Wealth Lab Best Scripts Contests
Author: swuzy
Creation Date: 3/22/2009 6:10 PM
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swuzy

#1
Wealth Lab Best Scripts Contests

Very few people want to offer up a reasonably successfully script for nothing, especially after all the time and effort, hours, and frustration that went into writing and testing so many iterations of scripts.

I don't know how many members are on and regularly use the WL site. However, assuming a reasonably large number, why not consider a contributing member area, where people pay in X dollars a month, and participants can offer up scripts that are rated on periodic basis. So if there were 10,000 people participating and contributing, say $12 a year, $24 a year, or whatever is decided, then for -

$1 a month, we might start out with a weekly prize pot of $2,500 a week;
$2 a month, we might be able to add a $10,000 prize pot a month;
et cetera;
with the prize pot to be divided between various categories of winners.

Prize winners can be repeat winners, providing the winning script writer a repeating revenue line. Paying members / participants having access to competing submitted scripts promise not to share the script with others, and not to use the script for commercial, professional, or business purposes, and to use it only for trading of one's personal accounts (while this may be difficult to enforce, it at least imposes a moral, ethical obligation of honor).

In addition to a repeating, challenge as to top All Around Prize To Date, there could be multiple prizes for variously more focused scripts doing better on certain weighted factors, by the combination of several sortable weighted factors, by way of example, such as:

1. Total return,
2. Good (bull) times,
3. Bad (bear) times,
4. Trending stocks,
5. Non Trending stocks,
6. Number of trades,
7. Exposure to market,
8. Maximum drawdown,
9. Sharpe ratio,
10. Longs only,
11. Longs and shorts,
12. Limit orders,
13. Day trading,
14. Et cetera.

I am not one to organize or administer this. Just some idle thoughts.

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DrKoch

#2
A very similar idea is executed by a guy called Matthew Klein. His page is www.collective2.com. I participate there as a "vendor" of a handful of WL scripts which are traded fully automatically (search for Ruby, Topaz, Pearl).

After more than two years the overall results are disappointing. I have the impression that only few people are interested in "real trading", "working systems" etc.