Trading Matters Challenge

mikat · 12 January 2008

i have had an email from the organisers re the elimination of some players

it appears that they "werent playing in the spirit of the game", which if some one is opening several windows to play the game simultaneously and do massive numbers of trades, then that to me is not in the spirit.

day trading involves many trades for little gains, and the players that are trading within the spirit, and the rules should be safe, but i suspect from the threads in this forum that players like peter polis, who made the top ten and was wiped, and made it again to be wiped, and dangerous dave , and now probably ozy, rampage and floppys mum have all played outside the "spirit"

the game is supposed to be a simulation, albeit with some differences, and in real life you wouldnt have multiple trading platforms open, and trade 400 times a day.

so with that in mind, players beware if you are going to try and follow where others have already been.

RamPage · 12 January 2008

mikat said:
i have had an email from the organisers re the elimination of some players

it appears that they "werent playing in the spirit of the game", which if some one is opening several windows to play the game simultaneously and do massive numbers of trades, then that to me is not in the spirit.

day trading involves many trades for little gains, and the players that are trading within the spirit, and the rules should be safe, but i suspect from the threads in this forum that players like peter polis, who made the top ten and was wiped, and made it again to be wiped, and dangerous dave , and now probably ozy, rampage and floppys mum have all played outside the "spirit"
the game is supposed to be a simulation, albeit with some differences, and in real life you wouldnt have multiple trading platforms open, and trade 400 times a day.

so with that in mind, players beware if you are going to try and follow where others have already been.

Terms and Conditions

Under Trading:
Each Participant can make as many trades per Day as desired

Under Prize Winners:
the Weekly Winner will be determined using the following tiebreakers: First, the highest dollar increase in total portfolio value during such week; Second, the most CNBC Dollars received by answering trivia questions during such week; Third, the most trades made during such week.

Wouldn't mind siting a copy of the EMail

RamPage.

RamPage · 12 January 2008

I think I might try that one again.

Wouldn't mind seeing a copy of the EMail.

RamPage.

RamPage · 12 January 2008

This one interests me most.

--------------------------------------------------------------------------------

LOTTERIES AND ART UNIONS ACT 1901 - SECT 17
Fraudulent conduct of lotteries and games of chance
17 Fraudulent conduct of lotteries and games of chance
Any person:

(a) who with intent to defraud conducts, or assists or participates in the conduct of, any lottery referred to in section 4, 4B or 4F, or any game of chance referred to in section 4A, 4B, 4C, 4D or 4E, not being a game partly of skill and partly of chance, in such a manner or on such conditions that all persons who have purchased tickets or shares in the lottery or have entered the game of chance have not an equal chance of winning a prize, or
(b) who fraudulently conducts, or assists or participates in the conduct of, a game of chance referred to in section 4A, 4B, 4C, 4D, 4E, 4F or 4G, being a game partly of skill and partly of chance,
shall be liable to a penalty not exceeding 50 penalty units.

RamPage.

RamPage · 12 January 2008

This one has merit also.

LOTTERIES AND ART UNIONS ACT 1901 - SECT 17A
False representations
17A False representations

(2) A person:
(a) who is conducting or proposing to conduct a lottery , game of chance or art union, or
(b) who is acting on behalf of a person or an organisation that is conducting or proposing to conduct a lottery , game of chance or art union,
must not represent to an employee or agent involved in the conduct of the lottery , game of chance or art union that any thing required or permitted by this Act to be done, or any condition precedent to the conduct of a lottery , game of chance or art union to be complied with, has been done or complied with when in fact it has not.
Maximum penalty: 50 penalty units or imprisonment for 6 months, or both.
(3) A person who, but for this subsection, would be liable to conviction for an offence under this section and section 14 is liable to be convicted in respect of one only of those offences.

RamPage.

blind freddie · 13 January 2008

Fortunately or unfortunately this is not a lottery or game of chance. That covers raffles poker machines casinos and the like. The lottery rules are there to protect the local footy club chook raffles, art union house raffles like the boys town art unions etc.

Like most in this game I make very few trades, and only am able to spend 1/2 hour to 1 hour playing around. I know I cannot compete with the top players, and do not take it very seriously at all. And fine it fun all the while.

floppys_mum · 13 January 2008

Blind Freddie you are wrong this is a lottery they have a permit no:

( NSW-LTPS/07/25968)

which means they have to abide by the rules.

and the email you received would be interesting to view as rampage says, and fyi i was not on multiple platforms, one login one game all day.

day in day out.

RamPage · 13 January 2008

floppys_mum said:
Blind Freddie you are wrong this is a lottery they have a permit no:

( NSW-LTPS/07/25968)

which means they have to abide by the rules.

and the email you received would be interesting to view as rampage says, and fyi i was not on multiple platforms, one login one game all day.

day in day out.

You got it in one.

RamPage.

RamPage · 13 January 2008

Had a great night, plenty of reds, great food, exellent company, Played game called who want's to be a millionair (F know's how to spell it) pissed as.
Great night.

RamPage.

Spider61 · 14 January 2008

Someone recently posted: "The game is called "Trading Matters Challenge" not "Investment Matters Challenge".....

That's true, but it's also not called the "Profit in a way impossible in the real market by exploiting what you see as a loophole, Challenge". There is absolutely no skill to placing limit buy and limit sell orders ad nauseum throughout the day to take advantage of not going to the end of the buy and sell queue each time. It simply turns the contest into a race between those who have the most time on there hands to push the button.

A simple way to remove the problem is to only process limit orders if they trade off the sell depth for buy trades, and the buy depth for sell trades. The price would then have to move at least 2 ticks for the scalpers to make their profit.

Mouse · 14 January 2008

*yelp*

I've got CEY shares that have gone down 41% today due to a capital return thing-a-majig.

I wonder how they will handle that. I'm guessing that a capital return is the company giving money to shareholders ... but that's just a guess.

cheers
Mouse

blind freddie · 14 January 2008

Was just going to say mousie what have you done? down to 355 but you have just answered that question.

What is the market going to do today - normally stable shares are all over the place. Takes a lot of intestinal fortitude to buy when the market is like this, not knowing how quickly it will recover. Sneaking suspicion that insitiutional investors are staying away at the moment, but good time for the little guys to grab a few bargains?

Mouse · 14 January 2008

Hmmm I generally go bargain hunting on tuesdays when I look at the charts ... maybe I should jump on some that are going down today?

At least ... I'm still beating my old pal wysiwyg .. no just checked again and he is 2 ahead of me.

cheers
Mouse

blind freddie · 14 January 2008

ANZ & ASX & some of the miners were well down at around 9.30 EST with a number of others. Yes I'm a Queenslander, and I'm not getting out of bed an hour earlier of a morning for anybody! Becides I like my curtains the current colour, not some faded washed out likeness, because of too much sunlight.

blind freddie · 14 January 2008

You know daylight saving not only affects the curtains, it also affects the clothes on your clothesline, that extra hour of daylight will fade the undies right off your clothesline!

floppys_mum · 14 January 2008

Spider61 said:
Someone recently posted: "The game is called "Trading Matters Challenge" not "Investment Matters Challenge".....

That's true, but it's also not called the "Profit in a way impossible in the real market by exploiting what you see as a loophole, Challenge". There is absolutely no skill to placing limit buy and limit sell orders ad nauseum throughout the day to take advantage of not going to the end of the buy and sell queue each time. It simply turns the contest into a race between those who have the most time on there hands to push the button.

A simple way to remove the problem is to only process limit orders if they trade off the sell depth for buy trades, and the buy depth for sell trades. The price would then have to move at least 2 ticks for the scalpers to make their profit.

Has anyone listened to the competitions commercial
"The more trades you make the more virtual dollars you get"

It is a $250,000 car and to date they have kicked off 50 people that reached 1st place, we are the only ones that have complained about it Rampage.

Maybe because the others in their own way did cheat and are not jumping up and down.
You all think that you are learning about the stock market with this game, but it is just that and in the real world it doesn't work like that.
At the end of the comp when it comes to the finals if you have made it and don't have time to trade you have no chance because it is a race.

Hey Mikat do you work for CNBC because you seem to know how to contact them and have this imaginery email they sent you?

blind freddie · 14 January 2008

Like a teaspoon of cement with that?

RamPage · 14 January 2008

Spider61 said:
Someone recently posted: "The game is called "Trading Matters Challenge" not "Investment Matters Challenge".....

That's true, but it's also not called the "Profit in a way impossible in the real market by exploiting what you see as a loophole, Challenge". There is absolutely no skill to placing limit buy and limit sell orders ad nauseum throughout the day to take advantage of not going to the end of the buy and sell queue each time. It simply turns the contest into a race between those who have the most time on there hands to push the button.

A simple way to remove the problem is to only process limit orders if they trade off the sell depth for buy trades, and the buy depth for sell trades. The price would then have to move at least 2 ticks for the scalpers to make their profit.

That's how much you know, That is exactlly how I play the Real Market, It takes a little long per trade but still works.
The problem your new rule is, it is not a rule in this game.
The act does not allow a permit holder to change the rules that limits a players equal chance. A bike rider taking advantage of a tail wind is not cheating and would be impossible to enforce.
That is his good luck.

RamPage.

RamPage · 14 January 2008

There are no rules limiting players base on the amount of time they can play other than ASX trading hours.

Maybe CNBC and ETrade should set the rule to suit your game style.
That way spider61 could win the first prize.

RamPage.

Spider61 · 14 January 2008

Making profits in the manner you guys are is nothing like the real market RP. In the game if say SDL got hit at 30c for 1000 shares, and you had a limit order for 100k shares there, it would get triggered for the whole amount. A similar small buy at 30.5/31 and you'd be filled on the sell side as well.

This has no similarity to sitting your 100k buy at the back of the 30c queue, and hoping to get a fill, then once filled popping your sell in the queue and again hoping to get your fill. Yes u might get the odd scalp, but it is a whole different ball game.

No doubt you think it was also OK for the guys in the earlier days of the comp, to fabricate hundreds of email addresses in order to gain thousands of extra dollars in the referral scheme. Maybe not illegal according to the rules....but immoral?

And for those that were pulled up once for trading in that manner, but then set up a new account under a different name and continued to trade in the same manner, didn't it strike you that the competition administrators would pull you up a second time?

I can understand your stance that it wasn't "against" the rules, but surely you'd agree that it was exploiting them....and here's a quote from their terms and conditions:

"Promoter reserves the right to terminate Contest participation by any Participants suspected of cheating, attempting to exploit the Contest or other inappropriate behavior."

I feel for all the work you obviously put in, but as is the beauty of public forums, I'm happy to civilly express a difference of opinion.

Trading Matters Challenge

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