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Discussion of the Forex Contest ADS Securities Forex Contest
forex_trader_339287
Membre depuis Jun 27, 2016
posts 11
Jul 31, 2016 at 11:34
Dear adssl,
As long as you don't implement some kind of drawdown or lot size rule the contest will not be faire. I believe the idea is to play fair, and show your trading skills just as you'd do with a real account. Nobody with a real account would start trading 200 lots, which is what the 1st ranked is doing, with a drawdown of 98%. Can you believe that 98% of drawdown, and he's still ranked 1st. I mean someone using that kind of "kamikaze" tactic should be out of the contest in the very first days, simply by implementing a rule such as if you have over a 60% drawdown you're stopped-out. Just brainstorming. Or by limiting the lot size of the trades.
In other words, I don't consider normal that after a few hours into the contest that guy already had a profit of over 400% on $50K bucks. If he/she applies that to a real account he/she'd be millionaire in a couple of days, but of course he/she'd never trade 200 lots - I believe that is what this is all about: being faire, and use your skills as if you were trading for real. I strongly believe you have to control that. I just dropped the contest the very first day - I'll never catch up a guy with a 400% profit after 4 hours because I'm not a kamikaze. I think I'm not the only one who thinks like this.
For the sake of fair play. Best regards.
As long as you don't implement some kind of drawdown or lot size rule the contest will not be faire. I believe the idea is to play fair, and show your trading skills just as you'd do with a real account. Nobody with a real account would start trading 200 lots, which is what the 1st ranked is doing, with a drawdown of 98%. Can you believe that 98% of drawdown, and he's still ranked 1st. I mean someone using that kind of "kamikaze" tactic should be out of the contest in the very first days, simply by implementing a rule such as if you have over a 60% drawdown you're stopped-out. Just brainstorming. Or by limiting the lot size of the trades.
In other words, I don't consider normal that after a few hours into the contest that guy already had a profit of over 400% on $50K bucks. If he/she applies that to a real account he/she'd be millionaire in a couple of days, but of course he/she'd never trade 200 lots - I believe that is what this is all about: being faire, and use your skills as if you were trading for real. I strongly believe you have to control that. I just dropped the contest the very first day - I'll never catch up a guy with a 400% profit after 4 hours because I'm not a kamikaze. I think I'm not the only one who thinks like this.
For the sake of fair play. Best regards.
forex_trader_345952
Membre depuis Jul 22, 2016
posts 11
Jul 31, 2016 at 11:55
riuryK posted:
Dear adssl,
As long as you don't implement some kind of drawdown or lot size rule the contest will not be faire. I believe the idea is to play fair, and show your trading skills just as you'd do with a real account. Nobody with a real account would start trading 200 lots, which is what the 1st ranked is doing, with a drawdown of 98%. Can you believe that 98% of drawdown, and he's still ranked 1st. I mean someone using that kind of "kamikaze" tactic should be out of the contest in the very first days, simply by implementing a rule such as if you have over a 60% drawdown you're stopped-out. Just brainstorming. Or by limiting the lot size of the trades.
In other words, I don't consider normal that after a few hours into the contest that guy already had a profit of over 400% on $50K bucks. If he/she applies that to a real account he/she'd be millionaire in a couple of days, but of course he/she'd never trade 200 lots - I believe that is what this is all about: being faire, and use your skills as if you were trading for real. I strongly believe you have to control that. I just dropped the contest the very first day - I'll never catch up a guy with a 400% profit after 4 hours because I'm not a kamikaze. I think I'm not the only one who thinks like this.
For the sake of fair play. Best regards.[/quote
I agree 100%. I was thinking the same from day one.]
Jul 31, 2016 at 12:08
riuryK posted:
Dear adssl,
As long as you don't implement some kind of drawdown or lot size rule the contest will not be faire. I believe the idea is to play fair, and show your trading skills just as you'd do with a real account. Nobody with a real account would start trading 200 lots, which is what the 1st ranked is doing, with a drawdown of 98%. Can you believe that 98% of drawdown, and he's still ranked 1st. I mean someone using that kind of "kamikaze" tactic should be out of the contest in the very first days, simply by implementing a rule such as if you have over a 60% drawdown you're stopped-out. Just brainstorming. Or by limiting the lot size of the trades.
In other words, I don't consider normal that after a few hours into the contest that guy already had a profit of over 400% on $50K bucks. If he/she applies that to a real account he/she'd be millionaire in a couple of days, but of course he/she'd never trade 200 lots - I believe that is what this is all about: being faire, and use your skills as if you were trading for real. I strongly believe you have to control that. I just dropped the contest the very first day - I'll never catch up a guy with a 400% profit after 4 hours because I'm not a kamikaze. I think I'm not the only one who thinks like this.
For the sake of fair play. Best regards.
well say
Membre depuis Jan 08, 2016
posts 276
Aug 01, 2016 at 05:46
riuryK posted:
Dear adssl,
As long as you don't implement some kind of drawdown or lot size rule the contest will not be faire.......... I think I'm not the only one who thinks like this.
For the sake of fair play.
Demo contests are NOT about fairness.
They are for advertisemnet purpose only !
A broker wants people to use their plattform, no more.
What you wish would be a Live Contest trading real money my the participants.
You can see in the history there were already two Live contests, but much less participants, of course.
Even there the result was questionable when TWO particpants created an account at myFXbook two weeks into the contest, and then traded for 3 days with ZERO drawdown to make +800% and win that contest.
VERY FISHY ! People suspected manipulation by the broker, who denied, of course.
You see, even in a real contest the fairness may be nonexistent.
Complexity is expensive, inefficient, and ineffective > Crocodile trading
Aug 01, 2016 at 05:48
riuryK posted:
Dear adssl,
As long as you don't implement some kind of drawdown or lot size rule the contest will not be faire. I believe the idea is to play fair, and show your trading skills just as you'd do with a real account. Nobody with a real account would start trading 200 lots, which is what the 1st ranked is doing, with a drawdown of 98%.
Well said this should be implemented by MYFXBOOK in starting of each contest some drawdown and lot size open... Since they are also getting traffic by trader.. Otherwise no one can play win with 10% draw down and most 90% succefulyy hitting target...
Also No of pair also suggested in start not after or middle of contest .
vivekrelish@
forex_trader_339287
Membre depuis Jun 27, 2016
posts 11
Aug 01, 2016 at 13:40
moldova75 posted:
why you think it's unfair ? was clearly stated that any method we can use ... if I lost his own money first and that is the problem voastra.in others compete lot is 999
Hi,
Well I do believe it's unfair because they're not gonna lose any money so that they use kamikaze tactics that nobody uses. I never learnt those tactics. What for? I don't wanna learn to trade that way only to win a contest - I just wanna learn to trade profitably for real. That's what I learnt.
I don't wanna participate in a contest that I know beforehand that I can't win. The victory isn't guaranteed anywhere, but at least you always have chances (and hope!) in a fair contest. With guys using these unruled tactics you do know you have no chances. Zero. For instance, would YOU really trade 200 lots in the very first trade in your real account? Do you know that the recommended balance for 1 standard lot is $10,000? So for $50,000 trading 5 lots would be a decent way to start - it is equivalent to a 1-2% risk. Therefore trading 200 lots equals 100-200% risk. Would you use that tactic in a real account?
You did have a point: the broker wants people to use his platform. After I saw this behavior I stopped trading the very first day. I read some more comments to my post, and I understood that a couple of pleople also dropped the contest very soon. This kind of no-regulation is actually discouraging people to compete and to use the platform. Do a fair contest, and you will have everyone trading on your platform on a daily-basis. That is my take on that.
Kind regards.
Aug 01, 2016 at 13:46
The whole point of a contest is to enable unders to believe they have a chance to compete, if you feel that you want to compete then compete, but if you want to play the whole game alone, then just go for a real account and play the whole game alone, what is the point, to try to boast about a great EA, when others can't enjoy the competition? What is the point of an EA that can't be used on real account, otherwise why one would use it over here?
Never Doubt what is possible.
forex_trader_29148
Membre depuis Feb 11, 2011
posts 1768
Aug 01, 2016 at 14:23
anybody here on the contest that are trading live money acc with the same strategy than they used or are using on the contests,may be other contests too,like to see what you can do with real dough..
Membre depuis Jan 08, 2016
posts 276
Aug 02, 2016 at 06:14
riuryK posted:
Well I do believe it's unfair because........blablabla.....irrelevant blablabla......
Nobody is forcing you to participate, Carlos !
Just trade real mony with a profit on a real account.
No need to whine about something you can't control.
😇
Complexity is expensive, inefficient, and ineffective > Crocodile trading
Membre depuis Jun 20, 2016
posts 3
Aug 02, 2016 at 06:14
i trade like real money for this contest but kamikaze tactics is god for demo contest
Membre depuis Jan 08, 2016
posts 276
Aug 02, 2016 at 06:15
riuryK posted:
Well I do believe it's unfair because they're not gonna lose any money so that they use kamikaze tactics that nobody uses............
So what ?!
This is Demo and does not matter.
Just trade your real account and don't waste time on this.
😇
Complexity is expensive, inefficient, and ineffective > Crocodile trading
Membre depuis Dec 11, 2015
posts 2
Aug 02, 2016 at 06:19
riuryK posted:moldova75 posted:
why you think it's unfair ? was clearly stated that any method we can use ... if I lost his own money first and that is the problem voastra.in others compete lot is 999
Hi,
Well I do believe it's unfair because they're not gonna lose any money so that they use kamikaze tactics that nobody uses. I never learnt those tactics. What for? I don't wanna learn to trade that way only to win a contest - I just wanna learn to trade profitably for real. That's what I learnt.
I don't wanna participate in a contest that I know beforehand that I can't win. The victory isn't guaranteed anywhere, but at least you always have chances (and hope!) in a fair contest. With guys using these unruled tactics you do know you have no chances. Zero. For instance, would YOU really trade 200 lots in the very first trade in your real account? Do you know that the recommended balance for 1 standard lot is $10,000? So for $50,000 trading 5 lots would be a decent way to start - it is equivalent to a 1-2% risk. Therefore trading 200 lots equals 100-200% risk. Would you use that tactic in a real account?
You did have a point: the broker wants people to use his platform. After I saw this behavior I stopped trading the very first day. I read some more comments to my post, and I understood that a couple of pleople also dropped the contest very soon. This kind of no-regulation is actually discouraging people to compete and to use the platform. Do a fair contest, and you will have everyone trading on your platform on a daily-basis. That is my take on that.
Kind regards.
i agree!
Membre depuis Jan 08, 2016
posts 276
Aug 02, 2016 at 06:27
rob559 posted:
anybody here on the contest that are trading live money acc with the same strategy than they used or are using on the contests ?
Definitely !
Most of those losing 100% in a short period of time do.
Also those who made little gains or little losses do.
Then many made +100% and more but took too much risk and ended up with -100%. I don't think those were trading like on a real account. But maybe I'm wrong on this ?!
Time for a broker to come out with a Live Contest !
😎
Complexity is expensive, inefficient, and ineffective > Crocodile trading
