Discussion of the Forex Contest GDMFX Forex Contest

Croomis posted:

Wormhole posted:
Thoughts on COMP/S.

I am thinking about this comp and comps in general. There is only one way to win and thats to push the boundaries, if you trade in a sensible manner and trade well increasing your account by 1% a day = 20% over the month you still have little to no chance of winning.

If you look at the past contests and the % increase of the winners you will see what Im on about, all the winners took risks OR got seriously lucky.

No 'sensible' trader wins (without some good luck) and the winners normally have huge drawdowns.

What are your thoughts? MINE = We need to take risks to win ANY comp OR be on the right end of a BREXIT type trade.

Not saying comp winners are bad traders just that Taking LARGE RISK and LUCK seem to be major factors.

No pain ... No gain 😎

i think you are right ...
i win before and get 2nd position in contest ,,,, can not say it was completely luke but you need alot of it .
good luke 😉

jsoh85 posted:

Wormhole posted:
Thoughts on COMP/S.

I am thinking about this comp and comps in general. There is only one way to win and thats to push the boundaries, if you trade in a sensible manner and trade well increasing your account by 1% a day = 20% over the month you still have little to no chance of winning.

If you look at the past contests and the % increase of the winners you will see what Im on about, all the winners took risks OR got seriously lucky.

No 'sensible' trader wins (without some good luck) and the winners normally have huge drawdowns.

What are your thoughts? MINE = We need to take risks to win ANY comp OR be on the right end of a BREXIT type trade.

Not saying comp winners are bad traders just that Taking LARGE RISK and LUCK seem to be major factors.

I agree with you. I took part in another competition before, and the winner was just a gambler. He had 400+% return in 3 months and a huge drawdown (can't remember the exact number but quite sure it was > 30%).

I think a competition is meaningless if the overall % increase in account is the only yardstick in deciding the winner. I am joining just to see what kind of traders are out there and for the fun of it.

The organisers should look at introducing an additional rule of 'not more than 10% or 20% peak-trough drawdown' to try and sift out gamblers winning on luck.

i think the organiser doesn't care who wins. they are looking for specific types of traders. it could be anyone 1st 10th or even 500th . as long as they fit the kind of pattern trader. maybe consistency with less drawdown. that traders will be approached privately. just my 2 cents here

nadmondo posted:
Hi GDMFX Support Team,
what is Margin call/Stop out levels ?......or there is no Margin call/Stop out levels ?.....thanks

Very important question

A question someone already has their balance in 10 00

Hi all,

I did not see the instruments for usoil and ukoil but only xauusd, can it trade oil and xptusd, xpdusd? Thanks.😄

OK. I saw it. Just need to add all the instruments into the list. Thanks and good luck, all!

Hi! Am new, god lock

Y'all ready to get whooped up on

Inostranec25 posted:
На балансе 0. Когда баланс будет пополнен?
On the balance of 0. When the balance will be credited?

Баланс будет с момента старта.. через 2,5 часа.

Can i get annswer frmo traders or from the Contest broker, why my account still pending? its says this:
You've connected your account successfully, but some trading history is missing. I did apply show all history on my mt4 few hours ago but i still see my account pending, its not active.

         Thx

Hello and good luck everyone! I'm wondering why my balance is still 0usd, although the contents is starting within 2hours???

nadmondo posted:

forexshane posted:

nadmondo posted:
good morning ...what is the exact meaning of.... step size - 0.01 lot?

It means you can increase lots by 0.01 of better. ie. first trade might 0.1 lots next trade might be 0.11 lots an increase of 10 cents a pip

many thanks..forexshane....it means the smallest increase....but can i take step=0.5 or step=1.....as i want?

Yes you are right good luck

zero7hour posted:

nadmondo posted:
Hi GDMFX Support Team,
what is Margin call/Stop out levels ?......or there is no Margin call/Stop out levels ?.....thanks

Very important question

Hello. The Margin call is at 100% and the Stopout is at 50%. We have already contacted Myfxbook about the issue with the balances, and they should load each participating account with 10 000 USD shortly.

irwanfx posted:

anazri posted:

moneygrows posted:
naked trading anyone?😀

what do you mean naked trading..?

It is not trading while naked but trading with no indicators on chart.

ahahaha

Hey guys remember, what we repeatedly do will reflect in results, so exellence is not a mistake,but a habit.may the best trader win!

Patience dear friend

mazin1978 posted:

Croomis posted:

Wormhole posted:
Thoughts on COMP/S.

I am thinking about this comp and comps in general. There is only one way to win and thats to push the boundaries, if you trade in a sensible manner and trade well increasing your account by 1% a day = 20% over the month you still have little to no chance of winning.

If you look at the past contests and the % increase of the winners you will see what Im on about, all the winners took risks OR got seriously lucky.

No 'sensible' trader wins (without some good luck) and the winners normally have huge drawdowns.

What are your thoughts? MINE = We need to take risks to win ANY comp OR be on the right end of a BREXIT type trade.

Not saying comp winners are bad traders just that Taking LARGE RISK and LUCK seem to be major factors.

No pain ... No gain 😎

i think you are right ...
i win before and get 2nd position in contest ,,,, can not say it was completely luke but you need alot of it .
good luke 😉

95% of Traders blow out their account and these are the Traders that Brokers are very interested in because that's where Brokers make their money.
Brokers are not interested in the other 5% Consistent Traders.

Check out the Broker in details before depositing your hard-earned money with them.

GDMFX, Are you based in NZ??

DrMonkeyGray posted:
GDMFX, Are you based in NZ??

Yes.