7 replies to this topic

[Jelly-Filled Ace]

If the interest comes forth, I'd gladly set up a fantasy stock contest.

I'll give this a couple days to see if it's worth doing, and if so, I'll set up the contest so the majority can start at the same time.

I'm open for if this will have a nominal wager, you know, something in the 5, 10, 20 dollar range or straight-up freeroll is fine, too. Either way I'll set it up if the interest is there.

I'd also like your feedback on a couple rules that I could go either way with, such as:




Allow selling short?
Short selling is risky. This will allow users to sell stocks they don't own in the anticipation of a decrease of share prices.
[ ] Yes, allow selling short
[ ] No, do not allow short selling

Allow after hours trading?
Allow users to trade stocks after the stock market is closed (between 4:00PM ET to 6:30AM ET).
[ ] Allow after hours trading
[ ] Disallow after hours trading

12. Delay trading 30 minutes?
Users may get real time quotes from other sources such as CNBC. This will take away the unfair practice because our quotes are 20-minute delayed due to SEC regulations.

[ ] Do not delay 30 minutes
[ ] Delay 30 minutes

13. Allow margin?
Allow users to borrow money up to 50% of their portfolio value.

[ ] Allow margin account
[ ] Allow cash trading only (no borrowing)

14. Stock price limitations.
Limit users to buy stocks above a minimum price. Penny stocks, referring to share prices below $5, are a risky investment. Blank field means no limit.

Minimum price ($): ??


If you're interested, post it.

Happy Trading !!

[Suited_Up]

First step.... Explain what all that stuff means.

[Yoda]

Well if you are doing a fake contest I don't see the point in allowing margin. Decide on a starting amount and stick to it.

Allowing all sorts of trades and having to double check if people are legit with their prices and stuff just seems like too much work. Unless you are using/know of a free site when you have to enter the fake orders in (I know they exist but I don't know of one where you can just run your own for free).

A more reasonable way to make a contest is to setup an NCAA tourney style bracket. Have each person choose one stock on Sunday or something - let each round last Mon-Fri - whoever has the better performing stock advances.

[hblask]

I guess it depends what kind of game you are trying to run. Our newspaper used to run a stock market game where you get to put $1000 (?) into 5(?) stocks that you hold for some amount of time (3 months?), and whoever has the highest value at the end wins.

Of course, there's a lot of luck that way.

You could use Yoda's idea of weekly results, winners advance, but that would be total luck.

I think any time you do trading you are asking for a lot of work, although you could minimize it by doing it like mutual funds -- just take the end of day price on the day you buy or sell.

Margins/shorting makes no sense in a contest like this.

If you want to gamble, make it short term with frequent trading. If you want it to be skill, make it run a year with a managed portfolio.

[Jelly-Filled Ace]

Here's the site I had in mind, snoop freely.

When I started this thread, I had hoped to run this from now (start next day or two) till like the Friday before Memorial Day, you know peeps will be out doing things/less pc'ing and such.

Be it as it may, I'm up for whatever the majority want, if it creates a game. I just loosely wanted a wide-open run for 10 weeks no-holds barred. Cheap/free fun with some interest involved, mainly. Nothing anyone should get hurt playing.

To me, I could care less if we have Investment Pros or a guy throwing darts at the WSJ in this. Having played in a few fantasy contest, I definitely suck at stock picking but I love the competition. These contest can be fun IMHO.

[El Guapo]

I do this for a living and this sound like too much work.

[Yoda]

I duno how much effort i'd put into it - but i'd probably do it.

[WrongWay]

With the market we have had in the last year, 3% moves in an hour are not uncommon. I don't see how it could be a day trader type game. Heck, even 1 week is up and down all over the place as we have emergency rate cuts, bailouts proposed than collapsing, $10s of billions of wrote offs, government stimulus packages, etc, etc.



May as well be a "where will the S&P 500 30 day moving average be on Memorial Day".