ASX Sharemarket Game 2006
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tech/a
No Ordinary Duck
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Re: ASX Sharemarket game
Trading games are by nature teaching traders in particular "newbies" bad trading habits.
To win a trading game you need to be Risk averse,as to achieve spectacular results you need to take spectacular risk.
A great dose of luck helps as well.
While it can be fun it hardly determines good or even successful traders from failures.
Conservative capital preservation wont win competitions and Maverick trading wont determine competent traders either.
Quite possibly one great trade from a lucky(calculated)call could win as Larry Williams proved when he won spectacularly (It was a futures comp)---one trade returned 1000%.That doesnt make Larry Williams a lesser trader,he's world renowned---but I'm sure hed have a smile and glint in his eye about "That" trade.Joe Unknown could have been lucky enough to make the same trade.
Very good traders could also enter a competition and never connect with a trade or trades which lead to massive wins.
While a very good trader could win so also could a very bad one.
Ever heard of the SAME trader winning 2 competitions???
Successful trading isnt about singular spectacular profit (when it comes it is fantastic) but about consistant year after year solid return on capital invested.Anyone and most do--can have a great trade week month or year.
Few can be genuinely happy with the financial change in their lives that their trading makes.
I've hit a hole in one but I'm a pretty average golfer.
I picked the Trifecter for the Melbourne Cup this year but I'm no Bart Cummings.
I also won $17,500 at Blackjack once---and that doesnt make me a Kerry Packer either.
Now before I'm challenged to enter (I'll get in first).
I trade for profit not for fun.
Its part of business.
The way I trade (in part) is public knowledge with 3.5 yrs of trading recorded.
Enjoy your learning process.
It can certaintly be of assistance if you know what to look for.
Trading games are by nature teaching traders in particular "newbies" bad trading habits.
To win a trading game you need to be Risk averse,as to achieve spectacular results you need to take spectacular risk.
A great dose of luck helps as well.
While it can be fun it hardly determines good or even successful traders from failures.
Conservative capital preservation wont win competitions and Maverick trading wont determine competent traders either.
Quite possibly one great trade from a lucky(calculated)call could win as Larry Williams proved when he won spectacularly (It was a futures comp)---one trade returned 1000%.That doesnt make Larry Williams a lesser trader,he's world renowned---but I'm sure hed have a smile and glint in his eye about "That" trade.Joe Unknown could have been lucky enough to make the same trade.
Very good traders could also enter a competition and never connect with a trade or trades which lead to massive wins.
While a very good trader could win so also could a very bad one.
Ever heard of the SAME trader winning 2 competitions???
Successful trading isnt about singular spectacular profit (when it comes it is fantastic) but about consistant year after year solid return on capital invested.Anyone and most do--can have a great trade week month or year.
Few can be genuinely happy with the financial change in their lives that their trading makes.
I've hit a hole in one but I'm a pretty average golfer.
I picked the Trifecter for the Melbourne Cup this year but I'm no Bart Cummings.
I also won $17,500 at Blackjack once---and that doesnt make me a Kerry Packer either.
Now before I'm challenged to enter (I'll get in first).
I trade for profit not for fun.
Its part of business.
The way I trade (in part) is public knowledge with 3.5 yrs of trading recorded.
Enjoy your learning process.
It can certaintly be of assistance if you know what to look for.
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Re: ASX Sharemarket game
I have a friend who only started in the market last year. Hes done alright got one stock that he has ridden for a while and is happy to sit on his profits hes not experienced in trading at all but he came something like 5th in his state in the last share market game.. I think most of his profit was on a takeover rumour on a forum which turned out to be true...
So you just never know you could very well win... and then after you get that pissy prize money you can go head first into the market undercapitalised and cocky as
I signed up for a bit of fun too.. i guess they're not offering shorts?
I have a friend who only started in the market last year. Hes done alright got one stock that he has ridden for a while and is happy to sit on his profits hes not experienced in trading at all but he came something like 5th in his state in the last share market game.. I think most of his profit was on a takeover rumour on a forum which turned out to be true...
So you just never know you could very well win... and then after you get that pissy prize money you can go head first into the market undercapitalised and cocky as
I signed up for a bit of fun too.. i guess they're not offering shorts?
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Re: ASX Sharemarket game
hi tarnor
No you can't short stocks in the upcoming game. This is the first time I'll be playing and so I don't know what they did in past games.
Also, in the latest game we are limited to the S&P ASX100 stocks for trading. I think this is a good idea as it takes out at least some of the 'luck' aspect to winning as you won't have a punter taking a stab at say a 1c stock which then shoots to 20c+ or whatever for some reason.
Sure, even with ASX100 stocks there could be unexpected good news like take-overs just as their could be unexpected bad news. This will happen whether one is paper trading, playing a trading game or trading/investing in real time using real funds.
I am retired now and so am only playing for a bit of fun I still think the ASX game is a good way to test trading strategies in a controlled environment while having some fun. The only difference in the ASX game is that you can't 'cheat' like you could if paper trading privately and you are limited to ASX100 stocks which is a good idea imo for the reason I expressed above.
See you in the soup over there
bullmarket
hi tarnor
tarnor said:I have a friend who only started in the market last year. Hes done alright got one stock that he has ridden for a while and is happy to sit on his profits hes not experienced in trading at all but he came something like 5th in his state in the last share market game.. I think most of his profit was on a takeover rumour on a forum which turned out to be true...
So you just never know you could very well win... and then after you get that pissy prize money you can go head first into the market undercapitalised and cocky as
I signed up for a bit of fun too.. i guess they're not offering shorts?
No you can't short stocks in the upcoming game. This is the first time I'll be playing and so I don't know what they did in past games.
Also, in the latest game we are limited to the S&P ASX100 stocks for trading. I think this is a good idea as it takes out at least some of the 'luck' aspect to winning as you won't have a punter taking a stab at say a 1c stock which then shoots to 20c+ or whatever for some reason.
Sure, even with ASX100 stocks there could be unexpected good news like take-overs just as their could be unexpected bad news. This will happen whether one is paper trading, playing a trading game or trading/investing in real time using real funds.
I am retired now and so am only playing for a bit of fun
I still think the ASX game is a good way to test trading strategies in a controlled environment while having some fun. The only difference in the ASX game is that you can't 'cheat' like you could if paper trading privately and you are limited to ASX100 stocks which is a good idea imo for the reason I expressed above.See you in the soup over there
bullmarket
Re: ASX Sharemarket game
While I agree with Tech/a's comments above, I think it depends how you look at the game. I am a complete newbie and to be honest will be happy to come away with any kind of profit. I see it as a true learning excercise rather than a competition. My aims are to learn my way around the basics, and if by the end of the game I am making rational stock choices based on some sensible set of criteria instead of taking random punts, then I will have achieved my goal and will start using real money.
While I agree with Tech/a's comments above, I think it depends how you look at the game. I am a complete newbie and to be honest will be happy to come away with any kind of profit. I see it as a true learning excercise rather than a competition. My aims are to learn my way around the basics, and if by the end of the game I am making rational stock choices based on some sensible set of criteria instead of taking random punts, then I will have achieved my goal and will start using real money.
tech/a
No Ordinary Duck
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Re: ASX Sharemarket game
Fugazi.
Used in that way it could have some benefit.
As I have said before trade live on a board like here and you'll be able to learn far more from the input of others than you will "Competing" against others.
Those watching will keep you honest and at the same time may see things you may not have seen, be able to give you suggestions and you can watch the results unfold.
Fugazi.
Used in that way it could have some benefit.
As I have said before trade live on a board like here and you'll be able to learn far more from the input of others than you will "Competing" against others.
Those watching will keep you honest and at the same time may see things you may not have seen, be able to give you suggestions and you can watch the results unfold.
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Re: ASX Sharemarket game
Only 3 sleeps to go now..!!!! :jump:
I went out this morning to buy a few months supply of graph paper and a new ruler and pencil so I can draw some charts
hmmmm....bulk coffee and bikkies have been ordered......wonder what else I might need
anyway......LET THE GAMES BEGIN...!!!
Only 3 sleeps to go now..!!!! :jump:
I went out this morning to buy a few months supply of graph paper and a new ruler and pencil so I can draw some charts
hmmmm....bulk coffee and bikkies have been ordered......wonder what else I might need
anyway......LET THE GAMES BEGIN...!!!
Julia
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Re: ASX Sharemarket game
Hope you're still so excited at the end!
Julia
bullmarket said:Only 3 sleeps to go now..!!!! :jump:
I went out this morning to buy a few months supply of graph paper and a new ruler and pencil so I can draw some charts
hmmmm....bulk coffee and bikkies have been ordered......wonder what else I might need
anyway......LET THE GAMES BEGIN...!!!
Hope you're still so excited at the end!
Julia
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Re: ASX Sharemarket game
Hi Julia
don't mind me....I'm just mucking around...
I doubt I'll be playing everyday....my aim will be just to have some fun and finish in front. If I can finish in the top 10% that would be a bonus.
cheers
Hi Julia
don't mind me....I'm just mucking around...
I doubt I'll be playing everyday....my aim will be just to have some fun and finish in front. If I can finish in the top 10% that would be a bonus.
cheers
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Re: ASX Sharemarket game
Yes I'll be looking at working on my trading plan. Starts tomorrow.
Good luck everyone. Meeting at bullmarket's at open of the exchange. BYO laptop and chairs.
Just letting you all know that Duckman#72 is going undercover for the big game.....but.....if by chance you see.......BMX Man#72 out in front (or up the rear) you will know who he is!!
Yes I'll be looking at working on my trading plan. Starts tomorrow.
Good luck everyone. Meeting at bullmarket's at open of the exchange. BYO laptop and chairs.
Just letting you all know that Duckman#72 is going undercover for the big game.....but.....if by chance you see.......BMX Man#72 out in front (or up the rear) you will know who he is!!
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Re: ASX Sharemarket game
and don't forget your sunscreen
see you in the soup
Duckman#72 said:
and don't forget your sunscreen
see you in the soup
Re: ASX Sharemarket game
I would be interested to know hoe people are going to aproach this game.
Who is going to invest so to speak and who is going to trade?
I mean this more as a volume of trades thing than an investment aproach.
Ie you may invest on a tech perspective and have 20 trades over the game or you may invest fudumentally with 20 trades over the game or you may trade with 100 trades over the game.
Thanx (I don't think you can add a poll to someone elses thread, maybee I should start a new one if there is enuff ppl).
I would be interested to know hoe people are going to aproach this game.
Who is going to invest so to speak and who is going to trade?
I mean this more as a volume of trades thing than an investment aproach.
Ie you may invest on a tech perspective and have 20 trades over the game or you may invest fudumentally with 20 trades over the game or you may trade with 100 trades over the game.
Thanx (I don't think you can add a poll to someone elses thread, maybee I should start a new one if there is enuff ppl).
Re: ASX Sharemarket game
Hi clowboy,
I'm working on my strategy as I go, but the plan at the moment is to have about half in short term trades, and half in shares that I most likely wont touch unless necessary.
If I try and do to much with the game I'll go nuts trying to watch both it and my real portfolio which is mainly long term trades.
cheers
Mouse
Hi clowboy,
I'm working on my strategy as I go, but the plan at the moment is to have about half in short term trades, and half in shares that I most likely wont touch unless necessary.
If I try and do to much with the game I'll go nuts trying to watch both it and my real portfolio which is mainly long term trades.
cheers
Mouse
professor_frink
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Re: ASX Sharemarket game
frinky's in the game!! gunna be trading constantly so watch for me to finish somewhere near the bottom!
although if I could only play with options instead of normal shares..............
:swear:
clowboy said:
frinky's in the game!! gunna be trading constantly so watch for me to finish somewhere near the bottom!
although if I could only play with options instead of normal shares..............
:swear:
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Re: ASX Sharemarket game
Hi clowboy
I'm just having a bit fun in this game....I can't see myself staring at flickering numbers on watchlists all day so I doubt I'll be playing everyday.
I stuck my big toe in this morning and bought two stocks - just had a quick check a few mins ago - 1 up, 1 down and down $15 overall atm
But mrs bullmarket says she wants to have a go sometimes as well, so who knows what will happen
cheers
bullmarket
Hi clowboy
I'm just having a bit fun in this game....I can't see myself staring at flickering numbers on watchlists all day so I doubt I'll be playing everyday.
I stuck my big toe in this morning and bought two stocks - just had a quick check a few mins ago - 1 up, 1 down and down $15 overall atm
But mrs bullmarket says she wants to have a go sometimes as well, so who knows what will happen
cheers
bullmarket
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Re: ASX Sharemarket game
well....it's been a fun day
finished up a respectable, for me at least, $209.30 after brokerage after day 1
I know one thing for sure - there is no way I can do this day in day out for another 16 weeks but it's great fun while playing. I definitely don't have the temperament to be a day trader, so best wishes and good luck to those who are My main aim, like everyone else I guess, is to finish infront and if I can get in the top 10% that will be a bonus.
see you guys and whoever else is playing in the soup....
cheers
bullmarket
well....it's been a fun day
finished up a respectable, for me at least, $209.30 after brokerage after day 1
I know one thing for sure - there is no way I can do this day in day out for another 16 weeks but it's great fun while playing.
I definitely don't have the temperament to be a day trader, so best wishes and good luck to those who are My main aim, like everyone else I guess, is to finish infront and if I can get in the top 10% that will be a bonus.see you guys and whoever else is playing in the soup....
cheers
bullmarket
professor_frink
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Re: ASX Sharemarket game
nice work bullmarket, that'll put you on track for a pretty good yearly return if you keep that up!
I loaded my portfolio up this morning, only to watch most of my days returns slip away by the end of the day
oh well, not to worry. should listen to my grandma, she's always carrying on about watching pots boil and stuff like that.
nice work bullmarket, that'll put you on track for a pretty good yearly return if you keep that up!
I loaded my portfolio up this morning, only to watch most of my days returns slip away by the end of the day
oh well, not to worry. should listen to my grandma, she's always carrying on about watching pots boil and stuff like that.
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