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Trading Competitions?
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Trading Competitions?

  #31 (permalink)
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sysot1t View Post
I agree, the biggest challenge to finding a real professional trader, or even an institutional one, who might be willing to share is that 1) he/she lacks patience to deal with what they will consider stupid questions, and 2) ones account size is small in comparison... I mean, I know of guys on the bank that make a few Million a year in bonus only because of their P&L... I try to learn from them by just observing when they allow me on their desk during the trading day... but they are trading with a few hundred million of the banks money... and their strategies are not the same as what one would use unless ones funding was that resourceful... the only thing I have been able to "mimic" from work is the spreads trading, and at that, doing it with the most affordable ratios I can that get close enough to neutral with, and adding my own variation of exiting the losing spread leg once I am certain of the direction of the markets in question and then increasing the position on the winning leg... I dont give much of anything away by saying that part.. the trick on spreads is on the formulat to calculate the right ratios given a specific instrument..

You should start a spread trading thread, there's hardly any posts about it, and yet it's prevalent in professional trading.

If I only were a little less paranoid, I would share some of my work...

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  #32 (permalink)
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Lornz View Post
You should start a spread trading thread, there's hardly any posts about it, and yet it's prevalent in professional trading.

If I only were a little less paranoid, I would share some of my work...

hehehahha.... I will think about it... but like you said, I would be hesitant to share my formulas, so it would be a bit difficult to answer some questions about why the ratio changed all of the sudden one day vs. another or why I switched one of the market legs without going into explaining the thoughts behind it, which leads to the formulas then being disclosed... we'll see...

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  #33 (permalink)
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Lornz View Post
I agree that it eludes most on boards like this that we are all (ultimately) in aggressive competition against each other

I like to picture myself trading with a collection of really good friends (futures.io (formerly BMT) members) so I don't trade against them, I try and help them as much as possible.

But if you aren't a futures.io (formerly BMT) members, then yes - I am taking your money all day

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  #34 (permalink)
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I like to picture myself trading with a collection of really good friends (futures.io (formerly BMT) members) so I don't trade against them, I try and help them as much as possible.

But if you aren't a futures.io (formerly BMT) members, then yes - I am taking your money all day

Mike

haha

That's a nice way of looking at it, but I'm not sure my trading system could sustain having 17 903 additional accounts trying to get in front of me... However, If it can, I'd rather have that capital in my fund so I could get some percentages...

That might make me a bad person, but so be it... I try to help where I can in other areas...

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  #35 (permalink)
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Lornz View Post
haha

That's a nice way of looking at it, but I'm not sure my trading system could sustain having 17 903 additional accounts trying to get in front of me... However, If it can, I'd rather have that capital in my fund so I could get some percentages...

That might make me a bad person, but so be it... I try to help where I can in other areas...

hehe, well on any given day only 5,000 login, and of those half say they are sim, and of the rest, maybe we don't trade the same instrument or same time frame or same setups

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
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2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
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4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
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6)
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  #36 (permalink)
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sysot1t View Post
not assuming anything about GaryD... I dont know him... only going by his statement and argument... and based on his argument as to



is why I state that he must not realize that we are competing against each other in the real world, given that anyone that has a clear understanding knows that pressure exists no matter what... one competes against others, or competes against oneself... so pressure, no matter what..

also, what thread are you referring to? I am only going by what he has posted on this specific thread, I dont see why I should have to research an individual to understand what they are trying to say if you are suggesting that I should visit his other threads... or, by thread, are you referring to his comment on this thread? unclear about your statement.


No offense taken.

To truly be a trader, you need to trade real money. But I always suggest that it is more important to learn how to trade than it is to make money. The next trade is always there, whether someone is ready tomorrow or in 5 years.

My input on the possible futures.io (formerly BMT) trading competition is really not that far from you were saying; Yes, trading is already competitive. I've taken someone's money every day for awhile now, and expect to take a lot more. And, also expect to lose money occasionally.

Besides being a trader, I was and still am an entrepreneur and have not had any "guaranteed" income since 1993. Life in general is survival of the fittest, and I actually like it that way, even though my wife would possibly sleep better if I received a salary

But, I guess what I was suggesting is that futures.io (formerly BMT) may not be a place for us to compete as much as a place for us to unite.

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  #37 (permalink)
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GaryD View Post
No offense taken.

To truly be a trader, you need to trade real money. But I always suggest that it is more important to learn how to trade than it is to make money. The next trade is always there, whether someone is ready tomorrow or in 5 years.

My input on the possible futures.io (formerly BMT) trading competition is really not that far from you were saying; Yes, trading is already competitive. I've taken someone's money every day for awhile now, and expect to take a lot more. And, also expect to lose money occasionally.

Besides being a trader, I was and still am an entrepreneur and have not had any "guaranteed" income since 1993. Life in general is survival of the fittest, and I actually like it that way, even though my wife would possibly sleep better if I received a salary

But, I guess what I was suggesting is that futures.io (formerly BMT) may not be a place for us to compete as much as a place for us to unite.

hey, you took my money the other day... give it back!! :P ... just kidding... I am sure someone took my money two weeks ago when I got stopped out from being stubborn and trading when my mind wasnt into it due to lack of sleep..

btw, my hat off to you... I need the mental security of a salary from a company... but then again, I am expendable and I have been terminated before... so that goes to tell you that it is all in my head as I have not made the transition you have..

as to futures.io (formerly BMT) being a place to unite... i guess... but here is what I believe... the most successful predators, hunt in packs ... but trading is really a solitary thing unless you find common ground... futures.io (formerly BMT) might facilitate where to find some people with common ground that will be willing to join forces and hunt as a pack... and in that way, it might unite some, but not all...

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  #38 (permalink)
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cory View Post
to make it fierce, limit loss should be -300 a day then at least sim trader can learn some good habit.


Limit loss of $300.00 per day may not be realistic for certain markets. Maybe for ES, TF, and other "back & forth" type moving markets, but more volatile / directional markets like GC, 6E, CL, SI etc may require a little more breathing room.

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  #39 (permalink)
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sysot1t View Post

as to futures.io (formerly BMT) being a place to unite... i guess... but here is what I believe... the most successful predators, hunt in packs ... but trading is really a solitary thing unless you find common ground... futures.io (formerly BMT) might facilitate where to find some people with common ground that will be willing to join forces and hunt as a pack... and in that way, it might unite some, but not all...


Absolutely, trading is solitary. We all compete as one against the world when we trade in the markets. (Unless you share an acount, like a trading pool.) And, no, the world will never unite.

But, futures.io (formerly BMT) is one of the few places I have seen traders offer so much of their time, expertise, programming skills, customized indicators, techincal knowledge... and not charge for it.

I think it would be fun to have team leaders that trained other traders, and then competed against other trainers and their teams. Just a thought.

I'll probably be there either way; live, sim, team, one-on-one...

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  #40 (permalink)
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New Competition starting 19th September


Hi,

have a look at this www.milliondollar.cnbc.com
1st price: 1.000.000 $
2nd price: Maserati
Its a pitty that the participants are limited to the residents of the US, UK and Australia.
Hope one of you will maybe drive this Maserati...

Cheers
Jones

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