One Million Dollars!

Discussion in 'Trading' started by traderlux, Sep 14, 2011.

  1. ...lets see if we cant help each other and be able to say an elite trader won the CNBC your ideas here....
  2. Lucias


    lol.. no real trader would bother with that contest. Those contest are just random results. When having multiple accounts wasn't disallowed, I made a script that created like 100 accounts and randomly picked the most risky stocks. I ended up in the top like 1%.

    No trading skill involved. But, I knew coming in it wasn't a test of trading skill but just a game/contest.

    You could try what I did: just pick the most volatile stocks and hope to hit it big. There isn't any skill involved.

    Managing the 100 accounts with robots became too much work. If I were to do it again and they allow multiple accounts I'd probably shoot for maybe 20 accounts and try a bit more advanced strategy.

    I haven't looked at rules but if they allow options and limit you to 1 account then I might could win it fair and square just by calling direction and going all in every time.

    You know I might try it: a million dollars is a lot. The key in these contests lies in the rules.
  3. cstfx


  4. Lucias


    Yep, I've went briefly through the rules. One thing that stood out is that equity trades aren't charged transaction fees. This could be very beneficial. To their credit, it looks like they don't allow trading in the crap stocks but they also dont allow shorting which can be a big disadvantage.

    Key Limitations: No limit, no short, no margin, and no derivatives.

    Limit orders, open orders, short selling, margin buying, and the trading of derivatives, options, bonds, mutual funds or other securities is not permitted.

    There is a 25% max limit on what one can own too. This could be a problem but adds some realism. Although without shorting hard to see why it matters.

    Each Portfolio’s Equity Account can have up to fifty (50) holdings at any given time. Participants will be able to enter pending trades into a queue during times that each market is closed (“After-Hours”). All orders submitted After-Hours will be executed once the respective market opens at the first “last sale” price when that market opens.

    Participants can only have a maximum of twenty-five (25) pending trades in each Portfolio’s queue at any time and can cancel all pending trades prior to the next market open. Each Portfolio can not have more than one pending trade for the same ticker symbol in pending trade status. No commissions will be charged for trades in the Equity Account.

    new trade request for a particular Equity cannot result in the portfolio percentage for such Equity being greater than twenty-five percent (25%) as of the time the trade is submitted. Portfolio shares must be requested in whole numbers; however, if a Portfolio does not have sufficient available cash CNBC Bucks to make the full amount of the requested purchase, the trade will be partially executed and the number of shares of such Equity will be lowered from the requested amount to the highest whole number for which the Portfolio can purchase such Equity.

    Now for the best part.. they pay you over 25 years! 36k per year. Haha.. Good one. Come on at least make it 50k to 100k per year. 36k per year... Imagine I win the contest I could still be here begging for money.

    payable in an initial one-time payment or payments (as described below) of one hundred thousand U.S. Dollars (US$100,000) followed by twenty-five (25) annual installments of thirty six thousand U.S. Dollars (US$36,000) ; provided, however, that all payments will be subject to any required U.S. federal, state or non-resident alien income tax withholdings.

    Multiple accounts are not allowed but they do give you 5 accounts.

    Use of any automated system (e.g., robots, scripts, automatic, macro, programmed or like methods) is prohibited. Any attempt (successful or unsuccessful) by any individual to register more than once, or to create more than five (5) Portfolios, in any manner, including without limitation by use of an automated system or by using multiple/different email addresses, home addresses, telephone numbers, identities or any other methods, as determined by CNBC in its sole discretion, may result in the disqualification of that individual, as determined by CNBC in its sole discretion.

    Let me repeat 36k per year. You get 100k up front then 36k per year. I can't live on 36k per year. I couldn't even quit my day job for that to trade full-time. Sure, it'd be a good start but 36k per year. Come on.. at least make it like 100k per year. 100k at 8% grows to 1 million in 25 years. I'm guessing the actual value of the prize is worth around 250k-300k.

    Lol, what would I do with 36k per year.. every single year coming in. Travel the world.. on a budget or maybe try to make it trading with 6k. lol. Now if I kept working then it'd be pretty sweet bonus and I could save up pretty quick.

    Plus you do get the 100k lump sum. So, I could probably go full-time trading in as few as 2-5 years.
  5. This is not about the's the fame and glory.
    It could catapult you into a top trading spot at a hedge fund.