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Do you think you can turn $200 into $400 in six weeks?

Professor53
Jun 16 2014 at 04:44
795 posts
Oh my...

Click on my Name to see My Live Charts and Bio.
Professor53
Jun 16 2014 at 06:03
795 posts
I put up my little demo... kind of on reserve settings for the 2 weeks to one month contest. 2 of my home made EAs.

Click on my Name to see My Live Charts and Bio.
Silverthorn (Silverthorn)
Jun 16 2014 at 06:09
268 posts
First out of the blocks and the Professor is in the lead!!

You can't spend open trades.
CodeMonkey (CodeMonkey)
Jun 16 2014 at 06:30
182 posts
Nice. Good job!

I'm a little annoyed at myfxbook at the moment. My stats aren't updating for some reason, and I double checked the settings.
I emailed support so it should get cleared up. Either way, i'm still trading and will update as soon as they figure it out.

No excuses on my end. Just letting you know.

Viva La Puerto Rico!
Silverthorn (Silverthorn)
Jun 16 2014 at 06:34
268 posts
If you are using the FTP update try switching to the EA. FTP stopped updating on Jun 11 for a number of my accounts.

You can't spend open trades.
dchara01 (dchara01)
Jun 16 2014 at 06:48
126 posts
@CodeMonkey
CodeMonkey posted:
dchara01 posted:
As for the 2nd point, I cannot agree that there is an actual difference, between the two accounts... Since you are not challenging for the higher ending balance, but for the highest ending % gain with the less % drawdown, using trades that are meaningful for which later will be able to provide explanations... the absolute numbers, ie ending balance, amount at risk and so on have nothing to do with the winner!


I guess I agree partially with your thinking on that. It's just that depending on the persons trading strategy, it can have a fairly large difference in the outcome.

If for example, I were to open 5 lots on a smaller account, and the market went against it for a while, the smaller account could be in danger of being blown where as the larger account would not unless it went twice as far into the negative profits. Basically 'IF' a small account and a large account opened the same trades and the same sizes, the larger account is at a clear advantage.

If I'm incorrect, please clarify this for me. Thank you. - David


Your example is right, however the equal position size on different account balance, means different risk/reward %.
In other words, if we make exactly the same trade in two accounts one of them being $5k and the other $10k, the position size of the $5k account should be 1/2 of the position size of the $10k. This way the all statistics for both accounts will be the same, same drawdown %, same gain/loss %, etc.

Normally, before opening a trade, the trader decides the stop loss level and depending on the % of the account's balance that he wants to risk on that specific trade, he adjusts the position size.

That's why I pointed out, that since in this specific competition we don't care about the final absolute balance of the accounts, but we only compare %gain and %drawdown, the actual account balance is irrelevant.*

*please keep in mind that there could still be a difference, however one that results from a psychological side. As I pointed out in one of my previous post to Master_Kiwa, when we are talking about real accounts with real money the account balance does matter, from psychological point though. Most traders would risk 50% or even 100% of their account on single trade if the account balance if the balance is $100, but there are very few out there feeling comfortable with risking 100% of a $100k account. A lot of scammers often open $10 real accounts and with a little luck they reach +500% gain in a month or less, they hide the account balance and they are advertizing themselves a gurus... However, I've never seen such an account though with $100k starting balance!!!

Anyway in our case, there is no such psychological aspect, since both accounts have a considerable amount of $ deposited.

Gabriel Urse
Pureprofitfx
Jun 16 2014 at 06:48
38 posts
TheLastBear posted:
I am wondering how many of you think they can turn $200 into $400 in six weeks? How would go about doing that?

I can double the profit in 6 months, but you need at least 1000 USD, in order to have the maximum 25% risk from your balance!

CodeMonkey (CodeMonkey)
Jun 16 2014 at 08:11
182 posts
Silverthorn posted:
If you are using the FTP update try switching to the EA. FTP stopped updating on Jun 11 for a number of my accounts.


Thanks for the info on that. Yeah I was using the publishing function.
Ok Ill see what support says in the morning, and if they haven't gotten back to me, ill set it up again with ea updates. Thanks for the heads up on that.

- David

Viva La Puerto Rico!
CodeMonkey (CodeMonkey)
Jun 16 2014 at 09:18
182 posts
Professor53 posted:
I put up my little demo... kind of on reserve settings for the 2 weeks to one month contest. 2 of my home made EAs.


Very nice. You're up almost 2% in a matter of hours. Very nice.

Viva La Puerto Rico!
MyFxTrader
Jun 16 2014 at 09:59
170 posts
CodeMonkey posted:
Professor53 posted:
I put up my little demo... kind of on reserve settings for the 2 weeks to one month contest. 2 of my home made EAs.


Very nice. You're up almost 2% in a matter of hours. Very nice.


Are you sure? Looks like its in more than 50% drawdown now..

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