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(binned per thread starter's request) Friendly Trading Competitio

  • #1
  • First Post: Edited Dec 27, 2018 5:23pm Sep 21, 2018 11:00am | Edited Dec 27, 2018 5:23pm
Thread is closed for now.

But I am still going to participate in another 5K starting balance and year long competition on twitter.

Details here: https://twitter.com/trader_umr/status/1076984721840603136

———————————————————————————————————————————————————

This thread is for traders who might want to participate in friendly competition to double a minimum of $,A$,C$,€,£1000 real account.

AIM

+100 percent growth and not more than -50% equity draw down on 1000+ real account.


RULES

  1. Minimum starting balance of 1000 units of a major currency (or equivalent) in a real account.
  2. The one who gains +100% in smallest numbers of days wins.
  3. Maximum drawdown limit of ~50%.
  4. Competition optionally ends 1 month after any participant finishes the 100% equity growth and comes first. This is to give other traders who might be close behind a chance to continue on and come 2nd, 3rd and so on.
  5. Trade Forex/Metals/Indices/Crypto. All methods/leverage/brokers/platforms allowed (which can be tracked by FF or Fxbook).

____________________________

ROUND#2

Start Date: 10 December, 2018
End Date: 28 december, 2018

Participants

  1. lolpie (https://www.forexfactory.com/lolpie)

     

    1. Starting Balance: USD941
    2. Trading Style: scalping the majors after the close of the NY session


  2. traderumr (@trader_umr (https://twitter.com/trader_umr))

    ____________________________

    1. Starting Balance: AUD1000
    2. Trading Style: Short term trader. (Will be aiming to increase my holding period in this round and am in the middle on incorporating orderflow info in to my strategies so that will be new as well). Very short term trading will be limited to news and data releases only.



Results

  1. lolpie (https://www.forexfactory.com/lolpie) touched -60% hence ending the competition.
  2. traderumr touched -49% and ended with -43%.


ROUND#1

Start Date: 1 October, 2018
End Date: 24 October, 2018

Participants

  1. MoneyZilla (@money_zilla)

    1. Starting Balance: $2000
    2. Trading Style: Trading false breakouts of gold.



  2. traderumr (@trader_umr (https://twitter.com/trader_umr))

    1. Starting Balance: A$1000
    2. Trading Style: Intra-day short term trader.


Results

  1. Moneyzilla got disqualified due to going over -50% drawdown limit.
  2. traderumr didn't had any stellar result either. Only was able to gain +6% in roughly three weeks (till Moneyzilla disqualification) and +20% till at the end of the first month.
  3. Only winners were brokers

A few more comments here (https://www.forexfactory.com/showthread.php?p=11615954#post11615954).

@trader_umr
  • #2
  • Sep 21, 2018 12:04pm Sep 21, 2018 12:04pm
Im inerested
  • #3
  • Sep 21, 2018 12:40pm Sep 21, 2018 12:40pm
Ill do $100 USD LIVE with an explorer let me know the details.
  • #4
  • Sep 21, 2018 1:38pm Sep 21, 2018 1:38pm
don't waste your money you may lose it just give it to me instead or even give me 100$ and you can double other 900 :"))))
  • #5
  • Sep 21, 2018 8:35pm Sep 21, 2018 8:35pm
Quoting Sandlevelly
Im inerested
Will you be able to fund 1000 account and share the explorer or myfxbook?

Quoting Pipking001
Ill do $100 USD LIVE with an explorer let me know the details.
Mate, I am afraid I want initial balance to be 1000 so that it appeals and provide sufficient kick to most traders.

Quoting JsCave
don't waste your money you may lose it just give it to me instead or even give me 100$ and you can double other 900 :"))))
Hahaha! Good one. But I would rather lose it while having some fun
@trader_umr
  • #6
  • Sep 21, 2018 11:35pm Sep 21, 2018 11:35pm
I will enter with ~2k.
Maadik Hugiis. IQ 69.
  • #7
  • Sep 22, 2018 12:08am Sep 22, 2018 12:08am
yes
interest
Thx
Find it The Best Entry Points
  • #8
  • Sep 22, 2018 2:28am Sep 22, 2018 2:28am
Quoting traderumr
Looking for traders who might want to participate in friendly competition to double $,A$,€,£1000 real account. Whoever do it in smallest numbers of days wins. Who is interested? We can start from 1 October, 2018. Trade Forex/Metals/Indices. All methods/leverage/brokers/platforms allowed. Reply to this thread or message me
just curious: what is the point?
and asking it in a respectful way.
yes, it can be done, and the smaller the account the easier it is.
but will this type of trading sustain?
would you rather try learn and practice something that gives you a better chance on the long run?
(there is a reason why driving lessons not starting with how to speed 200km/h on the road, or how to run a red light).

in the end, it will come to who has the least emotional attachment to his equity (more cash to lose and/or highest gambling inclination) and some luck for a day.
interestingly, to those, in the end, even is gained 100%, or 1000$, it wont have much meaning of that 1000$ anyway.
on the other hand, those who "only" manage to make 3% for the week will left with the feeling ( wrongfully really) that they are doing something wrong, as if being on track for approx 150% a year gain would be some sort of underdog performance. which of course it isnt.

anyway, best of luck, just some weekend thoughts, passing by.
attached yesterday's result. sure, looks like fun. i dont say it cant be done. it can.
thus asked, what do you think is the point to do so?

Attached Image (click to enlarge)
Click to Enlarge Name: ax.png Size: 68 KB
there is always, always another trade!!
  • #9
  • Sep 22, 2018 2:51am Sep 22, 2018 2:51am
Quoting traderumr
Whoever do it in smallest numbers of days wins.
This makes it mostly pointless. It's a gamble for those that don't care about possibly losing most of their stake with some risky trades on volatile pairs.
  • #10
  • Edited 3:48am Sep 22, 2018 3:22am | Edited 3:48am
Quoting MoneyZilla
I will enter with ~2k.
That's awesome mate. How about we keep it even 1000 unit of one of the major currencies so for people who might want to quickly compare and do the math in their head, it is easier.

Quoting profitfarmer
{quote} just curious: what is the point? and asking it in a ........
I have some serious problems with actually implementing my ideas outside of trading. Part of the solution I recently found was to go agile. Put out half-baked idea into action > get feedback > modify and improve. Otherwise I keep refining ideas forever in my head and never actually execute it ...

It was supposed to be pretty basic competition which could spice things up ... but feedback has been pretty bad so far.

You are right that it is definitely push towards gambling mentality ... but luckily there was never a prize other than just some motivation to trade and have a bit of fun. Also, if the participant loses, then that becomes a public track record as well. and this is pretty good motivation to not just punt away.

What do you think if we add a basic draw down filter ... something like 50%? (or 30%)? That coupled with the fact that participant list will be public will push people to not do something ridiculous? (Still want to keep rules as light as possible)

(awesome growth by the way, now that's the kind of ideal participant I am looking for. )
Quoting Nefser
{quote} This makes it mostly pointless. It's a gamble for those that don't care about possibly losing most of their stake with some risky trades on volatile pairs.
I guess similar answer to the last one. What about adding a draw down limit of 30 or 50% and mandatory public announcement of participant that he will be participating. Good enough motivation to be sensible. Eh?
@trader_umr
  • #11
  • Sep 22, 2018 3:47am Sep 22, 2018 3:47am
A max DD of 10-15% would be much more interesting(for me at least).
Necessity knows no law except to conquer
  • #12
  • Sep 22, 2018 4:01am Sep 22, 2018 4:01am
Quoting traderumr
{quote} That's awesome mate. How about we keep it even 1000 unit of one of the major currencies so for people who might want to quickly compare and do the math in their head, it is easier. {quote} I have some serious problems with actually implementing my ideas outside of trading. Part of the solution I recently found was to go agile. Put out half-baked idea into action > get feedback > modify and improve. Otherwise I keep refining ideas forever in my head and never actually execute it ... It was supposed to be pretty basic competition which could...
thanks for the reply.

a DD filter a good way to level fields.
i think bouncing off half-baked ideas is good, but wont mix well with the track record idea, inherently tend to do worst than one trying to achieve, thus called half-baked?

as for how much one's DD tolerance...i guess for 100% gain 30% dd is still sort of OK, on the other hand i am willing to cut on gains to achieve less drawdowns.
above, the 10-15% seem to be easier tolerable.

as for participation, i am behind on other projects, but always happy to keep an eye on any trading that is live, and not pure gambling mentality.
there is always, always another trade!!
  • #13
  • Sep 22, 2018 4:14am Sep 22, 2018 4:14am
Thanks for constructive feedback mate.

I agree 10-15% of draw-down is what a trader should target for his total trading capital.

As far as competition goes, I just don't want to eliminate or disqualify aggressive traders who might want to push it ... granted it is just 1000 units in absolute terms, and they can always stop if they are down 30, 40 or 50%. It is just to make things exciting without bankrupting anyone Also, if some one losses 50% it would be massive task to win it from there. That is like winning 2 100% growth competitions consecutively.

And by track record I definitely didn't meant a real track record which some one will take to a prop trading desk.
@trader_umr
  • #14
  • Edited 8:38am Sep 23, 2018 8:28am | Edited 8:38am
Quoting profitfarmer
{quote} just curious: what is the point? and asking it in a respectful way. yes, it can be done, and the smaller the account the easier it is. but will this type of trading sustain? would you rather try learn and practice something that gives you a better chance on the long run? (there is a reason why driving lessons not starting with how to speed 200km/h on the road, or how to run a red light). in the end, it will come to who has the least emotional attachment to his equity (more cash to lose and/or highest gambling inclination) and some luck for...
As i can see from your numbers you made 400 pips and got too 1000 dollars from a 200....In one month like the guy from 250 for a ferrari tread said he where trading this way only starting with 250 each day...You have now proven that that kind of strategie is possible even if i know you dont like that kind of trading at all....I belive you are one of the best traders here on the forum and when you can make 400 pips in a month i dont understand that you settle for 1% a week even trading of a 100000 account.......When you can doo 500% in a month"And it may only bee 2 weeks i cant say that of your screenshot"what is against you for doing it again ore maby half 250% in a month...Green pips=profit even with maximum lotsize....Of course the psycology may be a issue if you try and doo this of a 100000 account risking huge money and closing out profits faster too secure profits but also closing out loosers faster and that can also have impact on performence but 200-5000 dollars shouldn`t be that hard psycology...Sorry abaut my english...And dont shoot me if i got someting wrong with the numbers..LOL.Its just a tought...Have a nice Sunday and keep it green...
Attached Image
You win some you loose some do both with peace of mind
  • #15
  • Sep 23, 2018 10:32am Sep 23, 2018 10:32am
Quoting profitfarmer
{quote} you are looking at it the wrong way. really. and you arent alone. it is not what you can make only, but what you are risking to lose trying to do it!! will use some simplified example of math ( no interest, inflation, job security, possible ongoing return, daily living cost, only simplified salary and trading money). risk 200$, most would agree, is, if not pocket change, but not a whole much more than food for the week, if. say 2 days average western salary in a blue collar job ( 12$/h, 8 hour work a day; walmart, mcdonalds, and the likes)...
I am very curius abaut one ting there are treads here and on Elitetrader and a lot of them saying intraday trading dont work cant be proffiteble its a 50/50 game its all in moneymanagement and it cant be done of charts....Can you share your winrate and your profitfactor/r:r on your intraday/ scalps i know you do some scalping also....I am just curius abaut what is possible...Onlly if you want too...
You win some you loose some do both with peace of mind
  • #16
  • Sep 23, 2018 11:06am Sep 23, 2018 11:06am
interesting....if you doing it for fun. so what is the prize
  • #17
  • Sep 23, 2018 11:09am Sep 23, 2018 11:09am
Quoting profitfarmer
{quote} those numbers really meaningless. what matters is, trading, intraday trading as much as anything, can be profitable, and lucrative. as long as you keep your head firmly in the game, dont screw up like once in a while i do, lol, even despite having a great approach, you can see results. {image} but this thread isnt about this, and sorry if things went off some.
Yes me too get back too your challenge i have enough challenge with myself as too i should try and win a compettision in addition too my task of trying too be proffiteble everyday....That is a nice grafh Profitfarmer looks like you had one loosing week and one even week the rest in profit nicely done...I atleast belive its weeks showing nice grafh anyways...
You win some you loose some do both with peace of mind
  • #18
  • Sep 24, 2018 3:55am Sep 24, 2018 3:55am
Quoting mae4206
so what is the prize
"We men, don't desire mere metal or piece of paper"
"All we want is to get a chance to be worthy of Fame and Glory!"

Attached Image (click to enlarge)
Click to Enlarge Name: FameGlory-Black-copy1.jpg Size: 389 KB


Kidding aside, this is just a friendly competition. Along the way, we can share our trades and have a bit of banter.

Looking at your stats, you are an ideal candidate. Will you be interested?
@trader_umr
  • #19
  • Sep 24, 2018 4:00am Sep 24, 2018 4:00am
To Sandlevelly, MoneyZilla, vgyuszko and everyone who is interested.

Can you please fund an account with 1000 balance and share the TE?

Alternatively, if you want to use your old account, then withdraw funds in access of 1000.
@trader_umr
  • #20
  • Sep 25, 2018 8:23am Sep 25, 2018 8:23am
Still waiting for participants to contact me
@trader_umr
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