The experience of our first trade club meet was really amazing. When novice players set out to unfold the treasure in INOX with meagre ten one rupee coins, one can easily visualise what the scene can be! In other words it was a first hand experience in commodity trading in a simulated market. To start with we had ten one rupee coins as token money and we were suppose to maximise our profit by buying or selling different commodities. The first round was a demo one and the chaos and confusion of the players went far beyond the real life situation. Anyway it was soon brought under control by diligent effort of the moderators. The demo version gave a good feel of the game and the real game started soon after the demo one.
At the outset a certain set of market conditions were announced beforehand which remained as the guiding principles throughout the whole game. Every team was given two minutes time to think, decide and get the transaction signed by the moderators. The prices of the commodities were displayed along with possible factors which could influence the prices later on in the subsequent months. The trading started on April and went on till March next year. Each and every team applied best of their strategies to maximise their profit within this period.
Forecasting the subsequent prices of the commodities with rapidly changing market scenario was the real fun of the game. One had the option to buy, sell or short sell any commodities looking at the possible future market price and inflation as well. In the final round every team tried to square off their commodities into cash so as to maximise their net profit.
To add more fun into the game, teams were asked to choose a name for their group and separate prize was reserved for the best named group.
The whole game, right from the beginning, was really a nice learning experience for all of us. It was designed in such a way that everybody, regardless of his/her prior and knowledge in trading, can participate easily. It developed an insight to understand things that go around in a commodity market. I hope BLASH will come up with more and more such efforts to enliven our experiences during the stint at IIFT.
Group members
Pallav Goswami
Neha Gupta
Prabhnoor Singh Grewal
Santosh B.
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