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Instructors and Organizers
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| Boulevard Stock Challenge Rules
- To be able to own and/or participate in a Stock Challenge, you must be registered with Stock Boulevard.
- To login to a Challenge, you must have the Challenge Name and Challenge Password.
- No trades can be placed after the last day (end date) of the Stock Challenge in question.
- Everyone begins with a pre-determined cash value specified by the Challenge owner. This cash value is to be invested (long or short) in any of the 30 stocks in the Challenge. You do not have to invest all your money at once, you may place trades up to and including the last day of the Challenge.
- Each trade has a minimum investment level. This level is 1.5% of current cash or margin (which ever is larger) on hand. Example: If your cash on hand is $25,500 and your margin is $30,000, then your minimum investment level is 30,000 * 0.015 = $450.00. In this case the next trade placed must have a total value greater than $450.00
- Each trade has a maximum investment level. This level is 30% of the current cash or margin (which ever is larger) on hand. Example: If your cash on hand is $45,000 and your margin is $14,000, then your maximum investment is 45,000 * 0.3 = 13500. In this case the next trade placed must have a total value less than $13,500.00
- Trades may be placed at any time during the day or night. Orders placed at market will be filled when they are placed. This means that if you placed an order at 9:45pm to perform an action at market price, the order will be filled immediately. Any orders placed after 4:30pm will be filled instantly the next morning at market. You can think of it as Stock Boulevard filling the trade for you the next morning on your behalf, and covering any theoretical difference.
- The portfolio value is determined by closing out all long and short positions with the current price of the stock as known by the Stock Boulevard databases.
- The active orders section consists of stock orders which have a good until date in the future and a limit price which has not been reached yet. If a player goes long on a stock with a limit price, then the value of that order is subtracted from the player's cash. If a player goes short on a stock with a limit price, then the value of that order is subtracted from the player's margin.
- Each player has margin equal to 2 times their portfolio value, to a maximum of 2 times their initial cash value. Margin can only be accumulated by placing Buy orders. A player will lose margin buying power once their cash value is less than -1 times their initial cash value.
- There are no commissions for any type of order in the Boulevard Stock Challenge.
- The rankings of the participants in a Challenge, is determined by closing out all long and short positions with the current price of the stock, as known by the Stock Boulevard databases.
- The currency of a given Challenge may be either Canadian or American. If you are not sure, click the details tab from the menu.
- The owner of the Challenge may specify a required wager that every participant must pay. It is the responsibility of the Challenge owner to ensure that everyone pays.
- A player may short sell a stock only on margin. If the cash value of that associated player is less than 0, then that player will not be able to short any stock. The total of a player's short positions can only be to a maximum value of the initial cash. After that, the player will no longer be able to short.
- If a player is short in a stock, then this means he/she is long in some other stock. Short positions can not be made without creating insurance (going long in another stock). If a player is short in stock(s), then he/she must have 50% of the value of all shorts, long in some stock(s). Example: If the value of all the long positions is $50,000 and the value of all the short positions is $20,000. Then this player can sell $50,000 - ($20,000 * 0.5) = $40,000 of his/her long position if desired. The other $10,000 is held as leverage or insurance on your short.
- The Boulevard discount brokerage requires 24 hours after a long or short is initiated to recieve the stock. This means that during the 24 hour period from when a player initiated a long or short position, that player will not be able to close out the associated position. Example: If player A purchases 100 shares of RIM.TO on the 24th at 3:00pm, then player A will not be able to sell those 100 shares until the 25th at 3:01pm. The same holds true for after hours. This is standard for most discount brokerages; including the Boulevard Stock Challenge.
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