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Suggestions for BBT Challenge 2
Carlos G. posted a topic in BBT Trader's ChallengeI just saw the results video and noticed quite a few people with some massive gains. Congrats to those traders, but I have a few observations. Some people appear to have traded risky low floats to get to the top spot with little regard for protecting their account. The results reminded me of how I traded in the sim. I had some big days as well, but that didn't necessarily carry over when I started trading live. There's no way that I would use 100% of my BP on a low float stock for the slim chance of hitting it big. How many could really stomach a -$10k swing? Correct me if I'm wrong, but I don't think the PDT rule was active for traders who dipped below $25k in the challenge (at least not the entire contest). I think there needs to be more risk involved. I suggest making the challenge as real as possible. Start with $30k ($5k cushion), and if you drop below $25k, then you're out (PDT rule) unless you have an open position that brings you back above $25k. I know what it's like to drop below $25k in a real account and I definitely wasn't up for taking huge risks when I was sitting on the edge of being locked out again. I know it's hard for the sim to capture how to feels to trade a live account, but we should strive to make the contest as accurate as possible. Your future live account will thank you for it.