First place is going to be hard to catch, but i still have a chance at third; 500 for the winner i believe. Good luck.
Imagine you are a surfer, markets seas and swings waves. You only know that some seas are more dangerous (aka volatile) than others. But when you watch the sea, can you expect the next wave? Of course not Do you know exactly which way you will ride the wave? Of course not. Can you expect a shark or a killing wave? Of course not You expect nothing, you just surf and adapt. Same for trading the markets. The only things you can control are your skills and survival instincts. Just go with the flow. CM
Very true, this (and that's what often happens). I'll be customarily outspoken and mention that I think these trading contests are misleading and close to useless. Their entire orientation is one of profit-maximization, rather than risk management. Typically, they reward gamblers and penalize patience and discipline. Realistically, they can be won only by the consistent use of trading habits/methods/systems that would typically be absolutely hopeless and excessively dangerous for live, funded trading. At the "newbie level", they inculcate dreadful habits and grotesquely mislead beginners, at the most basic level, regarding what trading's all about. [And - digressing slightly here - even at the "pro level", they're widely used to mislead the public about "who's likely to achieve what": for example, the NFA fined Larry Williams for not reporting to potential clients that, while his personal account in a promotional 1987 contest was very profitable (a gain of $900,000), his managed accounts for clients lost substantial funds (over $6,000,000) - that was held to constitute deceptive and unbalanced promotional material and disclosure statements. And in July 1988, the Larry Williams Financial Strategy Fund was launched, followed in March 1989 by the World Cup Championship Fund, managed by Larry Williams, Jake Bernstein and two others: the 1988 fund lost more than 50% of its clients’ equity in barely one year, and the 1989 fund also lost more than half of its original equity by May 1990. These are not obscure, isolated incidents: they’re actually fairly typical of the motivations of pro-competition performers, precisely because it's the ability to use competition results misleadingly in sales materials that often attracts "pro-players" to these horrible competitions.] (/rant )
There is no reversal for the positions i am holding. I am now down 10K and it seems i do not have the trading skills to come back from this, especially the instruments I trade have the volatility of a snail. So i bid this thread farewell, crap the leader is now 48K. There are some crazy traders out there.
I suspect that many of us here do not have a login to the "CME Institute", and do not care to make one just to see what the rules were for this "contest". Care to share with us what the parameters were?
It's easy to make one. It requires only an email. I don't know what parameters mean, but the account starts at 100K. I see people trade instruments like 6A,6J,GC,YM,QM, ZS,CL,ES,LE,6B, GE,BZ, RB,RTY,NIY,RB,ZW,SI... The contest lasts a week, probably ends next friday. No entry fee. First place 1000, second 750, third 500. As i stated use any email to sign up but i may be late to enter.