2010 Interactive Brokers Collegiate Trading Olympiad cancelled

[Andy Nguyen]

I've been notified by Mr. Andrew Wilkinson that IB has cancelled the Interactive Brokers Collegiate Trading Olympiad for 2010 and instead introduced something called IB Student Trading Lab
http://www.interactivebrokers.com/en/general/education/IBStudentTradingLab.php?ib_entity=llc

You can get a paper account through your instructor/program and learn about their API. I guess there is no 100K prize this year.

You hear it first here at Quantnet.

 

[Eugene Krel]

This is sad news indeed.

 

[Uncle Max]

Yeah, it was great exercise for students with a potential to make 100K.

Probably IB didn't get outcome they've expected from this Olympiad.

Or maybe they afraid that Madoff will enroll to a university from jail and participate in the Olympiad taking down first prize by trading from paper-account (he is an expert doing that).

 

[alain]

It would be interesting to find out the reason for canceling the contest. Does it mean the event is done for good? or, does IB expect to sponsor the event again in the future?

 

[dstefan]

One of the primary reasons for having the Olympiad was to select candidates for full-time jobs at IB and TH. That was not necessarily the case.

 

[Andy Nguyen]

Students can have access for a longer period (2 semesters), they can reset their 1M account anytime. This gives more time to learn the process properly without the pressure in the context of a trading contest.
I think from IB point of view, this gets their API platform to a wider audience (highschool students now included). There is no downside to them since there is little or no capital involved.

 

[Uncle Max]

The timing of Olympiad wasn't good either. It usually started right after the final exams, so those who studied hard couldn't spend much time to put a decent strategy in place and those who didn't study hard were no longer students to qualify.

 

[John Jurcevic]

Bloody hell! Damn the bastards...

I'm not happy. Definitely not happy.

 

[Andy Nguyen]

On the Baruch Alumni Magazine current issue (page 5), there is an article titled "Baruch Quants take on the world and WON". It has a picture of Vladimir who placed 7th on the 2008 Olympiad.
Time to hang that article up for collection value.
Baruch Magazine

 

[ramnik]

I've been notified by Mr. Andrew Wilkinson that IB has cancelled the Interactive Brokers Collegiate Trading Olympiad for 2010 and instead introduced something called IB Student Trading Lab
http://www.interactivebrokers.com/en/general/education/IBStudentTradingLab.php?ib_entity=llc

Well wondering if this is for the better or the worse. It would mean much much more time for testing, tweaking and experimentation while kills the potential of a 1,000$. Guess I'm good.

You hear it first here at Quantnet.

I love these catchy phrases.

 

[Andy Nguyen]

I hope to get my paper account soon. I have some open source projects that people who done the Olympiad can contribute. That may benefit the Quantnet community as a whole.

 

[WilliamY]

Learn How To Trade

How can I get better at trading in this environment? Since trading can be taught/learnt to a certain extent, what are some fundamental strategies/rules of engagement?

Please share some relevant references. Thanks.

 

[alain]

Three strategies:

1) Buy low, sell high
2) Buy high, sell higher
3) Sell low, buy lower

 

[John Jurcevic]

Three strategies:

1) Buy low, sell high
2) Buy high, sell higher
3) Sell low, buy lower

Great advice Alain! I use the first method for my own trading. You also left out:

4) Sell high, buy low

 

[alain]

You are right John!!! But I didn't want to give my secret

 

[ramnik]

I hope to get my paper account soon. I have some open source projects that people who done the Olympiad can contribute. That may benefit the Quantnet community as a whole.

Aha some nice nice things you got swirling in your head. I'm hopeful to get mine soon too. \me waits to get my hands dirty with some open source coding soon.