Hi! I’m Kyle, the Penny Hoarder.

I've got some creative ways to fix your budget.

As seen on…
Win $1,000,000 Playing CNBC’s Virtual Stock Game
Wall Street Bull

by - September 3, 2011 - 6 Comments

Wouldn’t it be cool if you could trade stocks, have no risk at losing money, and you could keep all of the gains? Well – that’s my fantasy anyway. :)

CNBC is holding a cool contest this fall that sort of fulfills that fantasy. The contest is called the Million Dollar Portfolio Challenge and they’re giving away some awesome prizes every week to the person who can make the most money in their virtual stock game.

How do you play a virtual stock game?

A virtual stock game dosen’t require any real money from you, because you are essentially playing with “monopoly money”. In this contest you are given a million dollars to play with; $100,000 of it for trading currencies and $900,000 for trading equities (stocks, mutual funds, etc.).

The contest starts on September 19, 2011 (which just so happens to be my birthday!) and ends November 25, 2011. You can have up to 5 different portfolios and you can make as many trades as you want during the game.

Each week there is a prize given to the person who increases their portfolio by the largest percentage. Some of the weekly prizes include a trip to Dubai and a vacation in the Bahamas. At the end of the contest, CNBC is giving away a million dollars to the person who increases their portfolio the most over the entire contest! Second place also walks way with a a 2012 Maserati GranTurismo. So if you’re wondering why there aren’t any new posts on The Penny Hoarder in December, it’s because I’m driving my new Maserati up the East coast!

What’s Your Strategy for the Million Dollar Portfolio Challenge?

You can play the game anyway you like. I’m sure some people will treat it like a full-time job and it might even be good practice if you have been thinking about taking up day-trading. Personally, I’m tempted to just buy a couple of penny stocks and hope for the best! Or maybe even take a huge stake in Apple and hope that the new iPhone is a hit.

If you want to give the stock contest a try, click here to enter.

Good Luck Penny Hoarders!


  • http://www.happymakernow.com Debbie @ Happy Maker

    Wow that is quite a contest. Maybe i should play even though I don’t know much about stocks. With beginners luck it might be worth doing, but I don’t have a lot of time. that could be to my advantage too. Right!

    By the way Happy Birthday on the 19th of September and good luck. I hope we don’t see any post in December, because you are to busy driving my new Maserati up the East coast!
    Good luck and thanks for sharing this contest.
    Blessing to you,
    Debbie

  • http://www.thefrugaltoad.com Paul @ The Frugal Toad

    I used to teach computers and I had my students invest $100,000 in a simulated stock market game. They had to research the stocks and justify why they made their purchase. If they learned they importance of diversification then the project was successful.

  • glen

    I think that this contest can be won by ANYONE. One year it was won by a waitress who had never bought a single share of stock in her life! You just need to make a plan and stick to it!

    http://tipstowincnbcmilliondollarchallenge.blogspot.com/

    • The Penny Hoarder

      That’s awesome Glen. Hopefully it will be won by a blogger this year. Say a frugal, 24 year old blogger with a dorky sense of humor. :)

  • http://www.squidoo.com/TheYoungidealistEconomyBlog Steve

    Hey, There’s more than meets the eye to this competition. The people who sign up for it are also being given an offer for a free forex account with $50 dropped into it from FXCM. No deposit is necessary and you only need to make 5 trades to be able to withdraw that 50. I just tried it and got the $50 in the account 2 days ago.

    I’ve been playing with the forex market for the first time today on it and I’ve so far turned that $50 into $52.60 in 6 hours time. By my estimates, a daily 5-20% gain in a days work can quickly make that worth far more than $1 million prize that only one person gets.

    The interface can be complicated but rest assured the trades and charts are a simple buy low and sell high mechanism, though I’m still not sure about what the ratios stand for exactly. You will see a blue line and a red line on a USD/? or ?/USD chart. The blue line is what you can sell foreign currency at and the red line is what you can buy foreign currency at. Where their values cross on a rise is your opportunity to gain. I’ll be updating my squidoo lens soon with this info and more findings

    http://www.squidoo.com/TheYoungidealistEconomyBlog

    Thanks a lot for this reference Kyle. Any specific questions that you have you can ask me personally and I’ll gladly chat with you directly on how to gain something from this.

  • John Devlin

    On 10-12-2011 AGQ, one of the ETF’s allowed in the CNBC contest issued a stock split. No accounts with this security were credited with the additional shares from the 2 for 1 stock split.
    Reply from the Contest is that the rules say that additional shares will be deposited by the end of the day on the day of the split. This did not happen and is a major flaw in the contest. It has put many people at an unfair disadvantage in the 2011 contest. What do you think?

More Articles