whats the point of trading contests?

E

ER9

i assume its just to get the attention of traders to a new exchange product. not to sound ungreatfull but who do they expect to attract offering such small amounts like $1000.

is there something im missing? are they that successfull attracting attention with the contests? i wouldn't think cme needs to hold such a contest to bring in interested traders.

http://www.lind-waldock.com/tradingcontest/trading_contest.cgi
 
DOH! never mind.....the original email was from cme but re-directs to the firm lind-waldock.....ahhh...now i see the truth grasshoppa........
 
Quote from ER9:

i assume its just to get the attention of traders to a new exchange product. not to sound ungreatfull but who do they expect to attract offering such small amounts like $1000.

is there something im missing? are they that successfull attracting attention with the contests? i wouldn't think cme needs to hold such a contest to bring in interested traders.

http://www.lind-waldock.com/tradingcontest/trading_contest.cgi
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Good question & have thought a lot about this;
several good reasons, including marketing like XOM donates a ''small' $$ amount to saving wild tigers:cool:

1]Some contests can really make you think;
M Weinstein winning CBOE contest by turning 100k into 900k was it 3 months] ???Schwager book]:p

2] Dont know why a profitable scalper would risk the exposure & time ;
especially since its mostly those scalpers that win[emini]
=========================================

3] Entered Eurex-US- ER2 equivelent contest; because after thinking about it for about a week figured i could place well, maybe win
& with me trading with 60 minute candles... my swingtrading fited it fine [sfomag .com contest] .

4]Also its a win /win for contest sponsors ;
they get some trading ideas no doubt

:cool:
5]Placed about top 20% in that contest, 30 days if i remember;
also its more pressure than you think cause you agree they can publish your losses-blow ups & wins if they desire

6] Also figured many would blow up cause there is pressure to oversize possitions:D ;
sure enough a high % blew up thier contest ''accounts''

7] Actually believe but cant prove it so could be wrong;
a winner could get some doors opened;
& if they continue to trade ''contest position size,'' risk more bowUPS, but that s speculation

7.77]Plus its like helpful papertrading , but lacks the permanance-reliability of paper trading ,a contract one is intersted in.

ER9 you must be a scalper????;
becuase a intraday swing trader/eod swing-position trader can manage multiple contracts/markets/contest rather simply.

Hope this wisdom helps ;
it helped me.
 
They try to sell you services and steal your trade methods! :)


....and PFG, stop calling me and telling me there is dual account capability now for the marketczar competitions - I am not playing. :D
 
Quote from 5Pillars:

They try to sell you services and steal your trade methods! :)


....and PFG, stop calling me and telling me there is dual account capability now for the marketczar competitions - I am not playing. :D
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''Steal your methods'' ??? if you enter their contest;
that is understood you give up your privacy[part of your system]

That was thre main thing i thought about for a week;
dercided to enter because;
1]trading is mostly emotional discipline, not ''secrets'' like 50dma

2] You either believe Rich Dennis or you dont , you could put the turtle rules on the Wall Street Journal & most would goof them up.

Actually I agree with that;
& the turtle rules have been published:p :cool:

Hope this helps;
it helped me
 
Quote from murray t turtle:

=============
Good question & have thought a lot about this;
several good reasons, including marketing like XOM donates a ''small' $$ amount to saving wild tigers:cool:

:) i know i have to give them credit...they have made some nice contributions to something i'm passionate about.....:)

1]Some contests can really make you think;
M Weinstein winning CBOE contest by turning 100k into 900k was it 3 months] ???Schwager book]:p

true iv'e learned a few things from the public exposure of one particular forex contest winner......

2] Dont know why a profitable scalper would risk the exposure & time ;
especially since its mostly those scalpers that win[emini]

good oportunity maybe for the unprofitable or poor scalpers :P
=========================================

4]Also its a win /win for contest sponsors ;
they get some trading ideas no doubt

agreed

6] Also figured many would blow up cause there is pressure to oversize possitions:D ;
sure enough a high % blew up thier contest ''accounts''

that could work in our favor if were carefull.....:)

I always figured as well most people just go for broke and just risk everything on the longshot. wonder how much skill the winners actually have rather than just pure luck, especially these 1 day events.

ER9 you must be a scalper????;
becuase a intraday swing trader/eod swing-position trader can manage multiple contracts/markets/contest rather simply.

nope not at all. most positions are held anywhere from 5-30 minutes on average but sometimes on days when the markets just not going anywhere i will hold a position for several hours or take none at all. although to be honest if i were to enter a one day event i would scalp it like a madman

[/B]
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:) :)

the above event appears to be nothing more than a way to drum up a few accounts for the sponsoring firm, at a quick glance. be nice to see 100k event come down the pipe to get some friendly competition going....sort of like a small tournament over a longer period....say 1 month :)
 
Another contest for FX is at
http://www.fxcm.com/fxpc-trading-contest.jsp

They trade real money for a month and then post the trades used in the contest.

I thought it was interesting to see how the winners each month were making their money.

they had another contest at
http://www.forex.com/contest_results.html

By clicking on the 'trade activity' link you can see every trade of the past month.

It is interesting to see different trading approaches over the same time period.

Robbins has a contest a year long but charge way too much for each trade.

http://robbinstrading.com/worldcup/standings.asp

Good luck!
 
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