Hey Baron, How about it, this would be a bonanza for ET, in the form of the old CNBC/USA Today contest. A very realistic simulation with strict guidelines. Everyone could start off with say 50k in ET bucks and there could be divisions for stocks, options, and futures. The sponsors and participants would cover the cost, and boost the prize money. These should be multiple contests per year so that the consistant top traders are identified. This could once and for all prove who the best traders on ET are. Far better than a real money challenge in that the playing field would be level for all. Even the biggest pikers on ET would pony up 50 bucks to play, plus it's a great way for noobs to learn, and play with the big boys. Sign me up Big Daddy!! Rennick out
To find out the real traders and the best traders... Real money is the only way and there's no guarantee the best will show up. Also, I remember some past online simulation trading contests where the top performers admitted this is not how they trade in their real trading accounts. As for the playing field be level for all via a simulation game... Most likely the real traders won't bother to participate because they'll be too busy trading their real accounts. Thus, there's a very good chance only the 2nd tier traders will participate such as those forever on a simulator, newbies, those testing a new method et cetera. My point, if the goal is to find the best traders... Real money trading is the only way for such and that's no guarantee the best traders will show up unless the prize money is ridiculous attractive (e.g. 1million dollar prize and best seats to all the world's top sporting events). Therefore, nothing wrong with a simulation trading game as long as its not promoted to find the best traders because like all others online... Maybe that's why they always have that disclaimer for entertainment purposes only for a reason and more so if such involved EliteTrader.com Mark
Real money ain't going to happen and very few will show up. The CNBC contest was very realistic. The big braggers here would ned to enter or shut up. Many would be chicken to put their necks out.
The issue is your use of the term best traders. Thus, if you really are interested in knowing whom are the "best traders"... Real money contest is the only way and as I already said...even that there's no guarantee the best will show up to compete unless there's some ridiculous attractive prize award. Remove the best traders or top traders promo to be replace by the "best simulation trader... Yeah, should be suitable for those posting predictions, bragging et cetera. Than again, log in via a new name at a different IP address to register multiple accounts and the simulation begans to show it's flaw as the CNBC contest... Should still be an fun contest for those types. Mark
A good real money trader would do just as well in a simulated contest. All could enter this, and they would have to pay an entry fee. Multiple entries could be control by using only real emails, no hotmails or yahoos. The only reason a popular ET member wouldn't enter is because he's worried he get his ass wiped. C'mon Baron, let's do it!!
Your forgetting that a real money trader needs incentive to show up espceially if he/she is not one of the typical bragging ET members. Simply, your tournament is obviously aimed at braggers, predictors et cetera while leaving out the real traders. I say that only because you continue mentioning them. Throw a real mouth watering prize out there and you'll get the lurkers to show up too (e.g. lifetime free gas). Heck years back I had a friend that won a pile all you can in your shopping cart and get it for free from a local computer store. Come on...surely you can come up with something to get those your going after to show up and play the game. P.S. I voted YES even though those your trying to bait to join aren't going to do so due to the nature of ET itself. Mark
Dear NihabaAshi, You are 100% correct and continue to be a voice of reason in the wilderness that ET has become. But this would just be for fun, and it definitely would make the place more interesting/tolerable.
Baron is slow on changes at ET...very slow considering I and many others have often suggested many things (such as a real money or simulator tournament) over the past years since I've been a member. Nothing happens because it's tough to teach a old dog a new trick. Probably best to create such outside of ET and then only ET members can join considering Baron won't do it (has shown each year). Mark
Read the initial post, of course there will be a cash prize, and you also have to pay to play. The old CNBC challenge had a 10 k first prize. If someone doesnt enter because they think they are too good or busy, then they need the STFU about how good they are. Rennick out
It is impossible to get any street cred on ET no matter what you do. If you are wrong you get 500 replies telling what a newb you are if you are right you get like 3 replies tops. So a competition is a waste of time