Hi,
I tried out the CNBC Million Dollar Stock Portfolio challenge and actually made quite a bit of virtual money. If I really went into buying and selling stocks online would it be as simple as it is virtually. Is selling stocks as simple as clicking "SELL" or is their a little more to it? Also, who is buying the stock when you sell it? Somebody else or is the company buying their stock back? How long does it take for transactions to take place? Which website would you recommend for trading stocks? I believe ShareBuilder.com seems to be the cheapest but is that the best way to go?
Also, the link for the CNBC Million Dollar Portfolio Challenge is:
http://contests.cnbc.com/milliondollar/main.do
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5 Comments on “Is buying and selling stocks as easy as they are on the CNBC Million Dollar Portfolio Challenge?”
Frank Castle 10th March 2010
1) No.
2) Yes.
3) It could be the company or somebody else.
4) Less than a second.
5) Zecco.
6) Sharebuilder is too expensive. I suggest TradeKing, Just2Trade, SogoInvest or Zecco.
Space Coast Virtual Services 10th March 2010
I love sharebuilder!
easy to use:
I use it! It’s great for small time investors! like me!
I’d love to go bigger but don’t have all those answers…can’t wait to see your best answer for this one though!
opinion1 10th March 2010
I haven’t played on that site but I do buy and sell stocks. The main difference is it is real money and it doesn’t take much to have a significant loss as well as a gain.
The buying and selling is easy but the research into the company is hard.
null 10th March 2010
A little more complicated to trade but not all that confusing once you get it down.
jebediabartlett 10th March 2010
I think that last guy answered all your questions, but I just wanted to add: it’s actually easier in " real " trading because you buy or sell immediately…the " game" is traded after market closes… hard to wait for a good buy…or not be able to sell on bad news, etc.
Another site you might like is:
http://www.top10traders.com/
P.S. The " challenge" is also Seriously flawed because of " multiple entries"….some people have hundreds of entries…. all " one-stock" portfolios…..something has a great day…Bingo they’re on top!!
I play along, but hold no thoughts of winning in that kind of fiasco. I’m in the top 8%… feel good about that!!