The CME is having another contest for educational and public awareness purposes. The top prize is only $2500? so it's not about the money but to prove to others you can trade or not trade. or whether you are a gambler or professional trader. a fine line between a trader and gambler. Send me your trader ID in the competition so I can see how well you do or didn't do well. and your trading report. The CME website has improved a lot in terms of training and educating people about the 'futures' market. IMO, everything you need to know about futures or trading is in the website and information or educational training is free. Starts: Sunday, March 3 at 5:00 p.m. CT Ends: Friday, March 8 at 12:00 p.m. CT Prize Details First Place Prize: $2,500 Second Place Prize: $1,500 Third Place Prize: $850 https://www.cmegroup.com/futures_challenge/challenges/147/landing
Trading competitions are all about finding loop holes. There are so many! You can tripple your sim account in 1 week doing dividend arb using boxes(no assignment risk, easy to do on TOS, if you ever want to pretend you make millions). Me and a buddy went 3/3 at our schools trading competitions market making iliquid penny stocks on stockfuse. Stocktracker is another one where income from selling premium increases your bp(you have one guy sell a boat load of bear verticals and the other guy sell a boat load of bull verticals on the same underlying. One of you win the competition and you split the profits), the list goes on. Even well known Canadian competitions like the TMX options trading competition are a joke, you get filled at the last if the last is between the bid and the ask, you can only imagine the opportunities in the less liquid options(every year I miss the deadline for this one). That is probably the reason why sim competitions (the large ones) never payout +5k. Main point don't ever think that the guys that win these competitions are profitable in real life. And more importantly (for some of the guys reading this post): if you are learning to trade, it is always better to trade a tiny chunk of capital(1contract) than it is to paper trade.
%% And the ''winners'' take huge risks,''contest money'' with paper OPM money/sim.................... [Edit remark; may be helpful to a new trader, or college student.........It may also not be easy, because many of them make you agree to use your real name. So we may see the real name of contest blow ups LOL. But when they do something like put $ 50,000 dollars, in your contest trading account; you dont get it-that is JUST your trading content account, which maybe any @ the exchange could see what you do. Actually i like the idea as far as a promotion for new traders. And some turned a contest ''win''into something better.Most option buyers lose money; but Mark Weinstein won an provable buying option contest prize of about $250,000+$900,000 /+he earned,3 months i think,with out Pyramiding.He admitted markets were better then. ]CBOE promotion/contest; 50 traders put up $5 k each, for winner take all
Of course it is big risk. I can use paper money/sim to buy paper/sim cryptocurrencies and be a paper/sim crypto-billionaire.
this competition doesn't allow options. and have rules., IMO if you cannot make money trading in a simulation you won't make money trading real money.
options are manipulated and rigged. the strategies in simulated options won't work in real options trading. like penny stocks 99% of penny stocks are worthless and manipulated and basically fraud volume. like crypto exchanges basically ponzi scheme or like multi-level market scams. like amway. you be surprise how many 'smart' people fall for these easy money ponzi schemes. from greed. these fraudsters feed on your greed. like parasites in the economy. offer no value other than to suck money from the economy. here is a reality of traders or daytraders. we as group offer no real value to the economy.and create nothing. of value. the market doesn't retail daytraders or traders. any profit we make is from other retail traders or the market makers who lose some and win some.