Buy low & sell high, baby!
When you enter a SpeedTrading™ game, you'll see this in the bottom right corner of your screen:
Your goal is to grow your TradeOff™ virtual equity more than other traders before time runs out. To do this, BUY and SELL profitably by evaluating the trading charts correctly.
If you don't know what half of that means, don't worry! It might seem confusing and overwhelming at first. Just "Buy" shares at a low price and sell them at a high price so that you make a profit.
You want to BUY when you think the stock price is going to RISE. Think of it as wanting to buy gasoline for your car when it's cheap, not when it's pricey. If you are correct, the stock price will RISE, and you will PROFIT! When you want to secure your profits and increase your equity, hit that sell button.
*Note: Clicking the green MAX button means you are buying the maximum possible shares with all the Buying Power you currently have.
You want to SELL when you think the stock price is going to FALL. Think of this as wanting to sell your Cleveland Cavaliers season tickets before LeBron leaves the team - you don't want to own something that's going to decrease in value.
*Note: Clicking the red MAX button means you are selling the maximum possible shares with all the Buying Power you currently have.
Pro Tip: You can sell stocks even if you don't own them. This is called SELLING SHORT (or "SHORTING"), and is a very common way to make money in the stock market. If you sell a stock you don't own, and the price of that stock falls, you PROFIT the difference. Pretty cool right? So - if you think a stock price is going to fall, SELL.
The button in the middle is your CLOSE button. CLOSE OUT your position when you don't want to be affected by movement of the stock price. It doesn't matter if you've bought shares or if you've sold them, you can close out your position at any time and you will be unaffected by any stock prices. Think of this as just "watching" the market.
Keep an eye on the clock! 👀
You can also use tools called "indicators" that tell you when you should buy and sell!
It might seem confusing and overwhelming at first, but as you compete and test your abilities, you will gain understanding, refine your skills, and have fun!
Last but not least: practice, practice, practice!
For some tips & tricks, check this out: When should I buy and when should I sell?