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When 300 traders traded together...on a holiday!

Singapore

“Buy more”, “Short”, “Stop loss” shouts filled the air as 300+ traders cheered their colleagues, trading on a giant screen in the AFACT trading finale. It was a US market holiday on 3rd July, but Trade A Minute got Singapore's traders trading on compressed historical prices to win grand prizes on offer at AFACT's (Association of Financial and Commodity Traders) 6th anniversary dinner.

With the theme "Trading Around The World", the popular event was co-sponsored this year by 9 exchanges - CME Group, SGX, DGCX, Eurex, HKEX, ICE, JPX, LME and TPEX - as well as prominent brokers such as UOB, Phillip Futures, KGI Ong Capital and technology providers such as Trading Technologies, RTS and ION. Platinum sponsor CME group unveiled their “Futures Institute” for encouraging financial education.

The committee had hit upon a brilliant idea to make the dinner fun and relevant. What if guests compete in what they enjoy the most - trading? The trading competition was to happen in 2 parts – A Pit Trading game followed by the shift to Electronic Trading through Trade A Minute.

"Traders bidding in pit trading"

Part I: The pit trading game was conducted by AFACT’s Mr. Leonard (better known as Led). Each of the 33 tables placed positions of +/- 10 lots per round. The market 'close of day' price was announced using a random draw. The game, just like a pit trading environment, generated a lot of noise, cheering and some aggressive trading. After some very close tie-breakers, three tables made it to the finale.

"Traders on electronic trading through Trade A Minute mobile app"

Part II: Shifting to the electronic era, Trade A Minute compressed real historic price data of 3 months into just ~1 minute game scenarios, offering the perfect platform for the finale

  • Dinner participants had gotten the link to download the free iOS and Android app for practice prior to the event
  • Each of the 3 finalist tables sent forward 3 representatives from each table for the show-down on stage
  • With a customised group challenge, the leaderboard showed the leaders in real time
And the finale started with trading S&P E-Mini contracts from CME
FUN: "I would sell my house and buy buy buy..."- trader in the audience looking at a great buying opportunity in the chart pattern on Trade A Minute
Projected on giant screens, it was live trading in action as the finalists bought and sold to technical indicators and news. Not only the finalists, but also the whole audience got into the action as the hall soon filled with recommendations to “buy” and “sell”
LEARN: “No, I wont buy or sell at all until I see a good opportunity” – Ronald from Phillip Futures who chose to not take any trades on his turn. That’s called risk management!

The 1 minute games saw teams play conservatively on SGX's A50 China contracts, some aggressive trading on DGCX's INR and even a "just stay out of the market" strategy by Ronald with no trades. The 'game of the evening' happened when a trader made more than $3000 on LME Copper and effectively sealed her team's spot. The final team fought with big positions of +250/-250 and nearly pulled it off until a sudden volatility in the markets wiped out early profits made. Some lessons to learn here on Risk Management and Position Sizing.

Within a span of 30 minutes, the traders had seen the ups and downs of markets, stop losses, profits made and even some market crashes! 

Playing on real historic data in such a fun, fast and real manner brought out the competitive traders in everyone. Even as the winning team took back attractive prizes, people could be seen discussing the games and sending Trade A Minute challenges on their mobile to others much later in the evening!

EARN: Winning team was awarded attractive prizes of $1200!
Want to try the game? Download the app today!
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