Discussion in 'Trading' started by virgin, Sep 20, 2002.
Where can I find more about this competition ? (website)
As long as you understand the way the scam works. Only the names of the top ten are published. So everybody just goes in and trades like a crazy fool at full margin. Naturally, somebody ends up with a spectacular return (while almost everybody elso goes completely broke) and then the one lucky winner can go around and sell books and talk at seminars.
They might as well just have a lottery championship. The winner of the lottery could write a book on lottery ticket strategies.
That's fine with me. I was just talking about this to a couple of my trader friends, and I know I am entering.
Commission on futures are 20$ per round turn.. needless to say that this is not a competition for the active trader
let's say you make 20 round turns in a day you will pay 800 dollars commission then say you make 700 dol you will end the day negative 100 $. Whereas with a broker like IB, you will end the day up $500...
20*20 = 400, not 800.. however, that is still nutso.
That is nutso. I had no idea it was $20 per round turn. I will have to re-evaluate but my inflated ego wants to spank Mr. Super Inflated Ego - Larry Williams.
You think you are going to outperform $10k into $1M (or whatever Larry Williams did)?
I meant 40 round turns.. 40*5= 200 for IB and 20*40=800 for Robbins .. Which is by the way a true example taken from my own hard experience
I made 700 $ and paid 800$ instead of 200$ with abroker like IB..
It is doable but you need to play trend no day trading since you have no real edge...
Good luck to you anyway
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