Love the new rules....however sounds like a lot of work for you. And may turn off the contestants who don't have time to play so actively as would be necessary to win. But that's up to you...it certainly is realistic looking and gives people a chance to practice trading in a public and pressured setting.
I like the fixed position size idea from before better with no double down option as it requires less thinking and paying attention but the may be better as it forces me to play more actively. 5 trades a month? 5 to 20%?
Well doesn't hurt to try if you're up for the workload. Could always change the rules back PR to something else if it doesn't work.
For newbies, I may suggest a simpler way to spell out the rules but more on that another time.