we should have cycles or something. like a competition that lasts for 30 days and then the winner at the end gets a prize. I know that its a small time thing but the prize could just be stickers or something like that. something skimonkey can get from free from the ski companys or any other promotional products that deosn't cost him anything to get. LOL
Absolutely. There are a few more things I want to finish developing and then I wanted to implement competitions. One thing I've been trying to figure out is how to start it smoothly. A couple options I've been debating:
- Reset everyone's portfolio back to $2M and go for 30 days, 45 days, etc. pros: everyone back to ground zero. cons: likely some huge price swings in the stocks that don't reflect the stock's probability of occurring.
- Pick a date and record everyone's current value, then after 30 days, figure out the greatest percentage gain and they are the winner. pros: no big price swings, should be smoother transition, stock prices should better reflect probability of occurring. cons: come into game with existing positions that could skew a user. of course, the price could tank on a stock in someone's existing position so it would likely even out.
Also, throw out prizes you guys would be interested in winning. The first couple are probably going to be small, but I would love to be able to get to the point where I could give out an ipod or like an xbox or something. Of course, those prizes might be a few thousand member signups away.
Well couldn't you reset everyone back to 2 mill and reset the price of the stocks as well?
Reseting everyone back to 2 mil is ideal, i'm just not sure how the community would handle it. The price of the stocks wouldn't be reset because it would negate the predictive nature of the stocks.
skimonkey Wrote:Reseting everyone back to 2 mil is ideal, i'm just not sure how the community would handle it. The price of the stocks wouldn't be reset because it would negate the predictive nature of the stocks.
you couldnt set the accounts back to zero with out resetting the priceof the stocks as well. i mean at 2 million how could somone pick up howard at 580 a share now, jhust an example but it got so high cause people make money. i think the only way to do it, that would be fair is take a snap shot of asccount values. then see whole has had the greatest percentage move in the last 30 days or whatever time frame you want. i would be really pissed if my account value was reset. i dont really caare about the copitition part any way i just use the site as a procrastination tool.
at the same time think about it this way, are you going to reset the values eveytime a new time period for the compititon starts. i think taht would make way to many fluctuations to begin with, everybody hurring to get thier postions back and all. in the real markets people get in and out all the time. performance is always measured by a percentage.
Yahoo used to have a stock market game that you played based of real market prices, but with fake money. I think that reset every month and you started over, but of course because it was based off real prices they didn't reset. If a stock is too expensive for the game then the admins could choose to have it split, like the company does it real life.
The only problem is some of the stocks in the game are extremely long-term, and resetting the holdings every month would screw those up and almost make them worthless.
I think any competition should be based of % gain, not dollar value. It would make gambling on a long-term stock actually worth while.