I entered with the hope of gaining some cred to raise money for my mutual fund timing service. It took 3 years of audited, published results before people finally said, "all right we believe you know what you're doing". There was never a cash prize for the contest, but I estimate the publicity gained me new accounts worth ~ $2 Million in management fees over the next 2 years. If one has aspirations to manage OPM, the USIC can be an important resource.
honestly i never trusted any of these types of things - it seems they all have constraints like nascar
Well, I think the Robins (Robbins?) contest if lacking in two important respects: 1) Multiple accounts are allowed per entrant, so you never really know how well the winner actually did. This was the issue for Larry Williams back in the 80's. He did indeed run a $10K account to over $1,000,000 that year. But he also traded multiple accounts, and some of those accounts did not fare well at all. 2) You have to use the Robins affiliated broker with what I consider to be very high commissions. I think that the Norm Zadeh competition is legitimate. First, many known high performers have chosen to participate over the years, some more than once. And two, you have to identify the account(s) you are using for the purpose of measuring your return for this contest. I haven't ever competed in either, but from what I can see on the USIC website, it is pretty straight forward with no restrictions other than you must trade products allowed by your declared division. You can't enter the stock division, and then YOLO out of a drawdown by buying a bunch of TSLA 0DTE puts, for example. But if you are in the Options/Futures division, I believe you can trade options, futures AND common shares as well as ETF's.
Would be fun to enter just for the hell of it. $425 is nothing. But I only got 10k working capital right now. I think it said somewhere min for futures is 20k and anything less they just peg it to 20k start. Kind of feel cheated if I did enter lol
I recommend you enter anyway. It could/will give you a good picture (audited) of your consistency and discipline. If you do well, enter again next year. You might surprise yourself. ("Audited results" can be a very big thing. And getting them any other way is MUCH more costly.)
"$425 is nothing" shows that you are an elitetrader, even if your capital is small at the moment. Elite is mindset, young'n
Ok fine. Should be fun. I'm actually going to run my algo full time next year. Hopefully it doesn't blow. I put "broke ass capital" as my account name
I think some people were expecting a Bull Market in 2023, so the standard uptrend Consolidation/Breakout stock picking Techno-Fundamentalists thought to enter. Now 2023 might be looking like a good time for a S&R Trader like @Scataphagos to enter. P.S. Scat, @Handle123 has already fessed his prior Win in another thread.