BarroMetrics Views: Trading Competitions
Once before I took part in a trading competition, the FXFutures.com. On that occasion, I played the role of position-sizing manager for A Wang. Trading in a competition is very different from trading for a living. The strategy is to gain maximum return (at least 50% and you’ll probably need around 200% to guarantee a win) in a short time.In addition, the trader has to strike a balance between not enough capital and too much because usually the winner is the one with the greatest percentage return on capital. So when Ana decided she needed an assist, I lent a hand.
Well, here I go again. This time, given I’ll be looking to start a new type of trading education in May, my aim is to see if I can garner some bragging rights.
GFT started a competition at the start of this week. It has a US$50K first prize, US$20K as a second prize and US$10k as a third prize. It also has a weekly lucky draw prize - this is not available to Singaporeans due to MAS rules. You need to have at least 10 round turns (i.e. 10 buys and 10 sells) per month (minimum size 10K). The winner is the one who has the greatest return on capital on April 30 2010.
GFT clients are automatically eligible for the competition. If you want to enter, you need to do so before March 31. Go to www.gftforex.com. You need a minimum starting capital of US$2,500.00. And by the way, Singaporeans are eligible.
And oh, in case you are wondering how Ana Wang and I did in the FXFutures comp, see the jpg.
Competition Results
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