I'd love to be involved in a share trading game on here with members if there is any interest...is there is any interest? For example: $50k in the kitty, 3 stocks maximum and must complete at least one trade per week after market close Friday to keep it simple. Just an idea. I'd be happy to run it, accepting trades by PM and uploading an updated table each week before the market opens on Monday. Perhaps we could run a pilot game for say 15 weeks to iron out the bugs with max. 10 participants? What do you think?
Sounds interesting..... So you need to make one trade a week, priced at fridays close? making over the weekend/before monday open the only time the adjudicator recieves PM's concerning competition trades? A week is a long time with a dud speccy punt, although things could get complicated managing daily trades (you could end up a stressed Wall St schmuck but without the paycheck) Maybe add mid week trades, limit the amount of trades, on say wednesday close prices? There would have to be a certain rule on reneging: - as soon as you send your trade PM to the adjudicator it is confirmed? - or, the adjudicator confirms the trade asap, but until the confirmation has been sent the trade can be cancelled (potentially complicated) I suggest you design an excel file to make the adjudicators life easy.
Thanks Whereisado. I have been thinking through this overnight and some of what you have suggested I had written down (great minds think alike) including the spreadsheet. Thank you for the contribution! As this will be a pilot program initially, a pool of ideas is much appreciated. These will be agreed on before we commence. I guess we are now seeking participants. If you want in and will commit to the duration, please PM me. Ten participants only for the pilot. Once the rules are agreed on, we'll kick off. Cheers, GM
Still 6 spots left. Perhaps those that are trying to save their reputations might want to reconsider? I do have a few people in mind........ The following are some draft rules for consideration. Feel free to contribute. Happy to change any and all of them if necessary to come to a consensus. Remember this is just a pilot game at this stage... Pilot game goes for 15 consecutive weeks. Each participant will begin with a kitty of $50,000 Three (3) stocks to be held at any one time. No more, no less. Trades will be accepted within a window of 4 hours post market close on Tuesdays and 24 hours post market close on Fridays. This gives the adjudicator time to input data and upload it onto Silverstackers. No more than 50% of your portfolio can be spent on any one stock. No less than 10% of your portfolio can be spent on any one stock No more than 10% of your portfolio is to be held in cash at any one time Maximum of one trade on Wednesdays and two trades on weekend. Minimum one trade per week with a penalty of $1500 if a single trade is not completed for the week. Stocks will be bought on the offer price and sold on the bid price. Once trade is sent to the adjudicator, it is immediately confirmed and actioned (i.e. no cooling off period) All stocks bought must be listed on the ASX. Trading is free. I think that just about covers it (unless anyone can think of anything I've missed).
A question has been asked regarding dividends. To keep this first one simple, it might be wise to chase after the specky stocks and ignore the divi's. We may also have a maximum allowable amount of cash available at any one time. This is the stockmarket, not a bank.
Mate put me down I look at bloody stocks all day might as well have a bit of fun with it.. pm me when it's about to start and will organise myself
We could allow trading in any stock and not include dividends? Learnt my bloody lessons in investing too much cash in speccies and it gets stuck there, we all learn from markets mistakes and would be nice to use that knowledge in the comp.
Have I mentioned what first prize is yet? Let me just say it is of the bullion variety. The beauty of this game will be in its simplicity. With only two trade windows, limited trades, no divi's etc., you are intentionally hamstrung to a degree and perhaps (read: definitely) a different strategy is required to how you would invest your own hard earned $$. There are no reputations to be lost, but perhaps some to be gained. The following participants are in so far: Caput Lupinum MyNamesNotBen whereisado whinfell Greenman slipage Eureka Moments Trew Just two more spots available. At this stage, if we can get the participants, start date will be next Friday (28th February). This gives me time to make a spreadsheet and find 1st prize.
Just a thought, you may want to make it so you have to spread the kitty over large, mid and small caps to stop people from piling into micro caps and hoping one gets lucky.
