….and so the legend continues, Mancathlon 2010. To get the ball rolling first up is the bonus round.
The Event: Virtual Trading
The Date: Tuesday 13th September to Friday 12th November (9 weeks)
The Time: 9:00am markets open
The Place: http://virtual.nzx.com/
The Cost: $50,000
The Mish: Buy, sell and hold your way to Mancathlon glory by having the highest account value on the close of business 12th of November 2010.
The Rules: Get on the NZX website and set up a new account. The default setting should give you $50,000. Once you have an account you can trade futures, options and equities on the New Zealand stock market.
At the end of 9 weeks the Mancathlete with the highest account value over $50,000 will be the winner, similar to the casino challenge whereby the $50,000 starting amount acts as a zero point. Technically you can be ultra conservative and leave your 50K as cash and you wont lose money…..but that would be for wusses….with small testicles….and not very manly.
There is an option to deposit more funds, however, Mancathlon rules do not allow this and you must only trade with your 50K starting amount. Any deposited funds will show up in the activity summary so you will get busted.
Last allowable trade is the close of business Friday 12th November, following this send me your trading activity summary and we will determine a the winners. There is an option to send this as an excel spreadsheet.
If everyone is keen I suggest we have a mid point check in see how the event is unfolding. Over the weekend following friday 15th October.
Theres plenty of information on the NZX site on what all the technical jargan means and numerous “help” menus. Some of it gets pretty mind boggling so you can make it as easy or as difficult as you want. The easiest option is to “trade equities”. This is basically where you buy and sell shares.
Well that the basic outline, any issues, spread the word.
Good luck everybody and remember its a volatile world out there.
some useful links.
http://www.stuff.co.nz/business/market-data/
http://www.investopedia.com/articles/01/071801.asp
Traders tip #1. buy low, sell high
- Thom











