Wednesday, August 18, 2010

GLITCH

Ok, so a lot of you are wondering how in the world I more than doubled my contest portfolio. I'm just that good. Just kidding.

First, let me explain that as a Kapitall employee, I am not eligible to "win" the contest. I do not get first place, I do not receive a prize. I am simply here to increase the numbers of the contest and increase your chance of winning.

Now, how did I double my portfolio? A glitch, and luck. I found a glitch in the system and was playing all of the scenarios with it so I could send it in to our programmers. I bought as many shares as I could of a certain stock, because I know that it trades between a 2 cent range. I bought at the low end of the range and sold at the high end. The glitch, though, was that I was given an extra amount of cash, so I put that into the stock when it was low as well. It acted as a margin account, so when I sold, it took back the amount it gave me and let me keep the profit. It's not supposed to do that.

The other part of how my portfolio doubled was a lucky penny stock. I bought it at $0.0001 and sold at $0.0002, so I was able to double what I put into it. I DO NOT SUGGEST DOING THIS. IT IS SIMPLY A GAMBLE AND NOT A WISE INVESTMENT DECISION. There are many things that can happen to a stock that has that low of a value, including the bankruptcy of the company.

So that's how I duped you all! Sorry for the scare. You all are still competing fairly with everyone else (hopefully nobody is cheating, because WE. WILL. FIND. YOU). Good luck everyone!

-Danny Guttridge


Fair Contest. Opening an account at KAPITALL is absolutely free of charge and the decision to enter the Contest to win real prizes is subject solely to the User's decision. Delayed feeds from U.S. equity markets are available on the KAPITALL platform, provided by fully licensed data providers. The system has been constantly tested to provide our users with a fair, secure and transparent trading environment. Our fair gaming policy is very strict; we make it our business to assure that each member is not being abused or exploited, by any fraudulent activity attempted by other players. In case you have encountered any fraudulent activity attempt or have been a victim to one, please contact KAPITALL immediately. Fraudulent activity affects all contestants. This type of activity will not be tolerated at KAPITALL and be caught engaging in such activity will be banned from using KAPITALL infinitely. Rest assured, KAPITALL reserves the right to eliminate a winning portfolio and not reward the prize in case of any fraudulent measures, including any actions made by the player that are not in accordance with the Contest rules or KAPITALL policies.

7 comments:

  1. One of your roles here at Kapitall is testing. Thanks for finding this glitch. Actually, we appreciate anyone who finds a bug.

    For contest purposes this would eliminate a participant from winning because it, "goes against the spirit of the competition". In other words, find and exploit and we love you. Use an exploit and you are eliminated from prizes.

    David Neubert
    Co-Founder (Head of Trading)
    Kapitall

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  2. BURN HIM BURN THE WITCH!!! J/K
    With Danny out the rest of us stand a chance!

    Seriously though, good job trying to "game" the game. It can only end in a better product. If you Kap's are reading this I along with many others would love to see how people are pulling off their gains in the contest.

    I mean it's one thing to see a bunch of percentages and stuff, but it would be so much more cool to see what people are investing in currently to grow their $10K.

    Maybe like a mutual fund type view with top 5 holdings or something? I could honestly care less about the how you do it. It'd just be cool to see the how "we're" doing it.

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  3. Haha! Don't burn me!

    We're actually writing a list of things that we personally would like to see changed for the competitions, so any feedback you have in relation to them would be great! Feel free to send me ideas at danny.guttridge@kapitall.com

    Thanks!

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  4. ok, i played the penny stock gamble today, not cheating, and made %80. Will that disqualify me? Granted it wasnt "sound" investing, but after reading alot of blogs and penny stock advice, I decided to dump it all on this stock. It jumped, i sold, and now im sitting at $18k. Sould be ok right?

    Thanks

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  5. Andrew,

    I saw that you took the gamble on "Ulysses Diversified Holdings Corporation (UDHC)". It really paid off for you. No worries. I tracked your investments and saw that you did everything under the book. I think it is very brave of you to take that Gamble. Congratulations on your success.

    -SUGARSUREN BYAMBASUREN
    Summer Investor Team

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  6. Thanks Sugarsuren,

    Im new to the whole investing thing, Im more of a gambler at heart. However, in the interest of keeping things interesting, Ill still be investing a decent chunk on risky stocks. Granted Ill still try and keep the lead, but Id like everyone to still try their hardest to catch up. Thanks for the amazing platform to teach us laymen the trials and tribulations of investing. The mysteries of wall street are finally melting down to mere riddles.

    ReplyDelete