How do they get these returns | Forex Factory

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How do they get these returns

  • #1
  • First Post: Feb 15, 2008 10:08am Feb 15, 2008 10:08am
I thought I was doing good just being in the black, but these guys in the
FXSOL competition are ridiculous...

http://fxsol.com/contest/test-drive/leader-board.html

That's just after 1 week!??? What the heck are they doing
  • #2
  • Feb 15, 2008 10:16am Feb 15, 2008 10:16am
It's a demo account..but more over, fx sol have some heavy traders .The story maybe will be different if the highest yield of return is not the one to be measure, but the highest risk-adjusted yield.

Quoting Ladinero
I thought I was doing good just being in the black, but these guys in the
FXSOL competition are ridiculous...

http://fxsol.com/contest/test-drive/leader-board.html

That's just after 1 week!??? What the heck are they doing
  • #3
  • Feb 15, 2008 10:21am Feb 15, 2008 10:21am
Yeah they just risk most of their account each trade. Very risky but it's a contest so making 5% is not gonna do it. You either win big or lose everything real fast. It's like a poker tournament you don't get anything for just keeping the same amount of chips. All in!
  • #4
  • Feb 15, 2008 11:21am Feb 15, 2008 11:21am
ya, using big leverage.. but essentially it's just like gambling, you will lose a couple of trades in a row and that will be the end of your account.
  • #5
  • Feb 15, 2008 11:21am Feb 15, 2008 11:21am
God, i hate these types of contests. Short nad pointless, and these brokers are just instilling BAD habits into these traders.

IF they really want to find the best of the best, they need to run a year long contest for live account holders. That's something I would be interested in.
  • #6
  • Feb 15, 2008 12:19pm Feb 15, 2008 12:19pm
It's a nice thing just for fun, it's a demo account afterall. But does you no good in improving your trading skills.
Trax Tibidax Tibidox...
  • #7
  • Feb 15, 2008 5:51pm Feb 15, 2008 5:51pm
They must have some super duper EA they've developed (not), then they're gonna put them on sale, knowing all the newbies are gonna pay loads of cash to get hold of them.
  • #8
  • Edited 6:55pm Feb 15, 2008 6:42pm | Edited 6:55pm
Quoting forexmoments
They must have some super duper EA they've developed (not), then they're gonna put them on sale, knowing all the newbies are gonna pay loads of cash to get hold of them.
Lies, All Lies I tell you.

Roll up. Roll Up. See the Great Hairy Lady.
More hair under her armpits than your Daddy has on his... What was that there sonny? Who was that that just walked by?...
THAT was a Trader there sonny.
You wanna be a Trader sonny? Then come on in. $0.25 to see the Greatest Show on Earth. You'll see folks not double but triple, quadruple and, he|| yeah, even make 10 Times their money in less than a Month. You Can Too.

All ya gotta do is follow the instructions and yer gonna be set for life.

%$^&@ Trading Contest Winning Strategies at the rediculously Low Low Price of $1,500.00 AND THAT GETS YOU A FULL YEAR of Support and Signals and a 'T' Shirt and a Rolex and... and... and...

So; Don't be shy. Life passes too quickly to MISS AN OPPORTUNITY and this is the Best Opportunity you're gonna see in your lifetime.

S#it. Why waste time going into the tent to see the show. Just show me your CARD & we'll sign you up right now. By suppertime, you'll be drivin' a Porsche.

Meanwhile...
I personally still have a 10 point Inspections List to run through Before Turning Left in Traffic. But I must say, after having Done It SO Many Times, I'm getting Faster at it.

:
  • #9
  • Feb 15, 2008 7:18pm Feb 15, 2008 7:18pm
Bemac

You're not suggesting these contest's have other motives are you?

Great post,made me laugh,then again I am full of beer!

{Don't be so untrustworthy.These people might like giving away prizes}
The greatest enemy of a good plan is the dream of a perfect plan.
  • #10
  • Feb 15, 2008 7:54pm Feb 15, 2008 7:54pm
I think returns like these beg the obvious question, if you were that successful trading why would you even be looking at a contest like this with such a little purse for the winner??
I reckon I'd be too busy on my 47 foot Steber or something else more relaxing
  • #11
  • Feb 15, 2008 8:15pm Feb 15, 2008 8:15pm
What you can achieve in a demo account, you cant achieve the same result in live trading.
  • #12
  • Feb 15, 2008 8:36pm Feb 15, 2008 8:36pm
Quoting PipStar
What you can achieve in a demo account, you cant achieve the same result in live trading.
Yes, I should have just written 'successful' instead of 'that successful', my bad, thanks.
  • #13
  • Feb 15, 2008 9:54pm Feb 15, 2008 9:54pm
Lol after see a +1000% in 2 weeks, i'm thinking about not waste my time partecipating in the next round i'll never do 1000% in 2 weeks
  • #14
  • Feb 15, 2008 10:48pm Feb 15, 2008 10:48pm
How much leverage do they allow in the contest? FX Solutions offers up to 300 or 400:1 (which is ludicrous..), but if that's allowed in the contest, then this is simple odds. With thousands of entrants, most of whom are probably using full leverage since it's fake money, the odds of a handful hitting 4 or more successive 50-pip trades without blowing up are quite good.

Unless FX Sol is adept at catching multiple accounts, I wouldn't put it past people to generate a bunch of simultaneous entries, placing opposite trades, and then just keeping the winners.
  • #15
  • Feb 15, 2008 11:15pm Feb 15, 2008 11:15pm
Quoting tunera
Lol after see a +1000% in 2 weeks, i'm thinking about not waste my time partecipating in the next round i'll never do 1000% in 2 weeks
that 1,000% was just from the 1st week wait till monday when they tally up the 2nd week, that will be the end of the 1st round.
If I Go Broke Trying Then I Will die happy.
  • #16
  • Feb 16, 2008 3:36am Feb 16, 2008 3:36am
Chances are that they have lost all their big gains by the start of week 3.
  • #17
  • Feb 16, 2008 9:43am Feb 16, 2008 9:43am
Quoting Bemac
Lies, All Lies I tell you.

Roll up. Roll Up. See the Great Hairy Lady.
More hair under her armpits than your Daddy has on his... What was that there sonny? Who was that that just walked by?...
THAT was a Trader there sonny.
You wanna be a Trader sonny? Then come on in. $0.25 to see the Greatest Show on Earth. You'll see folks not double but triple, quadruple and, he|| yeah, even make 10 Times their money in less than a Month. You Can Too.

All ya gotta do is follow the instructions and yer gonna be set for life.

%$^&@ Trading Contest Winning Strategies at the rediculously Low Low Price of $1,500.00 AND THAT GETS YOU A FULL YEAR of Support and Signals and a 'T' Shirt and a Rolex and... and... and...

So; Don't be shy. Life passes too quickly to MISS AN OPPORTUNITY and this is the Best Opportunity you're gonna see in your lifetime.

S#it. Why waste time going into the tent to see the show. Just show me your CARD & we'll sign you up right now. By suppertime, you'll be drivin' a Porsche.

Meanwhile...
I personally still have a 10 point Inspections List to run through Before Turning Left in Traffic. But I must say, after having Done It SO Many Times, I'm getting Faster at it.

:
LOL, that's it, I'm rolling up!!!
  • #18
  • Feb 17, 2008 2:50pm Feb 17, 2008 2:50pm
Quoting MickD
I think returns like these beg the obvious question, if you were that successful trading why would you even be looking at a contest like this with such a little purse for the winner??
I reckon I'd be too busy on my 47 foot Steber or something else more relaxing
I don't want to sound to negotive. But I have the same thought.

Ron
  • #19
  • Feb 17, 2008 2:55pm Feb 17, 2008 2:55pm
Quoting Moe
that 1,000% was just from the 1st week wait till monday when they tally up the 2nd week, that will be the end of the 1st round.
Yea, I feel the same way. How could I ever come close to winning anything. Even the small $1,000 prize.

Ron
  • #20
  • Last Post: Feb 17, 2008 2:59pm Feb 17, 2008 2:59pm
anyway the first round is finished, today start the 2° round that will hold for 2 weeks
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