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Articles can be written only in English. All articles will be reviwed by our support team. Only articles about PipsTycoon economy / gameplay will be paid. Depending on the quality you can receive between $ 0.1 and...More
Articles can be written only in English. All articles will be reviwed by our support team. Only articles about PipsTycoon economy / gameplay will be paid. Depending on the quality you can receive between $ 0.1 and $ 1 for an aproved article. You can also address other topics such as financial news and tutorials but remember that only articles written in English with no spelling errors and quality content will be aproved. Less
 

Updates on trade. Partner Fund

Written by PipsTycoon support team 3 years ago
   Vote
 
What happens to Partner Fund. Transaction Rollover tax is added. Max profit per a single transaction will depend on membership.
 
Hello players,



January was an eventful month with lot of back-end changes and updates and we would like to present them in no particular order. While the security changes are not revealed due to obvious reasons, let's discuss the visible events.

Some players were surprised about the fact partner fund turned negative in January. While this event was predicted as possible due to trade winnings, it is the first time it was live-tested and happened for real. After a player won over 700$ and total trading wins were over 1300$ along last weeks, partner fund was simply depleted. To clarify the situation, this doesn't block the system, it just postpone monthly dividends to the next month, when fund is over 100$ (in order to grant the minimum amount of 0.0001$ per share to shareholders). So shareholders will not be applied with negative dividends whatsoever as speculated.

Of course we had some net winners of this situation, and they were all traders :) The partner fund collect game income for all shareholders, so this month the whole income belong to traders. This happened also because multiple trades were left over opened for months, so the profit kept increased while the partner fund keep giving monthly dividends without having a reserve for these profits, but this is normal behavior and can occasionally happen.

We need to mention that trade area is not completely developed and urged us to finish the missing updates with 2 measures. We ignored for too long time a logical bug. In real-life Forex trading, negative positions will ask traders to bring more money from home to cover negative positions especially if no margin available or worse. While PipsTycoon traders were able to loose only the margin they use up to 100%, the winning amounts were limitless. It was enough to open 2 opposite transactions and wait for a strong event - one trade loose all margin while the other that already had 100% profit (covering the losses) continue to accelerate win up to thousands % profit of margin till the event calm-down.

Therefore we already implemented a fair cap of this situation to satisfy both traders and shareholders: since you risk a certain amount of margin and cannot lose more than that, you will be allowed also to win the same amount of margin. Let's say you were using 50$ as margin, your transaction will rise up to 100$ and will close automatically at that point returning margin +profit.

As exception, we added extended profit cap for membership owners: silver, gold , platinum and diamond accounts will be able to win 110%, 120%, 150% and 200% of margins. This is not actually a big drawback since even if a trade is closing fast, you can open another right away after transaction was closed. This measure will encourage also players to trade with bigger margins that in order to be able to handle bigger profits

The second measure is the introduction of rollover tax. Traders use a margin multiplied with leverage and basically they trade a much bigger amounts, receiving the negative or positive outcome for the levaraged big amount when transaction close applied on the margin used. Different pairs have different leverages, meaning that 100$ trade can be 1200$ equivalent at 12x leverage or 4800$ equivalent at 48x leverage. In real life trades these amounts are covered by banks and they apply overnight interest.

Being still in simulation realm for trade learning purposes, we will not extend the transaction overnight rollover tax to very complicated real-life formula and apply ever-changing bank interests for different currencies, instead we will apply a single daily percent tax to the margin*leverage used in a transaction after first 2 days when a trade is kept open. This tax is small and necessary and will go to partner fund. It is possible later on to review the destination in order to create a reward fund for trade contests.

These are necessary measures and will balance the long term transactions keeping healthy also the partner fund in the process. Every player can be shareholder to game income partner fund by buying game shares in partners menu and receiving lifetime monthly dividends.



Best regards and good trades!

Administration

 
   


     
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Transactions in derivatives based on foreign exchange rates or the prices of precious metals, commodities or equity indices products carry a high degree of risk. Any transaction involving these products is exposed to, among other things, changes in a country's economic condition or political climate as well as acts of nature or terrorism - each of which may substantially affect the price or availability of the these derivatives. Speculative trading in derivate products is a challenging prospect with a high level of risk. You must therefore carefully consider your investment objectives, level of experience and appetite for such risk prior to trading these products. Most importantly, do not invest money that you are not in a position to lose. In addition, trading on a margin basis means that any market movement will have a magnified effect on your deposited funds. This can work against you as well as for you. The possibility exists that you could sustain a total loss of all the funds you have deposited. PipsTycoon's trading system is designed to automatically liquidate all open positions if your margin deposit is in jeopardy so that you cannot lose more than the funds you have on deposit in your account. We encourage you to employ such risk-reducing strategies as 'stop-loss' or 'stop-limit' orders, but you should be aware that market conditions may make it impossible to close out your order at the level specified. There are also risks associated with using an Internet-based trade execution software application including, but not limited to, the failure of hardware and software. ANNO1777 Labs maintains ‘back up’ systems and contingency plans to minimise the possibility of system failure. Before deciding to trade, you should become aware of all the risks associated with leveraged productstrading, and seek advice from an independent and suitably licensed financial advisor. Under no circumstances shall we have any liability to any person or entity for (a) any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to your trading operations any direct, indirect, special, consequential or incidental damages whatsoever.

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