Anytime someone tells you how well the economy is doing, they tend to point out that the stock market is at record highs. But when you hear that, you think, “how am I benefitting from the stock market’s rise?” If you’re not invested beyond simple mutual funds or ETFs, you’re really not benefitting. Most mutual funds and ETFs perform worse than the market as a whole. If you want to make real money on your investing dollar, there is a way for you to become more actively engaged in the stock market simply by playing a game.
TradeJester is a new app, available on the web and for free mobile download on both Android and iOS, that actually takes stock trading and simplifies it into week-long fantasy games through their unique Earnings Game. Rather than investing hundreds or thousands of dollars and anxiously watching the market to see if the stocks you picked crater, you spend $5 and compete against other players in a contest to see who can have the largest portfolio gain in a week. Winners on a $5 buy-in can win up to $35 or more in one week. The whole idea of a stock game piqued my interest. I decided to look into it a little more.
The Earnings Game centers around stocks that have quarterly earnings reports coming up that week, so stock movement is usually much greater than usual. Normally this might seem like a risky time to trade a stock, but after a few weeks of playing the game, you’ll learn it’s actually a very profitable time to trade stocks, with relatively little work required. Unlike most active trading strategies that require hours of research and careful timing to ensure you buy and sell at precisely the right time, the TradeJester Earnings Game strategy lets you make your picks over the weekend in 20-30 minutes, then you just sit back and watch your portfolio rise.
How to Play
Playing the game is very easy. The app offers a number of visualizations of stock information to make it as easy as possible to see what your best choices are, rather than having to crunch a bunch of numbers. Each contest, you select six stocks for your portfolio and decide whether to go long or short with those stocks. You choose long if you think the stock will rise, and short if you think it’s going to fall. Then you set a weight for those stocks out of three weight choices. This way you can put more weight into picks that you have the most confidence in.
To help you make your picks, you’re given a price trend chart that shows you if the stock price is rising or falling, a visualization of the earnings history for the stock so you know if it tends to beat, meet or miss its earnings estimate, and you also get the analysts’ consensus for the stock so you can see what Wall Street experts think. The game gives you multiple filter options to help you narrow down your choices and choose a strategy, further simplifying the process.
The app is designed so that you level up as you play. You progress from learning by playing the game to eventually making real trades with the same stocks that you chose for the game. TradeJester guides you through playing for eight weeks of contests, learning the ins and outs of the trading strategy while offering personal progress analytics, so you know where your strengths and weaknesses lie. After that eight weeks, if you have achieved a cumulative gain of 5% or more, you’re ready to try the real thing through their in-app trading platform.
TradeJester has found that over 75% of users that play at least five weeks have a positive portfolio gain, and the average gain over that time is over 5%. Not many investment strategies offer you a chance at a 1% gain each week!
After a week of playing the game, my portfolio gained nearly 240 points, which is just under 1%. That was good enough for 17th place. As a beginner in the stock market, I will take that as a small win. Four out of the six stocks that I picked increased. Once I learn more about the stock market, I know that I will do much better. If you’re someone who wants to learn a little about the stock market without buying shares and possibly losing a lot of money, I’d recommend you check out TradeJester. Like I stated earlier, it’s very easy to navigate. If you do have any questions, check out their FAQ.
As A Side Hustle
Join TradeJester and enter the promo code ButlerJournal. You get a 100% bonus up to $100 on your first deposit and you can become an affiliate yourself to earn money on the side for each person you get to sign up using your promo code. The more your referred users play, the more money you make. If you know the stock market well, then this could be the perfect side hustle for you.
TradeJester is a pretty hip app that I think will catch on. It educates people about the stock market and it allows you to make a little money on the side while you’re doing it. The tournaments are $5 to join which isn’t bad at all. There is a tutorial for first-time users, and there are other tools that will help you as well.