Robbins World Cup E-mini Contest
- Thread starter smilingsynic
- Start date
our other guru, p.logic, is also backing out.
surf
Quote from Pekelo:
It is not the contest, it is Larry.
Fine little thread we got here going....
Anyway, to answer Thundy's questions why Larry's students can't replicate his results:
1. Maybe some can but keep it to themsleves. Most very successfull traders don't seek the spotlight.
2. Market conditions change all the time, so it is quite possible that back in the 80s and 90s the conditions were more preferable for larry's style.
3. Did he ever say that he teaches EVERYTHING he knows? Maybe he taught his daughter a few extra strategies what makes her performance better than his average students'.
I could think a few more responses, but it is lunchtime, if you don't mind...
You are one smart guy.
Good trading,
JJ
No again.
It's all relative.
While I (and most retail traders) don't operate on that level, there have been some who have passed through here who do (chancy1, Rearden Metal).
The gains and losses as percentage of total capital are probably pretty much consistent across the board. The amount of capital that one is working with, is irrelevant (in fact, if you have the money to lose, losing a mil is probably a lot easier than losing 5 G's).
Good trading,
JJ
Oh, come on! What are the odds that "losing $1Mil is easier than losing $5k?"... that's a stupidass comment.
If you have put up $1Mil for the contest, others may view that as "significant". If you put up $5k (regardless of how precious that is to you), others will view it as pocket change.
So if $5k is significant to you, the ONLY way you can make it appear significant to others is to enter, re-enter, re-enter the contest(s) until you've demonstrated long enough that you can "handle the market". One 3-month period of huge results is more likely to be a matter of luck rather than skill.
Larry Williams won a trading contest at a time when time stamps were a serious problem in the markets. Also, at around the time stamps were a serious concern, Larry's own trading account was doing well while his managed accounts were simultaneously doing exceptionally poorly...
Does anyone hear the wake-up call? Yes, Pekelo, it was indeed a different time back then, amenable to certain "strategies." Time stamps have since been investigated by the FBI* and, rather coincidentally, Larry doesn't manage anyone else's money any more.
* You may wish to read "Brokers, Bagmen, and Moles: Fraud and Corruption in the Chicago Futures Markets" by David Greising and Laurie Morse.
Does anyone hear the wake-up call? Yes, Pekelo, it was indeed a different time back then, amenable to certain "strategies." Time stamps have since been investigated by the FBI* and, rather coincidentally, Larry doesn't manage anyone else's money any more.
* You may wish to read "Brokers, Bagmen, and Moles: Fraud and Corruption in the Chicago Futures Markets" by David Greising and Laurie Morse.
It's not the contests which bring out the ugly... it's the braggadocio and trash-talking about them.
THE reason for the bigger money contests in the 80's and 90's, was that there was lots of bragging and little actual performance... no different from today. The contests sifted the "wheat from the chaff"... too bad we don't still have them.