|By PR Newswire||
|March 27, 2014 07:17 AM EDT||
LONDON, March 27, 2014 /PRNewswire-iReach/ -- Flick a Trade—the only reality trading game using live market data—just got more real by adding competition: In newly-released version 3.3 for IOS, players can test their trading skills against competitors around the world, entering timed challenges that reward top scorers. "Competition is key, and relative performance is a very meaningful measure of success," says Kerem Ozelli, CEO of Cygnecode, the makers of Flick a Trade. "It's more fun to play against your peers, although Flick a Traders can still play on their own too."
In this latest iteration, new players earn 5,000 Flick a Trade (FaT) dollars for completing the interactive tutorial. They then try to earn additional FaT dollars by playing solo against the market or by entering multiplayer challenges to compete against other gamers. Flick a Trade runs a variety of multiplayer challenges, some international, some localized, which typically last 24 hours.
All challengers trade specified live markets for a set amount of time to register a score—a direct reflection of the profit or loss they generate during their trading session. At the end of each challenge period, top scorers earn a scaled share of the prize pool, with first place winning the most FaT dollars and so forth. Flick a Traders can enter the same challenge multiple times, increasing both their chances of winning and the size of the pool. Also, they can claim a prize so long as they outperform other players, even if they don't actually beat the market.
Flick a Trade lets players enjoy the thrill of trading risk free. It is a novel audiovisual game experience that streamlines market interaction to make it more intuitive and fun. Using only familiar mobile gestures, such as flicking, pinching and tapping, players can trade more than 70 different instruments, including currencies, commodities and indices, available 24/5. On weekends, when markets are closed, they can trade five fantasy commodities: kryptonite, octogen, nucleon, diamonium and galvorn.
Single players profit from correctly gaging market direction. The game is designed to help players develop key trading skills, readily transferable to the real world. For example, players must limit their losses by specifying upfront how much they are willing to stake and for how long they want their trading session to last, from one minute to one day. They can never lose more than they stake, nor can they enter into open-ended games of the sort that end in the real world only when they lose everything. Players can cash out at any time. If they lose their stake, they are out of that game instantly. Alternatively, at the end of each solo session, players keep whatever they make.
Additional design features serve to eliminate other mistakes that aspiring traders often make. For instance, because different instruments have different price movements and risk levels, the game sets standard, risk-adjusted trade sizes for each one. Also, how much a player stakes automatically limits their transaction power in terms of trade size. They cannot blow their entire stake on one bad call but instead build up a position of 20 separate open trades. In this way, they can trade at different prices and try to shift the distributed average in their favour. Similarly, players can take positions in many markets simultaneously, using gains in one to absorb losses in another. They can go long (starting with buying) or short (starting with selling), benefiting from both upward and downward price movements.
"From the performance stats, we see people becoming better Flick a Traders all the time," Ozelli says. The more they play, the better they get—from spotting trends and hot markets to mastering an array of strategies for pulling high scores. Persistence pays: Because scores accrue over multiple games, even average players can accumulate big winnings without ever making massive windfalls in single games. "The stats underscore the reality that trading is a game of skill," Ozelli adds. "It's social, it's competitive and it offers better odds than any other chance game around: Even beginners have a 50% chance of winning as markets can only go up or down."
Cygnecode is a London (UK) based technology company with offices in Vienna, Austria and Dresden, Germany. They are an experienced team of finance, technology, design and media professionals who have worked together—across borders, across disciplines, across corporations—for many years. They develop trading games and gamified trading applications.
To view this video on YouTube, please visit: http://www.youtube.com/watch?v=aotKDewBwYM
Media Contact: Kerem Ozelli, Cygnecode Ltd., 44 20 7193 8426, [email protected]
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SOURCE Cygnecode Ltd.