Best Thread Trade2Win's 10 Year Anniversary - Day 5 (Anatomy of a Trade)

[DionysusToast]

I hope the Kindle brings you pleasure, Nic. Congratulations. This has been an interesting exercise. I would have liked to have seen Dash get the Kindle as his efforts were certainly up there in terms of collecting votes.

I would advise T2W not to run competitions like this in the future, it seems to me like it'd backfire. If you change the rules half way through & allow bogus voting, then it calls your integrity into question. You might want to lean on that integrity later on (a forum I know runs a group insurance plan for instance) and therefore you shouldn't p1ss it away on something like this. Could you imagine these shenanigans being allowed on ET or BMT?

I am not sore at coming second. I have no use for a Kindle. Most of my books are colouring books.... Just that it would have been nice to see who would have won on merit as opposed to what we actually saw happen. The results could well have been the same but it would have been nice to know how a comp would have been run with a little integrity on all sides.

I think if future comps are run where the entries aren't judged on merit & according to original rules, then you won't see much participation. It takes effort to compete and it is a wasted effort if it's just a beauty contest.

BTW - I will be posting more stuff like that in the future - I just need to get over that 'nerves' thing that struck me. This was quite a revelation.

 

[the hare]

I would advise T2W not to run competitions like this in the future, it seems to me like it'd backfire. If you change the rules half way through & allow bogus voting, then it calls your integrity into question.

You clearly dont understand, Tim has already explained, a TW2 competition is like discretionary trading, the rules are dynamic and changed in real time as the situation develops

The only rule is there are no rules.

On a serious note however this latest charade has indicated just how little interest there is in this kind of nonsense. Even I was surprised by the lack of participation, lets be honest, there where very few entries on a site boasting over 200 thousand members.

 

[tar]

You clearly dont understand, Tim has already explained, a TW2 competition is like discretionary trading, the rules are dynamic and changed in real time as the situation develops

The only rule is there are no rules.

On a serious note however this latest charade has indicated just how little interest there is in this kind of nonsense. Even I was surprised by the lack of participation, lets be honest, there where very few entries on a site boasting over 200 thousand members.

the 200k members number is over leveraged :cheesy:

 

[Mr. Charts]

Since there is some genuine disagreement about the voting, and in recognition of DT's work and the closeness of the result, I think it would be an act of generosity and justice if t2w also awarded DT a Kindle.
At least his kiddies could use it whilst their daddy is busy colouring in
Richard

 

[redart]

BTW - I will be posting more stuff like that in the future - I just need to get over that 'nerves' thing that struck me. This was quite a revelation.

Interesting, isn't it!?
Me and a few others have posted lots of realtime trades in the forex thread - I used to get more nervous posting a live trade than I was about losing my money, lol.
Good day on the ES yesterday for you? I managed one decent trade.
I look forward to more ES trades from you.

 

[DionysusToast]

lol - that looks like one of my charts redart !

 

[DashRiprock]

I had best day of the year so far today so I thought id show the graphs rolleyes for everyone.

smaller graph is from treasury bond future, bigger one is treasury note (thats what im trading). if you look at the red circles on each graph you see that just 5 mins after the data today the bond was just around yesterdays low and the note was around yesterdays high volume area

this is good for me because i like to see notes and bonds doing same thing

i said in my forst trade waaaaaay back in the thread that i like to watch these times for chop and new trends. and look at the notes (bigger graph) from then it was up and up and up all day until yesterdays high which was a bit of chop and a lot of volume traded there and then up and up and up some more until the last new daily high where have more chop and more volumes!

i put the lines is so everyone can see easier what i mean.

if you have nice skills in reading the tape and looking for big traders and big orders and skills in looking at what IS happenening (its going UP so BUY ONLY) and not what WAS happening you can make good profits with strategies like these. even enough to buy a kindle LOL

 

[bedsit]

if you have nice skills in reading the tape

I guess one can always learn. I've found a good video on how to read a tape:

 

[DashRiprock]

 

[montmorencyt2w]

Indeed, despair not.
If there's genuine interest from the members, it might not be necessary to wait that long. Personally, I think it would be great to have a comp' on a regular basis - say monthly - as do some of the Mods. Sharky is aware of our views but, the views that carry the most weight - are yours! (I don't mean you personally bedsit - but the views of the wider membership.) So, if y'all would like to see a regular comp', you need to say so. Loudly! Additionally, it would be good if you suggested some rules and how it could / should be run etc. Perhaps someone might care to start a new thread in the Feedback forum . . .
:whistling
Tim.

Perhaps the "prizes" could be more honorary than material? A bit more like Mastermind/University Challenge than "Who Wants to be a Millionaire", say.
The prize is the honour of taking part and doing as well as you possibly can and being judged by your peers, sort of thing.
(or am I being too "British"?). (I can imagine what Rothschild would make of that, except that he'd say "English").

I don't know, "Elevation to the T2W Hall of Fame" or something, or having a wing of T2W named after them. Perhaps in deference to our recent winner and worthy opponent, the next prize could be named "The Elite (virtual) Toastrack".

 

[timsk]

I would advise T2W not to run competitions like this in the future, it seems to me like it'd backfire. If you change the rules half way through & allow bogus voting, then it calls your integrity into question.

Hi DT,
Fear not, if there is a comp' in the future (and it's a big if), and if I have anything to do with it, the rules would be compiled following consultation with the members and then adhered to strictly. As most peeps here realise, this comp' was just a one-off; a bit of fun to mark the 10th anniversary of the site. No one should read anything into the rules of this comp' (and subsequent changes) - or the way it was administered. Hence my comment in post #409: 'Additionally, it would be good if you suggested some rules and how it could / should be run etc.'

Tim.

 

[montmorencyt2w]

t2w will get page views which is good for advertisers? also promotion, new sign ups, word of mouth etc

one trade is proof of nothing.

in this game the only success is money. so an objective compo would be based on pts won in a week or whatnot on a demo. to keep everyone interested there should also be a small prize for anyone who gets to 150pts, 200pt, 250pts etc a week on 1 market with top prize for top pipster. people could choose any market as long it had the sameish weekly atr [say within 70pts of a benchmark].

Good to have an objective measure, yes.

However, there should also be some recognition of doing the right thing even when the trade lost, which is unfortunately harder to judge objectively. Also recognition of clear, logical explanations for the trade, and of its management, that everyone could understand, and would be useful to a newbie.

So, either one prize judged on both of the above criteria, or two prizes, one objective, the other subjective.

As for live trades or not, I think that's a very personal thing. It is hardly fair to expect the average retail trader to perform "in public" at something even hardened pros have to work quite hard to succeed in. If someone wants to do it "live" fine, but not everyone should be forced to. Unless there is a separate section for live trades only.


Videos: It was good to have these; made a difference. Just like keeping a trading-log, I suspect it's a skill that perhaps everyone should develop, for self-improvement; hell, I might even have a go. So I think these should be encouraged.

 

[DashRiprock]

another comeptition on trading will just meen more BS in the internet and trading websites.

its bad for everyone!

 

[DionysusToast]

Hi DT,
Fear not, if there is a comp' in the future (and it's a big if), and if I have anything to do with it, the rules would be compiled following consultation with the members and then adhered to strictly. As most peeps here realise, this comp' was just a one-off; a bit of fun to mark the 10th anniversary of the site. No one should read anything into the rules of this comp' (and subsequent changes) - or the way it was administered. Hence my comment in post #409: 'Additionally, it would be good if you suggested some rules and how it could / should be run etc.'

Tim.

Tim - T2W allowed cheating on the comp. Credibility = 0. Bogus votes won the day. Who knows who would have won if you'd simply run a fair comp?

If you run a comp in the future that requires any sort of effort to create an entry, what would motivate people to submit an entry, considering that you'll allow cheating?

Or are you saying that we can trust T2W to run a fair competition now?

 

[wackypete2]

Tim - T2W allowed cheating on the comp. Credibility = 0. Bogus votes won the day. Who knows who would have won if you'd simply run a fair comp?

If you run a comp in the future that requires any sort of effort to create an entry, what would motivate people to submit an entry, considering that you'll allow cheating?

Or are you saying that we can trust T2W to run a fair competition now?

Oh my...allegations of cheating and unfair comps here on t2w? I disagree with you toastie!

Pete,
It's all above board, I watched the vitual tombola spinning and spitting out the winners myself - made me quite dizzy it did!
Tim.

Peter,
I'll look you (or anyone else for that matter) in the virtual eye and tell you hand on heart that the main prize was won by ***** fair and square.

It's just a fun contest, so no proof is required. Sure, it's possible someone could cheat, but we'll do our best to weed out the cheaters like we've done so on previous days.

and finally...

cue the lulz merchants

Peter