Fake stock market trading may teach you about trading, which isn't necessarily the same thing as investing. I think you need to understand how things work and how to read financial news and statistics before you start trading. Otherwise, you're just going to get frustrated when you mysteriously win and lose funny money.
I'd suggest a few things:
- Start an investment club. I did this in college with a few friends, had a good time and we learned alot.
- Watch financial media. The Nightly Business Report on PBS used to be really good, although I haven't watched it since the long-running host retired. He's a bit of a clown, but watch Cramer on CNBC -- listen to the guests and track stocks and sectors that he talks about often.
- Follow a few stocks in diverse sectors. Do research, listen to earnings calls.
- Read financial media. Pick up the Wall Street Journal and the Economist when time allows. Read the book reviews and read recommended titles that interest you.
- Don't get distracted by exotic stuff.
Also, don't get into individual stocks until you have at least $5k to invest -- focus on saving and use ETFs or mutual funds. You should always invest in around a half dozen diversified stocks at a time, and doing that with less than $1,000 a stock will make it impossible to trade and make money -- If a $100 stock position goes up 20%, you haven't cleared enough to pay your brokerage fees.