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XM Trading Competition for Signal Providers/Prop traders

  • #41
  • Jun 21, 2020 8:29am Jun 21, 2020 8:29am
Yup. But withdrawn profits will be deducted from equity if withdrawn before 90days.

All the profits in the cash you deposited is yours to keep at end of period 100%
  • #42
  • Jun 21, 2020 8:47am Jun 21, 2020 8:47am
Quoting Xmpartnerxm
Yup. But withdrawn profits will be deducted from equity if withdrawn before 90days. All the profits in the cash you deposited is yours to keep at end of period 100%

Does the deduction of withdrawn amount from the account equity of the participant also imply the deduction of the amount from the contest rating, adversely affecting position on the leader board?
  • #43
  • Jun 21, 2020 9:00am Jun 21, 2020 9:00am
Yes it does as the leaderboard is calculated based on equity gain in total.

The percentage gain is calculated as follows
% Gain = (X-Y-Z-A)/(Y+Z) * 100%
X - Final balance
Y - intial deposit
Z - additional deposit
A - withdrawal before 90 day completion
  • #44
  • Jun 21, 2020 9:05am Jun 21, 2020 9:05am
I'm also in talks with XM to sponsor highest lot traded
Top 10 highest lot traded will include a prize as well

Calculation is a multiplicant of deposit as not to cause disadvantage to lower deposit stsrtup

Highest lot calculation as follows

Highest lot multiplicant = total Lots traded /(Y + Z)

Highest top 10numbers will win. Prize pool undecided as of now

Will be awarded to only non profit withdrawal applicants within trading period
  • #45
  • Edited 11:13am Jun 21, 2020 9:14am | Edited 11:13am
Quoting Xmpartnerxm
I'm also in talks with XM to sponsor highest lot traded Top 10 highest lot traded will include a prize as well Calculation is a multiplicant of deposit as not to cause disadvantage to lower deposit stsrtup Highest lot calculation as follows Highest lot multiplicant = total Lots traded /(Y + Z) Highest top 10numbers will win. Prize pool undecided as of now Will be awarded to only non profit withdrawal applicants within trading period
Confirmation recieved. They will email me this week regarding the prize pool allocation
  • #46
  • Jun 21, 2020 11:22am Jun 21, 2020 11:22am
Quoting Xmpartnerxm
{quote} Confirmation recieved. They will email me this week regarding the prize pool allocation

Good news!
  • #47
  • Jun 22, 2020 5:06am Jun 22, 2020 5:06am
3 members starts today. Links soon once they get some trades on! Good luck
  • #48
  • Jun 22, 2020 10:16am Jun 22, 2020 10:16am
Please send over the investor login access to accounts asap.
  • #49
  • Jun 22, 2020 1:44pm Jun 22, 2020 1:44pm
If no investor oassword is handed over the day starting trade will be null. You will have to restart trading

This is to ensure that you will not have exceeded the mentioned drawdown quota during the period u traded without supervision.
  • #50
  • Edited Jun 23, 2020 1:51am Jun 22, 2020 5:11pm | Edited Jun 23, 2020 1:51am
Quoting Xmpartnerxm
If no investor oassword is handed over the day starting trade will be null. You will have to restart trading This is to ensure that you will not have exceeded the mentioned drawdown quota during the period u traded without supervision.

Myfxbook displays the maximum drawdown on the connected accounts. So such information will always be available as long as the account is active.
  • #51
  • Jun 22, 2020 6:13pm Jun 22, 2020 6:13pm
Quoting piple
{quote} Myfxbook displays the maximum drawdown on the connected accounts. So such information is always be available as long as the account is active.
Not if it's not connected. The drawdown shown differs from calculated and current. Myfxbook is not that accurate.

I have used plenty of myfxbook

Setting up myfxbook shouldn't take more than 10min I don't understand the delay.

Please send over the investor password and I will set it up.

And as I said unless I get the information you WILL have to start over. You are free to leave otherwise
  • #52
  • Jun 22, 2020 6:20pm Jun 22, 2020 6:20pm
DD is really difficult for myfxbook.com to calculate accurately. In order to calculate precisely an account's DD. myfxbook.com has to monitor its open positions tick by tick, but in reality it doesn't... it updates the values in higher intervals.. usually every 5 minutes or as low as 1 minute. Thus, the system is unaware of the price fluctuations happened during the periods between updates.
In order to get a good approximation of an accounts DD, myfxbook.com calculates DD on every transaction and not in real time.

For example, if an account is not updated (the myfxbook.com is not enabled) and the account has an open position losing 50% of the account's balance and no transaction takes place then finally the position turns positive and closes on profit, myfxbook.com will be unaware of this drawdown. If a transaction takes place went the account has a DD of 5%, then myfxbook.com will record a DD of 5% and not 50% which was the real DD, the floating DD as they call it.

The DD chart shows DD only when transactions have taken place. That's why there is differance between max DD and DD chart. The myfxbook.com EA has recorded max DD of 29.91% during its updates, but the higher DD was 4.43% when transactions have taken place. That is where the difference comes from.

The same awkward result can appear, when you have an account with myfxbook.com EA enabled and it has for example a max DD of 20% and if you delete and resubscribe the account the account's max DD may be lower, because myfxbook.com EA will find only the DD when transactions have taken place in the past. The floating DD will be unaccessible for the EA.

Of course it is possible for the EA to compare the time of the opened positions with the price data of the broker and calculate more accurately the DD at any time, but I guess this is a very high resource demanding process for myfxbook.com to handle for so many accounts.
  • #53
  • Jun 23, 2020 3:04am Jun 23, 2020 3:04am
Prize pool for most traded lots for top 10 is at $5000
1st place - $1500
2nd place - $1000
3rd place - $750
4th to 10th fixed - $250

This prize is in addition to the prize pool for highest equity percentage
  • #54
  • Jun 23, 2020 1:23pm Jun 23, 2020 1:23pm
Trade stats for the day

1.) Dmitri
Gain 1.67%
DD max 4.1%

2.) Ahamed M
Gain 0.79%
DD max 1.09%

3.) Abdul
Gain -0.32%
DD max 6%

4.) Bobby
No trading
5.)Ichigo
No trading

2 more trading clients not updated due to no investor password submissions
  • #55
  • Jun 24, 2020 12:56am Jun 24, 2020 12:56am
There is still time to join in

The competition only finishes OCtOber 15th.

If interested please drop in a comment
  • #56
  • Jun 24, 2020 2:21pm Jun 24, 2020 2:21pm
Trade stats for the day

1.) Dmitri
Gain 3.14%
DD max 4.1%

2.) Ahamed M
Gain 2.29,%
DD max 5.9%

3.) Abdul
Gain 2.90%
DD max 6%

4.) Bobby
Gain 2.37%
DD max 2%

5.)Ichigo
Gain 0.55%
DD max 3.3%
  • #57
  • Jun 26, 2020 2:51am Jun 26, 2020 2:51am
Trade stats for the day

1.) Dmitri
Gain 5.24%
DD max 4.1%

2.) Ahamed M
Gain 3.69,%
DD max 5.9%

3.) Abdul
Gain 1.06%
DD max 6%

4.) Bobby
Gain 5.28%
DD max 2.96%

5.)Ichigo
Gain 2.35%
DD max 3.3%
  • #58
  • Jun 26, 2020 7:52am Jun 26, 2020 7:52am
New participant joined from Malaysia

Bosol
  • #59
  • Last Post: Jun 26, 2020 8:39am Jun 26, 2020 8:39am
Update.

The minimum to join in now $250, no more clients of $50 will be taken in
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