I would like to provide another suggestion for the level system.
As was posted here the within-month competition makes managers to make very risky bets as a way to outdo other managers. If you look anything about order statistics (check your mathematical statistics book) if there is a sufficient number of managers that make risky bets, no slow-and-steady kind of manager would be able to level up.
What I suggest is that the leveling could be multi-criteria (like a Google page rank):
- As posted by other members of the community, the level system could consider the amount of their own money a manager invests. Having skin in the game is always helpful to diminish the incentive to face too much risk.
- The system could of course consider the performance within the month (as it is right now).
- But the system could also consider long term performance. For instance, x% weight given to current month performance plus (100-x)% weight given to the last three months (or even last year or all-time) performance.
Trying to create a "level system" is near impossible using simple metrics or competitions. Every level system we have thought of fixes some problems but then creates just as may problems. It would take a computer learning machine and TONS of data to even have a chance at creating a fair leveling system that everyone would be happy with. I think the best alternative is as follows.
Instead of creating a 7 level system that has parameters. Just have a couple of steps of probationary time that every manager has to step through.
Step one - You can only trade your own funds for 2 months. This will give 2 months of a track record and they will begin to prove themselves. After step one every manager goes to step two
Step Two - Allow up to 10K USD to be invested into the managers and they trade for another 2 months. After step two every manger then goes to step three
Step Three- You open the flood gates and allow anyone to invest in the managers. Investors will then have 4 months of data to make the decisions for themselves. They will have number of trades, drawdown, all the ratios, trade history, everything and they can make an informed decision for themselves.
I don't think genesis vision should try and tell us who good and bad managers are. Just give us a platform that is transparent and has all the data readily available and allow us to make the informed decision for ourselves. This will stop managers from taking extreme risk trying to be the "top ten percent" and will reward all different types of risk. It will stop managers from opening 10 different programs just to try and get more money managed. It will also allow for quicker groth in the platform.
I think this is the best solution to the problem at hand. Hope that this hlps and know we are all grateful for all you guys do
The leveling system has turned into the weak point of genesis vision. I’ve had a ton of family and friends who get excited about this platform but then can never get into a manager. Right now it takes on average 6 months to get into one. Three months til their current program ends and have more availability then another three months til you get accepted. Something needs to be done. Here are some thoughts on the matter With everything I’m about to say, I understand they did their best. And honestly I don’t have a perfect solution. But I think the old leveling system they proposed of a certain % gain consistently, with sharpe ratio takes into account is better than this.
They made the whole platform and leveling system a competition. It shouldn’t be a competition. Every trader should be able to trade their style. If they wanna be safe and have minimal draw down then let them. Right now if someone wants to trade that way they can’t level up and it hurts them to be safe because they will never return the top ten % even tho they are very consistent and good.
Also managers are limited by number of managers too. For example @bitkolik is waiting for 10 managers so he can compete with them to level up. And if one of the ten stops their program or stops, he continues to have to wait for more to compete with when clearly he is good.
And one other major problem, if the top 10% get to level up. Eventually only crappy managers will be competing with crappy managers in the Lowe levels and they will get to level up. Over the course of a couple years everyone’s theretically could be level 5-7. If the bench mark is everyone else in your level there is no guarantee that good managers level up. Only that the top 10% level up. Big difference.
Could you please confirm whether the option to view the entire program history of a particular manager will be added?
On a similar note, I see that there are two managers that have attained level 5 yet have executed no trades (in the program indicated). Does this mean they have reached this level through trades on a previous program? (and that these traders have since closed these programs)
In my wallet where is shows my activity/transactions - I was sure enough that my request was waiting to be invested but I wasn't 100% wasn't sure so thought Id' ask on the Telegram group since the guys there are really helpful they confirmed I was in fact waiting for my 90.0561 GVT to be accepted by the Program Manager. My thought on this is that this doesn't make whats happening very clear to new users of the program and to make this perhaps a bit clearer, could suggest a re-wording of this statement to word in more like the following - Waiting to invest in program or committed for investment to Program?
Thank you for all of the great work!
The risks between someone trading at 1:100 leverage vs 1:10 are huge. This should be visible to all investors as a warning to the type of swings expected on trades
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