Discussion in 'Shares' started by Simon Hampel, 9th Jul, 2008.
ASX Sharemarket Game: registrations open soon - ASX - Australian Securities Exchange
Thanks, I have just registered.
Anyone else playing?
And here is my watch list
I'm in, I play every year.
The best strategy I find is to forget everything you know about diversification and put all your eggs in the one basket and follow the popular stocks. I generally buy a company before it announces its 6 or 12 month earnings and bet on a positive surprise.
It worked really well back in 2006 when i was ranked #3 in country & #1 in SA and had 3 weeks to go....until I back a few wrong horses and compounded my loses to a point of no return should of gone to cash.....
I'd probably do the opposite in todays market and avoid investing in a company that will announce its earnings during the game period.
Just registered, this will prove interesting!
Just registered, lets hope I go as well as my AFL dream teams
Thanks for the notification.
I used to play, but I found it somewhat pointless. As Young Gun said, you end up taking a completely different approach to what you would in real life (unless, perhaps, you are a (shudder) trader). The only way to get good results in such a short timeframe is to take outrageous all-or-nothing punts, and a lucky few tend to shoot out into the lead. Lucky being the operative word.
So the winning strategy is to set up a dozen different ID's and take outrageous punts in a dozen different directions all at right angles to each other, and see which one does best. If you end up doing amazingly well, you nod knowingly to those around you and try not to mention the other 11 ID's, of course.
In the real world, I usually aim for unremarkable, steady-as-she-goes consistency. So I'm just left wondering what the point of the game is. Also, if you somehow managed to convince Warren Buffet to play the game, I would suggest that if he used his successful real-world techniques in the game, he'd probably end up about where he started. So what does that tell you !
It's fun. But I'd put it more in the same league as Footy Tipping.
For newcomers to the market it would be beneficial, ie for those who arent looking to win but who are looking to get some experience without risking real dollars.
Its not all about winning after all, as long as each individual gets something gains something from the experience thats all that matters.
Anyone playing the game?
I am hanging in there so far.
I am above $50K but not by much.
I am actually dissapointed that they don't let us buy from all ASX listed stocks.
How's everyone going in their game? my ummm "strategy" of not starting straight away has paid off.
Currently I have a portfolio worth ~$53,750 @ the end of play 7/10/08
National Rank: 240 of 15,682
SA Rank: 11 of 1,258
my strategy so far has been to sit in 100% cash until the market takes a dive, pick up some bargins then sell at a profit hopefully the next day.
I gave up trading earlier on because the markets are too unpredictable and I have neither the time nor the interest to be trading all the time.
Also, I was annoyed that some of the ASX listed companies I wanted to pick were not available.
I gave up with my portfolio was around $52K.
The max it ever got to was $53K and having a look at the portfolio it's now sitting around $48K
I am a buy and hold person but these days this strategy doesn't work.
In order to make money today you would have to be watching the market and to be trading daily.
The game did teach me one thing though.
The only thing I should be holding on to is my cash...
So you have a good strategy, stick to it.
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