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So the contest has just began...

DoubleTrap (ForexSeeker)
Apr 28 2010 at 00:48
814 投稿
Well U haven't use FXDD before ? FXDD is the only broker in US that do allow to hedge.

You should try out the demo first before thinking so much question. 😎
Information is Gold when come to organised.
Casey Lim (bestforexea)
Apr 28 2010 at 02:40
75 投稿
FXDD recently announce that they have increase their max leverage to 1:200.

I guess FXDD found a way to around NFA rules. If not they would not have allowed hedging and changing their leverage to 1:200.

FXDD has lost a lot of customers I believe because of NFA rules and they have worked around these so call 'customer losing' rules. I guess now they are trying to promote it once again with this contest using their work around rules.

Nothing to lose but to test out FXDD on this contest. If it sucks then myFXBook will have to JV with another broker to come up with the next contest.

I do not think that this contest by myFXBook is going to be the first and the last. Unless I am wrong.

The key here is... NOTHING TO LOSE. Maybe only time and effort to participate in this contest... 😀
pc8multifx (pc8multifx)
Apr 28 2010 at 02:47
879 投稿

'Well U haven't use FXDD before ? FXDD is the only broker in US that do allow to hedge.'
 


If this is true than they are still unregulated in USA, even they announced years ago to do it.... a reason more to avoid them when it comes to trade real money 😎

I demoed with them in the past, bad spreads, not competitive anymore, platform freeze etc.
They are missing the fact that times(and spreads😝) have changed in the forex world

Anyway, I agree with Casey: nothing to lose :-)
Lion Asset Management (WhyLose)
Apr 28 2010 at 19:51
102 投稿
I wonder if they'll increase the prize next time? https://goo.gl/uMzZ.
Time is more valuable than money. You can get more money, but you cannot get more time.
Casey Lim (bestforexea)
Apr 29 2010 at 00:53
75 投稿
Erm... the link you posted lead me to a page that does not exist?

Anyway, I hope so... more incentive for me to test out ideas.

I guess the size of the prize depends on which broker myfxbook will go with next after fxdd no? Or fxdd has a contract to work with myfxbook for x number of period? Or fxdd has the best prize vs arrangment around?

Lion Asset Management (WhyLose)
Apr 29 2010 at 04:46
102 投稿
Odd. It seems DailyFX moved the page. Anyway, they run a competition regularly for $25K. A few more stipulations - have to have an FXCM funded account - but I think you still use a demo. Google it and you'll find it probably.
Time is more valuable than money. You can get more money, but you cannot get more time.
T. Buitendyk (tbuitendyk)
May 01 2010 at 23:20
141 投稿
Had some time this weekend, and had added another machine to our trading network anyway, so figured I would give this contest a try with the Volatility Trader. Of course, trading only $1,000 is five times less than the minimum that we trade client accounts, so there is a good possibility it will go bust immediately, as we can easily draw down that amount, especially at the 1:4 MM Volatility Trader will be using.

Anyway, it should be amusing to see if such a small account lasts long enough to make it through the first few days or weeks. Also, it will be interesting to compare the kind of execution we get with that provided by FXDD.

By the way, if I could change one thing about this contest it would be to make the account size more 'reasonable'. I would consider a real world investment to be at least $5k and really, to work properly with the Volatility Trader at the kind of return/risk ratio necessary to win a contest like this, $10k accounts would be better for us, with a better chance of compounding the account, etc.
DoubleTrap (ForexSeeker)
May 02 2010 at 04:04
814 投稿
If reasonable, that will not be a contest. Is the extreme environment of challenge where you have to use the extreme course of action to climb to the top. The purpose of contest is to draw more greedy feeling of a person as the contest is like a gambling where you can easily climb to the top on first month and easily fall on the next month. But it do help a great times draw in more customer to play forest using extreme setting while the broker will earn more from what giving out to the contest.

I think the next contest should have a grand prize every 3 month for contestant that continues to stay at top 3.
This will show is not just luck, by a stable good tactic of long term trading.

The good thing about myFXbook contest is that you can keep track your record and see how good your skill by of semi auto EA or fully auto EA.
Information is Gold when come to organised.
AussieTrader
michigansurveys
May 02 2010 at 14:00
31 投稿
I agree with doubleTrap. One month of forward testing is not enough time to see if a system works. Anyone can get get lucky in a month, but a real system is one that pays consistantly over time.
James_Bond
May 02 2010 at 14:19
556 投稿
michigansurveys posted:
    I agree with doubleTrap. One month of forward testing is not enough time to see if a system works. Anyone can get get lucky in a month, but a real system is one that pays consistantly over time.

Yes and no. Although one month in general is not enough to determine if the system works well, after a one month period, we should clearly see if there was a system invloved or not, by analyzing the trading activity.
fiftylots
May 03 2010 at 07:33
5 投稿
I think the maximum % gain in this contest will be in the range 500% - 2000% and to attain that number one will have to have luck on his side. On the other hand, these numbers cannot be achieved without a system, because of the duration of the contest - 20 trading days is quite a long period to survive on pure luck alone. I agree that the trading style will have to be aggressive, but a good system and proper MM will also be needed 😄. That's why I think the starting balance $1000 is just the right amount for this contest.


Regards,

Fifty


aj9015121 (aj901512)
May 03 2010 at 08:33
60 投稿
Yes, I agree.
Good luck to you all! (Not too much though, I don't really want you to win 😇)
DDmaster (DDmaster)
May 03 2010 at 13:53
43 投稿
how do you know if you are registerd ?

is there a list we can see .....

Our greatest weakness lies in giving up, the certain way to succeed is always to try just one more time.
Lion Asset Management (WhyLose)
May 03 2010 at 21:30
102 投稿
I just noticed in my FXDD account registered for the competition in Connection Status - bottom right on the platform - it's just gone 'Account Disabled' - anybody know what may have caused this please? Or is anyone else experiencing the same issue? I cannot log in. Checked the obvious.
Time is more valuable than money. You can get more money, but you cannot get more time.
Ethan (Staff)
May 03 2010 at 21:32
1401 投稿
Yes, it's normal - accounts are disabled by FXDD until the start of the contest, in order to have the same starting point for all of the accounts.
Ethan (Staff)
May 03 2010 at 21:33
1401 投稿

davydevaux2 posted:
    how do you know if you are registerd ?

is there a list we can see .....


If you've filled in the details for the contest, then you're registered. 😄
The complete contestants list will be available as soon as the contest starts.
MyLiveEA
May 04 2010 at 00:41
68 投稿
Sorry but Demos are really horrible for this kind of contests. I could have joined you all but it would have been no contest so I bailed. I have EAs that will make over $25k per day on Demos , everything works on Demos that's why it should never be used as a contest. In one month with compounding I can make over 2 million dollars on Demos, so what? try it on a real live account where you have real time data feed with all the crap that goes with it and try to make ever $1000 in a month . You won't be able to..Plus I am amazed that someone is actually putting up money for this..

Now I have a challenge it's different because this one matters this one is a real account when you lose this one it's real money taken from you. This is the only kind of challenge that means anything when it comes to trading. There is such a large gap between a real account and a demo account. I could write all day on it.

So here's my challenge find a sponsor that is willing to put up $20,000 for the winner.
All contestants will have their account verified by the broker and would need to see at least one withdrawal on the account.
The challenge will start with $10,000 and run for a full month. Here's my challenge if I lose I will reward the winner with a extra $5000 and if I win I simply keep the $25,000 sounds fair.

This contest will accomplished 2 major issues.
1. It will show the actual difference between a real money account and a demo account
2. This is the one I love..It will show if these people that throw up crazy stats saying they are live and real with 2000% after a few months well we will see when they enter if they are legit.
Now lets see the real traders join in on this and show these demo traders what real money accounts are.

Thanks
Randy
DoubleTrap (ForexSeeker)
May 04 2010 at 03:36
814 投稿
Sound like an abrigate EA. So you can easily win the Contest in FXDD.

Since you so sure of what you said in above statement. Why not you setup a 1000 demo FXDD, and just show us how you able make million in one month.

Let see you really have a genius EA or just bombastic EA in FXDD.

Information is Gold when come to organised.
MyLiveEA
May 04 2010 at 03:47
68 投稿
Why? I do not do useless things just to show I'm correct. I know I am . I only trade for money I don't even trade demo when I am trying out a system. With me everything is live or I don't trade it..pretty simple..I don't like to waste my time if it makes money live then I keep it if not it goes in the trash. The demo is a suckers game which is designed by Brokers to give you the feeling that you really have something. Then you go live with it and surprise ,surprise it doesn't work.

The other testing method which is even more unreliable is backtesting.You will find a good many EAs that will backtest extremely well and everyone those EAs fails going live.
The point is testing Live is the only test that matters and gives you the results you need.

randy
pc8multifx (pc8multifx)
May 04 2010 at 04:31
879 投稿
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