|Posted: March 22, 2007, 1:56 am - IP Logged|
Anyone here taking the million dollar portfolio challenge on cnbc.com
I'm giving it shot having never really invested on my own besides the portfolio's i had when i worked. I find it interesting for some reason. Since the game gives you 1 million fictitious bucks to play with you can find out for yourself how well you could do investing for yourself.
The first week i did pretty good then the bottom dropped out i got scared and sold a lot of stocks i had bought because of the two day slump. Then i got back on board and bought close to 750,000 shares of stock. Let it earn money and sold it only to find out today it increased again. So I'm back to finding another stock that will earn. This game is great for anyone who thinks he/she can manage their own portfolio.
To try and win this game means to throw all rational thinking about buying stocks out the window because it's not to see how safely you can manage your money this game means taking big risks. But for someone who would like to just try and see how they might fare playing this game is a good opportunity.
There are rules that don't apply to real trading. Like buying or selling your stock isn't in real time any stocks you buy or sell are whatever the price is at the end of the day. Remember the golden rule buy low, sell high. If you buy a stock that soared one day. And the next few days it looses money your portfolio will be going in the wrong direction. You could wait and see if it gains or dump it and go for something else.
If you do play remember it's a game you have nothing to lose.