Indian Trading League / SAMCO

[futures]

the %ages are calculated on the amount deposited with broker ...

the competition seemingly doesn't differentiate between a 1 lot trader and a trader with a bigger a/c size ...

Exactly !! The only solution is to have a decent account size as minimum..say 10 lacs. Automatically, the participation would go down by 90% and it makes sense to be part of the competition as outliers will be normalized. But, SAMCO wanted to get a piece of the market(afterall, this is marketing strategy) and they would never do something like what i am proposing...its like 'u cant have the cake and eat it too"

All these weekly winners might never surface in monthly (forget about qtrly or yearly) list IMO...so, all is fair Nirav

But having said all these things, if someone want to participate to compare themselves with other traders, its their choice These kind of competitions almost always bring more attention to trading and in-turn, more people will participate in stock markets !!

 

[motu1985]

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and the kind folks who reason that they are entering this contest to see where they stand, id say why would you want to compare with such a/cs ... most of the winners will be having outlier trades which will make a mockery of the % rate of returns ... 70-100-200 % ...

comparison with such figures will be only detrimental to ones trading in the long run ...

Comparisons being detrimental is true if there is no context. Everything has to be weighed in the context of the situation (in this case, the situation being that small capital size is ideal for competitive purposes). Yes, there may be outlier trades giving high returns to the winners of the competition and if one tries to alter their trading style only for this competition, then it would be detrimental. But if one trades normally as they have been according to pre-defined strategy, it presents an opportunity to finally put to rest the debate as to what trading style offers superior returns (high risk low capital trades vs decent capital money managed trades) in a pre-defined period of time (10 months in this case).

Now, clearly this comparison can be drawn by not being part of the league as the winning percentages are being released daily. But rest assured, even those who claim that this league is useless eagerly wish to know what is achievable given any style of trading in a given period of time. Any competition is just that, a test of skills under a set of rules, under certain conditions that will only exist at that time. It does not reflect whether you are a good trader or bad trader based on what returns you achieve in the league. But it is the experience and learning which should be the focus, and that is what competitions do, they make you discover yourself and your limitations.

 

[deba72]

If one can participate in this competition by depositing 25000/- why would someone deposit 10 lacs or any big amount.. it would be completely foolish on his/her part to do that. SAMCO does not stand to lose either as their brokerage revenue is not dependent on the value of the trade. So it's win -win for both the client and the broker.

Now regarding the trading skill .. seasoned and successful traders depend on their systems to generate consistent returns irrespective of market conditions..and a vital attribute of any such system would be scalability .. If its truly a good system it should work equally well for any value of the trade.. and if it does not its not a good system at all.. But yes..emotions would be a big part in high value trade.. but that's the challenge we all face..to remove emotions from our trading decisions...

 

[monkeybusiness]

Any body has actually participated from this thread in competion ?

 

[Verde]

All are participating, none will own up

 

[timepass]

All are participating, none will own up

Any body has actually participated from this thread in competion ?

Not me, not yet. They are not yet offering bracket orders.

 

[nirav_j]

The 1Cr + 6.3 Cr fund management opportunity has really got people in a tizzy ... Folks just not admitting it ..

Hows comparing where you stand w.r.t competition winners going to be of any help, when the competition winners will most likely be doing some crazy option trades to generate stupendous % return ...

comparison with such wild figures to assess own trading performance is a recipe for disaster ... almost like comparing with a porno male lead ... if you compare, you loose peace of mind and in extreme cases, mojo too..

Also, i checked the rules, anyone can join anytime of the year and just make sure his % return is higher than the rest... so all the faithfuls who trade, go bust, replenish for the whole year can be left behind by a guy making a single crazy expiry day trade and blowing everyone elses "hard work"

It'll be interesting to see how this thread develops .. :thumb:

 

[sumosanammain]

The 1Cr + 6.3 Cr fund management opportunity has really got people in a tizzy ... Folks just not admitting it ..

Hows comparing where you stand w.r.t competition winners going to be of any help, when the competition winners will most likely be doing some crazy option trades to generate stupendous % return ...

comparison with such wild figures to assess own trading performance is a recipe for disaster ... almost like comparing with a porno male lead ... if you compare, you loose peace of mind and in extreme cases, mojo too..

Also, i checked the rules, anyone can join anytime of the year and just make sure his % return is higher than the rest... so all the faithfuls who trade, go bust, replenish for the whole year can be left behind by a guy making a single crazy expiry day trade and blowing everyone elses "hard work"

It'll be interesting to see how this thread develops .. :thumb:

Naughty boy.... now we all know what you do on weekends

 

[motu1985]

:thumb:

Yes, but it'd be difficult for an individual trader to beat 1000% in 6 months on his own. Dont you think?

The current leader stands at 564% in just 18 trading sessions. This was precisely the point i was trying to make with the brokerage needing to be absolutely sure before they implemented the neutral strategy you spoke of.

Anyways, the high returns got me thinking as to what the possible trades could have been. So, i've done some crude analysis to determine whether it's been skill or luck. For generalization, I've taken nifty options to be the instrument that has been traded. Given that all the downfall has started since the RBI policy was announced on June 2nd, let's assume that someone anticipated the outcome and was short nifty at the end of trading session on June 1st (bought puts). Here's how his returns would be today for various strikes:

Strike Price Price June 1st EOD Price June 11th EOD %returns
8400 127 443 248%
8300 90 352 291%
8200 63 266 322%
8100 44 190 332%
8000 30 130 333%
7900 20 85 325%

So, i feel even though 564% may seem outrageous, given what's happened with the market in general, it's modest. Having said that, it's still 1.5 times more than what could have been achieved through just being in a single trade, so its fair to assume that some skill is there. :clapping:

 

[cinderblock]

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