Merval Uptrend Replay (1997-09-11 to 1997-10-22)
Replay Argentina's Merval from August to November 1997 across 60 daily bars, including a sharp -30.1% drawdown. Step through each session, face 11 decision points with 4 marked critical, and receive an AI coach review of your simulated choices.
60 daily bars · 11 decision points · 1997-08 to 1997-11 · Stocks
Key facts
This window spans 83 days with a peak-to-trough drawdown of 30.1% and a 11.9% run-up.
- Max drawdown
- −30.1%
- Max run-up
- +11.9%
- Duration
- 83 days
- Largest single-day move
- −13.7%
- Bars
- 60 Daily bars
- Decision points
- 11
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 late August and mid-November 1997, the Argentine Merval offered a textbook environment for studying how quickly sentiment can sour in an emerging equity market. What begins as an ordinary autumn session becomes, across sixty daily bars, a stress test of every assumption a trader carries into a rally. The setup is deceptively calm: a familiar regional index, daily granularity, and the kind of textbook that promises to teach pattern recognition. The reality is sharper. With a 13.7% single-bar move lurking somewhere in the tape, any session can flip from quiet to violent, and the question on the table is not whether to be bullish, but whether your process can survive being wrong in a hurry.
What unfolds is not a straight line down. The index travels from a close of 867 to 606, shedding 30.1% of its value and registering that 30.1% as its maximum drawdown over the window. Eleven decision points interrupt the sequence, four of them flagged as critical, forcing the participant to choose before each bar whether to lean with the trend, fade it, or stand aside. The 13.7% swing, the deepest drawdown, and the uneven pace of the descent all conspire to make conviction expensive. A trade that feels right on Monday can be proven decisively wrong by Thursday, and the same data series rewards both patience and aggression at different moments.
The training value sits less in the final 606 print and more in the way the eleven checkpoints expose decision hygiene. Participants should focus on how they sized exposure ahead of the critical nodes, whether they predefined invalidation levels, and how they reacted after the largest single-bar move rather than before it. Volatility of this magnitude punishes improvised positioning and rewards pre-committed plans. The replay's purpose is not to crown a winner but to surface the difference between reacting to noise and responding to a process, between being shaken out by a 13.7% jolt and treating it as a known input. That distinction, more than the -30.1% headline, is what the scenario is designed to drill.