How the game is played
Rules & fine print.
The game
- Every player gets the same simulated starting balance. Allocate 100% of it across eligible US-listed stocks before the round starts — anyone not fully allocated at lock is not entered.
- Position limits (max % per stock, max number of positions) and the eligible-stock list are shown for each round before you build.
- Portfolios lock at round start. No trades during the round. Fractional shares, long only, no leverage, no options.
- Portfolios are valued once per trading day at the market close (4:00 PM ET), captured right after the bell. This closing snapshot is the game's source of truth and may occasionally differ by a few cents from your brokerage's figure. Scoring is price return only — dividends aren't counted toward standings. Winner = highest percentage return at the final close; ties go to whoever submitted their final portfolio earlier.
- All portfolios are public to everyone, always.
Fair play
- One entry per Discord account per round.
- Moderators may disqualify entries or players at their discretion (multiple accounts, exploiting a data glitch, or anything against the spirit of the game). Moderator decisions are final.
- Data hiccups happen (halted stocks, delistings, price feed gaps). We handle them with published, consistent rules — e.g. a stock that stops trading is frozen at its last known price — and moderators may correct clearly wrong results.
- Stock splits and similar corporate actions are adjusted so they have no effect — up or down — on your return. If one affects a stock you hold, you'll see a note on your portfolio.
The fine print
- This is a game played with fake money. Nothing here is financial advice, and nothing you do here involves real trading or real money.
- Any prizes, if offered for a given round, are described in that round's announcement and awarded at the organizers' discretion.
- Market data is provided by third parties and may contain errors or delays; standings are based on the data as recorded at each valuation.
- Playing requires membership in the Paper Gains Challenge Discord community and signing in with Discord.