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Where are you Spider61? Give us an update. Hopefully you are the winner and have been gagged from publically announcing the win or have you been gobbled up by the Cool Trader conspiracy?
Trading Matters Challenge
- Thread starter Wysiwyg
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"Winner Announcement:
For the name of the Grand Prize Winner and Weekly Winners, available after February 16, 2008, visit http://www.tradingmatterschallenge.com.au
A list of the Grand Prize Winner and Weekly Winners will be published on the Australian on February 17, 2008. "
Quit yer bitchin. You lost. Get over it.
For the name of the Grand Prize Winner and Weekly Winners, available after February 16, 2008, visit http://www.tradingmatterschallenge.com.au
A list of the Grand Prize Winner and Weekly Winners will be published on the Australian on February 17, 2008. "
Quit yer bitchin. You lost. Get over it.
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Somthin wrong with your link there is no winners there and today is the 18th.?????
listen up matie, just cause someone has a point of view & airs those views dont mean they are "bitchin" so why dont you "get over it" & you should check your links before you go shoot'n' your mouth off.
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TopBloke is obviously from CNBC and once again, their system is not working properly.
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Hi, I have just found this site today and have only had a chance to read a few of the older replies. All I know is, if it hasnt been brought up previously; is that the competition started to become unfair as of Friday 8th Feb 5pm when the organisers decided to implement new rules, and then penalised finalists retrospectively on trades done during Fri ( b/t 10am and 4pm).
I expressed my concerns to the organisers stating that :
A. It is totally unethical and unfair to penalise people for rules newly created and implemented on a retrospective basis. Its almost like driving down a road that's posted at 60km/hr for the last 50 yrs and one day they decide to change it to 40km/hr without telling anyone and then sending fines to all those who drove at 60km/hr in the last 6 months (thinking they were doing the right thing all along). Who one earth would go along with that and which court would uphold such a retrospective punishment.
B. Based on the new rules, they took $ away from my portfolio for profitable trades that did not comply with there new rules e.g sold within 30 mins for 1 cent move in share price. Ok, if they did this , what about refunding losses under the same circumstances on friday ?
C. Had i known of these new rules, i would have likely traded in a different way. i.e kept it for longer and able to keep my profit or even made more profit. E.g I did a trade where i bought CER.... i sold it within 30 mins, and only made approx $250 profit, when in fact that stock would have made me close to $2000 had i just kept it for 30-40 mins more, as it rallied 4-5 cents soon after i sold it. So i guess it's like double jeopardy. They took away my $200 profit, and i missed my chance to make $2000.
I have told them that we all take a risks when we enter a trade and if a 1 cent increase in share price lands us say $400, it would cost us $400 (before brokerage) if it goes the other direction.
Anyway, to keep things short, I stated my disgust in the way they implement rule changes, and all they had to say was "the new rules stands, they are the promoter, it's their prize, so they will give it away as they see fit." It sounds to me like they had already decided on whom they wanted to win in the competition, regardless of skills/performance. And their new rules basically makes it impossible for anyone else to catch up. For example, had i lead the 2nd participant in the competition by 20-30K, following the new rules implementation, i could basically stay with cash and it's highly unlikely that anyone could catch up.
What i suggested was that if they plan on doing these absurd rule changes half way through the competition, to restart the finals with the new rules, so we all start on 100K and all have equal chances, instead of letting certain leading players run away with the competition and sealing their wins with the new rules.
It was also interesting to see that with the new rules, it seemed to take $ away from different finalists by varying amounts, I couldnt understand why Alanmcg2 was the only one to benefit wheras the rest had big chunks of the portfolio chopped away. All i know is that i had $114K by the start of trading on friday in cash, and after some ups and downs on fridays, made a nett gain of 2K....to $116K. Now after their implementation, i was given a new portfolio of 112K. So, with hindsight, i was better off doing my day job on the Fri 8th Feb as i would have earnt an income and be better off at 114K instead of going backwards.
All this crap basically made me realise there was no fairness in this competition so i basically gave up in the 2nd week. I sold out of all stocks i still had from Friday's close (as they didnt comply with new rules i.e had to be worth above $1.50) , bought into a few and mostly left them. I checked once in a blue moon. This was why u saw my ranking drop significantly during the week ( as i was trading AED and the only way to benefit was to buy above $1.50 on Monday 11th Feb).
In light of everything that has happened, I will not be participating in any such promotions by CNBC/Etrade next year and would not recommend it to anyone either. It was a complete waste of time in my view.
I expressed my concerns to the organisers stating that :
A. It is totally unethical and unfair to penalise people for rules newly created and implemented on a retrospective basis. Its almost like driving down a road that's posted at 60km/hr for the last 50 yrs and one day they decide to change it to 40km/hr without telling anyone and then sending fines to all those who drove at 60km/hr in the last 6 months (thinking they were doing the right thing all along). Who one earth would go along with that and which court would uphold such a retrospective punishment.
B. Based on the new rules, they took $ away from my portfolio for profitable trades that did not comply with there new rules e.g sold within 30 mins for 1 cent move in share price. Ok, if they did this , what about refunding losses under the same circumstances on friday ?
C. Had i known of these new rules, i would have likely traded in a different way. i.e kept it for longer and able to keep my profit or even made more profit. E.g I did a trade where i bought CER.... i sold it within 30 mins, and only made approx $250 profit, when in fact that stock would have made me close to $2000 had i just kept it for 30-40 mins more, as it rallied 4-5 cents soon after i sold it. So i guess it's like double jeopardy. They took away my $200 profit, and i missed my chance to make $2000.
I have told them that we all take a risks when we enter a trade and if a 1 cent increase in share price lands us say $400, it would cost us $400 (before brokerage) if it goes the other direction.
Anyway, to keep things short, I stated my disgust in the way they implement rule changes, and all they had to say was "the new rules stands, they are the promoter, it's their prize, so they will give it away as they see fit." It sounds to me like they had already decided on whom they wanted to win in the competition, regardless of skills/performance. And their new rules basically makes it impossible for anyone else to catch up. For example, had i lead the 2nd participant in the competition by 20-30K, following the new rules implementation, i could basically stay with cash and it's highly unlikely that anyone could catch up.
What i suggested was that if they plan on doing these absurd rule changes half way through the competition, to restart the finals with the new rules, so we all start on 100K and all have equal chances, instead of letting certain leading players run away with the competition and sealing their wins with the new rules.
It was also interesting to see that with the new rules, it seemed to take $ away from different finalists by varying amounts, I couldnt understand why Alanmcg2 was the only one to benefit wheras the rest had big chunks of the portfolio chopped away. All i know is that i had $114K by the start of trading on friday in cash, and after some ups and downs on fridays, made a nett gain of 2K....to $116K. Now after their implementation, i was given a new portfolio of 112K. So, with hindsight, i was better off doing my day job on the Fri 8th Feb as i would have earnt an income and be better off at 114K instead of going backwards.
All this crap basically made me realise there was no fairness in this competition so i basically gave up in the 2nd week. I sold out of all stocks i still had from Friday's close (as they didnt comply with new rules i.e had to be worth above $1.50) , bought into a few and mostly left them. I checked once in a blue moon. This was why u saw my ranking drop significantly during the week ( as i was trading AED and the only way to benefit was to buy above $1.50 on Monday 11th Feb).
In light of everything that has happened, I will not be participating in any such promotions by CNBC/Etrade next year and would not recommend it to anyone either. It was a complete waste of time in my view.
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This is "show me the money" from the finals. I also have been watching this thread with intrest throughout this competition.
Like "Topned" I too believed that the competition became very unfair when they changed the rules on the 8th. I also expressed this point to them and indicated that they should restart the finals as there was only 5 days to go. Since they changed the rules and that they would not restart the comp, I decided that it was to unfair & left little chance for for people to catch the front runners (unless someone jumped on to a miracle stock performance like AED did in the last couple of days). So I stopped trading on the 11th and started using my time off from work more wisely.
In future if CNBC is to run this competition again then they need to firm-up the rules first and run the finals over a longer period (say 4 weeks) to smooth out lucky bumps in the market like AED. Perhaps they could email me back about this as they told me that they were constantly reviewing this Blog site.
Like "Topned" I too believed that the competition became very unfair when they changed the rules on the 8th. I also expressed this point to them and indicated that they should restart the finals as there was only 5 days to go. Since they changed the rules and that they would not restart the comp, I decided that it was to unfair & left little chance for for people to catch the front runners (unless someone jumped on to a miracle stock performance like AED did in the last couple of days). So I stopped trading on the 11th and started using my time off from work more wisely.
In future if CNBC is to run this competition again then they need to firm-up the rules first and run the finals over a longer period (say 4 weeks) to smooth out lucky bumps in the market like AED. Perhaps they could email me back about this as they told me that they were constantly reviewing this Blog site.
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I think this chap would like to read your message.
wilson.ma@olgr.nsw.gov.au.
Charity Investigations
Office of Liquor, Gaming and Racing
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LOTTERIES AND ART UNIONS ACT 1901 - SECT 17
Fraudulent conduct of lotteries and games of chance
17 Fraudulent conduct of lotteries and games of chance
Any person:
(a) who with intent to defraud conducts, or assists or participates in the conduct of, any lottery referred to in section 4, 4B or 4F, or any game of chance referred to in section 4A, 4B, 4C, 4D or 4E, not being a game partly of skill and partly of chance, in such a manner or on such conditions that all persons who have purchased tickets or shares in the lottery or have entered the game of chance have not an equal chance of winning a prize, or
(b) who fraudulently conducts, or assists or participates in the conduct of, a game of chance referred to in section 4A, 4B, 4C, 4D, 4E, 4F or 4G, being a game partly of skill and partly of chance,
shall be liable to a penalty not exceeding 50 penalty units.
Fraudulent conduct of lotteries and games of chance
17 Fraudulent conduct of lotteries and games of chance
Any person:
(a) who with intent to defraud conducts, or assists or participates in the conduct of, any lottery referred to in section 4, 4B or 4F, or any game of chance referred to in section 4A, 4B, 4C, 4D or 4E, not being a game partly of skill and partly of chance, in such a manner or on such conditions that all persons who have purchased tickets or shares in the lottery or have entered the game of chance have not an equal chance of winning a prize, or
(b) who fraudulently conducts, or assists or participates in the conduct of, a game of chance referred to in section 4A, 4B, 4C, 4D, 4E, 4F or 4G, being a game partly of skill and partly of chance,
shall be liable to a penalty not exceeding 50 penalty units.
Had a nice break from the computer over the weekend, so didn't get around to posting, but can advise you all that dash was the winner of the competition.
I believe he held AED overnight on Thursday, and traded it brilliantly on Friday as well to get over the line.
He was on Trading Matters this afternoon, and is obviously a very avid car enthusiast, so the prize couldn't go to a more worthy contestant.
Personally I'm glad it's all over, it's been quite a drain on the ol' grey matter trying to both trade the contest, and then look for often completely different types of trades in my "real" account, especially on the weak days where I was looking for shorting opportunities in the real market, but still having to find long prospects for the comp.
Although I didn't quite get the big one I have no regrets, there's always opportunities on the real market, and I don't think I'll ever tire of trading it, and hopefully learning from the messages it throws at you.
A
I believe he held AED overnight on Thursday, and traded it brilliantly on Friday as well to get over the line.
He was on Trading Matters this afternoon, and is obviously a very avid car enthusiast, so the prize couldn't go to a more worthy contestant.
Personally I'm glad it's all over, it's been quite a drain on the ol' grey matter trying to both trade the contest, and then look for often completely different types of trades in my "real" account, especially on the weak days where I was looking for shorting opportunities in the real market, but still having to find long prospects for the comp.
Although I didn't quite get the big one I have no regrets, there's always opportunities on the real market, and I don't think I'll ever tire of trading it, and hopefully learning from the messages it throws at you.
A
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Well that was a good outcome. Dash seems like a nice sort of bloke. Alan bowed out graciously and wasn't too attached to the outcome. Seems to be that if you weren't in the top 5 when the shock rule change and retrospective adjustment happened on Friday then you had little to no chance of catching up. Restarting the finals sounds like it was a good idea but it seems the arrogant organiser was not to keen on good ideas. I suspect that many of those who were not in the top 5 on Friday in the first week probably either gave up any hope of winning and bowed out there and then, took rediculous risks to try to bridge the gap or bought some "dead meat" stock and hope that they have a miraculour recovery. Anyway it is good that CNBC were monitoring this blog to see what the mood was and not do anything to foolish. It is pretty obvious they made a couple of postings in the name of "TopBloke". There was a bit of "attitude" in those posts which is a relection of the personality of the individual making all the decisions. Arrogant! Anyway it was good that a real person won the competition and not a trader who had an element of suspicion about his bonfides like Cool Trader. Until next year, if there is a next year.
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What a crock of cr@p, the whole thing was a scam. Strewth!!.
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Congrats to dash(David),also to Alan for being runner up.
Geez I feel like I put the mockers on Alan semi congratulating him on the eve of the final day.AED oil !!!
Maybe the organisers could keep an eye on the forthcoming ASX stock tipping competition,it appears to have sensible rules in place as far as real market manipulation and a limit on daily trading FROM THE START.
Hopefully these 10 or for some 12 weeks of daily trading will sharpen our trading skills and we can all be driving Maseratis soon enough.cheers Jock.
Geez I feel like I put the mockers on Alan semi congratulating him on the eve of the final day
.AED oil !!!Maybe the organisers could keep an eye on the forthcoming ASX stock tipping competition,it appears to have sensible rules in place as far as real market manipulation and a limit on daily trading FROM THE START.
Hopefully these 10 or for some 12 weeks of daily trading will sharpen our trading skills and we can all be driving Maseratis soon enough.
cheers Jock.Yes, congrats to all who made it into the finals and Dash for winning the first prize.
Here's the final rankings ....
FINAL STANDINGS
Ranking Trader's Name
1. Dash, Winner Maserati GranSport
2. Alanmcg2, Winner IBM ThinkPad
3. Cool Trader, Winner IBM ThinkPad
4. Hvnguyen, Winner IBM ThinkPad
5. Topned
6. Hugo 23
7. Airy Fairy
8. Jonathans #1
9. Banksia
10. Lazarus
11. Mikat
12. Leighton.nies
13. Simos
14. John S
15. Jrom
16. Annette Wilkins
17. Lucky9
18. Ron Brown
19. Maximus_Meridianus
20. Show me the money
Here's the final rankings ....
FINAL STANDINGS
Ranking Trader's Name
1. Dash, Winner Maserati GranSport
2. Alanmcg2, Winner IBM ThinkPad
3. Cool Trader, Winner IBM ThinkPad
4. Hvnguyen, Winner IBM ThinkPad
5. Topned
6. Hugo 23
7. Airy Fairy
8. Jonathans #1
9. Banksia
10. Lazarus
11. Mikat
12. Leighton.nies
13. Simos
14. John S
15. Jrom
16. Annette Wilkins
17. Lucky9
18. Ron Brown
19. Maximus_Meridianus
20. Show me the money
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Gee thats why the top4 were in the top 4 why didnt i see this before they didnt come onto this forum funny how we only heard from 5 and down, and also the complaints of all that were in the top 5 weekly but got dethroned cause they posed a threat to cnbc, well done cnbc, you have managed to put a gag order on a current affair too
oh yeh maybe because you own them!As for dash well he specifically said that he never held onto stock overnight, so AED
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How did CNBC manage to place a gag order on ACA, I don't think ACA is owned by GENERAL ELECTRIC INTERNATIONAL INC, are they.
You are right, my records show the last time Dash held stock over night was on 18th Dec 07, but I don't have the final records.
Going by his history he always cashed out.
You are right, my records show the last time Dash held stock over night was on 18th Dec 07, but I don't have the final records.
Going by his history he always cashed out.
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What were the dollar values of the top 20 players at the end.
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Aren't there Government rules and regulations they have to abide by? A couple of complaint to the relevant departments should get the investigation ball rolling. Maybe the 19 finalists can get a class action going against cnbc for manipulating the outcome of the competition.
If they ever decide to run the competition again they should make it more of a game of chance. You pick your stocks at the start of the comp, and whoevers portfolio grows the most over the period of the game wins. no selling, no buying. no bonus cash. no joining the game mid way through, no multiple accounts. simple.
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