No prize The Trading Game #1

The Trading Game
In this virtual trading game your initial cash balance is $100,000 AUD. The player with the highest portfolio value at the end of the game wins.

Use leverage carefully, as your game will end if your total balance falls below $1.

No prize in this first game. But there will be in future games.

 

[Silver Soul]

I have this funny feeling in my body that it will go lower than that. When the usd "implodes" other nations will take their avenegece on the US and that place will not be a nice country to live in. Sad

 

[STKR]

I have this funny feeling in my body that it will go lower than that. When the usd "implodes" other nations will take their avenegece on the US and that place will not be a nice country to live in. Sad

It's a valid feeling. I do wonder how long they'll kick the can down the road.

 

[STKR]

@Silver Soul while I was chatting with you I had a short position on and forgot about it. I just checked in and saw the market tanked and landed my biggest profit of the game - $120,000!! All thanks to you

 

[Silver Soul]

Sure don't get burnt. Good luck too you

 

[STKR]

Sure don't get burnt. Good luck too you

I probably will. Profits come come quick at these levels but so do the losses. Every 1c is like $4,000 with max position and max leverage right now. I just want to see how far I can take it.

 

[Silver Soul]

Yep I've been there done that. Good luck to you

 

[Silver Soul]

What candles are you trading?

 

[STKR]

What candles are you trading?

I'm mainly looking at the 1h but alternate between 30m and 4h. But I'm looking at XAGUSD charts on my Metatrader account. I just find adding a currency pair muddies the water too much for a true analysis.

I'm using Bollinger bands, moving average, RSI and volume.

 

[Serial]

I'm a little suspicious of the difference between 1st and everyone else. Wondering if their is a way to get price movements before they flow to silveroos

 

[STKR]

There's periods of unparalleled prices between the forum and live markets, much like the forums source works on an average with slightly delayed updates. I've certainly taken advantage of it but it can also work against you when placing a position. I've seen the forum say prices that the live market didn't even reach, and it was showing I had a massive loss all of a sudden. There needs to be a source that can more accurately mimic the live market because any discrepancy between prices is often more annoying than helpful.

The biggest reason for price divergence is exponential growth at max leverage and position. Once you pass $200k your profit taking multiplies significantly. Right now a 20c movement in the silver price is over $140,000 profit for me. I just closed a $270,000 trade just before! Your portfolio/position size serves as compounded leverage.

 

[Toti]

STKR i believe the time has come to ask you for a loan, I'm good for it, trust me
Well done on your trades, a true artist

 

[STKR]

This is less than a 40c movement in the silver price.

 

[STKR]

STKR i believe the time has come to ask you for a loan, I'm good for it, trust me
Well done on your trades, a true artist

I think we're due for another correction here. Gonna short it and see what happens. Not too far from that $30USD mark but I reckon we're running out of puff for the time being.

 

[Administrator]

@STKR $2,258,042.35, maybe you should quit your day job.

 

[STKR]

@STKR $2,258,042.35, maybe you should quit your day job.

The moment emotions are taken out of trades, everything just makes sense. I traded for a few years with 400x leverage. Totally different game when you're watching real money. I had some significant losses during that time and essentially banned myself from doing it. It wasn't even the financial loss that was the worst part, it was what it did to me while I had open trades. But I still have a demo trading account that I use every month and I 20x my portfolio all time before it resets itself and I start again.

 

[STKR]

The markets have actually frozen. Very bizarre. I have never seen this happen before, like they've shutdown during trading hours.

 

[STKR]

All commodity markets have frozen. Something is going down at the Comex right now. There's no closure for a public holiday, so this isn't normal.

 

[STKR]

Nice little correction. I'm buying back in now

 

[Administrator]

@STKR

 

[STKR]

TBH - It felt like I placed more than 123 trades. It really does become a race to 200K and the compounded leverage does the rest. I let no position go more than 50c of market movements, and most of my trades were closed between 10c-30c.

When I was trading a few years ago, I made my broker over $9,500 in a week just from the Buy/sell spreads of my trades. This was from the sheer volume of trades I placed during that time. I'd hate to think how much money I made them over the years.

A few suggestions for this game:

- Having the market entry price listed on each open position.
- Having a stop loss or take profit system.
- Sourcing the price from live markets or having a higher refresh rate.
- Fixing the lag between displayed profit/loss and market price.

The game shows a lot of promise and it's actually a little sad how much time I spent trading. It all started with @200oz and I battling it out and then I became obsessed.