We're two software geeks trying to build our own trading simulator app for beginners which could teach some basics of technical analysis and won't be too boring.<p>You can join the early test program here if interested:
https://threeinvesteers.com/<p>Do you think this is a decent idea?<p>So far we've solved the main technical challenges and built a solid backend solution for real-time prices, and also got the first feedback regarding the concept from some early users.<p>We've polished the idea slightly using the feedback but still have some open questions.<p>Would be great to hear your feedback.<p><i>The problem we'd like to solve</i><p>Traditional paper trading is nice to test out a platform, but apart from that, it doesn't teach you much.<p>If you can go all-in without consequences, there is no reason not to just “gamble”.<p>Nothing to win, nothing to lose creates totally different psychology from real trading.<p><i>Here's our upgraded idea</i><p>A trading simulator for beginners with real-time market prices (stocks, FX, crypto) where users have limited chances to perform wild YOLO bets and are motivated to learn something.<p><i>How we could do it</i><p>1. Motivation. To boost motivation, three top-performing users receive real money prizes (probably Amazon gift cards) each week.<p>2. YOLO management. To avoid users making reckless bets that leave the results almost essentially resting on luck rather than skills, we could implement the following things:
Trade size capped to a max of X% of available cash.
Leaderboard rank not using plain returns, but risk-adjusted returns or/and by setting a max drawdown limit.<p>3. Learning.
Users gain initial & extra game money by completing educational quizzes.
Interactive pattern recognition training module, where users are presented with selected trading setup ideas on live charts (pattern, S&R levels, trendlines, MAs, etc.) and can test them by placing simulated trades. This way beginner users could learn a thing or two of what goes in a trading setup. Also, they could get a reality check when seeing that even good-looking setups can often fail... without burning their student loan.<p><i>What I'm still not sure about</i><p>To pay for the market data and prize money we would obviously need some form of paid features.<p>What could be a good and fair option, in your opinion?<p>A small participation fee or perhaps some in-app purchases like more education materials and quizzes, a wider choice of assets, extra leverage,...?