In the first of an occasional series of guest blogs, Ian Harris, who currently tops the ExtZy leader board (even after donating £300 or roughly 3000 Zoints to charity) presents his top tips on how to play ExtZy and win. He’s going to blog three tips, one a week for the next three weeks.
Tip One: Utilise most of your credit line at all times; credit costs nothing in ExtZy and dividends on your holdings soon add up.
I think I am a most unlikely leader board topper for this game. I have always eschewed trading in stocks and shares in the real world; indeed I have actually learnt a lot about real world share trading by playing ExtZy these last few months. Who knows, I might now try a real world dabble.
However, I am a commercially minded fellow and am used to looking after Z/Yen’s own funds, so I emulated my real-world approach. I took a pretty safe and simple strategy when I started playing ExtZy. Credit costs nothing in ExtZy, but stocks all pay significant dividends. It seemed to me common sense and (unlike the real world) very safe to use up my credit line and earn dividends as quickly as possible with “other people’s” (in this case, ExtZy’s) funds.
I looked for stocks that I imagined would be relatively high-income prospects, bought them and raked in the dividends. Occasionally I’d reinvest those dividends by making further purchases. I rarely sold, except when the occasional speculative sell order came off. When that happened, I reinvested in an alternative high income stock. Soon this strategy compounded to very significant profits.
I’m not convinced that such a “high income” strategy alone is sufficient now, as I’ll explain over the next couple of weeks, but I am convinced that buying “income stocks” is a great place to start. Look at a stock’s previous dividend history and the P/E ratio, that isn’t the be all and end all, but should give you a reasonable idea where value is likely to be. So if you are sitting on your credit line doing nothing with it, you are wasting the most valuable asset that ExtZy offers you. Don’t just sit there, buy something!