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[back to top] [back to top] [back to top] Basic Information: Short Name: A single word that will uniquely identify the virtual portfolio across all Tivid. Long Name: A short description (usually 3-5 words) of the portfolio. Example: 2008 Large Cap Challenge Start Date: The starting date of the competition. In other words, the date on which order execution will start. End Date: The end date of the competition. There won't be any order execution on this date. The final order executions will occur in the last business day before the End Date. Last Admittance Date: The last day on which members can join to the competition. It can be either before or after the Start Date. Initial Balance: The initial virtual dollar amount that each participant will start investing. Message to Participants: Any extra information or message that competition starter would like to give to the participants in addition to what is produced automatically from the competition rules. Type: Individual: Each participant will compete individually. Group: Currently not allowed. Audience: Public: Selecting this option means that any Tivid member can join to this competition without any approval requirement. Private: Selecting this option means only members who will be invited or approved by the competition starter can join to this competition. Allow public to request to join: Any Tivid member can request to join to this competition. It is up to the competition starter to accept these requests. Allow Trading: The following equity trades are allowed: Stock Buy: Long stock trade Sell: Short stock trade Call Option Buy: Currently not allowed Sell: Currently not allowed Put Option Buy: Currently not allowed Sell: Currently not allowed Mutual Fund Buy: Long mutual fund trade Stock Price ($): Min: Minimum price of a stock to be eligible for trading. For instance, if competition starter does not want penny stocks to be traded during this competition, then he/she can enter $1 for this amount. This way, any equity whose underlying stock price below $1 will not be able to traded. Max: Maximum price of a stock to be eligible for trading. Market Cap (Millions): Min: Minimum market capitalization of the companies whose equities will be allowed trading. For instance, if competition starter wants to limit the competition to large cap stocks (usually over $5 billion capitalization), then he/she can enter 5000 for this value. Max: Maximum market capitalization of the companies whose equities will be allowed trading. For instance, if competition starter wants to limit the competition to small cap stocks (usually below $1 billion capitalization), then he/she can enter 1000 for this value. Privacy: The degree of visibility of competition portfolios. Public: If this option is selected then competition portfolios can be seen by any Tivid member. All Participants: If this option is selected then competition portfolios can only be seen by the competition participants. Friends: If this option is selected then competition portfolios can only be seen by the friends of the portfolio owners. Note that portfolio visibility can be extended by each portfolio owner. For instance, even if the competition starter selects to make portfolios visible only to those who participate in the competition by selecting .All Participants., each participant can elect to make his/her portfolio visible to all Tivid community by selecting .Public. option from the Portfolio Settings. The other way around is not possible though. Portfolio owners cannot change their privacy settings in a way to restrict further than set by the competition starter. Additional Options: Allow Margin: Allow margin trading. Participants can borrow as much as their account value. Margin Interest Rate: Annual interest rate that will be charged to the used portion of margin amount. Late Join Penalty (% per day): Amount of penalty that late joiners will pay for each day after the competition has started given that late join is allowed (Last Admittance Date is greater than Start Date). For instance, if a member joins to the competition two days after the competition has started whose initial balance is set to $100,000.00 and competition starter elects to apply 0.5% late join penalty then late joiner will pay 0.5% * 2 = 1% penalty over his/her initial balance, i.e. he/she swill start to the competition with $100,000.00 . ($100,000.00 * 1%) = $99,000.00. Credit Interest Rate: Annual interest rate that will apply to the positive cash balance. Order Type: Limit: Allow limit orders. Order executions will occur only if equity quotes reach to the target price entered by the portfolio owner. For instance, if portfolio owner wants to buy the stock of XYZ Company if and only if the stock price of XYZ reaches to $10.00, then he/she can elect Limit Order with the Price of $10.00. Market: Allow market orders. Orders will be executed from the market price. Portfolio owner can elect to put upper bound to his/her order though by entering the Price. The meaning of the Virtual Portfolio Competition status: NEW: Competition is not saved yet. COMPOSE: Competition has been saved but still under maintenance. Competition starter can still edit and make changes. No member can see the competition yet. PUBLISHED: Competition has been published. Authorized members can join or request to join to the competition. Once joined, members can start entering their orders even though they won't be executed until the competition starts. INPROGRESS: Competition has started, i.e. orders are being executed. ENDED: Competition has ended. [back to top] Transaction: BUY: Opening a long position. If you believe the stock XYZ will go up and you want to own the shares of XYZ, you select this transaction type. SELL: Closing a long position. If you have already bought the shares of XYZ sometime ago and you would like to SELL all or part of them, you select this transaction type. By definition you cannot sell more than what you have. SELL SHORT: Opening a short position. Short selling or "shorting" is the practice of selling securities the seller does not then own, in the hope of repurchasing them later at a lower price. In other words, if you believe the stock XYZ will go down and want to profit from that drop then you select this transaction type. BUY TO COVER: Closing a short position. If you have already SOLD SHORT the shares of XYZ hoping that its price will go down and close that position, you select this transaction type. Stock Symbol: The symbol of the company whose shares you would like to trade. For example, if you would like to trade the shares of Microsoft, you enter MSFT which is Microsoft's symbol in stock exchanges. If you don't know a particular company's symbol, you can just start typing the company's name. Auto-fill feature will help you to pick the right symbol Price: Price of the stock at which you would like to make the trade. Price should be thought in conjunction with Order Type. Order Type: Market Price is empty: If you would like to trade the equity from the market price. Your order's execution is almost guaranteed however you agree to pay the price set by the market. For instance, you would like to buy the shares of Microsoft from the market price and you have entered the order the night before. Next morning, Microsoft's opening price became $30.10. Your order execution price will be $30.10. Price is greater than zero: You would like to trade the equity from the market price however you don't want to exceed some certain amount. For instance, you would like to buy the shares of Microsoft from the market price only if the price of a share doesn't exceed the $31.00. In this case you enter $31.00 to the price field. You enter the order the night before. Next morning, Microsoft's opening price becomes $30.10. Your order execution price will be $30.10. If Microsoft's opening price becomes $31.50 then your order will not be executed since the opening price exceeds the max price of $31.00 that you wanted to pay for each share of Microsoft. Order Type: Limit Price is greater than zero: For LIMIT order type, you have to enter a value greater than zero. By selecting LIMIT order type, you would like to limit the price you are going to pay for each share of equity that you would like to trade. If this target price is not met then your order will not be executed. For instance, you have 100 shares of MSFT and you would like to sell them. However, you would like to sell them only if you can sell them for $31.00 per share. You pick the LIMIT order type and $31.00 for the price. You enter the order the night before. Next morning, Microsoft's opening price becomes $30.90. Since the target price of $31.00 is not met, your order will not be executed. If Microsoft's opening price becomes $31.50 then your order will be executed from $31.00. Quantity: # of shares: Enter the exact number of shares you would like to trade. For example, enter 100 here if you would like to trade 100 shares of MSFT. $ amount: The dollar amount that you would like spend for the transaction. This option is very useful when used in conjunction with MARKET orders. For example, you would like to buy the shares of MSFT from the market price and you would like to allocate $10,000.00 for this transaction. Since you don't know what the order execution price will be you cannot compute the number of shares to buy. In this case, you just enter $10,000.00 to this field. Tivid computes the number of share you can buy after determining the order execution price and commission you are going to pay during order execution. Order Type: See Price section above. Expiration: DAY: Your order will be valid only for one business day after the order is entered. If the order execution fails since target price is not met for the DAY then your order will be cancelled. GTC(Good Till Cancelled): Your order will be valid until you explicitly cancel it and the order execution will be attempted as long as your order is valid. Justification: Try to explain why you make this trade. Though this field is not mandatory, Tivid encourages you enter any justification for your trades as this will increase the communication in the community and you will probably get useful feedback about your trade. [back to top] [back to top] |
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| All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Tivid nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. |
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