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Market Making Dice Game iconMarket Making Dice Game

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Starting budget: 500

Welcome to the Market Taking Game!

Objective

Maximize your expected profit over a series of trading rounds.

How to Play

At the beginning of each round, you will be presented with a set of dice. These dice are valued between 1 and 6. Some of these dice may have values, while others have their values hidden.

Market Maker Quote

Alongside the dice, you'll see a market maker quote displayed as X at Y. Here's what they represent:

  • X (Bid): The price the market maker is willing to buy at.
  • Y (Ask): The price the market maker is willing to sell at.

Time To Trade

With a starting budget of 500:

  • Decide the number of units you wish to trade.
  • Choose whether you want to buy (at the Ask price) or sell (at the Bid price) those units at the given market maker quote.
  • Just like in the real market, an offer remains valid only for a limited amount of time. So, act quickly!

Valid Orders

Ensure that your orders are valid:

  • You should be able to afford any long position you take based on your budget.
  • Similarly, your balance should always cover the maximum possible loss for any short position you take.

Outcome

Once you make your decision:

  • The values of all dice are shown.
  • The sum of the dice values represents the market price for that round.
  • Based on your decision and the resulting market price, you'll either realize a profit or a loss.

Track Your Position

Being aware of your position is crucial:

  • After each round, you'll be asked to report your return.
  • For higher difficulty levels, you'll also need to maintain a mental record of your balance throughout the entire game.

Market Events

When enabled, the following market events can randomly occur during each round:

Only dice showing 5 or 6 this round.

Only dice showing 1 or 2 this round.

Only dice showing 1 and 6 this round.

Only dice showing even numbers (2, 4, 6) this round.

Only dice showing odd numbers (1, 3, 5) this round.

A dice showing 1 is worth 7 this round.

Keep in mind that these events can influence the validity of your order.

Strategy

The market maker provides random quotes. Your advantage lies in your understanding of expected values and the insights from the face-up dice. Use this knowledge to outsmart the market maker and anticipate the market price. If you enable market events, be prepared for occasional changes to the card deck, which will influence and challenge your optimal trading strategy.

Best of luck in your trades and strategizing!