To: SE who wrote (29519 ) 8/5/1999 4:45:00 PM From: SE Read Replies (3) | Respond to of 44573
Systems II Contest: 1. Contest Duration: August 9, 1999 to September 17, 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. 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 / 2 of one full point per contract for commission and slippage. Reason for the switch is that we are going to large contract dollars for tracking purposes, so 1 full point is way too much. An argument can be made that 1 / 2 is too much, but it is easier to track, so that is what it is. 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: Carry over from yesterday: Long 2 at 1378, closed at 1385 - points 14 New Trades today: Long 2 at 1390.75 -- out at 1394.25 -- points 7 Long 2 at 1387 -- out at 1388.50 -- points 3 Short 2 at 1388 -- Still Open total new trades 3 total new contracts 6 total closed fees 6 total open fees 2 total points 24 The reason for the posting like this is that it makes it real easy to track in the worksheets. Please follow this format exactly. Book mark this post for reference. 7. Orders will all be considered MIT, unless a price is specified. 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. Everyone starts with $250,000 in their accounts. Margin per contract will be considered to be $25,000. Each night at the close in the worksheet I will give the up-dated sum for each participant and there will be a line indicating how many contracts that person can now trade. I am not going to police this so make sure you do not put on more than your total at any one time. Everyone starts out with the ability to do 10 contracts. 9. If at any time your account reaches less than $25,0000, you are out of the contest. 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 Plonk RTH only. No Globex orders. That would only confuse things more. Trading hours will be from 8:00 am EST to 4:15 pm EST. 12. Have Fun! Participants this go around are: SE, Hal, Peter, FredE, Juice, Doug, Bob, Plonkster, Nemer, Brian and John. Let's learn something and please let me win again. LOL! -Scott