TRADING DAY: Regular Trading Days Guidelines

* Each stock listed on IPSE has 1,000 initial shares available for trading.

* You can purchase your own stock as long as it is listed.

* Watch for supplemental postings throughout the trading day as they can have an impact on the price of stocks during the trade. However trading will not have an impact on outside postings.

* Regular Trading Days allows traders to buy and sell all listed IPSE stock within the comment section.

* Stock price on this date can fluctuate according to trading activity occuring within the comment section and posts throughout the trading day. If there hasn't been a previous posting raising or lowering the value it is assumed to be $100. on Inaugural Day a trader cannot alter existing prices. All buy/selling must occur in the comment section only of the Trading Day post.

* Below is an example posting of a trader's first trade. "" denotes what the trader will actually post in the comment section. For uniformity sake please use three lines for posting.

TRADER A: "COH $100,000"
"BUY 10 shares of DDD @ $100"
"BAL: $90,000"

TRADER A: Is the poster's name.
COH: Cash on Hand - The beginning account balance before a transaction.
BUY: the type of the transaction. Remember Inaugural Day is BUY only.
DDD: the stock symbol.
$100: current stock price.
BAL: the current account balance after your purchase.

Now here is his second trade of the day.

TRADER A: "COH $90,000"
"BUY 20 shares of ABC @ $150"
"BAL: $87,000"

Here's a transaction between two traders.

TRADER A: COH $90,000
SELL 10 shares of ABC @ $150
BAL: $87,000

A transaction is not considered complete until there is a customer in this case a buyer . The first trader to post a buy of "ABC" stock closes the transaction. Here's what it looks like:

TRADER B: "COH $100,000"
"BUY: 10 shares of ABC @ $150"
"BAL: $98,500"

This completes the transaction between TRADER A and TRADER B. Both traders can now proceed to their next transaction. On the next posting the each trader should reflect the new balance totals.

* A trader can withdraw an offer as long as no one has not accepted via a post. Here's how is an example of a withdraw.

TRADER A:
"WITHDRAW OFFER"
"COH: $87,000"
"BUY: 10 shares of ABC @ $150"
"BAL: $90,000"

Again this is only a valid transaction if Trader "A" withdraws his offer prior to a posted acceptance. A sell works in the same way.

* Can you BUY/SELL stock at a price different from its current listing? The answer is yes and here how you do it.

TRADER B:
"COH: $98,500"
SELL: 10 shares of ABC @ $100"
BAL: $98,500

* As you have seen in prior posts the ABC stock was listed at $150 per share and Trader B is now offering the same stock at $100 per share. If Trader B finds a purchaser at the $100 price, it becomes the new value for the ABC stock.

CORNERING THE MARKET:

* For those traders who are flirting with the idea of "cornering the market" on a particular stock (usually their own) we offer a word of caution. If by chance your fellow traders discover your devious plan justice will be swift, certain and perhaps even financially disasterous to your bank account if they decide to dump your stock at a significantly lower price. Once this cascading effect starts it may not stop until your holdings are woth a fraction of its original purchase price. than its original pruchase price. Play that game at your won risk.

* We will intercede in trading day activities only if we believe there is cullision between two or more traders to artifically raise or lower a stock price or engage in margin trading. If we witness these activities, there will be a warning posted and an immediate fine to the offending participants.

* No deficit spending is allowed. Any player who goes broke or cannot pay his fees or penalties must leave the game and petition IPSE for permission to trade again.

* We will periodically monitor the trading to capture macro data and to make sure we catch flaws and mistakes before they occur. Only posted trades are recognized as legitimate and margin trading (trading on credit) is prohibited.

* Each trader is required to keep track of all of their purchases.

* If after closing we determine that a trader purchased stock that wasn't available the transaction type and time will be announce, the transaction voided and the trader will be allowed to adjust their account balance accordingly.

* Any trades occuring after the we've posted the MARKET CLOSED will be ruled invalid.

* At the end of the trading day we will ask via an "Trading Day Audit" posting for each trader to post their account balances including cash on hand, name and amount of stock held.

* Violations not identified during trading will be assessed during the audit phase and fines levied.