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Carlos G.

Suggestions for BBT Challenge 2

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I 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. 

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I am also guilty of taking risky trades which I would have never done with my live account. I agree with Carlos' suggestions and add following to make challenge as close to reality as possible.

  • Limit position size to Max 25-33% of equity (Can DAS enforce?)
  • Limit Max Loss 2% of equity per trade (Auto stop), example: For $30,000 equity. Max loss $600 per trade
  • Limit Max Loss 10% of equity per day (Auto stop), example: For $30,000 equity. Max loss $3,000 per day. This way, PDT rule triggers after two consecutive days of losing @ Max Loss
  • Use IB Fixed rate commissions ($0.005 per share, min $1 per trade), No ECN fees.

These limits may seem too restrictive for game trading, but are very generous for real life trading.

Also, I think it will be good idea to allow people to post their trade log for challenge everyday so we can learn from each other's trade activity.

Edited by Ahmed
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I agree, adding DAS risk controls to the competition might keeps things more equal.

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Guest MichaelG

I think it's too detrimental to limit an individual's trading style through rules. But I have a suggestion. A daily point system. If 100 people sign up then after day 1 the number 1 person will have 100 points. the number 2 person will have 99 points and so forth.  Accounts reset each day. So if you are a consistent trader and you are #1 for all five days you will have a perfect score of 500.  Alternatively the score could just be your daily ranking and to be interpreted similarly to golf... lowest score wins.

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I like that daily point system idea, seems like a good way to rank traders without having to add a bunch of rules.

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Guest Pete

Andrew explained on his video today great but what if on Day 1, 2, 3 and 4 you get 10 points (40 points) for being top trader for 4 days and then what is the loss point for Day 5 before being disqualified, going below $25K or zero or?

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I already am a community member since November 2018 and I am setup with IB and Das with my own simulator and Live acct. That said can I still join the BBT Challenge 2? 

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a curved point system has some key advantages..it stretches the field and provides more incentive to work towards a higher absolute PnL. At the same time it penalizes busting your account b/c you are guaranteed a bottom spot...this is similar to how poker tournaments reward players...

e.g. if you have 10 players a linear system would assign points 1, 2, 3....10 for each place. A curved system e.g. 1, 2, 5, 10, 20, 50, 60, 75, 90, 100. A linear system rewards the average more than a curved system. The curved system incentivizes players to not get comfortable but also to avoid gambling. Obviously the shape of the curve can be modified according to what the commissioner thinks it should look like or wishes to achieve so it also offers more flexibility to reward or penalize certain kinds of strategies....

Just my 2c..

Edited by Marek

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On 4/12/2019 at 12:46 PM, Guest Pete said:

Andrew explained on his video today great but what if on Day 1, 2, 3 and 4 you get 10 points (40 points) for being top trader for 4 days and then what is the loss point for Day 5 before being disqualified, going below $25K or zero or?

You have to finish the week with positive equity. Blowing up on Day 5 (going to 0 or negative) will disqualify you.

 

On 4/12/2019 at 5:36 PM, Stevo said:

I already am a community member since November 2018 and I am setup with IB and Das with my own simulator and Live acct. That said can I still join the BBT Challenge 2? 

Yes, but you will need to sign up for the Challenge and use that account for trading.

 

On 4/12/2019 at 6:38 PM, Marek said:

a curved point system has some key advantages..it stretches the field and provides more incentive to work towards a higher absolute PnL. At the same time it penalizes busting your account b/c you are guaranteed a bottom spot...this is similar to how poker tournaments reward players...

e.g. if you have 10 players a linear system would assign points 1, 2, 3....10 for each place. A curved system e.g. 1, 2, 5, 10, 20, 50, 60, 75, 90, 100. A linear system rewards the average more than a curved system. The curved system incentivizes players to not get comfortable but also to avoid gambling. Obviously the shape of the curve can be modified according to what the commissioner thinks it should look like or wishes to achieve so it also offers more flexibility to reward or penalize certain kinds of strategies....

Just my 2c..

Great point, Marek. Even a bell curve which "weights" the dollar PnL would be a good compromise. Someone making $10k in one day should be rewarded more than another trader who leads the pack with $1000 on another day.

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Guest Andrii

Questions for DAS PRO:

 

  1. How divide pre-market time from market time on a chart?
  2. How separate chart and have different  ticker?
  3. How put new chart to anther  monitor?

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33 minutes ago, Guest Andrii said:

Questions for DAS PRO:

 

  1. How divide pre-market time from market time on a chart?
  2. How separate chart and have different  ticker?
  3. How put new chart to anther  monitor?

All of your answers are on the BBT DAS Trader Pro FAQ.

How divide pre-market time from market time on a chart?

How separate chart and have different  ticker?
>>> Add a new Montage and a new Chart then link them by dragging and dropping the Montage anchor onto the chart.
>>> Menu Trade > Montage

>>> Menu Quotes > Chart

How put new chart to anther  monitor?

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Guest Andrii

Hello. If I want have different chart (ticker)? How to do this? Or How to cancel anchor?

How put new chart to anther  monitor? >>> Menu Quotes > Chart ----- BUT chat stay on the same monitor. I have 2 monitors and I can't put the chart to second monitor? It's not separated from DAS PRO. 

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