Bubble · DAX Index (2000)
From October 1999 to May 2000, the DAX climbed 39.2% as the dot-com euphoria gripped European markets. Replay each of the 150 days, tackle 26 decision points, and receive an AI coach review in this simulated, educational training scenario.
150 daily bars · 26 decision points · 1999-10 to 2000-05 · Stocks
Key facts
This window spans 216 days with a peak-to-trough drawdown of 11.7% and a 56.4% run-up.
- Max drawdown
- −11.7%
- Max run-up
- +56.4%
- Duration
- 216 days
- Largest single-day move
- +4.7%
- Bars
- 150 Daily bars
- Decision points
- 26
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
The scene drops traders into the final chapter of the 1990s technology mania, specifically the German equity market from October 1999 to May 2000. The DAX, Germany's premier stock index, was riding the crest of dot-com euphoria that had consumed global markets. European investors, swept up in the promise of the internet economy, pushed valuations to extraordinary heights, creating an atmosphere where traditional metrics seemed quaint. This 150-day window captures the climax of a speculative excess that would soon burst, making it a powerful laboratory for studying crowd behavior and market extremes.
Over this period the DAX climbed from 5295.43 to 7371.06, delivering a 39.2% gain that seems remarkable on paper. Yet the journey was far from smooth, with a maximum drawdown of 11.7% reminding participants that even trending markets punish the unwary. The largest single-bar move of 4.7% illustrates how quickly sentiment can shift. Traders faced 26 decision points, including 9 critical junctures where conviction and risk management were tested simultaneously.
This replay teaches that process matters more than outcome. Following momentum blindly during a bubble invites sharp reversals, while excessive caution can mean missing once-in-a-cycle opportunities. The volatility reminds us that risk management is not optional but essential. Psychologically, the scenario exposes how social proof and the fear of missing out distort judgment. Training here builds discipline: sizing positions appropriately, respecting drawdown limits, and maintaining conviction when others panic. These habits transfer far beyond this historical episode.