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Friendly vendor competition?

  #23 (permalink)

Elite Member
Monterey, CA
Trading Experience: Intermediate
Platform: Ninjatrader
Favorite Futures: CL
Posts: 80 since Jan 2014
Thanks: 28 given, 97 received

kevinkdog View Post
@Dionysus - Did you ever get any other vendor to agree to join the competition?

Unfortunately, you probably never will find any, because this is what typically happens in this industry...

I had a friend ask for "proof" from one of these trading room vendors, and here is the reply he got:

"We make money every month in a Sim account. A Sim account mimics a live account to within 95% accuracy. If you would like to see SIM data, we would be happy to provide you with it. "

I guess at least he admits he doesn't trade live. I'd love to know how he provide the 95% accuracy claim, since he has no live trades to compare to SIM.

Anyhow, I'm sure that vendor is a SIM millionaire!

Haha. Yes, sadly that response is par for the course. .

Step 1: Create 15 sim accounts, place different strategies to trade on each
Step 2: Choose the best 2 or 3 to show to the world to prove your trading prowess
Step 3: Profit

I was actually so disheartened by my post and the responses therein, that I, ironically, shelved my own web site I'd created. . . indefinitely, quite probably permanently.

I had high hopes of a lively competition, and proving what can be done via systematic trading, with discipline and effort and listening intently to proper mentors (such as yourself). . . but after learning how vendors are viewed by the community at large, and justifiably so, I don't know that I want to enter that fray, esp as the profits would be minimal relative to trading.

Also, Fiverr, you make an excellent point, in regards to luck/randomness/market-chaos being a massive factor in many of these competitions. This is why I specifically asked that the competitions require X amount of trades. . . with a large enough data pool, the chances of your success (or failure!) being attributed to luck and chance are greatly minimized.

I'm still more than open to any sort of competition along those lines, I'd absolutely love it. . but I have yet to met a single vendor confident enough in their end result products to engage in said competition, and from the sounds of it, I likely won't. If this changes, or if anyone can round up even one or two vendors who are willing to engage in some friendly competition, I'd be thrilled to do so.

I still tend to think it'd be a great learning experience for the community, especially those traveling down the same path of systematic/automated trading, and especially especially those that are fairly new to this path.

Merry Christmas, everyone!

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