IB Olympiad Winners

Discussion in 'Strategy Development' started by bluud, Dec 9, 2006.

  1. bluud

    bluud

    I was looking at last years winners in the IB Trading Olympiad

    http://www.interactivebrokers.com/en/general/education/olympiadWinners.php?ib_entity=llc

    the first place winner's algorithm was able to return more than 100% in 10 weeks, about 50% / month

    http://online.barrons.com/article_email/SB115292019289507512-lMyQjAxMDE2NTIyMTkyMjEwWj.html

    I think that is really great, most traders don't have 100% return annualy let alone in 10 weeks

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    here is last years announcment for this Olympiad

    http://www.elitetrader.com/vb/showt...&perpage=6&highlight=ib olympiad&pagenumber=1

    Quoting trdr25
    It almost looks like IB is looking for trading ideas for their own trading. Anyone with any kind of worthwhile plan will not enter this contest and reveal the strategy.

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    Talk about rip-off!

    Does anyone else here think this is a rip-off?

    I wonder why this guy was stupid enough to actually participate in this contest to let IB obtain his trading strategy just for a reward of 50K$, so fucking desperate for the 50K?

    Maybe for his future resume?!, you know Sir I wrote a program that does this and that, do you think I qualify to become a software developer in Microsoft, please, oh, please? -We might contact u in a few weeks regarding your application. And have a nice day.

    an employee is not much different than a slave

    here is his website and blog:
    http://www.patrickchristmas.com/
    http://www.blogger.com/profile/4426223


    :D

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    Does anyone know anything about this guy or other winners in this contest?

    and mainly does anyone have any idea about their strategies?
     
  2. I am actually in this challenge.


    Yeah this guy from my college won second place last year. Although, he is out of school already I met with the professor which hellped him out........It alright but the strategies can be the same as SMA cross overs etc.....Just back test some stuff and get into it.


    Good luck, I am doing this as well.....So I hope you won't make more than me...:D
     
  3. def

    def Interactive Brokers

    bluud,

    I can tell you it is not a rip-off. The 50K may not be much to you but it sure can be a financial windfall for a college student with debts to pay off. Also do you really think any of the winning strategies will play out over the long run for a firm making markets on a global scale?

    Furthermore, for someone interested in becoming a financial engineer, what better opportunity to put your code in front of senior management who are in the position of offering someone a potentially rewarding and lucrative career.
     
  4. gbos

    gbos

    If you think about it the way to maximize your wining chances in a paper trading competition with many participants is to follow some extremely odd and risky strategy, something you will never use in real life. If you imagine the distribution of the participant’s wealth at the ending of the competition, your goal is to land in a ‘lightly populated area’. It’s (very very very) highly unlikely that the best strategy among the participants will rank first.
     
  5. def

    def Interactive Brokers

    <p>Attention all programming/computer science students! Have you been thinking about the
    post-graduation working world, wondering where to start looking for an interesting job with a
    <u>great</u> salary and lots of potential for growth? If you’re like most technically oriented
    students, you probably haven’t even considered the financial services industry, but that may be
    the <b>first</b> place you’ll want to look. Why? In a nutshell, after years of simply
    refusing to keep technological pace with the rest of the world, this venerable industry has
    finally seen the light—that cutting-edge technology is good for business! Now they are rushing to
    catch up, which means that all of these companies are suddenly competing to attract top
    programming talent!</p>
    <p>Want to see if you might enjoy that industry? Now you can, with no commitment and the possibility
    of great rewards! Greenwich, CT-based <b>Interactive Brokers Group</b>, a worldwide
    leader in market making and broker-dealer services, announces their second annual <b>IB
    Collegiate Trading Olympiad</b>. This event gives future leaders in technology (that’s
    you!) an opportunity to test their skills in a real-world scenario by developing and implementing
    a program-trading application that runs against live market data. You’re still not sure you want
    to do it? What if we told you that you’d be eligible to win <b>$1,000</b>,
    <b>$10,000</b>, <b>50,000</b> or <b>$100,000</b> cash and possibly
    receive an offer of a full-time or internship position with IB?</p>
    <p>For more details, rules, and a contest application, go to the IB website’s
    <a href="http://www.interactivebrokers.com/en/general/education/IBTradingOlympiad.php" _fcksavedurl="http://www.interactivebrokers.com/en/general/education/IBTradingOlympiad.php">Olympiad</a>
    page. Get going, your future is waiting!</p>

    <a href="http://www.interactivebrokers.com/en/general/education/IBTradingOlympiad.php" _fcksavedurl="http://www.interactivebrokers.com/en/general/education/IBTradingOlympiad.php" target="_blank"><img src="http://www.interactivebrokers.com/images/common/Olympiad_bnr-04.gif" _fcksavedurl="http://www.interactivebrokers.com/images/common/Olympiad_bnr-04.gif" width="300" height="250" border="0"></a>
     
  6. bidask

    bidask

    very interesting. how rewarding and lucrative is it to work at IB? :)

     
  7. bluud

    bluud

    the above is quoted from your post in last years announcement

    http://www.elitetrader.com/vb/showt...&perpage=6&highlight=ib olympiad&pagenumber=6

    what I understand from your words is that automated trades that run based on simple strategies and in a simulated enviroment can not be used to generate equal percent of profit for multi-billion accounts

    I agree, because multi-billion accounts usually profit by manipulating the market.

    If this is not the case for IB I can hardly agree that any strategy developed to make good profit for a 100k account, could not be a good idea worth looking into, even if not used




    if you did not have the following in the rules to join the olympiad I would agree more with your words

    Students are required to submit a trading plan and resume. .... Each student's plan should be about a page in length, and should discuss the market(s) traded, product(s) traded (i.e., stocks, options, Forex, etc.) and trading strategy employed.
     
  8. $50K? Sheesh.

    I ought to have my daughter (in B school) enter my REAL autotrader.

    Throw caution to the wind and leverage it up in a paper account and...bada bing, 200% easy!

    Heh, she could always "turn down" IB's offer, 'cause she's not a programmer. :D

    Just kidding. That'd be fraud, huh? :p

    Good trading to all. :cool:
     
  9. Those results are a sketch.

    One guy was penalized for too many trades and another guy who made 41 cents trading won a 1,000 bucks.

    Trading NTRI 3 times would have won the 50K....lol.....
     
  10. Pekelo

    Pekelo

    He was penalized for making too many MANUAL trades, since it was supposed to be programs running.

    But yes, anybody who finished in the green got 1K. And only 20 or so people did....
     
    #10     Dec 14, 2006