Monthly tournaments on ET

I

IV_Trader

I am not sure if its already been proposed in the past..
But anyway , can ET arrange and run monthly tournaments (for real money) ?
If yes ( and certain % goes to ET , of course) , can it be broken by categories like :
Stocks
Options
Mix
I am almost sure that many members will be interested.
 
Quote from IV_Trader:

...
I am almost sure that many members will be interested.
More...

Indeed, but the real traders won't be interested. So what's the use?
And even if there are brilliant traders with brilliant returns, what's the use of it for the others?

I will never get better by seeing how much money others make. On the contrary, i could get depressed.

Knowledge is usefully, returns aren't.
But mostly the returns ( real or fake) are posted, but not the knowledge.
 
Quote from spike500:

Indeed, but the real traders won't be interested. So what's the use?
And even if there are brilliant traders with brilliant returns, what's the use of it for the others?

I will never get better by seeing how much money others make. On the contrary, i could get depressed.

Knowledge is usefully, returns aren't.
But mostly the returns ( real or fake) are posted, but not the knowledge.
More...

For two reasons :
1. Winning and getting PAID.
2. Based on tournaments results ET can create and post individual ratings.
Then they should create a "Pay per View" section when one member can subscribe to the other member service and view/learn his strategy or recommendations( and ET will get a piece of action too). Its a win win win situation to all parties.
 
Quote from IV_Trader:

I am not sure if its already been proposed in the past..
But anyway , can ET arrange and run monthly tournaments (for real money) ?
If yes ( and certain % goes to ET , of course) , can it be broken by categories like :
Stocks
Options
Mix
I am almost sure that many members will be interested.
More...

Yes...this has been proposed in the past several times.

In my opinion, the only way it can work is to have a tournament that's sponsored by the brokers (sponsors of ET).

Then only clients (traders) of those brokers are allowed to participate.

Tournament should be via real money results for real money prizes...

With all the usual rules so that someone with a big account size doesn't have an advantage over someone with a small account size.

There should also be an entry fee...a fee that's extremely small in comparison to the prizes for the top place winners.

However, being the big sports fan that I am...

I would rather see a playoff style tournament.

A tournament that has a regular trading season and a post trading season.

Thus, the top 32 traders makes it to the playoffs sort'uv speak.

Then one trader competes against another trader to determine whom advances to the next round of trading until there's a championship match.

Hey...get CNBC, Bloomberg coverage...

Could be a big money maker for the advertisers, sponsors and traders.

Heck...start a Trader Tournament online newsletter with a small subscription fee.

Imagine the headlines...

Velocity Futures trader clobbers IB Futures trader in quarterfinals !!!

:D

Another headlines...

West Coast Division Champ defeats Southwest Division Champ to make it into the Championships !!!

And another headlines...

French Paris League Champ wins World Trader Championship !!!

Winner can also be offered a mega deal trading position that makes his normal yearly profits seem small.

How about this...throw in a guaranteed book deal for the winner...

We may just have something here.

:D

Maybe it can then develop into something like the "Trader Idol" that's spun off the "American Idol" show.

How about this...the "Trader Apprentice" that's spun off the "Apprentice" show.

Yet, in my opinion to get something like the above started...

Would be an enormous task and maybe not worth the time and effort to those managing such...

Fun thinking about it :cool:

NihabaAshi
 
Quote from NihabaAshi:

Yes...this has been proposed in the past several times.

In my opinion, the only way it can work is to have a tournament that's sponsored by the brokers (sponsors of ET).

Then only clients (traders) of those brokers are allowed to participate.

Tournament should be via real money results for real money prizes...

With all the usual rules so that someone with a big account size doesn't have an advantage over someone with a small account size.

There should also be an entry fee...a fee that's extremely small in comparison to the prizes for the top place winners.

However, being the big sports fan that I am...

I would rather see a playoff style tournament.

A tournament that has a regular trading season and a post trading season.

Thus, the top 32 traders makes it to the playoffs sort'uv speak.

Then one trader competes against another trader to determine whom advances to the next round of trading until there's a championship match.

Hey...get CNBC, Bloomberg coverage...

Could be a big money maker for the advertisers, sponsors and traders.

Heck...start a Trader Tournament online newsletter with a small subscription fee.

Imagine the headlines...

Velocity Futures trader clobbers IB Futures trader in quarterfinals !!!

:D

Another headlines...

West Coast Division Champ defeats Southwest Division Champ to make it into the Championships !!!

And another headlines...

French Paris League Champ wins World Trader Championship !!!

Winner can also be offered a mega deal trading position that makes his normal yearly profits seem small.

How about this...throw in a guaranteed book deal for the winner...

We may just have something here.

:D

Maybe it can then develop into something like the "Trader Idol" that's spun off the "American Idol" show.

How about this...the "Trader Apprentice" that's spun off the "Apprentice" show.

Yet, in my opinion to get something like the above started...

Would be an enormous task and maybe not worth the time and effort to those managing such...

Fun thinking about it :cool:

NihabaAshi
More...

good post Nihaba , sorry to hear that it was proposed in the past... probably won't happen then. Its a shame , could off a be win win for all. I think that participants should pay for the entry ( ala poker tournaments) and use paper trading platform (many brokers have it) , then we all equal in margins , rules and commissions. I personally interested in Option's tournament , but looks like not to many takers here. Let me know if you know of other site or broker that sponsoring similar event.
Thanks
 
Quote from IV_Trader:

For two reasons :
1. Winning and getting PAID.
2. Based on tournaments results ET can create and post individual ratings.
Then they should create a "Pay per View" section when one member can subscribe to the other member service and view/learn his strategy or recommendations( and ET will get a piece of action too). Its a win win win situation to all parties.
More...
Only a fool would divulge a winning trading method that is still functioning as intended. And only a fool would actually believe that this is what he is buying. Just my opinion.
 
Quote from Thunderdog:

Only a fool would divulge a winning trading method that is still functioning as intended. And only a fool would actually believe that this is what he is buying. Just my opinion.
More...

just as FYI ... Strategy Runner software have similar functionality: one can subscribe to existing strategy and even "mimic' (automatically) every owner's strategy move/trade. I heard clients using it , so I guess its a lot of foolish people out there. I personably wouldn't share my strategy ( not liquid enough) , but I don't see anything wrong if successful future of FX trader will pick additional income by having "paid followers". If I see the same person reaching the "final table' month after month I would of subscribe to his service (atleast just to try), I don't see nothing wrong with this . Let's the results speak for itself. I do see it as a win win for some ( obviously not for everyone). Just my opinion here.
 
Quote from IV_Trader:

just as FYI ... Strategy Runner software have similar functionality: one can subscribe to existing strategy and even "mimic' (automatically) every owner's strategy move/trade. I heard clients using it , so I guess its a lot of foolish people out there. I personably wouldn't share my strategy ( not liquid enough) , but I don't see anything wrong if successful future of FX trader will pick additional income by having "paid followers". If I see the same person reaching the "final table' month after month I would of subscribe to his service (atleast just to try), I don't see nothing wrong with this . Let's the results speak for itself. I do see it as a win win for some ( obviously not for everyone). Just my opinion here.
More...
I agree. Let the results speak for themselves. Being the skeptic that I am, however, if it happens to anyone other than me, then it is just a promise. So, I suggest you adopt the same outlook. When you achieve the results that the vendors promise, then the results will speak for themselves to you. Until that time, anyone else's performance, even if he appears to be an arm's-length third party, is just a promise, implied or otherwise. Again, just my opinion. And if I may stick my neck out, I would venture to predict that the results will fall short of the promise.
 
Quote from Thunderdog:

I agree. Let the results speak for themselves. Being the skeptic that I am, however, if it happens to anyone other than me, then it is just a promise. So, I suggest you adopt the same outlook. When you achieve the results that the vendors promise, then the results will speak for themselves to you. Until that time, anyone else's performance, even if he appears to be an arm's-length third party, is just a promise, implied or otherwise. Again, just my opinion. And if I may stick my neck out, I would venture to predict that the results will fall short of the promise.
More...

agree , Thunder. I am a sceptic too , but I would of take a chance to subscribe/pay for mentoring from two ET members ( option traders) that I watched for some time. I read their posts and I like what I see. In the poker terms , it would be like me making a small side bet every time Phill Ivy plays , I know I will be ahead. What looks very naive(and maybe a bit foolish ) to me , it when so many newbies on ET getting unwarranted advises from total strangers , or ready to join the prop firms (without checking them) and deposit their own money.
Well , looks like tournament is not going to happen anyway...
Good luck with your trading.
 
You guys went from real trading tournament sponsored and verified by the brokers themselves with the help of ET (at least that's what I suggested) to talking about vendors, implied performances, paid followers et cetera...

Regardless, trying to get someone to setup a real trading tournament along with showing the strategy behind the trades so someone can follow along will keep any broker and most sponsors from getting involved due to legal issues.

It'll scare away all the fun and the good traders.

Think about...a real trading tournament and they cannot write in their disclaimer...

Hypothetical Results or Educational Purposes Only.

My point...if your looking for signal calling stuff...

You don't need to set up a trading tournament as a smoke screen to find such.

Then again...maybe a trading competition can only be setup or sponsored by brokers, advertisers and ET if it was only hypothetical results to remove all liability.

Here's a sports analogy...

Do NFL or NBA or NHL coaches show their playbook to the public or as a paid subscription after winning a championship...let alone after each game ???

However, most sports analysts, players and some fans knows what's out there (no reinvention of the wheel)...

Yet, knowing when such will be used is a different story.

Even if you had access to the playbook sort'uv speak...

Do you have the talent, discipline, patience and resources to execute the same exact playbook ???

Most don't and a few will.

Therefore, majority will say it doesn't work...no matter how many titles or playoff games are won. :D

NihabaAshi
 
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