Pretty much exactly what I thought when I read the rules, it's not really a trading contest or challenge, more like a promo giveaway.
CME "Trade Against a Pro" Trading Challenge - December 8th Sunday - 13th Friday
- Thread starter wrbtrader
- Start date
Pretty much exactly what I thought when I read the rules, it's not really a trading contest or challenge, more like a promo giveaway.
Only if you do not know some on the leader board. My point, I've watch a few trade in person in their real money trades (a few for many years) and they also do very well in the CME trading (simulator) competitions. Thus, based upon what you say...their profits are just as lucky in their real money trading too considering their trading style & trades in the sim are very correlated.
Yet, I'm sure there's others that were lucky to make it on the leader board. Simply, we're both right.
Also, yeah...the CME has been a little heavy handed lately in their promotions in the CME Group. Can't blame them considering they are a stock (Symbol - CME). Actually, I wouldn't be surprise if they start having "international competitions" and bigger prize awards considering they become sponsors for some of the top Universities in university level competitions.
Further, not anyone can throw a dart to win or else everyone would be doing it and winning at the exact same time (not possible).
wrbtrader
Thus, based upon what you say...their profits are just as lucky in their real money trading too considering their trading style & trades in the sim are very correlated.
5 days trading in SIM is not a real contest - absolutely no consequences. 5 days is a small sampling rate, luck plays a real role. Go long on low float penny biotech/drug stocks moving in premarket and pile on if the Rvol stays high & price trends - size up into every pullback. Not much skill since you won't lose a dime.
They used to have contests trading real money/real accts, & real consequences that lasted 4 months and yea, the best traders like the pit bull or Minervini often won - but not always.
Whats the motivation to take a week off from trading real $ to compete in SIM? 1st prize is only $2,500? Some may find it fun & can take time off - but I doubt many 'pros' get easily distracted from their trading plan to play games. Maybe some will for any publicity if the win to get OPM?
Last edited:
How do you pile on and the volume sends them trending in a Sim account?
You're misquoting him.
Regardless, it's irrelevant whether it's sim or production, unless the shares are so thin that a production account order would impact microstructure.
Strongly agree.
Yet, I don't look at the 5 day sampling rate. Instead, I look at certain individuals (user names) over a accumulation of several trading competitions and looking at their real money trades. As I mention before, I personally know a few and have seen them trade in real accounts. Combining that with several tournament results including prior tournament results in the University trading competitions...
For me, I see a little more than a 5 days small sampling rate size. Yet, for those I don't know, I really can't speculate if its lucky, throwing darts, astrology or whatever.
In contrast, I do know for fact a few Universities in the trading competition because of sponsorship and other academic reasons. Actually, the Rotman International Tournament probably reveals more about why someone may compete and rewards beyond being on the leader board in comparison to the CME Group trading tournaments.
Thus, obviously the Universities are more concerned about other reasons considering a few K in prize money is nothing to them...a way to pad the academic on resumes of their students when applying for a job.
I guess I'm saying it makes more sense about why Universities compete especially in tournaments like the Rotman that requires many to travel around the world. Yet, as stated, I know some that use the CME Group tournament as a stepping stone into the University level competitions.
My niece & nephew put their results on their application into college two years ago just like they mentioned the volunteer work at the local dog shelters and homeless shelters on their application into college. Now they're still competing in the University trading competitions and I'm sure they'll put that on their resumes when they graduate from college and apply for jobs.
wrbtrader
These "contests" can not be won using a Ron Popeil set it and forget it methodology.
And if your interest is not in the purse, then what is your point of entering a sim contest?