May be an interesting idea, but in my view TJ admins should take such initiative. As I dont think that an individual can run such contest with an hefty prize money.
True......I am busy person....I don't have team like zerodha....so everyone should help....:thumb:
Raj bhai, this initiative of yours could end up turning as a real distraction mainly for you.
it will be difficult to administer the scheme single handedly and to keep track of who predicted what and when.
I don't think that it needs a big organization to run such a scheme within this forum, but the proponent has to make initial efforts, then it will be on auto-pilot.
Define the scheme clearly, the members can pitch in the ideas. Let it take time, doesn't have to happen the next week or expiry. It is an evolving idea, isn't it ? You began by offering a 2lakh prize for zerodha like scheme, then changed it to weekly + expiry and 4 lakh prize. Then I mentioned bank nifty and you agreed to that. So, it is an evolving idea, collect ideas from everyone and crystallize the rules. All good things take time.
It's a good idea. Let's not have any jhatka kind of work here. If it is implemented after discussions, the members will have more confidence in it and will see greater participation. So, Raj, your sustained interest will be required for the initial stages.
The members, why not toss the idea around and put in your thoughts too.
My thoughts -
1) start with the weekly only, for two instruments - nifty and banknifty - both spot values.
2) let the contest be open to traderji members before August 2014.
3) Let the predictions end at 9pm on the second last session of the week, and then close the thread.
4) Work out a formula so that the earlier predictions get a wider range.
if it works out successfully for the weekly for some period, then we can move on to monthly/expiry predictions.