Trading simulator. Help needed
Hey guys, I`m gonna be participating in Traders Trophy soon and it would be great if somebody could take a look at this demo and give me some advice, especially about market making - what bid/ask spread and prices should I set when I think that the asset will be going up/ going down to maximise my profits, but also to do it without predatory practises, as treating your clients well seems to be taken into account when assessing traders.
http://demo.traderstrophy.com/TTTSDemo/
Any advice would be greatly appreciated and if anybody cares I will post how it went for me. The competition is taking place this Thursday.
hey, how do you get in on this :P if you tell i will give you some examples
It
s on campus, so unless youre studying in Cornell, Georgetown University, Wharton, New York University or Columbia University, you cant get in on this. Im studying in the UK, by the way. Would be great if you could give me some examples.That is awesome.
two ways to play 1. market making - receive calls, make calls, quote bid/ask 2. prop - buy/sell at market ask/bid
how it's scored 1. pnl - who had highest returns 2. risk management - consistency of return, average market exp, sd of returns, drawdown 3. client service - how many calls did you answer, how many quotes were given and hit
how actual sim differs from demo you are actually trading with other participants live, so be quick to identify behaviors and remember their tags (usually a number) so you can make money continuously off the idiots this is easier at earlier rounds, when idiots haven't been weeded out yet
keep an eye on your net position, keep it near zero try to take/make as many calls as you can, match bids with asks of course, it's hard to make money just from spreads, so identify market trends and make bets you can change your spread to affect a change in caller behavior depending on your view, wider spread during volatility, tighter spread for quick response, higher spread to buy, lower spread to sell
first round is similar to demo (random huge jump in middle), but finals use a different sim where you make markets on multiple tickers and has built-in feedback where participants affect markets, so read participant sentiment and incoming calls
finally, IGNORE THE NEWS FEED
if you win globally, you will prob land an interview at optiver/imc/all options also, if you're interested in these types of sims, check out the mit trading competition
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