ADX Downtrend Replay (1998-05-01 to 1998-06-03)
Replay the 1998 ADX crash as the index plunged from 18.53 to 11.47, a 38.1% slide. Step through each daily bar, face nine decision points, and receive an AI coach review of your simulated choices.
46 daily bars · 9 decision points · 1998-04 to 1998-06 · Stocks
Key facts
This window spans 64 days with a peak-to-trough drawdown of 42.3% and a 13.4% run-up.
- Max drawdown
- −42.3%
- Max run-up
- +13.4%
- Duration
- 64 days
- Largest single-day move
- −18.2%
- Bars
- 46 Daily bars
- Decision points
- 9
Every figure above is computed programmatically from this replay’s own candle series — no editorial input, no LLM. Methodology: Methodology
The market advances day by day. You only see candles up to the current day — as if you were really there.
At key decision points choose Buy / Trim / Exit / Hold. Each decision advances the timeline by one day.
After settlement you get a six-dimension score and an AI coach review. Your result enters the scenario leaderboard.
Event Replay
What happened — and what it teaches
In the spring of 1998, the Abu Dhabi Securities Exchange (ADX) was navigating the volatile landscape of a frontier market during a period of global financial uncertainty following the Asian crisis. The market entered a steep and accelerated decline during May and June of that year, creating a demanding environment for any participant. For those engaging in this historical replay, the central challenge was clear: navigate a severe downturn while managing risk and maintaining disciplined decision-making under mounting pressure.
The data reveals the severity of what unfolded. Between April 15 and June 18, 1998, the ADX index plummeted from 18.53 to 11.47, representing a total decline of 38.1%. The episode proved brutal even by those standards, with maximum drawdown reaching 42.3%. A single session saw a move of 18.2%, underscoring the violent nature of the selling. Throughout this period, participants faced nine distinct decision points, including three critical junctures where choices carried heightened consequence for portfolio outcomes.
This replay extracts enduring lessons in risk management and trader psychology. The sheer velocity of the decline tests whether a trader has pre-established position sizing rules and exit triggers before emotional capitulation sets in. The 42.3% drawdown forces confrontation with loss aversion, the cognitive bias that leads many to hold losing positions far too long. The 18.2% single-bar volatility challenges assumptions about market liquidity and the danger of ill-timed entries. By working through each daily bar and facing authentic decision moments, participants develop visceral understanding of how process discipline, not prediction, separates sustainable traders from those who collapse under pressure.
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