That's what Canucks do best! Making complaints... Salt Lake City Olympics come to mind... You really have to make up your mind... Are you the 51st State or not?
Its a "close only" trading contest where only Long trading is allowable. The limit is 50 actions a day. A sell is an action and a buy is an action. You also have to trade by doing all sells before any buys. This helps keep the account full of cash. So it boils down to EOD trading at 50 actions a day (25 round trips). The trading capitalization set at 500m does cut out a lot of high beta stocks and penny stocks. Culling to win would be like picking off NTRI last year for 30% in three days and doing it four times. It does hang so the EOD restriction is not a bad one. If I enter, I am picking a really great name with a lot of 6's in it. If anyone is going to use PVT to do it. Just run a day ahead on the hot list and a day ahead on the exit date. You need to use that offset because of their "settlement" scheme. Weekly challenges are based on % per week but the over all challenge is on dollars won where they throw in a lot of screwy extra credit stuff. In terms of american idol it would be just like zapping out thousands of referrals to win.
Hi Jack, If i am not mistaken,last years winner put up close to 400%.Not sure of the duration of the contest,but assuming it was 10 weeks,that would imply 3%+ per day..If I recall you average 2%,and thats with intraday trading and no cap restrictions.Of course,you are trading with real capital... Ill look for the really great name with lots of 6's
here is one of the winners http://articles.moneycentral.msn.com/Investing/StrategyLab/Rnd15/P2/Strategy.aspx
do you think they ever diversify in this kind of contest? trading rule #1 is to reduce the chance to lose. in a contest it is all about winning. that is why we see larry williams type person in contest but not in real life.
I'm in it to win it. Last years winner seems to be a pretty good trader. He called a short on ENER feb 8th, its down 14% today. http://articles.moneycentral.msn.com/Investing/StrategyLab/Rnd15/P2/CNBCChampJournal20070208.aspx