GOOD POINT!!! So, the competition is off. I think I should have a competion within myself. I think I should trade as though I am in a competion and my goal should be to turn a $10,000 dollar account into a $100,000 account in 6 months. Can it be done?? is it possible for a n00b?? lol.. We shall all see!!!
EXELLENT RIPLEY!!! Have a competition with yourself to see how much and how fast you can learn new techniques. Study, study, study the mkts...until we are big fish in a little pond (in my case a duck). There are some big wigs in this BB who are secretly giggling at me that i will loose all my $$ when i go to eminis....little do they realize my determination to make it. Lets not wipe out and be their source of entertainment...we must be smart about this. Money management / risk control are most important if we are to make it. Slow and steady...slow and steady.....wait until all you have to do to make $$ is to bend down and pick it up.....no chase! Good luck fellow trader!!
A couple of Q's supposing there were a pcompetition: 1. how many participants would be involved? 2. In the proposed period, how late in the period could a person enter with his initial capital of 10,000. 3. how many traders could one person be allowed to bank roll? 4. if a person were to bankroll others, would he be able to coach them? 5. As an alternative to 2. above, if it were required for all to begin at the same time, could there be a moving target goal of some specified graphically illustrated ceiling that could be broken through to cause all others to pay up the prize? 6. Would you condier having the winnings donated to a 501 (C) (3) type thing instead of just someone who already knows how to make a lot of money? 7. Why not start when we come out of the summer doldrums and then let the end be during the summer months when most skills are required? Sort of a good way to separate the classes in the fleet of racers. 8. How about everyone trading out of the same IB who monitors and gives us a standard bulletin on accounts? 9. Would there be a way the poorer traders could have their accounts brought back to a good winning level by setting up small groups (like foursomes in golf) to play out the last half of the contest based upon a handicapping established by the first half of the contest? A foursome of 1 and 2 with n-1 and n. I guess that screws the breakeven foursomes right off, though. 10. finally, a long contest with repeated handicapping of foursomes would be the nuts for getting people to really make the money laying around out there. Check out the one point a day loser thread running now.
Ripley, Your emotions, youth, greed, etc..WOW!!!!!..the big boys are smiling...they love the easy ones with big accounts....your money apparently was not made by you, if it really exists. Otherwise u would not be in the business of throwing it away. Remember, it takes 5 years to really learn this business if ur smart...if u r really smart it takes 10.......if u think college degree required determination u ain't seen nothing yet.......
Dear Ripley What kind of obejctive's will you meet ? 1.Glory ? 2.To use competition for meeting of economical ob'jective's through Advertising of result,trading platform,method with folloving advice ,teaching ,money management & ?/Larry Williams good example / 3.Price for winning ? If Glory ,than better USA Championchip ,which was directed before from Dr.N.Zade /today owner of www.perfectten.com ,you can try connect he'm by this adress/ If point 2 , author would suspect ,that result or method is false as in case of L.Williams Winnig price is irrelevant for small operator ,if he very good one , approx 1100% for half year must be . Excuse the author ,if questions are not relevant.
Do I hear....Competition. Why don't we start on September 26th! :eek: Competitions are great for getting all the argumentative types out of the woodwork..........LOL!
Just curious. If you are so good at what you do, then why not just do it and enjoy your craft, and let it enrich your life both financially and otherwise? Why the need for a pissing contest? Is trading not sufficiently competitive for you as it is, that you feel the need to compete with specific individuals as well as with the market in the aggregate? Perhaps I am unduly biased, but I can't help but think that people who have something to prove harbor insecurities. I find this vexing because I would think proficiency would moderate such insecurity. Of course, I am not a psychologist and I only respectfully offer my personal viewpoint. On the other hand, perhaps I am just getting too old to seek out additional competition (and the occasional excitement) than what the market already provides.
Appreciate everyones' concerns. I am a firm believer in shooting for the biggest and the best star way way up there, rather than just for the stars. I want to be on CNBC's Top 30 traders under 30 before I turn 31. Competition is always good. The first time I broke 70 on the golf course in my soph. year of high school, I was playing with a local golf pro who won several mini tour tournaments. In order to be the best, you have to seek out the best and demolish them. That was just what I was trying to do. Looks like 10% wasn't much, and I might need to up that a bit.
Or even (since 6 months is already a long time for a contest), start trading December 1 for 6 months? You'll get some year end stuff, plus holidaze doldrums plus tax time and the whole month of May. Not quite summer snoozefest, but close.