Performance Based Rankings? | Forex Factory

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Performance Based Rankings?

  • #1
  • First Post: Jul 21, 2012 8:04am Jul 21, 2012 8:04am
I was just thinking about this, and I think its been brought up a couple times before. Isn't it time we had performance based rankings? The vouch system is fine and all, but it seems, with the Trade Explorer integration this site has(which is excellent btw), performance based rankings seems like a no brainer?

I think a performance based rank system should be SIMPLE, something even a noob could understand without having to worry about Sharpe ratios, risk of ruin, bla bla, etc etc.

What about simple ranks based on REALIZED profits, on a live account, that can be verified through the Trade Explorer.

Something like:

2k realized profit: Rank 1
5k realized profit: Rank 2
10k realized profit: Rank 3
50k realized profit: Rank 4
100k realized profit: Rank 5
250k realized profit: Rank 6
1 million realized profit: Rank 7
10 million realized profit: Rank 8
100 million realized profit: Rank 9
1 billion realized profit: Rank 10



What do you think?
  • #2
  • Jul 21, 2012 9:19am Jul 21, 2012 9:19am
Quoting Aldente
I was just thinking about this, and I think its been brought up a couple times before. Isn't it time we had performance based rankings? The vouch system is fine and all, but it seems, with the Trade Explorer integration this site has(which is excellent btw), performance based rankings seems like a no brainer?

I think a performance based rank system should be SIMPLE, something even a noob could understand without having to worry about Sharpe ratios, risk of ruin, bla bla, etc etc.

What about simple ranks based on REALIZED profits, on a live account,...

it should be based on profit percentage or pips made not on realized profit
  • #3
  • Jul 21, 2012 9:30am Jul 21, 2012 9:30am
You got a flaw in your logic there. You can scrap all ranks starting at #2 since the brokers used for the following ranks are not supported by tradeexplorer.
  • #4
  • Jul 21, 2012 9:31am Jul 21, 2012 9:31am
Quoting hamad00
it should be based on profit percentage or pips made not on realized profit
Perhaps, but there should be a minimum profit, I don't think anyone is interested if someone makes $10 on a $100 dollar account, even though its 10% profit, its not the same as someone making 10k on a 100k account.
  • #5
  • Jul 21, 2012 9:33am Jul 21, 2012 9:33am
Quoting unknown4x
You got a flaw in your logic there. You can scrap all ranks starting at #2 since the brokers used for the following ranks are not supported by tradeexplorer.
Not sure what you mean. You cant make a 10k profit on brokers supported by trade explorer?
  • #6
  • Jul 21, 2012 9:34am Jul 21, 2012 9:34am
Try to make a constant 10k a month on a metatrader broker. It will just not happen.
  • #7
  • Jul 21, 2012 9:39am Jul 21, 2012 9:39am
Quoting Aldente
I was just thinking about this, and I think its been brought up a couple times before. Isn't it time we had performance based rankings? The vouch system is fine and all, but it seems, with the Trade Explorer integration this site has(which is excellent btw), performance based rankings seems like a no brainer?

I think a performance based rank system should be SIMPLE, something even a noob could understand without having to worry about Sharpe ratios, risk of ruin, bla bla, etc etc.

What about simple ranks based on REALIZED profits, on a live account,...
and what use does that have? You gonna trade better with that information?
If you want a performance ranking, then why don't you go to zulutrade.com
  • #8
  • Jul 21, 2012 9:53am Jul 21, 2012 9:53am
Quoting Custos
and what use does that have? You gonna trade better with that information?
If you want a performance ranking, then why don't you go to zulutrade.com
Well why not? We already have trade explorers, what would be the downside?

Realized profit is a very simple metric, that anyone can understand, and is actually difficult to manipulate. And really, it is the BOTTOM LINE. Doesn't need to be complicated. Just being able to see something next to a guys name, that says, "Ok, this guy has actually made some money, on a live account" would mean something to me, and perhaps others. In fact, it would mean more to me than +10v(and I have no problem with the vouch system either, there are lots of +10v guys I have respect for).
  • #9
  • Jul 21, 2012 10:00am Jul 21, 2012 10:00am
Quoting Aldente
Well why not? We already have trade explorers, what would be the downside?

Realized profit is a very simple metric, that anyone can understand, and is actually difficult to manipulate. And really, it is the BOTTOM LINE. Doesn't need to be complicated. Just being able to see something next to a guys name, that says, "Ok, this guy has actually made some money, on a live account" would mean something to me, and perhaps others. In fact, it would mean more to me than +10v(and I have no problem with the vouch system either, there are lots of +10v...


That is correct but as i stated you will not find those guys with MT based brokers.


Also none that i know of would disclose his actual account metrics to public. Not a single one. Getting most profitable (for a living and not out of boredom with cents) traders to disclose something about their money is not going to happen. This is more something the dreamers do to up their egos. There are quite a few high networth traders here. Just read between the lines, check their chart screenshots from time to time which don't show anything but subtle clues as to e.g. what broker the guy uses (which happen to have 7 digit entry amounts) etc. Read through their posts. They will not disclose anything at all about themselves especially when it comes to account balances and the like.
  • #10
  • Jul 21, 2012 10:08am Jul 21, 2012 10:08am
Quoting unknown4x
That is correct but as i stated you will not find those guys with MT based brokers.


Also none that i know of would disclose his actual account metrics to public. Not a single one. Getting most profitable (for a living and not out of boredom with cents) traders to disclose something about their money is not going to happen. This is more something the dreamers do to up their egos. There are quite a few high networth traders here. Just read between the lines, check their chart screenshots from time to time which don't show anything but subtle...
Good points. Maybe not a rank system but just a single rank or badge, minimum 10k realized profit over any period of time, just SOMEthing to demonstrate that you actually can make money doing this.
  • #11
  • Jul 21, 2012 10:20am Jul 21, 2012 10:20am
I agree with you the performance based ranking is a good indicator whether this person is really making profit

but would not you be more interested in someone who make 1000 $ out of 5000$ than someone who makes 1000$ out of 100,000 $ ?
  • #12
  • Jul 21, 2012 10:26am Jul 21, 2012 10:26am
Quoting hamad00
I agree with you the performance based ranking is a good indicator whether this person is really making profit

but would not you be more interested in someone who make 1000 $ out of 5000$ than someone who makes 1000$ out of 100,000 $ ?
Not so much, I would just be interested in whether somebody is actually making money, as opposed to losing money, with amounts that mean something. This isn't to decide whether I want to invest money with them, I just wanna know whether they are full of crap or not.
  • #13
  • Jul 21, 2012 1:54pm Jul 21, 2012 1:54pm
enricofx was doing great over 1000%...then all of a sudden he disappeared?

what happened?
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #14
  • Jul 21, 2012 2:15pm Jul 21, 2012 2:15pm
Make a guess:

a. He converted to buddhism, now lives among his zealot friends totally despises money and not into trading anymore.
b. His talents were recognised by an investment group, he was offered a nine figures account to trade and does not have time to post here anymore.
c. He joined the ever growing camp of margin callers. Boom & bust. Live fast, die young. Woo-hoo! His last words were: "this sucker MUST reverse soon"

Quoting pemully
enricofx was doing great over 1000%...then all of a sudden he disappeared?

what happened?
forget about tomorrow, just steal away into the night
  • #15
  • Jul 21, 2012 2:25pm Jul 21, 2012 2:25pm
Quoting spekitox
Make a guess:

a. He converted to buddhism, now lives among his zealot friends totally despises money and not into trading anymore.
b. His talents were recognised by an investment group, he was offered a nine figures account to trade and does not have time to post here anymore.
c. He joined the ever growing camp of margin callers. Boom & bust. Live fast, die young. Woo-hoo! His last words were: "this sucker MUST reverse soon"
Lol!! he had the smoothest of equity curves, never 'martingaled' and risked 3%. his win/loss ratio was 1.3:1. with 65% hit rate ...he faded spikes /countertrended.

so I would like to think no.3 is out of question ....maybe no.2
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #16
  • Jul 21, 2012 2:38pm Jul 21, 2012 2:38pm
I would love to see more ppl use the Trade Explorers.

I use it daily to monitor my performance, even more than checking my actual MetaTrader.

I like the idea of a ranking system, but there would have to be a minimum or scale based on % profit vs account balance.

Jeff
- I'm ranked #9 this year on my trading acct so far
  • #17
  • Jul 22, 2012 4:24am Jul 22, 2012 4:24am
I was greatly enlightened with the way you had shared this valued information. However, you could be really knowledgeable about it.
  • #18
  • Jul 22, 2012 4:29pm Jul 22, 2012 4:29pm
Quoting webjeff
I'm ranked #9 this year on my trading acct so far
And very nice performance there Jeff I think trading can be hard enough sometimes without having a forum full of people looking over your shoulder so well done and all the best for your trading future.
Nothing worth having is easy.
  • #19
  • Jul 22, 2012 6:45pm Jul 22, 2012 6:45pm
Quoting Aldente
I don't think anyone is interested if someone makes $10 on a $100 dollar account, even though its 10% profit, its not the same as someone making 10k on a 100k account.
Why isn't it the same?

With that logic I suppose we could say that no one is interested in making 10k because they have a 1M account.

Risk is risk

Start at step one and hope/dream/pray that you go further no matter where you started.
When the Joker is in the deck.. fear not and play it well
  • #20
  • Jul 25, 2012 4:31am Jul 25, 2012 4:31am
Quoting Aldente
I was just thinking about this, and I think its been brought up a couple times before. Isn't it time we had performance based rankings? The vouch system is fine and all, but it seems, with the Trade Explorer integration this site has(which is excellent btw), performance based rankings seems like a no brainer?

I think a performance based rank system should be SIMPLE, something even a noob could understand without having to worry about Sharpe ratios, risk of ruin, bla bla, etc etc.

What about simple ranks based on REALIZED profits, on a live...
I don't think that the amount of money realized should be the criteria. That is because the signal ‎producer might use huge sizes. Drop downs and average profit (in pips) should be the criteria for ‎ranking.‎
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