Trade game n report

Nature: Individual assignment. Word length: For the report: not more than 2,000 words (electronic count) excluding executive summary, footnotes and appendices to the report. Submission: This assignment must be submitted electronically on CloudDeakin by 11:59pm on the due date (please refer to the Unit Guide for further details). In this assignment, students are required to: (A) Speculate with virtual money on a real internet trading website. (B) Write a report (maximum of 2,000 words) on their trading experience. (A) Internet trading game (15 points) The Unit Team will provide each student with a free demo account with Easy Forex, an online foreign exchange trading website. The url for Easy Forex is  http://www.easy-forex.com/au/ . You will have access to many of the features on the website that actual traders receive, including real-time quotes, news and a variety of charts (though some features that are licensed from third parties are not available on demo accounts). Please note that the website works best with Internet Explorer. You can download Internet Explorer from the Deakin Software Library:  http://www.deakin.edu.au/software/internet.php . Each student will be given an account on this website with AUD 50,000 virtual money. The goal of the exercise is simple: to make as much money as possible. Easy Forex provides access to foreign exchange spot markets and forward markets in order for you to perform your speculative activities. The website has a ‘Learn’ tab, which contains information on the basics of forex trading. Please take the time to understand how the trading platform works before commencing your trading activities. All students will receive an email (from the Unit Team) that contains a username and password for an account on Easy Forex within the first week of April 2016. On receiving this, please do not change the settings (i.e. please do not change the email and password on the account). The url for direct access to the login area on Easy Forex is  http://www.easy-forex.com/au/ . You can access your account by entering the username and password in the “SECURE LOGIN” area. I would highly recommend that you do not start trading straight away; rather, it would be very useful to spend some time reviewing the features on Easy Forex. Even before you receive the username and password for your account, you can practise trading (and familiarise yourself with the platform) by using the ‘Trading Simulator’ that is available in the ‘Learn’ section of Easy Forex (you will need to login as a ‘guest’). The foreign exchange market reacts very rapidly to news, so it is highly recommended that you do make it a point to spend a few minutes every day keeping track of how economic variables impact the forex market. Please note that your account will not be replenished if your funds run out; this is to ensure that you manage risk while trading.