Over 13,000% return in just 1 week ! How is that possible ? | Forex Factory

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Over 13,000% return in just 1 week ! How is that possible ?

  • #1
  • First Post: Apr 17, 2009 4:38am Apr 17, 2009 4:38am
For those who are not familiar with master forex, they have weekly demo account contest. Week after week, most of them are China & Russia people in top 10. The demo contest starting fund is $1000 and last week the top guy got the fund to $139,669. How is that possible ? I saw that many times for the past few weeks.

Below is the top 10 for last week demo contest. The starting fund is only $1000.
Attached Image
  • #2
  • Apr 17, 2009 4:49am Apr 17, 2009 4:49am
Quoting forexisfx
For those who are not familiar with master forex, they have weekly demo account contest. Week after week, most of them are China & Russia people in top 10. The demo contest starting fund is $1000 and last week the top guy got the fund to $139,669. How is that possible ? I saw that many times for the past few weeks.

Below is the top 10 for last week demo contest. The starting fund is only $1000.
on demo everything works, since broker don't open opposit order against your order. on real account game is different.
for this masterforex compitition 1st price is 100$...if those top trader can turn 1000$ to 139000$..what they are doing on DEMO ??????. why they are not trading on real 1000$ account....
  • #3
  • Edited 5:05am Apr 17, 2009 4:51am | Edited 5:05am
Quoting ramdas
on demo everything works, since broker don't open opposit order against your order. on real account game is different.
for this masterforex compitition 1st price is 100$...if those top trader can turn 1000$ to 139000$..what they are doing on DEMO ??????. why they are not trading on real 1000$ account....
It's not easy to get 13,000% return in 1 week even if it is demo account.

I taken this from their forum.

Winners of the week 03/02/2009 - 03/06/2009:

Account Country Balance
1 4579928 Russia 1 599 174
2 4579684 China 48 962
3 4579151 China 45 428
4 4578572 Iran 43 984
5 4580192 Russia 29 696
6 4579868 China 27 338
7 4579300 Russia 19 978
8 4579293 China 19 590
9 4580147 Indonesia 14 221
10 4576608 Russia 14 123

A record breaker from Russia became the leader. It is the best result in all history of our competitions! This participant has made a large quantity of transactions, having tried almost all currency pairs in his trade. He increased his basically successful transactions to eight hundred lots on the last day and earned up to $40, 000 on each of them.
The Chinese became the second. He basically used the trading pair AUDUSD, increasing volume of transactions to eight prizes. One more contestant from China is on the third place. His strategy was identical to the previous participant.

turning $1000 into 1.5 million dollars is not easy in just 1 week ! I bet no one in FF can show this kind of return in just 1 week on demo account

Why the Chinese & Russian seems to do this kind of return week after week ? I rarely see any US on top 10.

If i have a strategy that have a chance to get that kind of return , I'm willing to try that every week with 100 USD. I'll keep whatever profit every week and start afresh with 100 USD
  • #4
  • Apr 17, 2009 5:18am Apr 17, 2009 5:18am
Quote
Why the Chinese & Russian seems to do this kind of return week after week ? I rarely see any US on top 10.

Because jacking up your lot size means taking insane levels of risk. It's a demo, so who cares, but if it was real trading... you'd be blowing out an account with that.

MM rules take discipline. Most actual traders know breaking those rules isn't worth the paltry prize amounts when it puts your discipline at risk.
  • #5
  • Apr 17, 2009 6:45am Apr 17, 2009 6:45am
Demo is as good as useless all its really worth is in helping you get familiar with your trading software and its glitches. As far as learning the skill of trading is concerned its useless

I've seen oodles of traders winning the demo contest on etoro $2000 to between $250k~400k in a week. I once saw the winner of one particular week take it to over a million.

Sure they get the prize but etoro's rules are u cant withdraw the prize money they know all to well such traders will lose it all and lose it fast once they go live. This is what happens in every single case. I never saw any of the demo contest winners EVER even make it to the top 10 once they go live. They dont even figure on the list. I've never seen a demo winner figure on the live list let alone win the live weekly competition.
  • #6
  • Apr 17, 2009 11:41am Apr 17, 2009 11:41am
Quoting forexisfx
It's not easy to get 13,000% return in 1 week even if it is demo account.

I taken this from their forum.

Winners of the week 03/02/2009 - 03/06/2009:

Account Country Balance
1 4579928 Russia 1 599 174
2 4579684 China 48 962
3 4579151 China 45 428
4 4578572 Iran 43 984
5 4580192 Russia 29 696
6 4579868 China 27 338
7 4579300 Russia 19 978
8 4579293 China 19 590
9 4580147 Indonesia 14 221
10 4576608 Russia 14 123

[i]A record breaker from Russia became the leader....
Well,I think the US guys don`t have time to chase after shadow since they know that it is only a shadow.
we cannot succeed without a well defined risk management.
  • #7
  • Apr 17, 2009 1:04pm Apr 17, 2009 1:04pm
Quoting forexisfx
turning $1000 into 1.5 million dollars is not easy in just 1 week ! I bet no one in FF can show this kind of return in just 1 week on demo account
You're on.

And the demo-to-real note of no one making it just as big post-contest reminds me of a rumor about Star Search, almost none of the big winners there go on to be just-as-big stars. Different variables, I guess. Maybe some peoples' brain is wired for contests, others' for consistency.
  • #8
  • Apr 18, 2009 3:42pm Apr 18, 2009 3:42pm
Quoting forexisfx

turning $1000 into 1.5 million dollars is not easy in just 1 week ! I bet no one in FF can show this kind of return in just 1 week on demo account
even if they could it really wouldn't help them make a dime .... I mean a real dime in the long run
  • #9
  • Edited Apr 19, 2009 11:13am Apr 18, 2009 7:49pm | Edited Apr 19, 2009 11:13am
not to get into the argument of demo vs reality BUT one must note that 800 lots is NOT a figure your friendly local prop shop is going to allow you to trade --- NOWHERE NEAR IT ! My broker has a limit of 20 lots and others have similar.

the manner of increasing the lots, while certainly an excellent method to accelerate gains, does refuse to take into consideration what happens when 800 lots go into a drawdown of a measly 20 pips --- i sure wouldnt want to be holding that hand without a porta potty standing by, and DEFINITELY not with real money !

it is very interesting to see how they go about playing the game, and while this strategy is in constant use around the world (on a "slightly" smaller basis, shall we say) it doesnt hold much credence towards a realistic situation, which others here have pointed out.

I remember the EA contest of two years ago (imagine this years pretty much the same) where the winner found a trending currency (USDCAD as i remember) and set his EA on it --- increasing lots as it went up and selling the dips, then buying and increasing lots again --- the same theory, WHICH BY THE WAY has been the de facto standard for investors for the last 200 years, albeit usually modified by "averaging down" instead of selling the dip and buying the bottom --- THAT is for traders to do, not investors !

INTERESTING little sidenote though.

enjoy and trade well

mp
  • #10
  • Apr 19, 2009 3:55pm Apr 19, 2009 3:55pm
thats cool, i see thr mostly Russians this week. they must be doing somthing right LOL. what is the most official trading championship site?? like thr is this for EAs http://championship.mql4.com/ is thr 1 for manual trading? i am currently entered in surefirechallenge i dont now how oficialial/popular thet is. funnily i and just trading a/u like thos chines lossin now so mayb luke will chang anyone have a clue for compatitions?
  • #11
  • May 17, 2009 2:10pm May 17, 2009 2:10pm
Who can prove that these results are true? They probably dont give any money to any real person...You will never see those returns on live account contest. Pathetic!
  • #12
  • May 17, 2009 10:30pm May 17, 2009 10:30pm
It's easy. Use a number of different demo accounts and go all in with different approaches in all of them. At least one should be in the black heavily after a week.
  • #13
  • May 17, 2009 11:43pm May 17, 2009 11:43pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
it is suicide money management in long run. i attach an account statement of the weekly contest winner from china for your study. the contests were conducted by Ikon Asia.

to be honest, i am very jealous of their skill. i tried to contact any one of the winners to see how they trade without success. probably any of you know where these winners participate in any forum?



Quoting forexisfx
It's not easy to get 13,000% return in 1 week even if it is demo account.

I taken this from their forum.

Winners of the week 03/02/2009 - 03/06/2009:

Account Country Balance
1 4579928 Russia 1 599 174
2 4579684 China 48 962
3 4579151 China 45 428
4 4578572 Iran 43 984
5 4580192 Russia 29 696
6 4579868 China 27 338
7 4579300 Russia 19 978
8 4579293 China 19 590
9 4580147 Indonesia 14 221
10 4576608 Russia 14 123

[i]A record breaker from Russia became the leader....
Attached File(s)
File Type: pdf DK－张树林.pdf   71 KB | 563 downloads
  • #14
  • May 18, 2009 12:51am May 18, 2009 12:51am
Quoting Rabid
Because jacking up your lot size means taking insane levels of risk. It's a demo, so who cares, but if it was real trading... you'd be blowing out an account with that.

MM rules take discipline. Most actual traders know breaking those rules isn't worth the paltry prize amounts when it puts your discipline at risk.
Also on real account it's not possible to trade 10+ lots without having to make a request (if not on IB broker) a having to pay a much larger spread.
  • #15
  • May 18, 2009 12:44pm May 18, 2009 12:44pm
why not tell them to stop at the max lots for a live broker and pretend it's a Demo account when it's SECRETLY a live account.

if they can take $500 to like 15K...wouldn't it be worth the Try?
taking series 3 and 34
  • #16
  • Jan 2, 2015 8:15am Jan 2, 2015 8:15am
Alexander Elder writes about trading contests in his book "Trading for a living", 1st edition, see page 55 (the 2nd edition which is called "new trading for a living" doesn't contain this section).
Excerpt: "Each dog has its day in the sun and most losers have at least one good quarter. If you keep entering contests and taking wild chances, eventually you will have a winning quarter." Simple.
  • #17
  • Jan 2, 2015 4:22pm Jan 2, 2015 4:22pm
the only way to increase profit is to increase risk.... so for massive profit there was massive risk. That is trading
tradewith60
  • #18
  • Jan 3, 2015 4:36am Jan 3, 2015 4:36am
Simple answer: Arbitrage trading. Brokers dont give a $$$$ if you use arbitrage trading to win a demo contest and it can be done even easier on demo account. But if you use the same strategy with real account, dont have any hope for withdrawing profits.
  • #19
  • Last Post: Jan 3, 2015 12:10pm Jan 3, 2015 12:10pm
Quoting brian.jer
Simple answer: Arbitrage trading. Brokers dont give a $$$$ if you use arbitrage trading to win a demo contest and it can be done even easier on demo account. But if you use the same strategy with real account, dont have any hope for withdrawing profits.
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