Extreme Trading - Results Mind Boggling | Forex Factory

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Extreme Trading - Results Mind Boggling

  • #1
  • First Post: Mar 6, 2009 6:01pm Mar 6, 2009 6:01pm
So, for those of you that don't know, FXCM Micro holds a competition called King of the Micro every month where at the end of the month, the top 3 with the highest percentage gain from the start of the month get money. You need to start with a minimum of $500 though. Now, the crazy stuff. For February 2009, the top person got a 1493.86% gain and the 2nd highest got a 1245.21% gain. And this happened in a month's time. Now, you can actually look at every trade they made in detail, like when they made the trade, how much they put on the trade, when they open and closed it, etc etc. The top person showed that he was actually a very consistent trader with gains every single day, but the 2nd highest person....now.....that is where my mind could not grasp the trading style. I will leave you to look at the trading report to know what I am talking about. But lets just say he goes from $1k to $6k to $500 in less than 48 hours and somehow manages to go from $500 to $35k to $17k by the end of the month. That is.....mind boggling trading. Here is the link to the results and trading reports: http://forexforums.dailyfx.com/micro...9-results.htmlHope you all have fun staring in awe and also shaking your head in disgust like I have.
  • #2
  • Mar 6, 2009 6:26pm Mar 6, 2009 6:26pm
Quoting KirbyFX
So, for those of you that don't know, FXCM Micro holds a competition called King of the Micro every month where at the end of the month, the top 3 with the highest percentage gain from the start of the month get money. You need to start with a minimum of $500 though. Now, the crazy stuff. For February 2009, the top person got a 1493.86% gain and the 2nd highest got a 1245.21% gain. And this happened in a month's time. Now, you can actually look at every trade they made in detail, like when they made the trade, how much they put on the trade, when...
Wow man. This is amazing and also very interesting.

Going to check those reports out
  • #3
  • Mar 6, 2009 6:28pm Mar 6, 2009 6:28pm
The power of compounding...
  • #4
  • Mar 6, 2009 8:03pm Mar 6, 2009 8:03pm
Hummmm...guess these results can't be disputed. These are live accounts in a live contest. But then again, I thought multiple thousands of pips in a month was....impossible?

Congrats to those incredible traders!

Coach
  • #5
  • Mar 6, 2009 8:07pm Mar 6, 2009 8:07pm
Dude, if I had a million bucks in the bank and was retired, I'd need something to do to occupy my time.

To throw 500 or 1000 into an account and have fun is definitely a possible hobby. And these guys might just be showing what can be done with forex, even if they blow 20 accounts in the process.
  • #6
  • Mar 6, 2009 8:08pm Mar 6, 2009 8:08pm
Quoting Coach1959
Hummmm...guess these results can't be disputed. These are live accounts in a live contest. But then again, I thought multiple thousands of pips in a month was....impossible?

Congrats to those incredible traders!

Coach
I think in these contests luck plays a bigger part than normal. For a chance at winning they have to take on massive risk, its a lotto.
Living the adventure in my head.
  • #7
  • Mar 6, 2009 8:29pm Mar 6, 2009 8:29pm
Quoting Leonlorenzo
I think in these contests luck plays a bigger part than normal. For a chance at winning they have to take on massive risk, its a lotto.
Hey Leon,

Perhaps you are right on with your assessment. However, I subscribe to the theory that there are traders out in the Forex world that are amazingly gifted. In this contest it is clear they had some sizable losses while on their way to huge gains. Evidently they had a system to keep them constantly in a trade. Maybe they used some kind of hedge strategy. It's hard to say.

Warm regards,

Coach
  • #8
  • Mar 6, 2009 9:18pm Mar 6, 2009 9:18pm
Quoting Coach1959
Hey Leon,

Perhaps you are right on with your assessment. However, I subscribe to the theory that there are traders out in the Forex world that are amazingly gifted. In this contest it is clear they had some sizable losses while on their way to huge gains. Evidently they had a system to keep them constantly in a trade. Maybe they used some kind of hedge strategy. It's hard to say.

Warm regards,

Coach
Well, someone has to win, so I agree.

But the ones that have been profitable for a long time wont be entering Demo contests. JMO.

Leon
Living the adventure in my head.
  • #9
  • Mar 6, 2009 9:40pm Mar 6, 2009 9:40pm
Quoting Leonlorenzo
Well, someone has to win, so I agree.

But the ones that have been profitable for a long time wont be entering Demo contests. JMO.

Leon
Someone could have been profitable for a long time but waaay undercapitalized... and that contest prizes seem to be quite an incentive...
  • #10
  • Mar 6, 2009 9:46pm Mar 6, 2009 9:46pm
Quoting doblece
Someone could have been profitable for a long time but waaay undercapitalized... and that contest prizes seem to be quite an incentive...
Very true. That would be the exception.

Leon
Living the adventure in my head.
  • #11
  • Mar 7, 2009 2:02am Mar 7, 2009 2:02am
Knowing FXCM its probably a way to get ur 500USD... and then come up with 10 fake names with amazing returns with imaginery winners and ofcourse an imaginery reward to an imaginery person...

If you go to the link one person commented on how come the results changed from an hour ago?

I think all traders are pretty much aware of this FXCM trickery and methods of luring people in...
  • #12
  • Last Post: Mar 7, 2009 6:20am Mar 7, 2009 6:20am
whether its true or not one things for sure ......... trade like hell and (sooner or later) you'll get there

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