Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

On line share trading monthly competition idea for Simon Brown

Reply
Parttimer
Frequent Contributor
Hi Simon, I was thinking about this the other day and its maybe something you want to have a think about. Its not gambling but merely pitching all the hot shot traders against each other. Why do we not start a month fixed portfolio trading competition. As a suggestion we make it work as follows. 1. Each person competion contributes R1000 to the fund. Say we have a 1000 participants, thats a million bucks. 2. On your on line share trading platform we have a competition page like a normal equity page. 3. A participant is give a R100k in Monopoly money. You can buy any number of stocks, futures, CFDs etc. The costs are all calculated and it closes you out at R100k. 4. This portfolio gets closed at the close of trading on the 1st day of every month. Your portfolio is locked and cannot be changed. All you can do is to see how you are doing financially like the normal platform. 5. The R1000 is transferred into this account if you want to compete and gets deducted like the normal cash in the account. 6. You then programatically determine the winner on the close of business day of the next month based on the profit in the account. The cycle then starts again. 7. The winners gets maybe 70% of the pool, runner up 20% and the third place 10%. 8. We make this a continuous monthly competition and like I sated if you get a thousand guys to compete, the winner can make R600k of hard cash. What do you think??
0 Kudos
18 REPLIES 18
Preston
Super Contributor
0 Kudos
Not applicable
Sounds like gambling...why dont you just play roulette instead. You could lose your money faster.
0 Kudos
Rams
Super Contributor
Simon still celebrating Valentines day.
0 Kudos
SimonPB
Valued Contributor
because the point of losing money is to do so slowly .. surely ??
0 Kudos
SimonPB
Valued Contributor
I not a huge fan of paper money competitions, but will roll it around my head and see what's what ..
0 Kudos
Preston
Super Contributor
Simon, on a postive note, thanks for the discussion on "easy money" namely when it comes to shortening a stock. I have had 2 successful trade (sell SSF trade)since then. Thanks Simon and Russ.
0 Kudos
Not applicable
Actually, Simon, BC has a point here. I don't like these kinds of competitions either because it is gambling pure and simple, which trading and investing isn't. If I invest 1000 bucks, I expect to make a return on it. My risk is how much return I actually make. If I 'invest' in this stock pick scheme, I am betting that my stock will outperform the remaining 999 participants' picks - and that is just sheer blind luck. Completely against the ethos of trading and a self destructive habit for traders and investors alike, IMHO
0 Kudos
SimonPB
Valued Contributor
0 Kudos
Creature_of_the
Super Contributor
How about a straightforward comp similar to Market Leader challenge on facebook.All the shares or top 100 , no CFDs NO SSFs no Warrents etc etc .....( No weapons of mass distraction)
0 Kudos
Parttimer
Frequent Contributor
I think that if the forum thinks that R1000 per month is too much and the duration is too short, then make the competition period 3 months. Surely like I've stated before, to scoop up R600-700k as a winner (1000 entrants) is a fantastic risk to reward. Alternately make it a R100 per month competition. We need a something competitive on this trading platform where we all pitch our skills against each other. Its exciting.
0 Kudos
TOPIX
Regular Contributor
How many regular contributors to this forum can you count? 30... 40... 50...? Of them, I guess less than 1/3 will participate in a "game". That's the number your'e working with. Not 1000.
0 Kudos
Not applicable
I think your missing what we're trying to say...its not about how much you pay to participate, its more about your chance of winning.
When I enter a trade I have a 60% chance of being right, with this competition, even if I was profitable if there is just 1 person luckier than I am - I still lose, considering theres 999 other participants thats a very good chance somebody else is going to be luckier than I am.
So trading I have a better than 50% chance of winning, with this I have a 1% chance of winning...why would I risk any money on this?
Dont get my wrong, these competitions are a lot of fun...but I would never risk money on them.
0 Kudos
Creature_of_the
Super Contributor
Luck is when preparation meets opportunity..........
0 Kudos
Not applicable
SBK. Used to have a warrants competition. Any lersons learnt?
0 Kudos
Not applicable
SBK. Used to have a warrants competition. Any lessons learnt
0 Kudos
SimonPB
Valued Contributor
actually was an SAWarrants comp and that was different as people traded real money ..
0 Kudos
Pepi
Regular Contributor
SA Warrants - that be you Simon, those days?
0 Kudos
SimonPB
Valued Contributor
0 Kudos