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Ed,
I think you will find that it is only feasible to compete using longer term
systems due to the vast commissions that they charge.
If you are a day trader you could comfortably feed your family on the
"excess charges". If I recall correctly they were charging $54 rt plus all
the bits and pieces! If I strip out those bits and pieces from the "all in"
rate that my broker charges it comes down to about $9. 8 or 10 trades a day
and that difference adds up to a serious entrance fee, forget the $1000 to
take part!
I believe that you would also be restricted to calling orders in by phone,
which again limits day traders.
Simon
-----Original Message-----
From: Edwin J DeGuzman <edwindeguzman@xxxxxxxx>
To: realtraders@xxxxxxxxxxxxxx <realtraders@xxxxxxxxxxxxxx>
Date: 21 January 1999 03:15
Subject: Robbins Championship
>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
>
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