Tradergames: 50% poker / 50% trading

This is a discussion on Tradergames: 50% poker / 50% trading within the The Foyer forums, part of the Off the Grid category; Hi roberk Very interesting site.Am I right in saying you got to trade 4 shorts and 4 longs within 2 ...

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Old Jan 22, 2005, 1:25am   #11
Joined Nov 2003
Hi roberk

Very interesting site.Am I right in saying you got to trade 4 shorts and 4 longs within 2 hours of the competition.?

Also, they give you a 100,000 paper account, how much do you place when trading in these competition.per trade.


sun
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Old Jan 22, 2005, 3:10am   #12
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roberk started this thread
Quote:
Originally Posted by sun123
Hi roberk

Very interesting site.Am I right in saying you got to trade 4 shorts and 4 longs within 2 hours of the competition.?

Also, they give you a 100,000 paper account, how much do you place when trading in these competition.per trade.


sun
HI sun,
No not 4 trades; the only thing is you must place at least one trade during a game. That trade could be the winning trade. I am a daytrader so I usually make over 5 or 6 in a 2 hour game but some players only make 1 or 2.
They give you 50 million playmoney for each game and you can buy and sell the whole amount each trade or a minimum of 1 million and any multiple in between. I tend to put on the full amount when I enter a trade and then scale out as the move looks to be ending.

When I first started playing I would scale in as well but many players watch what other players are doing and follow their moves. So if I am right - but only have small position- Joe will see my direction and follow with a full 50 million and quickly overtake me - frustrating!
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Old Jan 22, 2005, 3:22am   #13
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Hi roberk

So you saying if you are a good trader some joe public could follow you. So the thing to do is put some foot soldiers in the market so to speak.with a low stake To fool them.

Do the other players now what stake you are placing.If so the foot soldier approach wont work. Im going to open an account Monday and have a go?

Thanks

sun
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Old Jan 22, 2005, 3:28am   #14
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roberk started this thread HI Sun,
Yes the other traders can know exactly what trade you make, but not the amount ,as soon as you place it because they can make you one of their favourites and get news of what you are doing, or they can look at the watch page, see the trades made and have a good idea of what you have done, including the exact size, (although if all traders enter positons near the same time it gets confusing).
Your 'foot soldier' faking move is a a good idea- might try that myself! It can still work becuase they think to get ahead of you by putting on a bigger position.

Last edited by roberk; Jan 22, 2005 at 3:35am.
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Old Jan 22, 2005, 3:37am   #15
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roberk

That's a shame they know the amount you stake. But you can confuse them by placing small stakes maybe. but they catch on to that In time.

So if one is good at trading, it would be still hard to make money, as the not so skilled would follow you moves. I give it a go anyway see how it goes

We chat more about this Monday.

Cheers

sun
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Old Jan 22, 2005, 10:29am   #16
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roberk started this thread I'll be looking out for you Sun
An attraction of the site for newbie traders is that they can follow the best players. It's like they are standing behind the pro traders screen watching what he does.: mentoring at no cost.
I don't mind that at all because finally a trader has to find their own methods. I belong to a couple of futures chatrooms and learn the techniques of the pros there - but only take a few of their trades as I grow to rely on my own methods.
I learn from every game too- it's like trading boot camp. I've traded almost every day for the last 2 years but I learn more from a 2 hour game than from 2 or 3 days of trading.
I thought I was an aggresive trader, but in fact find I am timid. I put on several trades every day, sometimes more than 10- but they are often small size- so I cover over my fear of trading by taking many small trades when I should be considering the odds more and varying size, even going all in on occasion.

The games give me confidence too, because in about 90% I am in positive territory for at least part of the game (although sometimes I go back into negative because I try a desperate move in the leader is way ahead); and so even if I finally come second or 3rd it reinforces confidence in my skill.

Also in daily trading I tend to either give up or go on a tilt if I make 2 or 3 bad trades in a row. One game I had last week I was $130,000 down on the leader. I felt like throwing it in, but kept watching, saw a bullfag developing and made a nicely timed short, eventually winning the game with only a minute to spare: well I had nothing to lose so it brought out the best.

And stop and reverse: usually in daily trading I am ecstatic if I win, or down if I lose and have no interest in a stop and reverse. In the games I am learning how do do that- it is a whole 'nother level of trading and one that very few traders can master. I wouldn't be surprised if these gaming sites produce a new breed of aggressive and motivated traders。
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Old Jan 23, 2005, 5:31am   #17
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roberk started this thread
Quote:
Originally Posted by sun123
roberk

That's a shame they know the amount you stake. But you can confuse them by placing small stakes maybe. but they catch on to that In time.

So if one is good at trading, it would be still hard to make money, as the not so skilled would follow you moves.

sun
Not so bad Sun, because there is a few seconds delay (I should have explained that before) for the platform to show the trades entered, enough for the trade to have moved a tick or two.
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Old Jan 23, 2005, 10:05pm   #18
Joined Nov 2003
Hi

Roberk I have join the traders games. And I come across you name. I see you played the game. the game below that you won, what is you game plan, from what I see by the number of trades you place you are a scalper. is this correct

1 roberk 49 69,984
2 tafia007 35 32,769
3 skyline 5 (66,600)
4 biggcol 6 (202,800)

Also on your other game uncleFegg
won the game and i looked at the chart
and we had a nice trend going is this maybe
You lost this game as most scalpers lose
on trend days.Ho did UncleFegg get lucky
lol.all that said looks a good game.I be
Playing next week.


1 UncleFegg 6 116,073
2 skyline 15 103,648
3 IainMac 6 85,225
4 roberk 41 (34,230)
5 tafia007 10 (79,800)


On a 50,000,000 game what is you avr stake
Cheers

sun

Last edited by cj12; Jan 23, 2005 at 10:13pm.
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Old Jan 24, 2005, 2:57pm   #19
Joined Nov 2003
roberk started this thread HI Sun,
That wasn't you I just pipped in the closing seconds of the 180 pound game was it?

You're right, I am a scalper, hard habit to break after over a year daytrading the dax.
The stats are a little misleading though as I do scale out - so I might have done a couple of 50 milion trade but scaled out in bits.
I can't remember that game I lost, but yes if it was a trending day I tend to do worse than in a range, very perceptive.

Last edited by roberk; Jan 24, 2005 at 4:01pm.
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Old Jan 24, 2005, 10:15pm   #20
Joined Nov 2003
Trader Games currently offers games based on the Foreign Exchange (FX) Markets. They will shortly be offering a variety of Games based on other types of financial instruments, such as indices, equities and commodities.

They have only been going for 6 months.Anyone with views on this new trading style.basically You trade against 4 to 8 other traders. Games start from 20 entry fee to 250. so if there is 4 players and you play a 100 pound game you take the pot of 400. Least you know how much you are risking and how much you going to win.


Sun
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