We are very happy to announce a new change in the way our pricing and contests will work.
To provide real time stock and crypto price data, as well as open up the pathways to new contest types in the future, the stock and crypto prices are now updated every 5 minutes in all scheduled stock and crypto contest.
How does this effect the contest?
Contest now can have a longer joining periods with real time stock/crypto price data. Contest are no longer a 24-hour swing trade, they are now reflective of the intended trading period.
What this means for picking?
Unlike the previous version, Stock and Crypto price data for contest are now updated constantly, prior to the start of the contest. This new change will require more attention to the fluctuation of your portfolio balance prior to the start of the contest since we have also removed the 10% budget buffer from both stock and crypto contest. You will now be able to use your full 10K budget in stock contest and 100K budget in crypto contest.
Exp: In the span of time between joining a contest and it’s start, one of two things will happen to your portfolio. The portfolio may experience downward fluctuation due to falling prices of the chosen stock/crypto, in which case more of your allotted capital will become available to spend. Conversely, their may be upward fluctuation due to rising pricing, in this case you will have less capital or even find yourself over-budget. If you are over-budget when the contest starts then the system will automatically shave off equal amounts of shares from each stock/crypto to bring the portfolio back under the allotted balance. It would be beneficial to check all contests prior to its start to see if you are over-budget and shave shares at your discretion or spend any newly available capital.
We want to provide our users with real time data on all assets on our platform. The new system will also give us the freedom to create different forms of new contests; Day Trading, Half Day Trading, Open Portfolio and Margin Trading contests are now possible and are in development.