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

  • #121
  • Oct 22, 2018 8:11am Oct 22, 2018 8:11am
22 Oct, 2018
Grade: B+
Result: +3.6%
Comments:
Finally getting there. Mental state has become a lot stable. I am quite happy with how I am able to make more sensible decisions. Took 3 long weeks to show some improvement, but now that I am finally showing some, aim is to continue on and not make stupid mistakes or regress.
Pretty regular day, otherwise. Market is in a very cozy mode, absolutely fantastic for day traders. But I feel tired and there is no point in trying to push it.
Signing off for the day and will try to built upon good momentum this rest of the week.
@trader_umr
  • #122
  • Oct 23, 2018 2:37am Oct 23, 2018 2:37am
Shit!

@MoneyZilla

Looks like you crossed the draw down limit of 50%.

Attached Image


@trader_umr
  • #123
  • Oct 23, 2018 7:37am Oct 23, 2018 7:37am
23 Oct, 2018
Grade: B
Result: +0.3%
Comments: Only took a few trades today, mainly due to lack of time.

_________________________________________

ROUND # 1 has ended

My partner in this great crime (competition) MoneyZilla seems to have fallen in to hard time.
Currently competition account being over 50% down due to out of ordinary bullish Gold moves.
He has not been around lately and hopefully will be able to recover and trade his way out of it.
But this effectively does mean that competition is over as one of the condition as shared in the first post was not going over 50% drawdown.

I am looking forward to his return to FF which hopefully would be soon and we can perhaps enter in to round 2 if he still desires.

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My end of trading competition result has not been stellar either.
Due to tremendous over-trading + bad-trading, I am still at just +6%.
Even though lately I have shown massive improvement in composure and have high 8 consecutive winning days, a lot of work need to be done in order to fully develop skill of public trading.

Looks like only real winner of this competition is my broker

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@trader_umr
  • #124
  • Oct 23, 2018 7:41am Oct 23, 2018 7:41am
INVITATION FOR ROUND # 2

I am looking to start Round # 2 as soon as possible.

Again, the rules remain the same: +100 percent growth and not more than -50% equity draw down on 1000+ real account.

If you are interested, please reply to this thread or message me.
@trader_umr
  • #125
  • Oct 23, 2018 6:12pm Oct 23, 2018 6:12pm
Quoting traderumr
INVITATION FOR ROUND # 2 I am looking to start Round # 2 as soon as possible. Again, the rules remain the same: +100 percent growth and not more than -50% equity draw down on 1000+ real account. If you are interested, please reply to this thread or message me.

Fund me an account and I’m ready for round 2
  • #126
  • Oct 23, 2018 7:34pm Oct 23, 2018 7:34pm
Quoting emicovi
{quote} Fund me an account and I’m ready for round 2
I am afraid competition is self funded.
@trader_umr
  • #127
  • Oct 24, 2018 1:50am Oct 24, 2018 1:50am
Just an announcement, I will be removing money from competition account to other private account and will fund it or perhaps a ctrader account this time once again when we get a few people ready for the Round # 2 of the competition
@trader_umr
  • #128
  • Oct 24, 2018 4:41am Oct 24, 2018 4:41am
How about a return over max drawdown competition instead?
  • #129
  • Oct 24, 2018 4:51am Oct 24, 2018 4:51am
It's not really important if you are making profit but I'm curious how much comission you paid in total for 60$ profit?
Necessity knows no law except to conquer
  • #130
  • Oct 24, 2018 4:59am Oct 24, 2018 4:59am
Quoting carddard
How about a return over max drawdown competition instead?
Not much different that we have here. A draw down limit with a target AND multiple rounds.

Quoting 3ndlessHope
It's not really important if you are making profit but I'm curious how much comission you paid in total for 60$ profit?
5 times the profit. Totally my fault. Normally for me, on good days, it doesn't exceed 20%.
@trader_umr
  • #131
  • Oct 24, 2018 5:01am Oct 24, 2018 5:01am
Quoting traderumr
{quote} Not much different that we have here. A draw down limit with a target AND multiple rounds. {quote} 5 times the profit. Totally my fault. Normally for me, on good days, it doesn't exceed 20%.
Thank you for the fast reply. Good days do not count, only total comission paid. Good luck on your journey
Necessity knows no law except to conquer
  • #132
  • Oct 24, 2018 5:07am Oct 24, 2018 5:07am
Quoting traderumr
{quote} Not much different that we have here. A draw down limit with a target AND multiple rounds. {quote} 5 times the profit. Totally my fault. Normally for me, on good days, it doesn't exceed 20%.
They are very different metrics, a DD cap and ROMAD. Nonetheless, all the best.
  • #133
  • Oct 25, 2018 12:19pm Oct 25, 2018 12:19pm
Count me in on this % competition with my $500 account.
  • #134
  • Oct 25, 2018 8:22pm Oct 25, 2018 8:22pm
Quoting spotrate
Count me in on this % competition with my $500 account.
Awesome. Can you fund with account to reach balance of 1000?
@trader_umr
  • #135
  • Oct 26, 2018 8:06am Oct 26, 2018 8:06am
Just look at it.

This is the difference between trading in public vs private.

A solid Grade-A private trading day (+3.66%).

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@trader_umr
  • #136
  • Oct 26, 2018 8:08am Oct 26, 2018 8:08am
Still waiting for traders who are interested in competition.
Please reply in this thread if you are interested.
@trader_umr
  • #137
  • Oct 26, 2018 9:25am Oct 26, 2018 9:25am
Sorry traderumr, I won't be able to do that. If it wasn't for credit card cash advance, I wouldn't even have this $500 to put into it. The deposited amount actually doesn't matter because a true measure of profitability would be in terms of a percentage profit, not in terms of a dollar amount profit.
  • #138
  • Oct 26, 2018 11:18am Oct 26, 2018 11:18am
Someone else should host a contest with no restrictions and only one rule:
Highest % gain wins after one month of trading.
  • #139
  • Oct 26, 2018 3:41pm Oct 26, 2018 3:41pm
Traderumr seems intelligent enough to understand that 1000 Australian Dollars is not the same as 1000 USD. AUDUSD = 0.70900. Fair is a starting balance where everyone is comfortable with.
  • #140
  • Oct 26, 2018 6:14pm Oct 26, 2018 6:14pm
Quoting spotrate
Sorry traderumr, I won't be able to do that. If it wasn't for credit card cash advance, I wouldn't even have this $500 to put into it. The deposited amount actually doesn't matter because a true measure of profitability would be in terms of a percentage profit, not in terms of a dollar amount profit.
Mate, please don't take credit card loans to trade. That can be financial suicide. It is better to maw lawns for a month and save 500 first than to take a loan and that from a credit card company.

Quoting OutThere
Someone else should host a contest with no restrictions and only one rule: Highest % gain wins after one month of trading.
That is a great idea. I am all for it. Would you be happy to take lead on this and make a post and try to conduct the competition yourself?

Quoting GU-Night
Traderumr seems intelligent enough to understand that 1000 Australian Dollars is not the same as 1000 USD. AUDUSD = 0.70900. Fair is a starting balance where everyone is comfortable with.
Yep, as I have said 1000 AUD is roughly half of GBP. So 1000 unit of a major currency is already a very wide range.

But most will agree there has to be SOME requirement of minimum balance. After all 1000 USD is not same as 1000 USDC.

What we are discussing is just where to draw the line and for now it is been drawn at 1000 units of a major currency like USD/AUD/GBP/EUR etc.
@trader_umr
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