Need a uniform instrument and that in this case is YM. 1 year is just right, means you have to trade through all kinds of swings, ebbs and flows of one year cycle. Then again, anyone can bet big and run an account up, but to be able to grind it out and survive for a bit longer than that takes true trading skills.
Yeah, 1 year is a bit too long. Six months would be optimal. 6 months would also leave the room for the loser to ask for a rematch etc. Thus, 6 months it is. Duration: January 1, 2006 to June 30, 2006
"2) Post your account statements at the end of the day." This is having to post statments 220 times. That is why I said $22 a day is not worth the hassle.
ripley- Do you have a lawyers opinion and a tax opinion saying how this will be treated, tax-wise or legal wise? eg, is the deal enforceable or is it just a few gamblers creating their own bets? You've left too many variables open for this to be a serious idea.
"2) Post your account statements at the end of the day." This is having to post statments 220 times. That is why I said $22 a day is not worth the hassle. What about paying a neutral party to log into the trading accounts, DL and post the daily results? Do you have a lawyers opinion and a tax opinion saying how this will be treated, tax-wise or legal wise? eg, is the deal enforceable or is it just a few gamblers creating their own bets? You've left too many variables open for this to be a serious idea. ********************* This is just an idea that I cooked up 10 mins ago, and nothing else. I felt it would be interesting to see since I am sure it will keep me focused on my trading, as well as it would exponentially increase my own learning curve that I myself am only happy to pay 10% of other person's winnings. This competition is an aid to make yourself a better trader, and if the end result cannot acheive that then there is no point for those to compete. I left too many variables open because I just thought about it, as well as we still have 5 more months to think it over etc etc.
RIPLEY.....DONT DO IT!! You might loose your whole capital and then you wont be able to trade...ever! :eek: :eek:
Do you have an edge ripley ? Did you not just blow up a 30k account ? You have good intentions but are not pursuing the right direction.
I have an edge. At the end of my senior year in college, I was inching toward either going to a law school or being a trader Had I went to law school, it would've been ~$30K per year for 3 years. And thats the same time period that I would give myself for me to be successful at trading. so, its 1.25 years out, and only down around -$40K now. And that is well short of what I expected to get to a point where I thought I would be profitable.