It appears to be a common strategy among the current front runners to have multiple contest accounts. I assume that is within the contest rules, but one who "wins" on their best account out of 10 contest accounts is not nearly the winner they will claim to be.
It does look like some people are doing that (for the record, I am not - I have only one account in this contest). With enough accounts, it definitely would be easier to do well with at least one account.
If the person is trading different systems, styles, etc. in the different accounts, I'm not sure if it cheapens the results. They did still have a strategy that did better than anyone else in the world, in that particular year.
Your comment is very good though, and people should keep this in mind when looking at investing in a Hedge Fund, CTA (Commodity Trading Advisor), buying on off the shelf system, following a subscription or signal service, etc: Are you, Mr. Vendor, showing me the one good system you have, and burying the other 10 failed attempts?
Also, if someone can be in the top 5 for many consecutive years with the same strategy (or their only strategy), or have multiple wins in one year (with different strategies), that would REALLY impress me.
I am unimpressed with anyone who follow this rule "If at first you don't succeed, destroy all evidence that you tried" (Thanks @MarcHrisko from Twitter for that one!)
It appears to be a common strategy among the current front runners to have multiple contest accounts. I assume that is within the contest rules, but one who "wins" on their best account out of 10 contest accounts is not nearly the winner they will claim to be.
ReplyDeleteThanks for the comment.
ReplyDeleteIt does look like some people are doing that (for the record, I am not - I have only one account in this contest). With enough accounts, it definitely would be easier to do well with at least one account.
If the person is trading different systems, styles, etc. in the different accounts, I'm not sure if it cheapens the results. They did still have a strategy that did better than anyone else in the world, in that particular year.
Your comment is very good though, and people should keep this in mind when looking at investing in a Hedge Fund, CTA (Commodity Trading Advisor), buying on off the shelf system, following a subscription or signal service, etc: Are you, Mr. Vendor, showing me the one good system you have, and burying the other 10 failed attempts?
Also, if someone can be in the top 5 for many consecutive years with the same strategy (or their only strategy), or have multiple wins in one year (with different strategies), that would REALLY impress me.
ReplyDeleteI am unimpressed with anyone who follow this rule "If at first you don't succeed, destroy all evidence that you tried" (Thanks @MarcHrisko from Twitter for that one!)