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Ed,
I won the U.S. Trading Championship in Futures for 1992 and in percentage
even beat Marty Schwartz, but Mr. Schwartz made more money. If you take 5 or
$10,000 and although for those that is much money, in contests with that small
of an amount, if you lose it, you can try again and pay another entry fee.
When you are in contests, one concentrates on percentages, if you start losing
money you may become more risky, if you make money and you are the end of the
contest, you may not take signals in fear of losing the contest. It is very
different from managing your own money for the sake of making money or
managing other peoples' monies.
It all comes down to your intentions of entering the contest, if it is
for bragging rights -- that's great, if you win you will have to work for
Robbins under their wing. Managing other peoples' monies can be a stressful
situation even if you are making money for them, we all know how losses can
take away our profits rather quickly.
Perhaps some of the CTA's in this group can help if one wants to work toward
that direction.
Jim Burke
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