order Type" button gives other options (Market / Limit Order / Stop Order / Trailing Stop $ / Trailing Stop %)
Market order means you buy immediately, or (if the exchange is currently closed) the transaction goes through immediately once the market opens. The other orders, however, require a little bit more explanation. You don't necessarily have to use them, but they can be a good tool if you get a hang of it.