The Rules of the Contest

[calven]

Hey I was wondering how it is possible to have my pick be up 2% today yet my total gain/loss is 0%?

   
calven   UBET   5.80    +2.11%     5.80      0.00%



The same thing for "eliteg" . ERI was up 2% today yet his total shows  -10%???

[Ramsburg]

Hey I was wondering how it is possible to have my pick be up 2% today yet my total gain/loss is 0%?

   
calven   UBET   5.80    +2.11%     5.80      0.00%

Hi Calven,

Your buy price (and for the rest of the players) was the opening price for the day, which in this case was: $5.80
UBET openned on the high of the day, rising +2.11%, and closed at the same price.

I hope this answer your question.

best regards

[calven]

How does it both open and close at 5.80 yet move up 2%? lol

Im more concerned for eliteg... same thing happened to him

[dwest718]

The move in percentage is from previous close.  My stock was another that jumped at open and traded down but still finished up 1% from Friday's close.  I'm down 1.5% for the competition because it was down 1.5% from open.

[Ramsburg]

How does it both open and close at 5.80 yet move up 2%? lol

Im more concerned for eliteg... same thing happened to him

Friday's close was $5.68, so at $5.80 it was moving 2%

[Terliso]

I think Calven is confused already.....

(Here Calven follow this:)

1) UBET previous closed @ 5.68 (11-05-05)
2) UBET open today @ 5.80 (11-07-05)
3) UBET you bought it today at opening @ 5.80
5) 5.80 bought & 5.80 closed = you got 0%
4) 5.68 to 5.80 = the stock UBET got 2.11% not you.

is it clear now Calven?  

[Terliso]

Mathematics is sometimes confusing .... I hate math!! but we need it so bad to calculate our gain in stock world 

[setravis]

The Leader after day 1.

*****************************AussieTrader**************************

You Go Aussie

[eliteG]

How does it both open and close at 5.80 yet move up 2%? lol

Im more concerned for eliteg... same thing happened to him

thx for the concern calven 

I knew I was in for trouble when the stock gapped up over 10% @ open  but the cool thing is this is a month long contest and I chose a very volatile stock on purpose... we shall see. 

[AussieTrader]

LOL thanks Setravis, thing is I have sprinted real fast on day 1, but forgotten that it is a 4 week race, so my stamina will be under severe test very soon

I have a feeling Mr SVA and Mr SMTX may be shaping up for a run at the 1st place crown very soon.

[Lucas Scott]

I have a feeling Mr SVA and Mr SMTX may be shaping up for a run at the 1st place crown very soon.

Maybe Mr. SVA, but Mr. SMTX is DOA

[vic666]

lol...thanks. I'm Mr. SVA (not bragging, but feels good to be in 1st place amongst such an elite group!!!).

but you know what, with the rules for this "beta-version" being what it is now, i.e. strictly starting with the price on No.v 4 and the final closing price on Dec. 5, this contest has become more of a "game of chance" than that os skill...becuase as someone pointed out earlier, if say someon'ew pick had a 150% gain in 8 days and he/she decides to close the trade...you only gotta count that gain...instead of waiting for the rest of the 3 weeks to end (in which time the stock might end up -150% !!)

the contest's gotta be purely a game of skill...hopefully the administrators will implement it in the future versions.

As for SVA...I've not been holding it but rather trading it...even though it's been my own pick. but the gains so far from trading have been very decent to me. The high of $7.92 will soon be tested...I just hopes it coincides with the contest closing date of Dec. 5  so I could bag the purse! 

good luck to all traders out there.

[Ramsburg]

I think the next edition of the contest will allow you to sell you position, I'm thinking in some kind of rule like «You have to insert your selling post and the selling price will be the next open» probably with some time limitation, like you must insert your order at least 1 hour before the open.

But I have to work arround the contest script a bit... hhehehh... I'm not a professional coder, and this kind of works are much more difficult to me than trading the markets ;-)

I´ll have some news about the second edition this week.

regards.

[Ramsburg]

Rules updated

[Lucas Scott]

I'm glad you guys are splitting up the prize this time instead of winner take all. Though you'll get no complaints from me about the winner take all format in the first edition!

One small suggestion I have would be for the contest to end at the closing price on the last day rather than the opening price of the following day. Seems like opening prices are subject to some manipulation. It wasn't an issue in the first round because of the margin of victory but, if the margin is only a percentage point or two, the outcome could be manipulated by a small and seemingly irrelevant gap up or down at the next open.