What renowned simulated trading contest can I take
I am currently a Grade 12 student and an upcoming freshman of Kings Business School, KCL. I have been worried so much about my resume’s competitiveness and the future internship. As a result, I am willing to take any well-known trading contest to test my capabilities and fulfill my experience. I have been Top 10 national wide for the past high school trading contest, and looking forward to expand my view in the university contests. If anyone can recommend me your past contest, it will be much appreciated.
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https://www.topsteptrader.com/learn-how/</a">https://www.topsteptrader.com/learn-how/
be warned...read the rules carefully...if your P&L drops below their stop limit for even 1 tick, they automatically stop you out, and it costs $99 to re-instate your account (or you can just accept failure and close your account)
Why are you promoting this scam. Very obvious that the rules are unrealistic and designed to take money from people
https://smbcapital.lpages.co/smb-futures-proprietary-trading/</a">SMB Futures runs a similar program...and i know its not a scam because i know people who entered..passed..and are now trading SMB's capital..for real.
The hard part is creating a trading strategy and market knowledge that you can use to trade, and abide by the risk mgmt rules. This is the hard part, and require more talent and intellect than most people possess.
I’m actually thinking about doing this...
SMB... TD... Ronin... Optiver... Jane Street... I don’t give a fuck about brand name. I’ve been there, done that. People don’t realize trading is a very individualistic thing, as stated by Jennifer Fan. I actually have a strategy that I’ve optimized and actually makes good/consistent PnL and I’m thinking about going out on my own. The hedge fund that I was at opened my eyes on the world of trading. Before the hedge fund, I was very narrow minded and didn’t look at trading outside my perspective. I remember you saying Dalton opened your eyes on how to look at the market differently and the hedge fund did the same for me and believe it or not, my trading got so much better.
how are things going at the bank/treasury desk?
What was the strategy of the Hedge Fund? Why did you leave the HF?
Mostly stat arb. I left because the clearing firm shut us down then I got let go. We had huge amount of natural gas positions spreaded across the curve on swaps and futures. We have to wind down and roll our positions and there multiple ways to do this... either reverse through outright, calendars, swaps or trade at settlements. Obviously trading OTC using swaps is the quickest but the costliest in terms of execution. EFS was trading 17 ticks which means if you have to wind down 500 lots... that's 17 ticks times 10 dollars a tick times 500 contracts... that's almost 100 grand. We were paying 100 grand just on broker execution a day which is technically a PnL loss but that's the cost of business and the clearing firm didn't see it that way and got pissed. There is court battle between the fund and the clearing firm right now. Must be nice to be a risk free broker at ICAP or Tradition if you have a huge book of business.
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