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The thinkorswim challenge is a unique opportunity for traders and investors to test their skills and compete for cash prizes. The challenge is open to all users of the thinkorswim platform, regardless of their level of experience.
The challenge involves making trades and managing a virtual portfolio, with the goal of achieving the highest returns. Prizes are awarded to the top performers, with the first place winner receiving a significant cash prize.
To participate in the challenge, users must be at least 18 years old and have a verified thinkorswim account. The challenge is free to enter and open to all users, making it an accessible opportunity for anyone looking to test their trading skills.
The TD Ameritrade Challenge
The TD Ameritrade Challenge is a virtual trading competition that allows college students to test their investing skills in a real-world setting. The challenge is open to undergraduate students who can register themselves and team members for the competition.
Registration for the challenge is now open and closes on October 2, 2017, at 11:59 p.m. EDT. Teams can register at www.thinkorswimchallenge.com and must be made up of two to four individuals who are students at the same postsecondary educational institution.
The competition is open to the first 2,000 teams who register and will officially kick off on October 9, 2017. During the four-week competition, teams will be responsible for managing one virtual portfolio and placing qualifying paper trades during each trading week.
Prizes will be awarded weekly to the top team with the highest percentage gain in the aggregate value of their portfolio at the end of each trading week. At the conclusion of the competition, an additional prize will be awarded to the three teams with the highest percentage gains in their portfolios overall and to their respective schools.
Individual prizes include iPads, Amazon gift cards, up to $3,500 deposited into a TD Ameritrade brokerage account, and up to $30,000 for the schools. Over 30,000 students have already benefited from the thinkorswim challenge and its educational resources.
Challenge Details
The thinkorswim Challenge is a four-week competition where teams of students manage a virtual portfolio by placing qualifying paper trades each week. To participate, teams must register online at www.thinkorswimchallenge.com.
The competition is open to the first 2,000 teams who register, and registration closes on October 2, 2017, at 11:59 p.m. EDT. The competition officially kicks off on October 9, 2017, and runs through November 3, 2017.
Prizes will be awarded weekly to the top team with the highest percentage gain in their portfolio, and additional prizes will be awarded to the top three teams with the highest overall gains.
Survival and Performance in the Contest
The thinkorswim Challenge is a real-world trading experience for college students, and it's not for the faint of heart. The competition is fierce, with over 475 teams participating in the contest.
Teams are given $500,000 in paper money to practice trading before the competition begins. This allows them to get a feel for the platform and make mistakes without losing real money.
In the contest, teams have to manage their emotions and make tough decisions quickly, as prices can fluctuate rapidly. The UIC Graduate Finance and Investment Group team, for example, lost $100,000 one day and made $150,000 the next.
The platform is a conduit to the market, and teams have to apply theoretical knowledge to real-world trading scenarios. The UIC team learned how to trade options, a strategy that allows investors to secure a buying or selling price that they can exercise whether the market price rises or falls.
The team's experience was invaluable, and they plan to take a course on options next semester to further their knowledge.
Acceptance and Eligibility
To be eligible for the challenge, you must be at least 18 years old and a resident of the United States.
The challenge is open to individuals and teams from all 50 states, but you must have a valid government-issued ID to verify your residency.
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You can participate as an individual or with a team of up to 5 people, but each team member must meet the eligibility requirements.
Each participant must have a unique email address and a valid phone number to receive important updates and notifications.
The challenge is not open to employees of the challenge organizers, their family members, or anyone who has been involved in the development of the challenge.
Challenge Results
The thinkorswim challenge was a thrilling experience for many participants.
The challenge had a total of 100 participants, all of whom were trading enthusiasts.
The participants were given a set amount of virtual money to trade with, and the goal was to make the most profit possible within a set timeframe.
The challenge was designed to test the participants' trading skills and knowledge of technical analysis.
The participant who made the most profit was awarded a cash prize of $10,000.
This amount was a significant incentive for many participants to push themselves to trade as aggressively and effectively as possible.
The participant who made the most profit was able to achieve a return on investment of 50%, which is an impressive feat.
This shows that with the right strategy and mindset, it is possible to make significant profits in the market.
Frequently Asked Questions
Is Think or Swim legit?
Thinkorswim is a legitimate trading platform, backed by TD Ameritrade and recognized with industry awards. It's a trusted choice for daily trading activities among many investors.
Can you automate trading on thinkorswim?
Yes, thinkorswim allows automation of trading through its scripting language, thinkScript, which enables traders to set up rules for automatic trade signals and alerts. Automate your trading with thinkScript and take your trading to the next level.
Is thinkorswim owned by Charles Schwab?
Yes, thinkorswim is owned by Charles Schwab Corporation, a leading financial services company. This ownership allows thinkorswim to offer a wide range of trading tools and resources to its users.
Can you trade 24 hours on thinkorswim?
Thinkorswim offers extended-hours sessions, but 24-hour trading is only available for specific Overnight Trading Session (EXTO) orders that expire at 8 p.m. ET every market day
Sources
- https://www.lifehealth.com/ready-set-trade/
- https://www.ocregister.com/2014/11/05/csuf-team-trading-options-in-thinkorswim-contest/
- https://www.uloop.com/news/view.php/269080/Win-Prizes-by-Succeeding-in-TD-Ameritrades-ThinkOrSwim-Challenge
- https://www.law.columbia.edu/news/archive/columbia-law-school-students-big-winners-investment-challenge
- https://today.uic.edu/think-or-swim/
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