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So the contest has just began...

BlueMental (BlueMental)
May 06 2010 at 16:48
27 postów
bestforexea posted:
    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.


The whole NFA 'rule' story is pathetic. There is not one SINGLE trader that likes or agrees with the no hedging and limit on hedging rules. A great number sent E-mails OFFICIALLY opposing the NFA 'rules' (They are not rules, they are guidelines and have no legal standing as ratified law) yet NFA overides the general consensus for our 'safety'

When our opinion means absolutely zero, we know we are living in a Fascist State.

The way FXDD got around the NFA joke is through FXDD Malta.
Just as FXCM got around it by FXCM London, just as (in the end) all brokers will end up sending their taxes to other countries. Then when US finally wake up and try to call them all back it will be too late.

When the water is poisoned, only those that develop imunity to the poison can continue drinking it. The rest find another well.

BMI

"Whatever you focus your attention on, your consciousness becomes." - Lex Lungold.
BlueMental (BlueMental)
May 06 2010 at 16:51
27 postów
I just had a 0.84 lot buy trade that was up 20 pips. (In the competition)
I closed it, and the lots got sold separately (I watched them slowly ticking off) and by the time the trade closed, it hit me down $400.

LOL and this is in demo mode, I would hate to have that happen in live mode.

My broker spread on GbpJpy is 5 pips to 6 pips average.

FXDD is 9 pips.

BMI.

"Whatever you focus your attention on, your consciousness becomes." - Lex Lungold.
JeremyWhittaker (JeremyWhittaker)
May 06 2010 at 17:34
5 postów
My account balance did not reset as of yesterday. Is it possible to have someone look into this?

Backtesting is the key to success in any type of investment. If you can't prove it don't trade it.
cacus (cacus)
May 06 2010 at 18:14
119 postów
pc8multifx posted:
    Hopefully not.. demo contests are misleading regards the real performance on live accounts. Take a look at the leading contestant and the traded lot sizes in relation to the account size... unrealistic and suicidal on a live account.


Agree, it's insane watching some guys getting 200-400% in just two days!! 😲
If the contest time would be extended to 3 month maybe we won't be seeing those kind of 'all or nothing' misleading results... 🙄
Hope everything go well... let's see what i can do...
Hope the best for you all!

JC

Mental note: do not abuse.
bonsai
May 07 2010 at 01:22
4 postów
my deposit is 2,000 USD? Should be 1,000 USD. How can I change?

pkamau
May 07 2010 at 01:35
9 postów
Hey myfxbook. I have tried publishing my fxdd contest account using the credential you emailed me but its not publishing. How can i go about publishing the contest account??

bestforexea (bestforexea)
May 07 2010 at 02:04
75 postów
Well... firstly... the winner needs to run 100 mini lots live before he/she can withdraw the winnings. So I suppose these guys are putting it in practice. 100% risk... why not? Further more no one stand to lose.

The objective is to get to the prize. And the prize is a two step hurdle. Qualify into the top 3 and next qualify the 100 mini lot minimum requirement by FXDD.

One may do well in the contest (demo) then... it's up to the winner to try and make it to the prize money...

How I envy the current leader... 500%!!! 😇

Hmmm.... just wondering... if the winner were to win the contest and meet the mini requirement... not only will he/she gets to withdraw the prize money... but any profits is also the winners right??


cacus posted:
    
pc8multifx posted:
    Hopefully not.. demo contests are misleading regards the real performance on live accounts. Take a look at the leading contestant and the traded lot sizes in relation to the account size... unrealistic and suicidal on a live account.


Agree, it's insane watching some guys getting 200-400% in just two days!! 😲
If the contest time would be extended to 3 month maybe we won't be seeing those kind of 'all or nothing' misleading results... 🙄
Hope everything go well... let's see what i can do...
Hope the best for you all!

JC

tbuitendyk (tbuitendyk)
May 07 2010 at 06:15
141 postów
cacus posted:
Agree, it's insane watching some guys getting 200-400% in just two days!! 😲
If the contest time would be extended to 3 month maybe we won't be seeing those kind of 'all or nothing' misleading results... 🙄
Hope everything go well... let's see what i can do...
Hope the best for you all!

JC


It's true the results are misleading, but that's the nature of the contest I suppose. Everyone else is pushing the safety on their contest accounts so you've got to do that if you want to be contending for the top. Volatility Trader (my engine) is in second place right now but I don't think that will last as I've been doing damage control manually on VT today with the market hiccup and Greece and the UK election...

Right now Volatility Trader on our demo contest account is cranked up to 1:8 money management which I might run on a very small account (perhaps around $2k or $3k) with 1:200 leverage, but I would certainly not run on a large account like this. I'm running my own $10k account which has 1:100 leverage at our 1:2 money management setting but it's doing reasonably well too, approximately 40% - 50% today.

Theo Buitendyk
VT Signals Service

Staff (Staff)
May 07 2010 at 12:03
1387 postów

bonsai posted:
    my deposit is 2,000 USD? Should be 1,000 USD. How can I change?


Account was reset.

winnie_the_roo
May 07 2010 at 12:50
24 postów

Staff posted:
    
winnie_the_roo posted:
    Yesterday I saw a huge list of competitors. But I can see only a few on the list which doesn't not include myself. Does anyone know what's going on? I was hoping to see I'm somewhere near the top.


We're performing some maintenance work in the background due to the increased load on our servers, so some of the data might come and go - you can keep trading your contest account normally, it will not be affected.

Apologize for any inconvenience.


Thanks. I can see this issue being fixed. There is another issue though. Before the contest started I had $5000 in my account and the percentage is calculated based on the $6000 in my account, not the $1000. This results in my percentage gain is lot smaller than it should be. Could it be fixed? Or what can I do to change it?

Thanks.

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