Creating a Tournament Alternative To Financial Markets

[mrktspeculate]

So not trying to promote anything but am genuinely curious if the day betting/tournament crowd here will take to this. I've been a trader the last almost 7 years (focusing now primarily on equity futures) but my solopreneur mindset is taking me on an added trajectory as of late.

A very basic platform to allow traders to engage in a tournament style competition to wager a fixed amount on individual skills where they think a provided stock will close out by the end of the session. My goal is to shift the ODTE options crowd and other niche aspects of the trading world in a different direction. Right now I am setting up a platform for 1v1 and 5 player free-for-all. I could go over the whole legality talk but channeling the tournament style (like Players Lounge), yes it is legal.

The site hasn't launched yet (within the month I want to launch). What are your alls thoughts? Genuinely curious on ideas I could potentially utilize from this community. If you have any questions just reach out. Appreciate you all!

 

[Enivid]

I'm not sure why would a trader want to risk their money in such a tournament rather than use them as a trading capital for "normal" trading?

 

[hayseed]

I'm not sure why would a trader want to risk their money in such a tournament rather than use them as a trading capital for "normal" trading?

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hey enivid....... might be fulfilling the urge to gamble, at a lower net cost.....

there was a study done in 2009 on tawian traders..... it found trading dropped about 25% when the lottery was introduced in 2002.....

Just How Much Do Individual Investors Lose by Trading?

my take on that paper was trading is very similar to eating...... we can spend the time, money and energy driving to town to spend 100$ at outback steakhouse, or eat a bowel of cereal......

fulfilling the urge to eat, at a lower net cost..... h

 

[mrktspeculate]

Thank you guys for reaching out on this post. Its late here in the States. I will get back to you tomorrow!

 

[LuigiSchoen]

It's an intriguing concept! Offering a tournament-style alternative to financial markets could attract a diverse crowd of traders. Looking forward to seeing how your platform unfolds and how traders respond to this innovative approach. Best of luck with the launch!