Bondarb creating the WSO Macro Challenge got me thinking that it would be cool/fun/educational to do something similar with equities. I'm going to call it the WSO Equity Challenge unless someone comes up with a better name.
The idea is somewhat half-baked right now, but here's what I've got so far:
Everyone will use a Thinkorswim paper trading account and begin with $300k in cash.
The contest will begin on February 3rd and run through July 31st.
Every week between Friday at market close and Sunday at noon a screenshot of you P/L will be sent to the commissioner (me - Simple As...) at both the "symbol" level and the "overall" level. I will then send out weekly standings by Sunday midnight. (Note: All times mentioned are Central Time because that is where I live.)
In an attempt to make this educational as well as fun everyone will submit a summary of your thesis for each purchase that is no longer than one page in length. If, in any given week, you make more than one purchase you need only submit one write-up.
Everything will be done via a Google Group and Google Docs/Google Drive. The only exception to this will be the weekly P/L numbers which will be sent directly to the commissioner.
Open discussion and sharing of research reports, etc is strongly encouraged.
The winner will be determined solely by P/L at market close on July 31st. Weekly numbers are just to keep everyone informed and up to date.
No options will be used.
I reserve the right to amend/change the rules and regulations of the contest until market open February 3rd.
If you would like to participate please PM me your email address and "team" name.
Post your comments/concerns/suggestions in this thread.
Hopefully enough people want to participate to make it worthwhile!
Winner will get 100 Silver Bananas from yours truly and I'm open to any other suggestions.
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Yay in.
Are we allowed to front run if we know what our company is buying that day???
Also i think the winner should be judged on the sharpe ratio they achieve, which we'll know since we'll know everyone's weekly stats. Otherwise people may feel no need to diversify or consider risk. Also sharpe ratios are generally good at measuring the quality of an investment imo.
Glad to see Stevie Cohen has taken @"DickFuld"'s lead and decided to give back!
I'm in... Sidenote - ThinkorSwim paper accounts expire after 30 days unless you have an actual account with them.
Thanks, I did not know that.
Any paper trading programs you would recommend for the contest?
http://www.marketwatch.com/game/ is pretty good, but I'm not sure if it can do everything that you want in the game
In
I am in.
I would add some type of sharpe ratio handicap as well as limit purchases to stocks trading above $5 at time of purchase (keep it within most institutional mandates). Possibly also place some type of market cap minimum around atleast $20mn. Just trying to stop anyone from penny stock gaming the system.
I remember my high school doing one of these and the program would let you trade after hours at closing price. You could just look up after hour winner (think crazy biotech) and lock in gains and sell on open. Just make sure whatever paper trading system you use doesn't let that happen.
Ps. long only? Short sales much more interesting IMO in current evirnoment.
Investopedia has a good platform that we used for a competition when I was in school.
Also, @tiger2012 makes good points. L/S would be most interesting.
Thanks for the input guys.
I ended up creating a game on Investopedia because it looks like the best option that doesn't force everyone to get an actual account somewhere.
I've attached the rules of the game to the OP. Instead of a team name everyone will choose the name of a famous investor or just a fake name. I'm Stan Druckenmiller in the game.
PM me if you'd like to join.
Will there be a limit on participants?
I don't think the game puts a limit on the number of participants and I don't see why we couldn't go up to 20 or 25 people if everyone wants to share 1 page thesis summaries once a week or an unlimited number if people just want to play and not have a dialogue going on.
I'm interested, depending on who else participates. I'd rather compete with guys like you and Grey Fox than college kids - no offense.
@"tiger2012" is the only Certified User, other than me, so far. Hopefully you and some other CU decide to participate. I'm trying to structure it so it's both worthwhile and not too time consuming because there are already hardly enough hours in the day. I will say that most of the younger guys that are already signed up I've gotten to know and think pretty highly of them.
Is this happening? Otherwise DM on twitter, head to head. Prize (scotch).
So this starts Monday right?
I would like to play; new member, though, so I can't PM you.
I'm in, newer member though so I can't PM
Interested in this, any openings?
Sorry guys totally forgot.
If anyone isn't part of the Investopedia game or Google Group yet let me know and I'll add you. You should have been able to start buying yesterday.
I still haven't been added to the google group yet. Or if I have, I haven't recieved any notification about it.
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