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TG Fantasy Stock Market League

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  • leejo
    started a topic TG Fantasy Stock Market League

    TG Fantasy Stock Market League

    Hi Gang. A few folks PM'd me with some questions about the details of this thang. Sorry for the slow response - some work jumped up and bit me late last week and now I'm in Newark.

    The idea here is to have some fun together and to learn about the stock markets. There's nothing like doing it with real money you've earned (and really don't want to lose), but since we'll be playing with monopoly money here, I wanted to spice things up a little with some competition to simulate some of the real pressures.

    To get started:
    • give yourself $100k in play money.
    • PM me your email address
    • When I receive your PM, I will send you an email. Please reply to it with a screenshot of the "Positions" tab of your virtual trading application that shows your opening 100k balance.


    As soon as you're registered and have snagged a screenshot of your opening account balance, have at it! Since this is about fun and learning more than anything else, if you're late to start, don't worry about it. Starting late may actually be an advantage in this game!

    I would like for us to use this thread to post notes about our trades - what you did and why. In the spirit of competition, do not report orders that you have entered but which have not been filled. For example, if you buy 100 shares of ABC at 10/share, let us know, and let us know why you think 100 shares of ABC is a good buy for you.

    However, if you also enter a stop-loss at 8.75, we don't need to know that while the order remains unfilled and your position is open. If you enter a limit order for 100 shares of ABC @ 9.55 that hasn't been filled, same deal.

    Make sense?

    There are many things about this exercise that differ radically from the real world. For example, most of us don't get to start out with $100K. However, I believe that participants will find themselves attenuated to the markets and the economy in ways you haven't experienced before - just like how you maytfind yourself walking down a street and thinking "that's a nice firing position over by that Starbucks" having played a few rounds in an FPS, you may find yourself thinking about business and markets more in your spare time than before. Let's learn, then let's go make our money work for us.

    Good luck!

  • Nikolas
    replied
    Re: TG Fantasy Stock Market League

    Word. I just sold 1/2 of my options.

    The VIX directly measures options values; the more options increase in price, the higher the anticipated volatility.

    Might be time to jump on the other 1/2 soon, but what the heck. Let's see how far the ride takes us.
    Last edited by Nikolas; 10-06-2008, 12:47 PM.

    Leave a comment:


  • leejo
    replied
    Re: TG Fantasy Stock Market League

    I just saw that the VIX is now over 50 for the first time since 10/16/89.

    The VIX is an index that measures volatility and, by extention, fear. If we aren't damn near a bottom now we are truly in for a nasty ride.

    Leave a comment:


  • Nikolas
    replied
    Re: TG Fantasy Stock Market League

    I wish! I actually bought a couple calls this morning! I was certain that bailout would pass. I suppose I should be less cynical next time?

    Overall it was a decent day for me, because I hold a larger number of S&P500 implosion options than anything else, but the calls definitely hurt me.

    ...Wish I had held onto those AAPL puts though. That one was so obvious. Conspicuous consumption always takes a hit in recessions. Think that cow has left the barn now, though.

    Leave a comment:


  • leejo
    replied
    Re: TG Fantasy Stock Market League

    How's everyone doing? :D

    I just wanted to pop in and eat a little crow for Tybalt, who called it like rain.

    Leave a comment:


  • Sabre_Tooth_Tigger
    replied
    Re: TG Fantasy Stock Market League

    I found an account a bit like this except they give you real money and let you trade tenths of a unit. You only get use of the money for 3 months and they take it back but you get 100 UKP to play with and in theory its real, you get to keep any money you make though so far Ive made only tiny trades and overall 'lost' about 15p (30 cents)

    Ive not had to give them any real money and they havent got my card details, I expect they did a credit check on me but seems a good deal for anyone who wants a half way between fantasy market and the real deal

    Buying .10 of a unit of stock is the same as 10 shares I believe. You could buy upto aprox 3 units with the free allowance of 100, but unless you got lucky first try that would likely ruin it

    www.iii.co.uk is the link

    Leave a comment:


  • Sabre_Tooth_Tigger
    replied
    Re: TG Fantasy Stock Market League

    So you made a profit over that term ?

    Leave a comment:


  • Nikolas
    replied
    Re: TG Fantasy Stock Market League

    Nice.

    Leave a comment:


  • Hambergler
    replied
    Re: TG Fantasy Stock Market League

    I just sold everything so I can start fresh.

    Leave a comment:


  • Sabre_Tooth_Tigger
    replied
    Re: TG Fantasy Stock Market League

    You could buy jpmorgan now its eaten the bear

    Leave a comment:


  • Delta*RandyShugart*
    replied
    Re: TG Fantasy Stock Market League

    is it too late for me to pick bear stearns?

    Leave a comment:


  • jbiloh
    replied
    Re: TG Fantasy Stock Market League

    The financials are oversold and (for those who remain well capitalized) are beginning to become increasingly attractive for the broader midsummer rally.

    Leave a comment:


  • Nikolas
    replied
    Re: TG Fantasy Stock Market League

    It'd be funny if you could only go long on a stock after there had been a downtick.

    Leave a comment:


  • leejo
    replied
    Re: TG Fantasy Stock Market League

    Originally posted by USN_Squid View Post
    Isn't there a rule that you can't short a stock until there's been an uptick? I thought I saw that somewhere. That's the only thing I can think of that would've prevented me from executing the short. Probably a good thing, although it would've worked there was only about a half hour window where WB dropped and it's been up since.
    That rule was eliminated last year. Last week the SEC implemented some emergency measures to curb the practice.

    Think about it. If you're a market maker, and you want to drive a price up, it becomes more and more expensive for you to do that.

    If, however, you sell a zillion naked put options, you drive the price lower, and it costs you absolutely nothing. Sell some more, and you make more!

    I bet this rule is being discussed in certain circles. It certainly creates a considerable headwind once a business gets caught up in a short-storm. It's just so easy to keep shorting it to death, and all the traders make money.

    Leave a comment:


  • Nikolas
    replied
    Re: TG Fantasy Stock Market League

    WB closed up 27% today.

    Leave a comment:

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