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The ASX Sharemarket Game is an innovative, virtual trading game that allows people to trade over 200 ASX listed shares with a pool of $50,000 in virtual currency. The game allows users to learn how, when and why to buy and sell shares on the ASX. Available in a public version and one for schools, the program allows individuals to learn the basics of buying and selling shares and encourages users to test their strategies in a safe and supportive environment.
Running twice a year, the game allows individuals to register to become part of the program and gain access to the world of sharemarket investing. A popular choice for budding investors and finance enthusiasts wanting to learn without actually needing to invest their hard earned money, there are plenty of incentives to learn with cash prizes up for grabs for the most successful portfolios over the designated period.
The ASX Sharemarket Game enables participants to gain knowledge of the ASX and sharemarket, encouraging registered participants to trade under real market conditions as well as take meaningful positions thanks to the $50,000 in virtual currency allocated to your account for the duration.
The key learnings as outlined by the ASX are to:
As well as a public version, there is also a school-based ASX Sharemarket Game that is designed to teach students about investing in the sharemarket. Like the public game, students are given a $50,000 cash portfolio that they can invest over the 10-week period and use live market conditions to test their resolve, skills and knowledge of the markets.
Being able to play as a team or an individual, students have the ability to create their own watch list, view company charts and latest prices, and operate as if they were trading real money – all without the risk.
Student participants in the ASX School Sharemarket game are able to gain access to a platform that boosts financial literacy for students, thanks to the ‘real market conditions’ being placed upon their portfolios.
The game is a fantastic way to exposestudents to all the trials and tribulations of the market, fluctuations in share prices, market volatility as well as educating them in how to read financial news, share prices and what to look for in a company when investing.
Arguably some of the most valuable life skillsa young person can ever learn, financial literacy is vital to the future of the young people of today. With the growing disparity between societal classes in Australia, not to mention the almost unobtainable access to the property market in the major capital cities for most young Australians, learning about the financial markets is extremely important for the future financial welfare of individuals.
With the increase in the ‘gig economy’, freelance work and non-traditional work forms, millennials and later generations cannot expect the same securities of superannuation and easy access to property markets once enjoyed by the generations before them.
The ASX School Sharemarket Game provides a platform for education, learning and future development.Interestingly, students who have completed the school version of the game as part of their coursework can re-enter the ASX Sharemarket Game on their own accord to continue to develop their trading strategies and understanding of the markets for when it comes time for them to start trading and investing in the real market.
[1]https://game.asx.com.au/game/info/public/about-the-game
We welcome you to give our team a call to discuss your investment goals and objectives.
You can call Walker Capital Australia on +61 2 8076 2210, and we’ll see how we can help you achieve your investment goals.
Want to read more great information on Share Market? Check out Share Market article: Share Market
