Robbins world cup trading contest issues

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backspace

unread,
Nov 14, 2010, 3:03:44 AM11/14/10
to futures trading
http://www.stocktwits.com is probably the only means of bringing in
transparency if a trader can't provide an audited tax return.
http://www.worldcupadvisor.com/worldcupchampionships/default_nwcc2.aspx
is hosting the pfgbest futures trading contest. One needs minimum
$15000 to participate. The scam is that they allow a trader to have
any number of accounts of $15000. This is not fair to a trader who
only has $15000 to enter and can only have one account thus.

When talking about trader’s skill, we must see their bank statement or
tax audit.
Take for example the Robbins world cup trading contest that Unger
seems to be winning year after year. He opens 100 live real futures
accounts for $15000 each and we are only informed about the 1 that
made a profit. He makes his money by charging $200 per trade to his
subscribers , which covers his losses on his 99 losing futures
accounts.

The NFA should investigate Robbins trading and make a ruling that the
results must be the weighted average of all the futures accounts by a
person entered into the contest. We want to know about Unger's losing
futures accounts, the ones he isn't telling us about.

backspace

unread,
Jan 7, 2011, 6:55:08 PM1/7/11
to futures trading


On Nov 14 2010, 10:03 am, backspace <stephan...@gmail.com> wrote:
> http://www.stocktwits.comis probably the only means of bringing in
> transparency if a trader can't provide an audited tax return.http://www.worldcupadvisor.com/worldcupchampionships/default_nwcc2.aspx
> is hosting the pfgbest futures trading contest. One needs minimum
> $15000 to participate. The scam is that they allow a trader to have
> any number of accounts of $15000. This is not fair to a trader who
> only has $15000 to enter and can only have one account thus.

$15000 is needed to enter the contest but hundreds of additional
accounts can be opened with less that $15000? We don't know, robbins
isn't clarifying their position. Unger took three positions out of
five in the 2010 contest. All of his accounts should have been
averaged for a single net return on equity employed .
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