goofed children --> Max

max-->wild

wild --> headless

headless-->horseman

horseman --> mustaine

mustaine --> all hands down ( I didnt find this word in the dictionary .. would you please tell me what does it mean).

all hands down-->winner

I think he meant to say mustang

winner---> loser

i believe his signature reveals the clue.. "shut up 'n play yer guitar"
it is a refrence to Dave Mustaine, vocalist for a band called Megadeth..

www.megadeth.com/whois/bio/dave.html

Kudos to Cain for the Sherlock Holmes impression.
(Elementary my dear watson..)

loser --> silver

silver-->better than bronze