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  • #141
  • Oct 26, 2018 5:55pm Oct 26, 2018 5:55pm
I've mastered a particular strategy I like, it's automated, and I don't want to wait and mow lawns for a month first. It's time to pull the trigger and go for it
  • #142
  • Oct 26, 2018 6:20pm Oct 26, 2018 6:20pm
[quote=traderumr;11630615]. {quote} 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? {quote}

nope. There is not much leading to do anyway. Been there done that 10-12 yrs ago different forum. Everyone wanted a prize, there was no TE and we had to appoint a referee with everyone's investor pass to go see who won. Lol. I don't remember if we even got the thing off the ground.

It's just that I see a lot of ppl want to participate (participate, not start a competition) apparently despite the lack of a prize but they hit the heavy rules and exceptions.

When you first started this competition idea, it felt like traders were going to trip over each other making doubles in no time and the rules rolled in trying to make sure the true doublers get the air prize but it turned out more about halfing equity or hanging onto to it with dear life. So I don't see the reason behind being so exclusive and frankly, your explanations about why % equity alone doesn't cut it are not convincing.

I do realize it's your thread and anyone can just as easily start their own competition thread and go wild with it. It's just that us traders are weighed down with regulations from regulatory agencies, governments, brokers etc. and then a "fun" competition gets regulated to the point that the guys jumping up n down saying me, me, me...get turned away. IDK, point is, you give humans a chance to make rules and rules they do make.

Actually the worst outcome has been losing MoneyZilla. The guy has a great sense of humor. MoneyZilla, come back pleas.
  • #143
  • Edited 10:21pm Oct 26, 2018 8:21pm | Edited 10:21pm
Achieving YES 200 times makes a dream come true!
  • #144
  • Oct 26, 2018 9:58pm Oct 26, 2018 9:58pm
Taking loans to trade is very short sighted.
Best of luck to those who want to try it.
I personally think no one should do it.
If some one suggests that taking loans to trade is ok, he doesn't have any interest in your well being or have no idea about down side in trading.

We can already borrow in forms of leverage.
Some one who doesn't even have enough base capital to use leverage to increase returns doesn't have any money to trade.
@trader_umr
  • #145
  • Edited 10:17pm Oct 26, 2018 10:00pm | Edited 10:17pm
Does this Detailed Statement qualified ? ...
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  • #146
  • Oct 26, 2018 10:02pm Oct 26, 2018 10:02pm
Quoting OutThere
Quoting traderumr
. {quote} 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? {quote} nope. There is not much leading to do anyway. Been there done that 10-12 yrs ago different forum. Everyone wanted a prize, there was no TE and we had to appoint a referee with everyone's investor pass to go see who won. Lol. I don't remember if we even got the thing off the ground. It's just that I see a lot of ppl want to participate (participate, not start a competition)
...
Well! We have basically just two rules. Minimum balance and max draw down limit.

But thanks for the feedback on minimum balance. Perhaps we can two leagues ... and further reduce the minimum balance limit. Some thing like less than 500 USD league and more than 500 USD league.

Let me have a think over this.
@trader_umr
  • #147
  • Oct 26, 2018 10:04pm Oct 26, 2018 10:04pm
Quoting spotrate
Okay, give it a rest with the advice about loans already. Take a look at my TE, does it look like I don't know what I'm doing? I've already outperformed you and you've been trading longer. Never take advice from someone who isn't doing better than you. Equivalently, never give advice to someone who is doing better than you.
Nah! Don't take loans. Period. Start with the capital you have. If you are that good. It will increase organically.
@trader_umr
  • #148
  • Oct 26, 2018 10:07pm Oct 26, 2018 10:07pm
Quoting AriRESE
Does this Detailed Statement qualified ? ... {image}
That's good growth chart.
But participating in this competition requires that you announce first and make trading fully public.
If you are interested in that, then let me know.
@trader_umr
  • #149
  • Oct 26, 2018 10:53pm Oct 26, 2018 10:53pm
Quoting traderumr
{quote} That's good growth chart. But participating in this competition requires that you announce first and make trading fully public. If you are interested in that, then let me know.
I just known this Thread, then I took the Screenshot from my 2 months Trading Account ... Thank you for your Invitation, but I will be trading without participating to the Competition ...
  • #150
  • Edited 11:26pm Oct 26, 2018 11:07pm | Edited 11:26pm
Quoting traderumr
{quote} Nah! Don't take loans. Period. Start with the capital you have. If you are that good. It will increase organically.
Great idea this thread!
Real trade, real money, real challange! No bulshit!
A little exclusivist by rules, but that's alright

Just my opinion, money or pips doesn't really count:
- pips doesn't count - you can make +20 pips a day, which could mean 2K or $2 as well;
- money doesn't count - you can make $20 a week, out of $50 account (means +40%) ...or $200 out of 10K account (means only +2%)

Who's ya daddy? The one with $20 a week or the one with $200 a week ?!

The point is, the money or pips doesn't really count in a competition. It's only the profit rate. (%)
What is the percentage that an account can grow in any particular given period of time it's the only relevant thing about a strategy/trader.

Wait a minute, ...OMG, are you wearing my shoes??? : ))) LOLZ
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Member
  • #151
  • Oct 26, 2018 11:18pm Oct 26, 2018 11:18pm
I think having Forex competitions has become an issue like: Man vs. Machine.

Probably subject of it's own thread but it's in-between-competitions recess period. It's like a half time.

I'm not sure if I'm allowed to post this link but if you read between the lines, they are discussing EA's vs. Manual trading!

https://www.chess.com/forum/view/general/can-the-top-players-beat-the-best-computers-anymore

I like both but I trade manual for fun. Can't beat the calm, cold, calculated and systematic EA's.


So, does it matter that some trade EA's and some trade manual?

Of course there is that other distinction: less than 500 USD league and more than 500 USD league.

Does that matter? EA's care about leagues? I bet there are EA's that munch more than a PAC-MAN on steroid. The owner is the trader. When the EA trades, the owner takes credit. Is man the machine? I wonder if EA's can be put into leagues. EA's that can handle less than 500 and those that can handle more than 500. Oh wait, it's EA owners that have $500 to start up their EA's with and The other group have 1K to start them with. That's just a frivolous distinction in the age of the Godzilla EA's and the tiny men who made them.
  • #152
  • Oct 26, 2018 11:27pm Oct 26, 2018 11:27pm
Quoting TudorIoan
{quote} Great idea this thread! Real trade, real money, real challange! No bulshit! A little exclusivist by rules, but that's alright Just my opinion, money or pips doesn't really count: - you can make +20 pips a day, which could mean 2K or $2 as well; - you can make $20 a week, out of $50 account (means +40%) ...or $200 out of 10K account (means only +2%) Who's ya daddy? The one with $20 a week or the one with $200 a week ?! The point is, the money or pips doesn't really count in a competition. It's only the profit rate. (%)...

I would argue that account size is the most important factor next to % return when comparing trade explorers.

One can make huge % returns on pocket money but once it grows it gets really hard to maintain the same growth rate, $50 and $10k are completely different leagues and should be compared to similar sized accounts.
Dragon Rider
  • #153
  • Oct 26, 2018 11:32pm Oct 26, 2018 11:32pm
You guys are making this way too complicated with nonsense.

The question is about whether the trader profitable. It's not about how he got there. It doesn't matter which broker he has. It doesn't matter what style of trading he has. It doesn't matter what tools he uses to place trades or manage trades. It doesn't matter which country he is from. It's not about whether his deposit currency is AUD or USD. It doesn't matter how many years he has been trading. It doesn't matter what currency pairs he trades. I'm sure there are more absurd things one can think of to split hairs over.

The question is simply who can reach the highest % return in terms of equity the fastest, having traded for 30 days. In other words, if trader A trades for 30 days and his return is 100%, and trader B trades for 30 days and his return is 200%, then trader B wins.
  • #154
  • Oct 26, 2018 11:34pm Oct 26, 2018 11:34pm
Quoting barloc
{quote} I would argue that account size is the most important factor next to % return when comparing trade explorers. One can make huge % returns on pocket money but once it grows it gets really hard to maintain the same growth rate, $50 and $10k are completely different leagues and should be compared to similar sized accounts.
I always respect dragon's and barloc's opinion.
But I'd stick up on mine on this one.
The win rate is much more relevant regarding trading performance than relative gainings or account size.

Cheers!

Quoting spotrate
In other words, if trader A trades for 30 days and his return is 100%, and trader B trades for 30 days and his return is 200%, then trader B wins.
Exactly my point.
Member
  • #155
  • Oct 26, 2018 11:39pm Oct 26, 2018 11:39pm
I would disagree with that completely. If someone is able to generate any profit consistently with a smaller account, he's already the winner based on that alone because that implies he has a finely tuned, surgical, and "high probability" strategy.

It's effortless to make giant profits when you have a large account. Any idiot with almost any strategy can make significant profits if they have a $50000 account. Try doing the same with a $500 account and that same 50K trader won't be able to it. The person who does would have my respect.
  • #156
  • Oct 26, 2018 11:56pm Oct 26, 2018 11:56pm
Quoting TudorIoan
{quote}The win rate is much more relevant regarding trading performance than relative gainings or account size.
Talk about win rate being the decisive factor of performance to anyone using hedging on a regular basis, and they'll just laugh in your face.
mind over matter
  • #157
  • Oct 27, 2018 12:56am Oct 27, 2018 12:56am
win rate, growth rate ...profit factor on a certain period of time? ...all time return? ...I guess "What we've got here is failure to communicate"

Here's more : Money, Lots size, Account size, tonez ov Pips ..they don't matter
Member
  • #158
  • Oct 27, 2018 1:03am Oct 27, 2018 1:03am
"What we've got here is failure to communicate" reminds me of a great song:
https://www.youtube.com/watch?v=isCh4kCeNYU
  • #159
  • Oct 27, 2018 1:06am Oct 27, 2018 1:06am
Quoting TudorIoan
I guess "What we've got here is failure to communicate"
Sounds more like a failure to understand... but hey, who cares, right! LOL
mind over matter
  • #160
  • Oct 27, 2018 1:06am Oct 27, 2018 1:06am
Quoting spotrate
"What we've got here is failure to communicate" reminds me of a great song: https://www.youtube.com/watch?v=isCh4kCeNYU
Actually is a legendary line from Cool Hand Luke - a great 1967 movie
...but Guns sounds great as well
Member
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