Chancery Lane Traders to Hedge funds
Has anyone see the Challenge? Will it look good on my CV if I win their 'intern' challenge?
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LOL get 55 heads out of 100 coin flips and you get a job? Completely disregarding PnL? Legit as fuck
It's 2:1 reward to risk per trade. That's not that easy. Like 100 limit and 50 stop, has to hit to count.
They take 100 pounds for every amateur college kid that wants to try their luck at the FX slot machine. That's smart business but doesn't sound like great trading.
Well think of it like this -- you could easily replicate that payoff yourself -- 100 pounds in like IG, just compound your winnings until you hit 20k. given you can actually do that, you still have to be willing to size that aggressively, which it doesn't sound like you are doing in the Challenge: it's just wins/losses.
When I've talked to better traders, they will have a 1:2 to 1:3 risk reward, maybe 45% - 55% win rate. Of course, they don't always stick to their stops/limits, but 1:2 at 55% sounds close to about right. How many people are 'better traders' though? is probably the bigger question and hence why a lot of people will do this but will be much closer to pure randomness.
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