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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (25635)	6/21/1999 4:45:00 PM
From: SE	Read Replies (2) \| Respond to of 44573

First Systems Contest: 1. Contest Duration: June 15, 1999 to July 30, 1999. 2. I will post an up-date nightly (although I say this, it might occasionally be every other day so don't get on me about that!) 3. Can only trade SPOOS…..we are trading for total points earned. Pricing will be based on the mini, Ticker symbol ES9U. The reason for this is mini quotes are free real time, SPOO quotes are not. 4. For each trade (round-turn) there will be deducted 1 full point per contract for commission and slippage. 5. Trading will not be restricted. However, you have to post to the thread your trades as they happen. 6. I cannot possibly monitor everyone. Who has time! So, this is going to be an honor system to some degree. You have to post your trades to the thread as indicated in point 5. Then nightly after the market closes, you must post your daily positions as follows: Long 2 at 1360. Stopped at 1350. Loss 20 points. Long 2 at 1352. Open position. Stop at 1348. Open order to go long two at 1360. 7. All orders are accepted. However, it is up to the individual participants to track their own orders and market flow. In other words, you put on a stop at 1310, I am not going to recheck to see if 1310 was actually hit. You must monitor your own trades. I will spot check from time to time as I trust other participants will as well. 8. You can only carry up to 10 contracts total. How you get to 10 is up to you, but no more than 10 contracts. 9. If at any time you are down a cumulative 300 points, you are out of the contest. This will eliminate the buy 10 and hold and will require you to manage your trades appropriately, just like in real life. 10. I understand there is a delay in entering orders from the time you decide to do something. If you decide to do a market trade and you can post it immediately, then the market price is what you get. However, if you have SI access trouble or your ISP goes down or whatever, your trade price will be the current spoo price when you are finally able to post. This will attempt to mimic the problems that can occur with trading on line! :) Again, I will not be checking everyone's time of post to the spoo price, but it is understood that the only trades that take place are those when you can post to SI. Also, I know SI's clock is not the same as the CME time and sales clock, so there is little way I could track this detail if I wanted to. Of course open limits and stops will take place at the price indicated on those orders regardless of whether you can post to SI at that time or not. 11. Trading will be done via RTH only. No Globex orders. That would only confuse things more. 12. Have Fun! Should I start a new thread for this or should we just do it on the systems thread? Questions and comments welcome. -Scott PS - Currently, Hal, SE, OJ, Nemer and Chip. Room for one more plus Tom should he decide to show!