Dest's "Trade Against a Pro" Trading Challenge

Discussion in 'Journals' started by destriero, Dec 1, 2019.

  1. destriero


    I'd intended on participating in the CME Institute competition that is running from Dec8 to Dec13. I was familiarizing myself with their sim-account when I noticed that they are only offering Dec20 contracts and later on ES.

    Previous winners have done better than 100% on starting capital and I cannot place without MWF ES options. They are only quoting Dec20 vol so I won't be able to do better than say, 40-50% for the week, all-in.

    Therefore I plan on trading my IRA balance at TOS with the same method that I'd planned on utilizing in the CME challenge, but I will be risking actual funds.

    I will be trading SPY and SPX options in lieu of ES vol as the new commission structure makes ES stupid; other than the 1256 treatment. Obviously not an issue in my IRA.

    Here's my starting balance.

    $104,932.91 cash (no open pos)
    $444,826.70 gained in 2019

    I will never utilize more than $100K (of the $105K). Also, I will be paying comms and hindered by Reg-T while the CME players will be trading sim, no comms, and benefitting from SPAN.

    I'll post my opening cash again on Sunday night as well as a closing screen grab on Dec 13th close.

    Please don't litter the thread with trades. I will respond to polite questions, but will not be posting actual trades. Just the open and closing screenshots and some color during the week.

    I plan on fully-committing the entire $100K as I would in the CME sim-challenge, but risking $100K cash, not sim-trading.
    Last edited: Dec 1, 2019
    Adam777, yc47ib, birdman and 18 others like this.
  2. Overnight


    So basically, you are mirroring the contest, but with your own funds on Wookies (<---- a name I just came up with for weeklies.)

    Well, that is not a challenge per se, but just a challenge to yourself. Geez, are you bored with the low vol environment you options folks are living in currently?

    Crazy, the lot of you.

  3. destriero


    What better way to one-up this dogshit than to do it... while actually risking $100,000 cash?
  4. destriero


    I have a (really) good structural edge on index vol. I am confident that I can do at >50% in a week if risking the entire stake in MWF SPX vol.
    johnarb and .sigma like this.
  5. .sigma


    And this is what I'm very curious of..

    I'm getting my pen and pad and ready to take notes
  6. Overnight


    Well, yeah? Why bother with mirroring a contest? Just do what you do? Do that voodoo you do?

    Are you in Colorado smoking some funny stuff? Or Massachusetts? (It is finally legal here, man.)
  7. destriero


    I haven't trade this account since August. It's just sitting there. It's tax deferred and it's not going to impact me if I blow it out, so why not? Consider it a week-long 100/200 NLHE game where you get to railbird and chat with the degen risking it all.

    Or you can go read duzo and maxinger's utter garbage and hold your breath waiting for them to post a trade or a blotter.

    We have legal pot here; med and rec. Has been for over a year. Some world-class growers within 30 minutes of the house. I don't drink or drug. THC is neurotoxic, esp (impacting) in the hippocampus.
    Last edited: Dec 1, 2019
    yc47ib, Real Money, johnarb and 2 others like this.
  8. .sigma


    So, how does one trade index vol at all-time highs with an IV of 13%?
  9. And it's an androgen antagonist!
    Axon likes this.
  10. Overnight


    I think it's pretty cool how I got you to stop thinking about trading and shifted you to thinking about drugs instead. I'm gonna' pride myself on that for a bit. Of course, you're trying to go all scientific and whatnot with THC. Tetrahydrocannibinol. Whoop!
    #10     Dec 1, 2019