Here is my suggestion:
Everybody has to own exactly three equities or some other clearly defined, accessible, and open financial instrument by the end of the day (3pm Central) on January 13. Commodities, bonds, ETFs, etc are allowed. Commodities can be purchased at spot price or via ETF.
Everyone starts off with $100,000 dollars. At least 20% of your updated money total must be in each holding.
You can trade as much as you would like, and there are no commission fees. However, when you sell one of your holdings, you have to pick up a third by the close of the 3rd business day after that sale.
This gap in time is the only
time in which you are allowed to hold "cash."
Each holding must be held for at least one hour.
After a sale, you cannot re-purchase that same holding for at least one hour.
Every transaction has to be clearly posted, and no edits are allowed, except to your original post, where you will keep track of every transaction you make. You must state the exact time of each transaction.
No shorting is allowed, except in ETFs that mirror shorting. No margin trading or option trading either.
We can have updates at the end of each month, with monthly winners, and then of course a yearly winner, ending the last business day of 2013.
I like the idea of everyone having to have exactly three holdings because it keeps things more simple and less erratic. Also, each transaction would have to be posted in its separate post (no edits allowed unless it's just a typographical error).
Of course, we would need to be on some sort of honor system here, because it's too hard for one person to track everything. However, person keeps all of their transactions in their first post, then I could track everyone's progress at the end of the month and update the thread.
Let me know what y'all think.
This post was edited on 1/2 at 11:09 pm