Virtual trading: Moneybhai.com

bvpraveen · #1 14th November 2006, 05:12 PM

Hello all,

To get a feel about the market and at the same
time paper trading, can we enrol in some
virtual trading sites like Moneybhai.com,
where we can play with virtual money.
Even I think there are prizes too. I happened
to know about such feature today and I'm thinking
of enroling in it.

* How far they are worth?
* Is there any catch in such free sites? (Because why should one conduct
such an event without any profit for him?)
* Are they really helpful?

Any comments, plz.

Praveen.

mahimaprasad · #2 26th June 2008, 08:04 PM

Hi All,

Great to join u all people. i am new to this site and would love to have your co-operation

Thank You,
Regards,
Mahima Prasad

skarpio · #3 26th June 2008, 08:16 PM

Quote:

Originally Posted by bvpraveen

* How far they are worth?

Worth a try. Its a start but far from what you typically get from international online virtual trading websites. Criticism apart, they allow only equity trading (good thing is you can short sell) and probably NIFTY futures (though I no longer can recall with sufficient accuracy). I was not impressed with order execution, too slow, and never quite get execution for large orders (~1000 shares). Also, quotes are delayed, I believe.

Quote:

Originally Posted by bvpraveen

* Is there any catch in such free sites? (Because why should one conduct
such an event without any profit for him?)

This is promoted by moneycontrol. The primary motive is to get more people to use it, generate ads -- the usual web-based ad-revenue driven free service delivery model. They also link directly to moneycontrol's website. However, you need to provide your mobile number to register.

Quote:

Originally Posted by bvpraveen

* Are they really helpful?

If you've never traded this gives you a good feel of the way the market works. A limited but working knowledge. IMHO, not much in the long term. YMMV.

AW10 · #4 27th June 2008, 04:55 AM

Paper trading can never give you the exprience of emotional roller-coaster that comes when real moeny is at stake.
It helps in familiarizing with the trading platform of your broker.
I am not sure if you can transfer the learnings of moneybhai platform to your broker's platform (say ICICIdirect, Indiabulls or whatever).
It is unfortunate that our brokers are not offering this facility. As an alternative, if you are ready to spend few 10s or 100s of rupees then I will suggest to open a trading account and buy 1 share of fair company where the share price is within your limit (say 1 ashok leyland, arvind mill, IFCI etc).
This way you will also learn how to look at price / charts / contract notes/ your daily position status / dmat transcation/ impact on cash balance etc etc.

There is lot more to trading then just buying a share.

Happy Trading / investing.

columbus · #5 27th June 2008, 07:31 PM

Quote:

Originally Posted by bvpraveen

Hello all,

To get a feel about the market and at the same
time paper trading, can we enrol in some
virtual trading sites like Moneybhai.com,
where we can play with virtual money.

Praveen.

Just good site for virtual trading but don't think of ANY prizes.Oneday I was in TOP 10 list, they made call on my cell to say that MY PRIZE IS ON THE WAY and I WILL GET IT IN 2 WEEKS TIME.Similarly I got an e-mail from them also.More than 6 months passed ,but I did not get my prize.I was hurt not because I did not get the prize but my credibility was lost.Moral of the story : DO NOT EXPECT ANY PRIZES.

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