Let us have a free-for-all MT4 and MT5 demo competition for intra-hour/intra-day/Positional trading.
Trading can begin only after the trader posts the concept of his system on the Forex Factory thread set up by me. Traders are free to post their tools for analysis, trading and money management and has set up TE at FF.
They are free to form a team of two or three (optional) - an analyst, a trader and a risk controller - as if they are operating a fund for their own group.
All the winners will get a set of limited edition Holistiic Bead Bracelet with lucky charm, mailed to their address free of any postal charges, all at my cost.
If the team wins, then each member of the team (maximum three) will be entitled to receive the Bracelet.
The winners will be announced at the non-trading day of 27th January 2018 and the prizes will be dispatched on 1st February 2018.
The trades starting any time from 23 rd September 2017 for next 120 days will be counted for assessment.
Conditions:
At no time they can keep more than two positions open. There is no restriction on the turnover of the trades.Tthey can open positions say for 20 trades and close it as well, keeping only two positions open at any time.
Traders are free to use their freinds for analysing and managing money.
Use of EA for analysing, trading and managing money is welcome.
No restriction as to the number of indicators but ideally not more than 5 should be used.
Performance
Winner will have to keep posting the performance statistics through the use of FF Trading Explorer (free of cost MT4 trading journal analytics supplied to the forum members) every week for 4 months with minimum 500 pips per month (single lot of any size) consecutively for 4 months will be declared as winner. 500 pips per month and 2000 pips in 4 months.
Performance will be measured only in terms of pips and not the equity amount. Trading Explorer should be adjusted in a way to show PIPS performance.
No restriction on leverage or any brokerage to be used. Lot size initially chosen should remain same throughout the 120 day period.
If two people are working on the trading account - one as a trader and another as risk manager - both will be entitled to the prize if they perform as per the rules.
Why this competition?
The objective is to inject pragmatic professionalism (sans academic mumbo-jumbo) in use of trading systems and the management of money risks by simulating the trading floor environment.
A team of two or three friends can join hands to trade. One can analyse, another trades as per the trading plan and finally, third one keeps an eye on the drawdown and works for equity growth. Separation of the jobs will help all of them control their emotions. A purely practical exercise to help traders manage their psychology and emotions.
Can the experienced traders please share their views on
* the symbols to be traded,
*maximum stop loss for each symbol
*systematic control of the account remotely by using an MT4 or MT5 EA (like a master - slave server solution)
Any other ideas on how to extract best out of the competition to help the traders manage their emotions will be warmly welcomed and gratefully acknowledged with a token gift of a beads bracelet.
Trading can begin only after the trader posts the concept of his system on the Forex Factory thread set up by me. Traders are free to post their tools for analysis, trading and money management and has set up TE at FF.
They are free to form a team of two or three (optional) - an analyst, a trader and a risk controller - as if they are operating a fund for their own group.
All the winners will get a set of limited edition Holistiic Bead Bracelet with lucky charm, mailed to their address free of any postal charges, all at my cost.
If the team wins, then each member of the team (maximum three) will be entitled to receive the Bracelet.
The winners will be announced at the non-trading day of 27th January 2018 and the prizes will be dispatched on 1st February 2018.
The trades starting any time from 23 rd September 2017 for next 120 days will be counted for assessment.
Conditions:
At no time they can keep more than two positions open. There is no restriction on the turnover of the trades.Tthey can open positions say for 20 trades and close it as well, keeping only two positions open at any time.
Traders are free to use their freinds for analysing and managing money.
Use of EA for analysing, trading and managing money is welcome.
No restriction as to the number of indicators but ideally not more than 5 should be used.
Performance
Winner will have to keep posting the performance statistics through the use of FF Trading Explorer (free of cost MT4 trading journal analytics supplied to the forum members) every week for 4 months with minimum 500 pips per month (single lot of any size) consecutively for 4 months will be declared as winner. 500 pips per month and 2000 pips in 4 months.
Performance will be measured only in terms of pips and not the equity amount. Trading Explorer should be adjusted in a way to show PIPS performance.
No restriction on leverage or any brokerage to be used. Lot size initially chosen should remain same throughout the 120 day period.
If two people are working on the trading account - one as a trader and another as risk manager - both will be entitled to the prize if they perform as per the rules.
Why this competition?
The objective is to inject pragmatic professionalism (sans academic mumbo-jumbo) in use of trading systems and the management of money risks by simulating the trading floor environment.
A team of two or three friends can join hands to trade. One can analyse, another trades as per the trading plan and finally, third one keeps an eye on the drawdown and works for equity growth. Separation of the jobs will help all of them control their emotions. A purely practical exercise to help traders manage their psychology and emotions.
Can the experienced traders please share their views on
* the symbols to be traded,
*maximum stop loss for each symbol
*systematic control of the account remotely by using an MT4 or MT5 EA (like a master - slave server solution)
Any other ideas on how to extract best out of the competition to help the traders manage their emotions will be warmly welcomed and gratefully acknowledged with a token gift of a beads bracelet.
Practice makes a person perfect
