Protrade is a Web site that I stumbled upon almost a year ago. I was looking for some sports information randomly, and I came across the Web site. Some knowledge of sports and the market process is necessary for financial success. If you decide to join, keep in mind the site is completely free to join, and yes, you can win prizes too. However, I’m not really about the prizes, and many of the other traders there aren’t, either.
The way it works is essentially like this. You can buy, sell, short, or cover stocks that you deem viable. Let’s say you buy 40 shares of Albert Pujols for $200 each. If you hold Pujols at that price all year long (which isn’t advised usually) and he has a stat line like this:
40 Home Runs
100 Runs scored
You’ll more than likely earn a substantial return on your investment. However, if said player goes down with an injury, expect for his price to drop, and (unless you’re already shorting him) expect to lose money. It’s fake money, so don’t sweat it. Like any good stock trader, learn from your misfortunes and move on. There’s a lot more to this than what I’ve mentioned. The one other thing you should know is to try to find a guy with high earnings potential at a low price. Let’s say you bought the Rays at the beginning of 2008, and held onto them all season. Being that they were an awful team the previous year, they would be priced low originally. However, if you were a lucky owner and picked them up, you would have likely doubled, maybe tripled your money put in, as Tampa went all the way to the World Series.
If you’re interested in sports as much as I am, this can be a good way to learn about the stock market system as well.
I would recommend this to any age group, you just have to be interested!