Discussion of the Forex Contest FX Choice Forex Contest

bkforex posted:
why not just ban all EAs or start 2 competitions, one for humans , one for robots. It's not fair for humans to trade against robots.

yea. I like and support that idea.

emiliano74 posted:
but to make 1000% have used a lever to suicide.
it went well, but you risked a lot, you're a crazy man!Do not come to a year if you continue like this, trust me.

+1 absolutely.

Good luck to all!😳

So another EA contest coming up? Oh my ...

To win the competition, play it like poker.....i.e all in at 20.00 lot size on USD/CAD which require USD10,000 margin....pip value is at around USD158.77 😈 .........if no luck, then you will be out of the competition 😁....BUT there will always be another competition somewhere to try your luck again 😎

why stop there? what you guys really want is to go back to placing orders by telephone with pencil and paper?

240Z posted:
why stop there? what you guys really want is to go back to placing orders by telephone with pencil and paper?

Now, that would most certainly make a very unique and interesting contest/competition! 😄😀

lol...

RahmanSL posted:
To win the competition, play it like poker.....i.e all in at 20.00 lot size on USD/CAD which require USD10,000 margin....pip value is at around USD158.77 😈 .........if no luck, then you will be out of the competition 😁....BUT there will always be another competition somewhere to try your luck again 😎

I see. So, you will be out fairly fast. :) :D

I see no logical way to make 300% return in 20 trading days, unless there was another "black swan" or "black thursday" that favours your position. The truth is most of us will probably OVERTRADE.

boa sorte a todos, quero tenta chega entrei os 100 melhores ,

tineg posted:

RahmanSL posted:
To win the competition, play it like poker.....i.e all in at 20.00 lot size on USD/CAD which require USD10,000 margin....pip value is at around USD158.77 😈 .........if no luck, then you will be out of the competition 😁....BUT there will always be another competition somewhere to try your luck again 😎

I see. So, you will be out fairly fast. :) :D

Lordy-lord..Nope! I will not be doing that but will be trading my normal system & style as in my live trading accounts 😎..
.....matter of fact, I will be testing the broker's (FXChoice) trading platform on performances for execution speed, stability, and spread. If all are satisfactory, I might then go on a live account with them and make them my 3rd live account broker 😄.
FXChoice has already assigned me a personal accounts manager and the speed in which they do that is a plus 'cause it shows they really looking for new potential clients....and reviews and feed-backs on this broker is quite good.

So, we shall see what happens at the end of the competition 😁😎

240Z posted:
why stop there? what you guys really want is to go back to placing orders by telephone with pencil and paper?

😁

Ya ban EA's cuz I don't have a profitable one! Ban all those fancy indicators cuz I don't know how to use them! Ban candlestick charts cuz I don't know how to read them! Ban online trading platforms cuz I have a slow internet connection! Ban scalping and day trading cuz I prefer long term trading and don't have time to watch charts all day long! Let's get our price data by mail once a week and draw our own charts, then it will be 'fair'!

But seriously people....obviously there are some good ones, but pretty much every EA I've ever tried out was a complete disaster. That last contest being the exception, most of the time the guys using EA's might start off well but inevitably the robot will encounter market conditions that are terrible for it's trading method and it will destroy the account.

Oh and by the way...I don't think we have an answer yet on what constitutes a 'commercial robot' and how the broker will know the difference?

bkforex posted:
why not just ban all EAs or start 2 competitions, one for humans , one for robots. It's not fair for humans to trade against robots.

Yes fair deal. EA should be banned. There is no chance for manual with robot.

i need that money.i should got ittttttttttttttttt.

marcosantonio posted:
boa sorte a todos, quero tenta chega entrei os 100 melhores ,

hehe... :) Great success to you too Marcos. You deserve to win.

henrolah posted:
I see no logical way to make 300% return in 20 trading days, unless there was another "black swan" or "black thursday" that favours your position. The truth is most of us will probably OVERTRADE.

300% in 20 days? Does not need a black swan event at all. Hard yes, very risky yes, prone to blow up, yes, but by no means a black swan requiring feat. It's 'only' 7.5% per day, compounded -- Returns are not that predictable or consistent in reality of course, but the point is, 7.5% per day for 20 days, in aggregate, is not that inconceivable.

To explore this a bit more: 7.5% in one day only requires for example catching, every day, a single trade capturing a...
7.5% move at 1:1 (= no!!!) leverage (!)
3.75% move at 2:1 leverage (pretty low leverage still)
1.875% move at 4:1 leverage
0.9375% move at 8:1 leverage (leverage getting high)

Now that's only one trade -- consider that you're probably going to place more than one trade a day (a couple, not overtrade per se), which would allow you to further keep your trade size/leverage in check, finally consider that some securities (crude oil) for example rarely move less than 2% in a day (lately usually about 5% on a typical day and sometimes as much as 10%), then you can start to see that it's actually not that inconceivable to return 7.5% a day for 20 days in aggregate (=325% total net return). So: Would it be hard? Yes. But does it require a black swan event? Not really IMHO. :)

edit: Sorry had the math slightly wrong originally so redid it (I originally reported 300% gross return = 200% net, which takes about 5.7% compounded to achieve.)

jdwbryan posted:

240Z posted:
why stop there? what you guys really want is to go back to placing orders by telephone with pencil and paper?

😁

Ya ban EA's cuz I don't have a profitable one! Ban all those fancy indicators cuz I don't know how to use them! Ban candlestick charts cuz I don't know how to read them! Ban online trading platforms cuz I have a slow internet connection! Ban scalping and day trading cuz I prefer long term trading and don't have time to watch charts all day long! Let's get our price data by mail once a week and draw our own charts, then it will be 'fair'!

But seriously people....obviously there are some good ones, but pretty much every EA I've ever tried out was a complete disaster. That last contest being the exception, most of the time the guys using EA's might start off well but inevitably the robot will encounter market conditions that are terrible for it's trading method and it will destroy the account.

This is the most hilarious comment, I cant stop laughing :D but in a way you have a point :D :D