Instructions for Playing the Trading Game
1. The class is divided into two groups representing buyers and sellers. Buyers start the trade with one buy card and one score sheet. Record the price listed on your buy order card on your score sheet. When the market opens try to buy at the lowest price and negotiate with sellers to get the lowest price. If you pay less than the buy order price the difference is profit, if you pay more than the buy order price on your card the difference is loss, and if you pay the same price as the buy order card price then you break even for that transaction. Record the transaction on your score sheet and report the price to the recorder who keeps the tally on the classroom tally sheet transparency. After you have finished the trade, turn in your buy card and pick another card from the stack of buy order cards. Begin the negotiation process again till the market closes.
2. Sellers start a trade with one sell order card and one score sheet. Record the price listed on your sell order card on your score sheet. When the market opens try to sell at the highest price and negotiate with buyers to get the highest price. If you get less than the sell order price the difference is loss, if you get more than the sell order price on your card the difference is profit, and if you get the same price as the sell order card price then you break even for that transaction. Record the transaction on your score sheet and report the price to the recorder who keeps the tally on the classroom tally sheet transparency. After you have finished the trade, turn in your sell card and pick another card from the stack of sell order cards. Begin the negotiation process again till the market closes.
3. When the instructor announces “the market is open for trading,” buyers and sellers should meet in the center of the classroom and start negotiations.
4. The objective of all participants is to make as much as profit as possible. Buyers make profit by buying wheat for a price less than the dollar amount indicated on their buy order card and sellers make profit by selling for more than the dollar amount listed on their sell order card.
5. Every time a sale is made, the buyer must report the sale to the recorder who records it on the classroom tally sheet.
6. As soon as a sale is made, both buyer and seller must obtain new buy and sell order cards respectively and return to the center of the classroom to negotiate new trades.
7. Students can make as many trades as possible in a round, and once the teacher announces, “the market is closed,” no further transactions are allowed and students clear the center of the room.
8. Several 2 minute rounds are played.