Contest - fxandme (by fxandme) Quick Stats
Gain: -71.64%
Drawdown: 96.59%
Pips: 906.1
Trades: 56
Won:
Lost:
Type: Demo
Leverage: 1:500
Trading: Unknown

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Contest - fxandme Discussion
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fxandme

Member Since Jan 30, 2010  17 posts fxandme (fxandme) Mar 06 2011 at 05:33
No matter how much I try not to trade NFP , I always end up trading and loosing ... :-(

Never Give up !!
Tradingcompany

Member Since Jan 06, 2011  245 posts Mr Nicky (Tradingcompany) Mar 06 2011 at 07:18
Hheehheheehe, sorry, about that, next time the best way to avoid it is not to switch on ur trading laptops

Knowledge Is Power
RahmanSL

Member Since May 08, 2010  209 posts RahmanSL Mar 06 2011 at 09:53
I see that the contest leader, oldlove, has been trading with massive lot sizes ranging from 100 to 1,000 giving him a huge profit edge over all the other competitors.
Yes, trading such massive lot sizes can be extremely dangerous, especially if the market move against you, but on those occasions (and if you know what you doing) when the market is more or less predictable, scalping for profits can be hugely profitable as demonstrated by contest leader trading strategy who simply made 21 trades to achieve 67.92% profits.

The second contest leader, gitfreak, demonstrated “quantity trading” with 730 trades to achieve 23.22% profits.

On the extreme “quantity trading” are those who made 1,591 trades for 34.02% profits gain, 1348 trades for 25.58% gains, or 556 trades with a loss of -75.51%. LOL

For competition, I think one has to trade smart and not in bulk to achieve so little profits.

I see that quite a lot of competitors have not even made one single trade so far.


RahmanSL

Member Since May 08, 2010  209 posts RahmanSL Mar 06 2011 at 10:18
Made mistakes in my earlier post:

“…contest leader trading strategy who simply made 21 trades to achieve 67.92% profits….”
Should be: “…contest leader trading strategy who simply made 21 trades to achieve 453.53% profits..”


I think I should add that second place leader, gritfreak, has to make 730 trades (that's 709 more trades than oldlove) to get his 447.16% profit gains. But I think he is probably using an EA which makes volume trades for him.

fxandme

Member Since Jan 30, 2010  17 posts fxandme (fxandme) Mar 06 2011 at 11:23

RahmanSL posted:
    Made mistakes in my earlier post:

“…contest leader trading strategy who simply made 21 trades to achieve 67.92% profits….”
Should be: “…contest leader trading strategy who simply made 21 trades to achieve 453.53% profits..”


I think I should add that second place leader, gritfreak, has to make 730 trades (that's 709 more trades than oldlove) to get his 447.16% profit gains. But I think he is probably using an EA which makes volume trades for him.


If you see last contest , the guy who got 3rd position took 3 trades to get 1000% .

Trading news is not my trading style, just that I got into greed to change my 90% to 100% before the week end. Tried scalping but ended up loosing even more.


All the best to everyone for this contest.


Never Give up !!
fxandme

Member Since Jan 30, 2010  17 posts fxandme (fxandme) Mar 06 2011 at 11:29

Tradingcompany posted:
    Hheehheheehe, sorry, about that, next time the best way to avoid it is not to switch on ur trading laptops


Tried that too ... Actually I live in UAE where Friday and Saturday are the weekend. So it very difficult to avoid. Other days I am busy at office so these economic release dont bother me at all.


Never Give up !!
RahmanSL

Member Since May 08, 2010  209 posts RahmanSL Mar 06 2011 at 12:07
Yes, indeed, I seeeeeeeeeee...........3 carefully placed trades with 100, 200, & 500 lot size and last competition 3rd place winner is ahead by almost 1,000%.

So, does this confirm what I said about 'trading smart' instead of making over 1,000 trades and yet make smaller profits?

I hope Newbies here realize that they have a usd100,000 account and, this being a competition and all where time is of the essence, you just don't make 0.01 lot size trades; yah!

But then, don't try to emulate the competition leaders' trading style and simply go in blindly with 100 to 1,000 lot size trades either as, more than likely if you do not know market movements, your account can and will be wiped out with just one single trade.

All the best to all.

fxandme

Member Since Jan 30, 2010  17 posts fxandme (fxandme) Mar 14 2011 at 14:35
missed GU TP by .00001 pip ... :-( ..

Never Give up !!
fxandme

Member Since Jan 30, 2010  17 posts fxandme (fxandme) Mar 16 2011 at 07:34
Whats wrong, I am rank 10th but https://www.myfxbook.com/contests/trading-championship-february-2011/3 headline says I am rank 1362. Also in Today's Biggest Movers , my rank shows 1362 ???

Never Give up !!
fxandme

Member Since Jan 30, 2010  17 posts fxandme (fxandme) Mar 16 2011 at 07:35
ok seems like a temporary glitch .. All well now ... :-) ..
All the best everyone..

Never Give up !!
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