RULES OF THE GAME
STARTING (BEFORE ROLLING THE DICE). At the beginning all players (traders) will have $1000 starting balance in the broker account, offered 100:1 leverage by the broker and one A6 Guide card. This card should be kept as a reference guide to assist in calculating pips, lot sizes and spreads to decide whether certain trades are worth taking or not. For example; the amount to risk on any particular trade.
START by picking your chip then with the roll of a dice move your chosen chip clockwise. There will be no trading activities in the first 4 weeks. ONLY Quiz and News! So when a player lands on a Quiz or News day then they can pick the Red (Quiz) or Yellow (News) card. Trading starts after going past START (1st 4 weeks is your training course where you familiarise yourself with the knowledge booklet and your Guide Card)
Trading Days: Traders are given both profitable and losing trading opportunities when they land on a trading day. The player has the option of taking the trade or refusing to enter the market.
Rest Day: The are NO activities on a rest day.
Bank Holidays: The are NO activities on a rest day.
Every time a player enters a trade they are entering into a contract.
An example of a risk/reward ratio of 1:2 – eg; If a trader had a trading capital of $1000 and took a trade on a Standard Lot size (1 Lot = $10 for every pip in profit) and their Target Profit (TP) is 10 pips then their Stop Loss (SL) will be 5 pips. Their potential profit will be £100 but if the trade should go against them then they will suffer a loss of $50.
Quiz: Answers to the Quiz have to be cross-checked by the broker only! If an incorrect an is given by the trader or 2 or more Traders doubt that the Broker is being dishonest then they can check it. If the Broker is found to be DISHONEST the Broker will be required to REFUND EVERY DOLLAR OF FEES CHARGED to all the traders!
Winner: At the end of the game the player with the net profit and most consistent profits wins.
Losers: Due to the nature of the game a trader (player) can easily run out of their capital due to poor risk management causing them to quit while the rest continue playing.
The 5th player is to act as the broker.
For the benefit of this game we shall use pips only and not pipettes.
Note: JPY pairs have only 3 digits after the decimal eg; 1.123 but every other pair has 5 digits after the decimal eg; 1.12345
Brokers Role:
- To entice fellow players to trade every opportunity
- Picks the 2nd Trade (blue card) to reveal result of trade taken a particular player to that player. (so the image is not exposed to other players)
- Cross check Quiz answers in knowledge book in the case of a dispute
Guide Card: The A6 size card will be handed out to all players as an aid for working out pips, spreads and lot sizes.
The next page reveals the CONTENTS OF THIS GAME …..