Crisis · Jakarta Composite Index (1998)
Replay 144 daily bars of the Jakarta Composite Index from October 1997 to May 1998, a stretch that erased 16.2% by the close. Step into 25 decision points across the IMF-austerity crisis, receive an AI coach review of each choice, and learn from simulated history.
144 daily bars · 25 decision points · 1997-10 to 1998-05 · Stocks
Key facts
This window spans 217 days with a peak-to-trough drawdown of 36.5% and a 63.2% run-up.
- Max drawdown
- −36.5%
- Max run-up
- +63.2%
- Duration
- 217 days
- Largest single-day move
- +14.0%
- Bars
- 144 Daily bars
- Decision points
- 25
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
Between October 1997 and May 1998, the Jakarta Composite Index sat at the center of one of the most punishing emerging-market crises of the late twentieth century. Indonesia had just entered a sweeping IMF austerity program, and capital was fleeing the rupiah and the bourse at the same time. For a learner replaying this stretch, the atmosphere matters as much as the price tape: every daily bar carries the weight of policy headlines, currency intervention rumors, and political fragility. The question on the table was never simply whether stocks were cheap, but how a holder weathers a regime where policy itself becomes the dominant variable.
The price action confirms that the market was anything but orderly. Over 144 daily bars, the index slid from 513.95 to 430.53, a 16.2% decline on the surface figures — but the path included a maximum drawdown of 36.5% and a largest single-bar move of 14.0%. Those two numbers capture the lived experience of the period far better than the endpoints do: long, grinding downtrends interrupted by violent one-day shocks that could erase weeks of positioning. With 25 decision points, 9 of them flagged as critical, the replay forces the participant to act when information is sparse and headlines contradict each other, which is precisely the cadence of a real crisis.
For decision training, the lesson is less about calling the bottom and more about process. Position sizing, predefined exit rules, and the discipline to sit on the sidelines when policy risk dominates earnings risk are the real skills being exercised. The psychology of drawdown — watching a 36.5% peak-to-trough loss unfold on a screen while authorities debate terms — is something that cannot be taught in a bull market. Replaying these bars lets a learner feel that pressure in compressed time, build reflexes for volatility shocks, and learn to separate reactive impulses from a written plan, all within simulated capital and historical data.