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Boredmum's Blog
lse.co.uk Fantasy Share Game
Tue, 9th Mar 2010 - Author: BoredmumThere are many Fantasy Share Games out there. Some of you might have had a go at them.
Over the last two weeks I’ve had the privilege of testing a Beta version that LSE are about to roll out. My understanding is that Premium Members will be the first to trial it and should have access today, it being made available to all other members around April 5th.
For me, it was the first Fantasy Share Game that I had tried. There were 2 test games running; one to last 1 year and the other to run for 2 months, both with a starting fund of £10,000 (I have £10,243 and £10,421 in the respective ‘pots’ at the time of writing).
The trading platform is quite good. You can put in ‘Limit Buys’ or ‘Trade at best’, view your portfolio, see your previous transactions and, more importantly, see how you are trading against others in the game.
You can also try starting a game of your own. I have started a game with £1,000 to see if I can increase it or alternatively see how fast I can run it down. For anyone that reads the postings of Moosh on Premium Chat, you will see he is having nice success with this method in real-life trading. I currently have £1,040 in that pot, so it can be tough.
On a serious note, I feel that it would be great for people who are new to trading to play. This is as close to the real thing as you can get, so it can be a great learning experience.
For experienced traders, try new things - a fairly safe portfolio, a high-risk portfolio, or one exclusively for day-trading.
Of course, there are differences to real life trading. I managed to very easily purchase shares in Goldstone Resources (TIDM code: GRL), but in real life I had to keep trying into the next day as I couldn’t get a quote. It’s worth remembering in real life that sometimes it is hard to sell the quantity you choose to, especially on a falling share price. I would imagine it would just be a simple ‘click’ to sell within the game.
I have found also that you react much quicker in the game. My reasoning is that there is no emotion as it is not real money. In my experience, this makes you a better trader.
I look forward to the game being rolled out, although on a purely selfish note I’m sure I shall quickly lose my #1 position! I hope you guys enjoy it as much as I have.
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"how the hell do i find my fantasy shares"
- juzza444
"Hello my darling."
- Joker199
"Oh Herring, lucky you getting in on CHL. I do hope that I have called that one right. First brought to my attention by GedW and I've been in and out since around 30p and now hopefully waiting for 'pay day'. IOF was mentioned to me some time ago, I put it on my watch list and watched it go from High 70's to high 30's. I never ever looked any further than sp as it just kept dropping, I do hope it has found the bottom for you now. I will take you up on your challenge if lse will be kind enough to agree to forward prize or details when the time comes. (I should probably check out your choices on stockchallenge now)."
- boredmum
"Boredmum, lets hope they pay off! i got into CHL last week before IC recommended them, put it in my SIPP along with MTA @ 4p! brilliant. but IOF plummeted reducing the effect of the MTA :( As for stockchallenge i'm currently 10th, not bad for a part time duffer. fancy a wager on who's highest at year end, a bottle of champers?"
- Herring
"Hi Herring, I've just read your post again. Yes, that's me on stockchallenge. I have some risky picks (namely MMS), I call it my 'multibag or bust' share. It will be interesting to see how I perform on the year, I do need VOG to also get some good movement, other choices like CHL shouldn't be a worry (she says as it covers a fith of my overall portfolio). Are you there too?"
- boredmum
"Herring - Yes the game is good fun and keeps me occupied when I don't want to trade for real. Lots of people have now joined and one game has over 60 players. Yes, that's me that was swiftly knocked off no.1 now that I have some real competition ,no offence Admin ;-). A prize for the yearly comp. is a good idea, we should suggest that to Admin."
- boredmum
"Hi boredmum, i hope your well? i think takeiteasy has it spot on with real life vs fantasy shares. i wish my dealings in real life were as good as those in stockchallenge! still it looks like it could be a bit of fun and if the banter can get going it should be a laugh. are lse putting up any prizes? ps is the boredmum on stockchallenge you? ATB"
- Herring
"Osaki - I have yours on my slow p.c. that takes a lifetime to switch on. For quickness I've sent it to our mutual friend to pass on ;-)"
- boredmum
"takeiteasy - I totally agree about emotion. Take yesterday for an example, I had to cut a day trade and lost £170, I knew it would bounce back at some point but had to accept that I didn't know how far it would fall and I had already let it run too far. I bought some in the game also and of course sold tjose at a profit today. That's the reality."
- boredmum
"BM, I've lost your email address. Could you drop me an email asap as I've a chart I think you should look at. "
- OsakiSushi
"hi boredmum, the problem with this is fantasy share dealing is not real money, hence no emotions are needed because it doesnt matter if you make or lose money, but in real trading it is all about controlling human emotions, psychology and having good risk management, this is the core reason why 90% of traders lose because they are too emotional, they dont have good risk/money management and do not understand the psychology of the markets. it is the same with using demo SB accounts, or bullbearing, etc, when using fantasy money it is completely different to trading with real hard earned money and hence its not as easy to buy/sell when trading with real money, with the fantasy share dealing risk management would go out of the window, most people would be buying amounts that they wouldnt really buy with real money and if they did then the emotions would be flying all over the place, hence the trade would be a poor one. those of you who do participate in the fantasy share dealing you must try hard to think of it as real money and not gamble it away, make trades that you would be making with real money, and adapt good risk management by only risking 2-5% of your monies on any 1 trade, and dont lose that discipline. p.s. also try not to be too competitive as im sure most are, lol. ATB"
- takeiteasy