Editor's note: This is a guest post from Dan Carroll, the founder of kaChing, now available as an application on My Yahoo!. As part of the launch of new open applications for users of My Yahoo! and Yahoo! Mail, we asked all of the app developers to introduce themselves and talk about building their apps on Yahoo!'s open platforms.
Now Yahoo! users can give their investing skills a huge boost using kaChing, a remarkably realistic web-based virtual trading environment. The new kaChing application on My Yahoo! provides users with a $10,000,000 virtual portfolio, so they can learn the ropesor hone ideas and strategiesrisk-free.
Built on the Yahoo! Application Platform (YAP), the app uses the Yahoo! Social Directory API, to enable users to connect directly with their Yahoo! contacts and friends to swap ideas or to see who can pull in the best returns. Another key feature of the app allows users to tap into the thoughts of top investors in the kaChing community of 370,000 members. kaChing ranks and spotlights the best performers, and users can choose to follow anyone, watching all their trades in real time.
kaChing provides a fun and social way for new and experienced investors to view their track record and see every detail of their portfolios and the portfolios of the investors theyre following. Users can see detailed information for any portfolio on kaChing, since the platform is designed to be completely open and transparent. Experienced investors will appreciate just how realistic the trading platform is, with real-time pricing, restrictions on trading volume, and other details that make it an almost perfect proving ground.
With groups devoted to every style of investing and every corner of the market, its easy to connect with investors who share your interests. And coming soon, investors who rise to the top will actually be able to earn a living on kaChing. There are plenty of investors on kaChing with impressive track recordsand followers who want to duplicate their performance in the real world. Soon, followers will be able to set up a brokerage account to automatically mirror every kaChing trade their favorite investor makes. Theyll pay a small fee for this service, most of which will go to the investor theyre mirroring.