Sharky
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I've come up with an idea for a new competition - not to replace the existing one, but a simple one that could prove to be fun to play and at the same time help to gauge market sentiment for the week ahead.
Essentially it would work like this...
The game would run over 4 weeks (as the exsiting one does).
Each week you would be asked to predict where an index (probably the FTSE 100 or DO) would finish at the end of the week (Friday close) compared with the Close of the Previous Friday. So you have a choice of three options:
1. Higher
2. Lower
3. The Same (+-1%)
Now you can enter your choice from sunday through to thursday night. You only get one choice and you can't change your mind during the week. So what's the incentive of predicting on Sunday close as opposed to Thursday night - when you've got a much better chance of guessing correctly. Well, the difference is the points you get if you're correct, which works as follows:
Points Awarded for Correct Prediction:
Before Monday Open: 5 points
Before Tuesday Open: 4 points
Before Wednesday Open: 3 points
Before Thursday Open 2 points
Before Friday Open: 1 point
If you're worng you don't lose any points, you just don't gain any either.
Additionally to make it more interesting you could make a prediction as to what figure the market will close at on the Friday, and whoever is nearest or within say 10 points get san extra 5 points.
There would be a leaderboard, and scores would be updated at the end of each week - and the winner or winners with the highest number of points at the end of the four weeks would hopefully share a small prize (to be decided).
It's a simple game, but could be a good indicator of market sentiment - as a matter of interest, and a bit of fun at the same time.
Let me know what you think... I propose to start either next Monday or the one after.
Cheers
Sharky.
Essentially it would work like this...
The game would run over 4 weeks (as the exsiting one does).
Each week you would be asked to predict where an index (probably the FTSE 100 or DO) would finish at the end of the week (Friday close) compared with the Close of the Previous Friday. So you have a choice of three options:
1. Higher
2. Lower
3. The Same (+-1%)
Now you can enter your choice from sunday through to thursday night. You only get one choice and you can't change your mind during the week. So what's the incentive of predicting on Sunday close as opposed to Thursday night - when you've got a much better chance of guessing correctly. Well, the difference is the points you get if you're correct, which works as follows:
Points Awarded for Correct Prediction:
Before Monday Open: 5 points
Before Tuesday Open: 4 points
Before Wednesday Open: 3 points
Before Thursday Open 2 points
Before Friday Open: 1 point
If you're worng you don't lose any points, you just don't gain any either.
Additionally to make it more interesting you could make a prediction as to what figure the market will close at on the Friday, and whoever is nearest or within say 10 points get san extra 5 points.
There would be a leaderboard, and scores would be updated at the end of each week - and the winner or winners with the highest number of points at the end of the four weeks would hopefully share a small prize (to be decided).
It's a simple game, but could be a good indicator of market sentiment - as a matter of interest, and a bit of fun at the same time.
Let me know what you think... I propose to start either next Monday or the one after.
Cheers
Sharky.
