To use chat, please login.
Back to contacts

So the contest has just began...

ForexSeeker (ForexSeeker)
Apr 28 2010 at 00:48
814 сообщений
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.
bestforexea (bestforexea)
Apr 28 2010 at 02:40
75 сообщений
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 сообщений

'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 :-)

WhyLose (WhyLose)
Apr 28 2010 at 19:51
102 сообщений
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.
bestforexea (bestforexea)
Apr 29 2010 at 00:53
75 сообщений
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?


WhyLose (WhyLose)
Apr 29 2010 at 04:46
102 сообщений
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.
tbuitendyk (tbuitendyk)
May 01 2010 at 23:20
141 сообщений
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.

ForexSeeker (ForexSeeker)
May 02 2010 at 04:04
814 сообщений
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 (michigansurveys)
May 02 2010 at 14:00
31 сообщений
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 сообщений
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.

Topic is locked