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  • #4,141
  • Oct 20, 2011 9:13am Oct 20, 2011 9:13am
This post is not to be disrespectful at all.... just a foreword. Don't want it to be taken the wrong way.

I've been watching the fx challenge results and see that Mamood is still in the contest but your wife has dropped from the challenge as well.

Did she make the same mistakes as you or has she just dropped out?

I saw the same result the first contest and was wondering what kindve risk parameters you guy's are using? Maybe too much averaging?

It's just strange to blow up on one day. Seems the risk parameters are way out of line.
  • #4,142
  • Oct 20, 2011 2:32pm Oct 20, 2011 2:32pm
Quoting Deusomega
This post is not to be disrespectful at all.... just a foreword. Don't want it to be taken the wrong way.

I've been watching the fx challenge results and see that Mamood is still in the contest but your wife has dropped from the challenge as well.

Did she make the same mistakes as you or has she just dropped out?

I saw the same result the first contest and was wondering what kindve risk parameters you guy's are using? Maybe too much averaging?

It's just strange to blow up on one day. Seems the risk parameters are way out of line.
Hi, I too was keeping watch on Varengold Challenge contest and hoping our forum members do well. It seem maybe too much risk taken which cause dropout from top ten to nowhere in top 50 in one day! Maybe Mr. Dongsky will tell us what happen. Last year same thing happen and this year again. maybe startegy is too dangerous!
Mr Donsky post "bearish" early london session. maybe he/wife got hit when london went up over 100 pip after that? would be good if discuss what happen strategy cannot cope. Thank you for awaited feedback.
  • #4,143
  • Oct 21, 2011 2:18am Oct 21, 2011 2:18am
Quoting Fayloh
Hi, I too was keeping watch on Varengold Challenge contest and hoping our forum members do well. It seem maybe too much risk taken which cause dropout from top ten to nowhere in top 50 in one day! Maybe Mr. Dongsky will tell us what happen. Last year same thing happen and this year again. maybe startegy is too dangerous!
Mr Donsky post "bearish" early london session. maybe he/wife got hit when london went up over 100 pip after that? would be good if discuss what happen strategy cannot cope. Thank you for awaited feedback.
Hi friends,

have no idea what really happened, but want to give you a quick update about the way the ranking is calculated.

They are using the ratio of OverAllPerformance/DailyStandardDeviation.
That means, that when you are not delivering the same percentage day in day out the DailyStandardDeviation increases immediately. So for example when you deliver 0.4% per day and on the last day you deliver -5% you are out of the ranking immediately.
And because the Challenge has some valuable prices only for the top 3, it makes sense to try to fight your losses with every possible risk, to get back to your daily performance goal. This way of ranking does not allow to make one bad day back. Only if the guys in front of you will fail also, you have a chance. It does not honor, if you are a awesome trader. it Only rewards a very constant way of trading ...

And by the way: When I have to focus strongly on my real money accounts, I would skip the challenge with out hesitation :-)

All the best!

Niels
  • #4,144
  • Oct 21, 2011 2:58am Oct 21, 2011 2:58am
Quoting Deusomega
This post is not to be disrespectful at all.... just a foreword. Don't want it to be taken the wrong way.

I've been watching the fx challenge results and see that Mamood is still in the contest but your wife has dropped from the challenge as well.

Did she make the same mistakes as you or has she just dropped out?

I saw the same result the first contest and was wondering what kindve risk parameters you guy's are using? Maybe too much averaging?

It's just strange to blow up on one day. Seems the risk parameters are way out of line.

yep she booked in some losses and i tried saving her account but just managed to breakeven... ah well, we're both very rigid recently, and again just proved myself that managing other peoples money is quite different from managing own's account. we're out...

need to focus on own account now... again, lesson learned.

back to the basic once again...

be good and be safe...

@ niels... switching from different account to another was quite a challenge... but own account is top priority as always... back to my cave now...
Success consists of going from failure to failure without loss of enthusiam
  • #4,145
  • Oct 21, 2011 2:46pm Oct 21, 2011 2:46pm
Quoting MaMood
Hi friends,

have no idea what really happened, but want to give you a quick update about the way the ranking is calculated.

They are using the ratio of OverAllPerformance/DailyStandardDeviation.
That means, that when you are not delivering the same percentage day in day out the DailyStandardDeviation increases immediately. So for example when you deliver 0.4% per day and on the last day you deliver -5% you are out of the ranking immediately.
And because the Challenge has some valuable prices only for the top 3, it makes sense to try to fight...
Hi Niels

Thanking you very much for explaination of calculations. I see you still up there in top 10, very well done! Hope you get up to top 3 soon. I cheering for you.
  • #4,146
  • Oct 21, 2011 7:47pm Oct 21, 2011 7:47pm
Quoting MaMood
Hi friends,

have no idea what really happened, but want to give you a quick update about the way the ranking is calculated.

They are using the ratio of OverAllPerformance/DailyStandardDeviation.
That means, that when you are not delivering the same percentage day in day out the DailyStandardDeviation increases immediately. So for example when you deliver 0.4% per day and on the last day you deliver -5% you are out of the ranking immediately.
And because the Challenge has some valuable prices only for the top 3, it makes sense to try to fight...
I see now Mamood makes sense thx. Those top guys are unreal. I always wondered if they would put their own guys in there to prevent anyone from claiming prize
  • #4,147
  • Oct 21, 2011 8:33pm Oct 21, 2011 8:33pm
Dongsky,

Don't pressure yourself with that crap. It's designed for you to lose.
Just focus on taking care of you brother. Thats all you can count on
in this world, besides family and friends.

Wish you well
Mike
  • #4,148
  • Oct 22, 2011 6:54am Oct 22, 2011 6:54am
Quoting tubguy
Dongsky,

Don't pressure yourself with that crap. It's designed for you to lose.
Just focus on taking care of you brother. Thats all you can count on
in this world, besides family and friends.

Wish you well
Mike
Hi Mike,

Spot on! and i agree with you, and nothing to worry, my book(s) up and running and very healthy... when i'm in battle i'm very focus... considering it's my bread and butter. dancing with own account is very different mindset and MO... that is what i find... and all i can say now is, competition as such is not for everyone...

Family and friends is the thing!

kind regards,
Eddy
Success consists of going from failure to failure without loss of enthusiam
  • #4,149
  • Oct 27, 2011 3:29am Oct 27, 2011 3:29am
Dongsky,

How goes the dancing. I like the way you flow with the market. I too try to flow with the market. I go about it a little different way. Hope the dancing continues to go well for you. I will be hanging around.

golferguy99
PIP'N
  • #4,150
  • Oct 27, 2011 6:13am Oct 27, 2011 6:13am
Quoting golferguy99
Dongsky,

How goes the dancing. I like the way you flow with the market. I too try to flow with the market. I go about it a little different way. Hope the dancing continues to go well for you. I will be hanging around.

golferguy99

The dancing is getting better and sharper I am very well, strong as ever and keeps on learning. I have mutated perhaps, and veered a little bit off from my usual rythm and pace but the essence is all the same; bottom line.

correct mindset, proper MO and right MM... are just few of the basic essentials to the dance... I am a follower... humble and nimble.

wishing you all the lucks in this world to come your way

kind regards,
eddy
Success consists of going from failure to failure without loss of enthusiam
  • #4,151
  • Oct 27, 2011 6:23am Oct 27, 2011 6:23am
Good to hear. You trading today?
PIP'N
  • #4,152
  • Oct 27, 2011 6:35am Oct 27, 2011 6:35am
Quoting golferguy99
Good to hear. You trading today?
yes, and it has been an interesting dance... have been ridding the bulls since early this afternoon (oz time) until now... not see any tops yet... but still need to be nimble...


Success consists of going from failure to failure without loss of enthusiam
  • #4,153
  • Oct 27, 2011 6:53am Oct 27, 2011 6:53am
Yea, I took a long earlier on Euro for some pips. I am also long on the pound @1.5992 and long on gbp/jpy @ 121.41.
PIP'N
  • #4,154
  • Oct 27, 2011 6:58am Oct 27, 2011 6:58am
What is your main trading time? I trade from midnight pacific standard time to 8am pacific standard time.
PIP'N
  • #4,155
  • Oct 27, 2011 7:03am Oct 27, 2011 7:03am
Quoting golferguy99
What is your main trading time? I trade from midnight pacific standard time to 8am pacific standard time.
normally during london open... and often new york session too...
Success consists of going from failure to failure without loss of enthusiam
  • #4,156
  • Oct 27, 2011 7:07am Oct 27, 2011 7:07am
Looking to cut my position in the gbp/jpy. Will cut position at 121.16. Pound position is doing well.
PIP'N
  • #4,157
  • Oct 27, 2011 7:11am Oct 27, 2011 7:11am
Quoting golferguy99
Looking to cut my position in the gbp/jpy. Will cut position at 121.16. Pound position is doing well.
why??? when you catch a strong move... just ride it and go with the flow... until market will prove you're wrong... then time to make a graceful exit...

there's no reason for me to cut position... just yet...

again, it's just me... i keep on adding exposures...

....
Success consists of going from failure to failure without loss of enthusiam
  • #4,158
  • Oct 27, 2011 7:16am Oct 27, 2011 7:16am
That level on gbp/jpy would be for me the last resort. If it continues on I will hold on to position. it looks like it might continue on. Pound position is doing great.
PIP'N
  • #4,159
  • Oct 27, 2011 7:31am Oct 27, 2011 7:31am
Quoting golferguy99
That level on gbp/jpy would be for me the last resort. If it continues on I will hold on to position. it looks like it might continue on. Pound position is doing great.
you have a wrong mindset my friend... be carefull... you might be slaughtered along the way...

let's feel and pulse her... and follow... that's the best we can do... never predict... nor anticipate...

Success consists of going from failure to failure without loss of enthusiam
  • #4,160
  • Oct 27, 2011 7:33am Oct 27, 2011 7:33am
Why is my mindset wrong?? I am flowing with the markets and I feel the market is going long. You have always said that if you are wrong then to cut your losses short. Right?
PIP'N
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