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Maybe you're misunderstanding me. The Robbins Championship contest is a
real money contest. You must open an account with Robbins for at least
$10,000.
With that in mind, do you still feel that "The absolute worst thing you
can do
with money, aside from paying taxes, is give it to someone who has just
won a trading contest to manage the same way he won the contest" ?
And are there other real money trading contests out there? Are any worth
competing in? Marty Schwartz profiles winners of the US Trading
Championship, but I don't think they run it any more.
Ed
"Hit hard. Hit fast. Hit often."
- Fleet Admiral "Bull" Halsey
"We're going in and we're going in full throttle...that ought to keep
those fighters off our backs."
- Luke Skywalker on Death Star assault tactics
On Thu, 21 Jan 1999 08:51:28 -0800 (PST) znmeb@xxxxxxxxxxxx writes:
>[Quoth the Edwin J DeGuzman:]
>>
>> Robbins Trading Group has held a trading contest every year for the
>past
>> 16 years. The entrance fee is $1000, which seems rather steep. It
>runs
>> from Jan 1 to Dec 31, and the top prize goes to the account with the
>> highest percentage returns, obviously.
>>
>> It seems to be a marketing ploy designed to drum up business, so I
>am
>> immediately suspicious of their motives. However, it is in their
>best
>> interests to run a fair and impartial contest. Has anyone heard
>positive
>> or negative experiences about contestants? What about people who
>have
>> won in the past? Or who have made a good showing?
>>
>> Thanks,
>>
>> Ed
>
>As I have pointed out in the past in other forums, and as Nassim Taleb
>points out somewhere on his web page, the kind of trading system you
>use
>to win contests and the kind of trading system you use to manage money
>are as different as night and day. The absolute worst thing you can do
>with money, aside from paying taxes, is give it to someone who has
>just
>won a trading contest to manage the same way he won the contest :-).
>
>Alexander Elder has a section on contests in "Trading for a Living";
>his
>view is perhaps even more negative than mine. I will say one good
>thing
>about *some* contests. *Some* of them are farily accurate simulations
>of
>real trading, more so than one typically gets when backtesting a
>system
>with, say, Tradestation. I don't know enough details to know whose are
>the most accurate; it's not really relevant because if you have a
>marketable trading system, you're not likely to win the contest and
>you're simply throwing your entry fee away.
>--
>znmeb@xxxxxxxxxxxx (M. Edward Borasky) http://www.teleport.com/~znmeb
>
>If God had meant carrots to be eaten cooked, He would have given
>rabbits
>fire.
>
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