They will have a contest next month. Their awards are crazy. $50,000! A company without asset over $2.5 million, how can they afford it? I don't think it as a serious company.
What do you think?
What do you think?
- #4
- May 28, 2005 5:39pm May 28, 2005 5:39pm
- Joined Mar 2004 | Status: Magic Man | 3,220 Posts
yeah i couldnt believe it when i saw there were 50k in prizes. 35k to the winner??? thats a BIG prize, and worth competing for! 
what do you guys think the winning % will be? its got to be 3 or 400%, maybe higher?
i already have an account with FX Sol, and im thinking about coming up with a strategy to win the prize. i think i could put something together that will give me a 50% chance of a 400% return (and a 50% chance of losing the $2,500 minimum account). but with the prize money at stake, this may be a bet worth taking. plus everyone would think i was really cool for winning
i just dont know if 400% will be enough to win. what do you guys think?
what do you guys think the winning % will be? its got to be 3 or 400%, maybe higher?
i already have an account with FX Sol, and im thinking about coming up with a strategy to win the prize. i think i could put something together that will give me a 50% chance of a 400% return (and a 50% chance of losing the $2,500 minimum account). but with the prize money at stake, this may be a bet worth taking. plus everyone would think i was really cool for winning
i just dont know if 400% will be enough to win. what do you guys think?
Relax and be happy.
yeah i couldnt believe it when i saw there were 50k in prizes. 35k to the winner??? thats a BIG prize, and worth competing for!
what do you guys think the winning % will be? its got to be 3 or 400%, maybe higher?
i already have an account with FX Sol, and im thinking about coming up with a strategy to win the prize. i think i could put something together that will give me a 50% chance of a 400% return (and a 50% chance of losing the $2,500 minimum account). but with the prize money at stake, this may be a bet worth taking. plus everyone would think i was really cool for winning
i just dont know if 400% will be enough to win. what do you guys think?
- #7
- May 29, 2005 4:38pm May 29, 2005 4:38pm
- Joined Mar 2004 | Status: Magic Man | 3,220 Posts
You are just being modest, you know you can take down those 35 g's!
you think 400% would do the trick, blue?
Relax and be happy.
well i dont know if saying i have a 50% chance of a 400% return is modest
i did not read the contest rules because like i said i would not be entering (which gives you a chance Merlin!) If there are no "rebuys" then I would say yes definitely. I will be rooting for you Merlin!
yeah i couldnt believe it when i saw there were 50k in prizes. 35k to the winner??? thats a BIG prize, and worth competing for!
what do you guys think the winning % will be? its got to be 3 or 400%, maybe higher?
i already have an account with FX Sol, and im thinking about coming up with a strategy to win the prize. i think i could put something together that will give me a 50% chance of a 400% return (and a 50% chance of losing the $2,500 minimum account). but with the prize money at stake, this may be a bet worth taking. plus everyone would think i was really cool for winning
i just dont know if 400% will be enough to win. what do you guys think?
If you can design a system like that, you have a money machine. Just re-fund your account (or take your profits) every month!
James
- #10
- Jun 2, 2005 4:26pm Jun 2, 2005 4:26pm
- Joined Mar 2004 | Status: Magic Man | 3,220 Posts
Me thinks that it depends.....on if you are allowed to fund your account after it has been blown out. These kind of tournaments whether they be poker or chess or whatever give the people with deep pockets the advantage. I dont intend to enter not because it is a rip off like some people suggest the brokers are doing. It's a t-o-u-r-n-a-m-e-n-t, or contest. But because I am not ready for a tournament. You would not use the same techniques that you use everyday for a contest and vice versa you would not use tournament techinques for everday trading they are different animals altogether
your right that the refueling makes things a bit more difficult, i hadnt thought of that. im not definite that i am entering, still looking at the probabilities...
Relax and be happy.
- #11
- Jun 2, 2005 4:27pm Jun 2, 2005 4:27pm
- Joined Mar 2004 | Status: Magic Man | 3,220 Posts
Relax and be happy.
- #12
- Jun 2, 2005 4:30pm Jun 2, 2005 4:30pm
- Joined Mar 2004 | Status: Magic Man | 3,220 Posts
You would not use the same techniques that you use everyday for a contest and vice versa you would not use tournament techinques for everday trading they are different animals altogether
Relax and be happy.
not true my friend! i have a 50% chance of loosing it all, so over time i would go broke with certainty.
Month 2: Fund account with $10,000. Ending bal $40,000. Withdraw $30,000 from account. Up $20,000 total.
Month 3: Account has $10,000. Account busts. Up $10,000 total.
Month 4: Fund account with $10,000. Ending bal $40,000. Withdraw $30,000 from account. Up $30,000 total.
Month 5: Account has $10,000. Account busts. Up $20,000 total.
Repeat ad infinitum. Looks like a money machine to me.
James
i would use one of my systems that i trade everyday, i the only thing that would change would be the position sizing. instead of risking 0.8%, i would use an optimal f around 14%.
- #15
- Jun 2, 2005 10:59pm Jun 2, 2005 10:59pm
- Joined Mar 2004 | Status: Magic Man | 3,220 Posts
Month 1: Fund account with $10,000. Account busts. Down $10,000 total.
Month 2: Fund account with $10,000. Ending bal $40,000. Withdraw $30,000 from account. Up $20,000 total.
Month 3: Account has $10,000. Account busts. Up $10,000 total.
Month 4: Fund account with $10,000. Ending bal $40,000. Withdraw $30,000 from account. Up $30,000 total.
Month 5: Account has $10,000. Account busts. Up $20,000 total.
Repeat ad infinitum. Looks like a money machine to me.
James
so i just did a standard "risk of ruin" analysis....
i found that if we went through the process of of investing 10k for a -100% return or a 400% return (with a 50% chance of a win), we have a 21% chance of loosing 40k. a 14.21% chance of loosing 50k. those are not good odds in my book!
Relax and be happy.
ok you got my attention
so i just did a standard "risk of ruin" analysis....
i found that if we went through the process of of investing 10k for a -100% return or a 400% return (with a 50% chance of a win), we have a 21% chance of loosing 40k. a 14.21% chance of loosing 50k. those are not good odds in my book!
- #17
- Jun 3, 2005 3:34pm Jun 3, 2005 3:34pm
- Joined Mar 2004 | Status: Magic Man | 3,220 Posts
Relax and be happy.
this is the part that gets ya! that unusually long run of losers (however remote the possibility it will show up) will knock you out of the game.
- #19
- Last Post: Jun 12, 2005 3:28pm Jun 12, 2005 3:28pm
- Joined Mar 2004 | Status: Magic Man | 3,220 Posts
Merlin, did you or are you going to enter the contest?
wish me luck!
Relax and be happy.