Thursday, September 20, 2007

Rookie Challenge on MyWallSt.net

Have you ever wanted to learn all about stocks and investing? I have always been very curious about it and have always wanted to learn how it all works. Well, now I can do just that. And I can trade stocks from real companies with virtual money. And at the same time, I will be entering into a weekly $1000 contest! So I will be learning and also eligible to win $1000! That's awesome!

You just go to WallSt.net and sign up for the rookie challenge, and everyone who registers receives a free WallSt.net hat. It's totally free to register and totally free to participate. I, personally, am looking at this as a chance to get a free education in the world of stocks. Yes, I know it won't be a full-fledged education, but, it will definitely get me a lot closer to understanding all of it.

They rank the success of each user, tracking everyone's performance, and comparing how you've done with all of the other Rookies. You will start out with $100,000 and you can invest it in any way that you wish.

The winners are determined by whomever has the highest percentage of gain in that week. You have to have $100,000 or more in total equity before you are eligible to win prizes. Oh, and every transaction you make costs a virtual $20.00.

I really like how much information is given on this site, I think they are really going to help a lot of people like me understand, at least a little bit, about investing. And the cool thing - it's a social networking site - yes, Web 2.0 is reaching out into every walk of life. I love that. You have a profile, just like on many Web 2.0 sites, where you can add pictures of yourself, and tell people about yourself. You can make and add friends, and communicate with other users.

This could definitely be a very helpful site - to a lot of people! I know it will be helpful to me!

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