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Fiscal Fantasy League

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  • leejo
    started a topic Fiscal Fantasy League

    Fiscal Fantasy League

    With so many new experts on economics and markets and whatnot, I thought it might be fun to have an investment fantasy league. Participants get $100k to "invest" and we track progress to see who is the next Warren Buffet and who is the next Myron P. Loser.

    Anyone interested in playing? If there's interest I'll be glad to help coordinate setting up the rules and such. Anyone who plays will learn a lot. Anyone who follows will learn some. The rest of you can sit around and wait for the government to save you. :D

  • Nikolas
    replied
    Re: Fiscal Fantasy League

    The key to successful trading is simple: Leverage heavily.

    Leave a comment:


  • leejo
    replied
    Re: Fiscal Fantasy League

    Buy low, sell high, dude. It's easy if you just stick to that simple rule. ;)

    I don't think about it as wanting to quit my day job so much as wanting to make sure that I get my money working hard for me instead of the other way around. I love investing because I make my own rules. On the other hand, I am the only person who enforces any discipline on my decisions. Investing has caused me to seek a deeper understanding of how markets affect each other and the economy.

    Plus I'm interested in spreading the word. The toughest thing about actively investing in the markets is managing your emotions. Fear and greed will paralyze you. It will make you throw good money after bad. Every active investor must come to terms with his or her emotions and how they affect decisions. Usually these lessons are delivered in a manner that sticks.

    But if you can learn to manage your emotions, anyone can, over time, be rich. Investing also drives certain other healthy behaviors. For example, if you're in the markets, right now you might be asking yourself if you'd rather get that fancy new graphics card or put that money to work on some stock you've been watching for several months and now looks ripe for the picking.

    If we do this, and if a few people decide that the markets aren't all that vicious or mysterious after all and start to save more and smarter, I will be very pleased. Especially if I crush all y'all such that you must respeck and recognize. I will be very pleased indeed.

    Course if I do poorly I can always point out that fake trading in a competition has nothing to do with real trading. ;)

    Leave a comment:


  • Hambergler
    replied
    Re: Fiscal Fantasy League

    If anyone has a real system for raping and pillaging the market I am all ears. I would love to quit my day job.

    Leave a comment:


  • leejo
    replied
    Re: Fiscal Fantasy League

    I don't think you have a clue about what you're talking about. Anyone who invests in the markets either learns a ton about the economy or loses all their money fast. Unless you're talking about grandma's 1000 shares of JnJ that she bought 40 years ago.

    But fair enough. You have your out. Sign up and play and let's see your mojo. If you do well, I'll eat crow. If you do poorly maybe you can explain your knowledge of all the other parts of the economy that weren't covered.

    Leave a comment:


  • Mosely
    replied
    Re: Fiscal Fantasy League

    Originally posted by leejo View Post
    And you know this because....?
    I'm not sure I understand the question - are you asking why I know that an investment game doesn't teach anyone about the economy? Because investment markets are not the economy - they play a critical role, but the health of the economy cannot be evaluated simply by looking at market gains and losses.

    Leave a comment:


  • leejo
    replied
    Re: Fiscal Fantasy League

    Originally posted by AMosely View Post
    How is playing a fantasy market going to teach anyone anything about the economy? Or are you only talking about the market economy. An experiment like this says nothing about living wages and the cost of living.
    And you know this because....?

    Leave a comment:


  • Mosely
    replied
    Re: Fiscal Fantasy League

    How is playing a fantasy market going to teach anyone anything about the economy? Or are you only talking about the market economy. An experiment like this says nothing about living wages and the cost of living.

    This is the best fantasy market I've seen to date:
    http://www.updown.com/

    Leave a comment:


  • leejo
    replied
    Re: Fiscal Fantasy League

    It will be interesting to see if you still feel that way after you do it for a while.

    Leave a comment:


  • Hambergler
    replied
    Re: Fiscal Fantasy League

    I'm in. I will play to learn. However I do not believe success at swing trading is any indication of economic expertise, but rather someone who has developed a system to leverage exploits in the market.

    Leave a comment:


  • leejo
    replied
    Re: Fiscal Fantasy League

    Looks like it has training wheels on it dude.

    edit: this one doesn't appear to be a US version and I can't find one that is. Boo Rincewind!

    Leave a comment:


  • Rincewind
    replied
    Re: Fiscal Fantasy League

    I'm in!

    A couple of other options:

    https://www.optionsxpress.com/welcom...s/virtual.aspx
    http://www.digitallook.com/cgi-bin/dlmedia/game.cgi

    Leave a comment:


  • Nikolas
    replied
    Re: Fiscal Fantasy League

    Go big or go home baby!

    Leave a comment:


  • leejo
    replied
    Re: Fiscal Fantasy League

    I think I've found a way to do this. It seems to have all the sophisticated trading abilities you'd find on any online broker, and it's free. Interested folks should register at the Chicago Board Options Exchange site: http://www.cboe.com/tradtool/virtualtrade.aspx

    I'd start fiddling around with placing orders etc. to get a feel for the site, then close out any positions and deposit the necessary "virtual dollars" to bring the account balance to the $100,000 starting point.

    We can send in screenshots to prove balances, etc. I'm still looking at the site to see what information would be required to administer a contest.

    I was thinking that a good start date might be 4/15 and a good finish date might be 11/4. Whoever is in the lead on the last day of each month earns the title of Tactical Gamer Economy Czar for the next month, and Boris Von Stinkypicks must carry some indication of his or her shame in the autosig for the next month. Something like that to make it fun.

    I think it would be helpful, if we do this, to update the forum with posts when participants open or close positions to help everyone understand what you're doing and why. In other words, something like "entered a limit purchase 100 shares GE at 36.4, good 'til cancelled" or "entered a stop-market for 50 shares GE at 34.59" followed by some text describing your decision-making.

    Another suggestion is that participants be limited to purchasing $25k shares' worth of a stock. If a one buys $24,999 worth of a stock and it increases in price to $25,000.01, one need not sell but may not purchase more.

    Howzat?

    Leave a comment:


  • leejo
    replied
    Re: Fiscal Fantasy League

    Wow! Deju vu big time.

    Leave a comment:

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