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TOPIC: Competitions

Competitions 24 Oct 2012 15:07 #1

  • gclark25
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followNev wrote:
i guess it could work out like this where, Remo does a scan, chooses a security to trade, we all try and trade it the best we can.
prizes to the most amount of pips/points , best execution, best trade analysis, anything along those lines really.
It's good to get a lot of peoples view on a trade, as it highlights what works, why it works and also when it works. The comparison to a bad execution of the same trade is like a massive learning curve.

Obviously we probably wouldn't want to trade live but if we did it would enforce greater discipline. Would also highlight which brokers were able to execute the best.

It could run also theoretically where we submit our entry, stop and limit pre 9am and then at 4.30pm the hypothetical trades are totted up.

Something like this could be very interesting if done right.

Rules such as no hindsight trades obviously.

Remo could scan a security as you say, and then place timeframe on said security, for example one day, 3 days, a week.

Then each person involved in the competition (would have to confirm participation) could then post trade set ups with trigger prices, stops, limits - then any subsequent actions such as scalps or moving of stop losses etc.

All trade actions must be stated in real time, but before the action can occur.

All entrants trades are then tracked or audited by remo or someone else at the end of the period.

Entrants must be capped, for example 5 entrants maximum, as too many will provide too much auditing unless there is a clear platform or process of monitoring their trades via computer. (not sure if there is some form of backtesting that can be done)

Anyway, if successful in a few free trials - you can maybe set up some entrant fee, and winner takes all - or even winner takes 80% and Remo (or other tester) takes a cut for doing the auditing etc.

Guess there is a few things you can do here.
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Competitions 19 Oct 2012 19:57 #2

  • ronnie
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Sounds good to me, let me see what I can do ;)
Information purposes only, Do your own research,
All share trading carries risk,
Ronnie
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Competitions 19 Oct 2012 18:16 #3

  • followNev
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i guess it could work out like this where, Remo does a scan, chooses a security to trade, we all try and trade it the best we can.
prizes to the most amount of pips/points , best execution, best trade analysis, anything along those lines really.
It's good to get a lot of peoples view on a trade, as it highlights what works, why it works and also when it works. The comparison to a bad execution of the same trade is like a massive learning curve.

Obviously we probably wouldn't want to trade live but if we did it would enforce greater discipline. Would also highlight which brokers were able to execute the best.

It could run also theoretically where we submit our entry, stop and limit pre 9am and then at 4.30pm the hypothetical trades are totted up.
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Competitions 19 Oct 2012 16:50 #4

  • ronnie
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Thanks for your suggestions followNev.

How would you see the trade of the day working?

People posts their trades during the day and at the end see which one did the best?
Information purposes only, Do your own research,
All share trading carries risk,
Ronnie
www.chartsview.co.uk
www.facebook.com/chartsview
twitter.com/chartsview
www.linkedin.com/company/2766233
chartsviewblog.tumblr.com
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Competitions 18 Oct 2012 21:58 #5

  • followNev
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a bit of competition is always good.
we're all essentially trying to beat each other at something.
Trade of the Day is probably the easiest to do regularly, and maybe a head2head trader match would be fun.
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Competitions 18 Oct 2012 16:06 #6

  • ronnie
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Hi all,

I'm thinking of setting up some competitions I thought it would be fun and provide some light relief from the stresses of trading. :)

Maybe once a month and have a prize for the winner, not sure what you guys think about that?

Let me know your thoughts?

Thanks,

Ronnie
Information purposes only, Do your own research,
All share trading carries risk,
Ronnie
www.chartsview.co.uk
www.facebook.com/chartsview
twitter.com/chartsview
www.linkedin.com/company/2766233
chartsviewblog.tumblr.com
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