[thalestrader]

I respectfully ask that before you post to this thread, that you read this inaugural post in its entirety.

Moderated Message:

Apple iPad Awarded to the Grand Champion of "The Race" courtesy of Traders Lab and Thalestrader: http://www.traderslaboratory.com/for...html#post95569

Hi Folks,

Welcome to The Race.

This is a friendly competition where TL members who elect to participate will attempt to trade a small account, with a starting equity of no more than $3000.00, to one million dollars in profit. This will include open and closed trade equity as well as cashed out funds. The participants shall record those efforts here by regularly posting daily account statements/equity runs in this thread.

It is admittedly an extremely difficult task. None of us has need to hear from anyone just how difficult it is. I would ask that spectators refrain from the usual warnings, cautions, insults, etc. and so on to which threads such as this typically give rise. Rest assured that we each know that the risk of ruin is very real, possibly lurking just 'round the corner from our very next trade. So what? Trading involves risks. If you can't afford to lose, do not trade. We each are free to choose what we wish to do with our own risk capital. If you feel absolutely compelled to ridicule, chastise, or otherwise criticize with enmity The Race and its participants, you are free to start your own thread in which to do so, or visit the TL live chat and voice your opinion there.

None of us, as far as I know, have any commercial interest in offering trading advice, education, signal services, managed money, etc. and so on. Should evidence develop that any of the participants do have such designs, and that he or she is attempting to use The Race to further his or her own commercial interests, I will ask the moderators to close this thread, and the The Race will immediately be abandoned. This is intended to be a fun, friendly competition. The only profit to be gained by any of the participants is to come from his or her trading efforts.

The winner, should one of us actually achieve the objective of trading to a million in profits over the course of the contest, will be required to do the following in order officially to be declared the Winner and close this thread: 1) The trader must have the account and profits verified to the satisfaction of third party who has been deemed mutually acceptable to a majority of the participants. If TL's founder, James, is willing, I would prefer him to be the third party; and 2) the winner must use a portion of the winnings to provide transportation, hotel, and dinners for 3-5 days for each of the participants at a venue of the winner's choosing.

In order to participate, you must first post a daily statement/equity run showing that there are currently no open positions in your account, and that the total equity is less than $3000. This is obviously a contest for the long haul. While it officially opens as of 12:00 EDT AM April, 27, 2010, anyone may join the race at anytime after that date, so long as the trader declares his or her intention by posting a screen capture of a daily statement/equity run that comports with the aforementioned requirements.

I believe that takes care of the preliminaries. Below you will find the ground rules as they exist as they exist as of the commencement of The Race. Any changes, amendments, etc. must be presented in this thread, and agreed to by each of the participants.



The Race - The Ground Rules

Objective: To be the first participant to trade a small account to one million dollars USD in profits, including closed and open trade equity as well as cashed out funds, or at least to have a load of fun trying!

Ground Rules:

A. Accounting

1) Starting balance of trading account is not to exceed $3000.

a. Deposits are allowed at any time, either to replenish a blown account, or to allow additional margin, so long as the deposit does not result in an account balance greater than $3000.

b. No deposits are allowed if equity exceeds $3000.

2) Withdrawals are allowed. Notice of a withdrawal request to your broker should be posted to The Race thread on the day you make the withdrawal request.

3) Participants must post daily screen shots of his or her daily equity run by 9:30 AM EDT, with two exceptions: a. the equity run has not been received, or b. there has been no change in positions or equity since the last previously reported closing equity. If the equity run has not been received from your broker by 9:30 AM, it should be posted as soon as possible after it is received. Again, this is only required when there has been a change to the previously reported closing equity.

4) I will post a weekly summary of each participant's performance both for the week and from the beginning of each trader's individual participation in The Race.

a. This summary will be in terms of nominal dollars profit and loss. This is not a percent return race, but an accumulated profit race.

b. This summary will include both closed trade equity, open trade equity, and cashed out profits, if any.

5) The Race is open to new participants at any time. The only requirement for participation is a live, real money trading account of $3000 or less starting equity, and a willingness to post a daily equity run. A trade blotter is not sufficient. Your post must show instrument(s) traded, entry price, exit price, commissions, fees, etc. as well as closed equity and open trade equity.

B. Trading

1) Real time calls are not necessary - just post a copy of the daily equity runs with your name and account numbers painted out.

2)The Race is open to all trading styles - day traders, swing traders, scalpers, position traders.

3) Any freely traded liquid instrument is allowed - futures, spot forex, stocks, bonds, options, cfd's, etc. and so on. The Race can accommodate the $25 microlot account holder, a $1000 futures account holder, as well as a $3000 cash or margin stock account holder.

4) As this is open to all trading styles, there is no requirement that a trader place a trade every day, every week, or even every month for that matter. The only requirement is that a daily equity run be posted whenever there has been a change in equity from the previously reported closing equity.

5) No trader is required or expected to divulge anything more of his or her trading system, method, approach, etc. than what he or she wishes to divulge. The trader can tell all, or tell nothing.

6) If it is known that you will be unable to trade for a period of time, then that should be posted in The Race thread with an expected return date. The Race doesn't stop just because one or more participants is unable to trade for a period of time. The notice is requested simply because it prevents anyone of us from dropping out of The Race without giving the other the courtesy of a public notice. There is no requirement that one trades everyday.

7) The initial period of The Race will be twenty weeks starting with the week of 4/26/2010. At the end of 20 weeks, the remaining participants, should any still be standing, will decide whether or not they wish to extend The Race.

_________________________ _________________________ ____________

I think that should be sufficient to get us started.

Good luck to all who choose to participate, and for those who choose to participate as spectators, I hope you enjoy the show.

And please folks, let us be respectful of all - Racers and Spectators alike!

Most of all, Have Fun - because in the end folks, if it isn't fun, it isn't worth doing!

Best Wishes,

Thaes

[enochbenjamin]

Unlike Thales and Sick I have never taken a sandbox to 1mil. I've made a few pennies before but never amassed a cool million in 20 weeks. So..... I will be an active observer, sincerely hoping multiple people accomplish this feat.

Good trading to all!

-e.b.

[thalestrader]

Originally Posted by enochbenjamin »

Unlike Thales and Sick I have never taken a sandbox to 1mil.

I never claimed to have done this myself, and I didn't mean to give that impression . This will be my first attempt to a run a small stake up that large quickly.

I too would like to see a bunch of folks accomplish this here.

Best Wishes,

Thales

[sicktrader]

Well done Thales. Certainly put a lot of thought and effort into this Race.

I am in. I have $941.31 in my account, and will forward you all necessary documents in the AM. I am usually posting under the influence at night, so I promised myself that I won't post after 8:00 PM, since my posts after this time have fed many of trolls.

I normally might have a trade around 2:00 am, but since I am so close to margin I'll wait till around 9:00.

Since it is after my self imposed posting cutoff, I would rather not go into any methods or such, as it takes me a while to type this reply. I will be there in the AM, perhaps a trade in the bag or perhaps not.

I wish all who participate the best of luck. You will need it if your money management skills aren't at their best.

Again, Good luck to all, and hope to see you in Vegas.

[sicktrader]

Could anyone please help and provide detailed instructions on how to add an attachment here, I can save my screen shots, but what is the code to attach them? Would rather print them out, wipe off my name and account number with a marker, and fax them to a pdf. Please let me know.

[sicktrader]

Originally Posted by enochbenjamin »

Unlike Thales and Sick I have never taken a sandbox to 1mil. I've made a few pennies before but never amassed a cool million in 20 weeks.

I have done it, a few times, and expect to do it here at TL along with others. Must say that at this point the IRS has pretty much all of that (taken by force), but more to be made. Would be nice to have a few more traders in this. Anyway, see you in the AM.

[brownsfan019]

Originally Posted by sicktrader »

Could anyone please help and provide detailed instructions on how to add an attachment here, I can save my screen shots, but what is the code to attach them? Would rather print them out, wipe off my name and account number with a marker, and fax them to a pdf. Please let me know.

http://www.traderslaboratory.com/for...perly-805.html

[thalestrader]

I'm in ...



That is the sand box as it sits this morning.

Best Wishes,

Thales