Traders Laboratory Forex Trading Contest!

[UWCFX 10]

1. Ingot54

2. PWP

3. Youri

4. Obsidian

5.

6.

7.

8..................

HELLO, you can add me,pls

i have like contest with money prize

when started this contest and how long will be have this contest?

[kuokam 10]

Hi Ingot! Hi all!

I am interested also.

Oanda is fine by me.

 

 

 

1. Ingot54

2. PWP

3. Youri

4. Obsidian

5.

6.

7.

8..................

Edited July 26, 2012 by kuokam

[dwt 10]

While it's admittedly a different form of contest, and on a different (if not competing) site, you might also consider surfing over to 100 Fold Challenge -> Interested? TEST yourself @ Forex Factory and having a look at the 100 fold challenge. I note that they provide a mechanism there for having your trades monitored and their results compared to those of others.

 

Just a thought...

 

Regards.

 

dwt

[Ingot54 13]

1. Ingot54

2. PWP

3. Youri

4. Obsidian

5. Xparm

6. MP21

7. UWCFX

8. Koukam

9. Mystic Forex

10.

11.

12.

13.

14. ..................

 

Welcome to those brave enough to have a go - good on you. Keep those entries coming in folks.

 

The next step is to get a demo account established at Oanda ... and spend the rest of the free time you have getting used to trading the platform (position sizing, opening and closing trades ... the usual stuff).

 

You will only need your Oanda account number and your username to enter.

 

Go to OANDA - Forex Trading and Exchange Rates Services | OANDA

and scroll down to "Forex Trading" and select "Forex Demo Account."

Forex Demo Account | OANDA fxTrade

 

Just register, follow the instructions and you are on your way.

 

Later I am sure we will have the contest registered, and a link will be provided for you to click to join.

 

Mystic Forex is the man - he ran the contest seamlessly last year. When we get the numbers, I think he can be coaxed to run it again ... please?

 

Note to Mystic: I am including your name in the list of contestants ... you know you want to do this!

[Mysticforex 13]

Well then, looks like we're a go.

I'll set up the contest over the weekend. Remember, this is for September.

This will give those not familiar with Oanda a month to acquaint themselves with the platform,

FXTrade.

[nicoacademia 10]

when does the comp start-end?

i don't mind signing up just for pure fun.

[Obsidian 10]

this will be fun come on people, join

[nicoacademia 10]

Im trying to for the fun of it but replies under moderation :/

[Ingot54 13]

I know there are a lot of people trading Forex, or just getting into it, who read the Forex threads. I found over 80 people in the Forex threads who have posted in the past year or two, and I believe there are many more who read a lot, but never post.

 

You know who you are - you have been a member of TL for a long time - some of you going back years. Some of you have never posted here, and some of you have only 3, 8 or a dozen posts in those years.

 

No one knows who you are, personally speaking - all of us are just names on a screen. But behind that, we are human beings who are trying to do better - struggling to make the switch from working for wages to getting some regular money from Forex trading.

 

These kinds of competitions can only be for your benefit. Firstly the act of participating exposes you to effort - it makes you get your act together and trade in a situation where you feel you need to do some firm analysis and make trading decisions.

 

Secondly it exposes you to other traders who are not doing too badly, and gives you an opportunity to see what can really be done in this financial field.

 

Thirdly - it gives you an opportunity to put a new strategy to the test, under disciplined conditions. You will only have one month to find a trade, and execute it through all of the steps - position-size it, get it to break-even, and manage it through to its exit.

 

There are other benefits such as meeting other traders and getting to share in their way of trading - most will share either publicly or privately with you, if you ask them. I know many traders want to keep their strategy close to their chest - that's good too, but at the end of the day everyone learns and we become better for the effort.

 

I could keep going like this, but my point here is to simply encourage people who are shy, or not wanting to expose their good or bad trading to the public, to try to put that aside, and take the plunge here.

 

No one s going to care or remember much of who did what in this contest, and certainly no one is going to be exposed to any detriment for not winning. There will be only one winner - the rest of us are hardly going to be ashamed for being a part of it.

 

That's why I urge you, if you are interested, to just have a go. This is one of the best opportunities around to try out trading with people in a decent forum, who can only help you do better.

 

If you have any concerns about how to participate, how to register with Oanda, or anything else to do with getting organised, but don't feel you could ask that here - send me a pm, and I promise I will work with you to get started.

 

I know also that there are hundreds of people who do not consider their English skills to be "good enough" to try this.

 

Let me ask you - when will your language be good enough? And now, let me tell you - if you can read this, then you are already good enough. I have had to learn a foreign language, so I understand the pressure to be understood. But I know TL is a good forum, where people are inclined to understand and help you - please don't worry that your English is not good enough - we will understand you - just try.

 

Participation in this contest could be the best step you could make to finally get your trading moving forward. Most of us here were also beginners at one time, but there certainly were not these opportunities around 8 years ago when I began trading.

 

And there were even fewer people who knew what they were doing, or who wanted to help others.

 

Sorry if I sound patronising - I don't mean to be. I just want people to feel accepted and to try this, knowing they are in good company.

 

Have a go.

 

Kind regards

 

Ivan

[Ingot54 13]

Im trying to for the fun of it but replies under moderation :/

 

1. Ingot54

2. PWP

3. Youri

4. Obsidian

5. Xparm

6. MP21

7. UWCFX

8. Kuokam

9. Mystic Forex

10.Nicoacademia

11.

12.

13.

14.

15. ..................

 

Keep posting Nicoacademia - the delay in your post appearing is an unfortunate side-effect of the influence of spammers on our freedom. I think you need around ten posts from memory to overcome the delay.

Thanks for your entry - it is encouraging.

 

The comp starts with market open on Monday 3rd September, and ends with market close Friday 28th September. Mystic Forex will have more to say about this under the rules to be announced, and it is possible there will be a refinement to the closing hour at the end, to allow for position closure and calculation. It was midnight last time on the last (trading) day of the month.

 

By the way - welcome to Traders Laboratory, and to the contest. In this laboratory you will find a mixed bunch of market scientists indeed!

[nicoacademia 10]

Thanks for the welcome i look forward to the competition.

[nicoacademia 10]

the interesting thing is that i'm travelling during september. so i guess i will get a position in and see what happens from there.

even on the 28th Sept i would be travelling so i will see how i can close the position. haha.

 

but still i will try my best.

[MadMarketScientist 11]

No better time for me to learn forex than now I guess! Add me to the contest.

 

1. Ingot54

2. PWP

3. Youri

4. Obsidian

5. Xparm

6. MP21

7. UWCFX

8. Kuokam

9. Mystic Forex

10.Nicoacademia

11. MadMarketScientist

12.

13.

14.

15. ..................

[Mysticforex 13]

https://fx2.oanda.com/mod_perl/fxcontest/fxcontest.pl?rm=listContestshttps://fx2.oanda.com/mod_perl/fxcontest/fxcontest.pl?rm=listContests

 

 

 

 

Here is the link to join the contest ( after you have an FXTrade practice acct ).

This page, or pages will show all the current contests with starting and ending dates.

Find Sept 2012 Traderslaboratory forex trading contest and select "Join".

 

You will asked to enter the Username and Password you created when you opened your practice acct.

( this or any other information will ever be displayed to anyone else )

 

You then must enter a "Display Name" .This should be the name/handle you use on Traderslaboratory, and the name we will see.

 

If anyone needs help getting setup, drop me a PM.

 

So far the rules will be as follows:

Highest percentage gain at the conclusion of the contest wins.

Anyone exceeding a 5% max Draw Down is eliminated.

You can use any instrument offered on the platform.

 

 

Very Important !

Before the start date of the contest you can add, or subtract imaginary funds as often as you like. If you do this during the contest period you will be eliminated.

[Mysticforex 13]

the interesting thing is that i'm travelling during september. so i guess i will get a position in and see what happens from there.

even on the 28th Sept i would be travelling so i will see how i can close the position. haha.

 

but still i will try my best.

 

The phone apps they have will work on demo/practice accts. At least the one for Iphone does.

Hope this helps.

[Ingot54 13]

 

So far the rules will be as follows:

Highest percentage gain at the conclusion of the contest wins.

Anyone exceeding a 5% max Draw Down is eliminated.

You can use any instrument offered on the platform.

 

Very Important !

Before the start date of the contest you can add, or subtract

imaginary funds as often as you like. If you do this during the

contest period you will be eliminated.

 

Mystic ... could you please extrapolate that rule highlighted in red.

 

Does the 5% refer to the combined DD of ALL positions ... or just individual trades?

 

If I set a SL of 5% of trading capital per pair, that would be $2500 risk on each trade

if using a $50k a/c size. 10 simultaneous trades means $25k at risk of DD ... 50% of a/c.

 

On the other hand (there is always another hand) 5% DD means I

could have a max $2500 at risk of DD at any one occasion. Some

traders don't have a lot of DD ... others swim in it!

 

Could you define the exact meaning - total a/c DD ($2500) ... or per

pair/instrument traded ($2500 DD per position).

 

Thanks ... and thanks for taking this contest forward.

[Mysticforex 13]

Mystic ... could you please extrapolate that rule highlighted in red.

 

Does the 5% refer to the combined DD of ALL positions ... or just individual trades?

 

If I set a SL of 5% of trading capital per pair, that would be $2500 risk on each trade

if using a $50k a/c size. 10 simultaneous trades means $25k at risk of DD ... 50% of a/c.

 

On the other hand (there is always another hand) 5% DD means I

could have a max $2500 at risk of DD at any one occasion. Some

traders don't have a lot of DD ... others swim in it!

 

Could you define the exact meaning - total a/c DD ($2500) ... or per

pair/instrument traded ($2500 DD per position).

 

Thanks ... and thanks for taking this contest forward.

 

 

As traders we have to set limits on what is an acceptable loss. We have all heard people say "Never risk more than 2% of your acct" etc etc.

Draw down is unrealized loss. A losing trade that is kept open. Say you have a $10K acct. Keeping a trade open that is more than $500 down, or 5% would be unacceptable in real life ( I hope ).

Having this rule prevents us from becoming cowboys at a rodeo, and to trade like we would in real life ( again, I hope ).

[ForexTraderX 10]

Well...this sounds like fun

 

How long is it? just sept? till the year end? 12 months?

 

Lemme know, and I'll join.

 

and to clarify, we can't let any SINGLE position drawdown 5%...however, if we have 5 seperate positions open in 5 seperate markets, each down 1%, that is acceptable... right?

[nviet 10]

I am in with you guys add me to the the list please

[Mysticforex 13]

Well...this sounds like fun

 

How long is it? just sept? till the year end? 12 months?

 

Lemme know, and I'll join.

 

and to clarify, we can't let any SINGLE position drawdown 5%...however, if we have 5 seperate positions open in 5 seperate markets, each down 1%, that is acceptable... right?

 

 

For the month of September. Welcome aboard !

 

No, You can't have more than a total of 5% drawdown.

[kuokam 10]

IMHO 5% as a combined dd looks if a bit short. You can have that in 2 or 3 three losing trades, or in 1 at certain times with high volatility.

If I could achieve that I would consider myself very good. But maybe it is time to aim at it.

 

 

For the month of September. Welcome aboard !

 

No, You can't have more than a total of 5% drawdown.

[Ingot54 13]

1. Ingot54

2. PWP

3. Youri

4. Obsidian

5. Xparm

6. MP21

7. UWCFX

8. Kuokam

9. Mystic Forex

10.Nicoacademia

11. MadMarketScientist

12. ForexTraderX

13. Nviet

14.

15.

16.

17

18. ..................

 

I am in with you guys add me to the the list please

Welcome to Trading Laboratory Forums Nviet ... and thank you for joining the contest.

 

Well...this sounds like fun

How long is it? just sept? till the year end? 12 months?

 

Lemme know, and I'll join.

 

And to clarify, we can't let any SINGLE position draw-down 5%...however, if we have 5 separate positions open in 5 separate markets, each down 1%, that is acceptable... right?

Thanks for stepping up, ForexTraderX ... I have added your name to the list of starters. You can still opt out of course.

 

The comp runs just for the Calendar Month of September, defined by the first and last trading days of that month. We should be able to grow this comp, and have it every month. If there is enough interest, the comp could be run over any period of time the members would like.

 

I like the sound of a quarterly contest personally, because of the TF I trade, and because healthy trades don't have to be closed out prematurely to realise profits that will count towards the final tally.

 

Thanks for your interest.

 

Ivan

[Ingot54 13]

How are we going setting up our trading accounts?

 

We have 24 days left in which to establish our Oanda accounts, and become used to executing trades with it.

 

Anyone having problems can ask here for assistance.

 

Also, more vacancies are waiting to be filled for the contest. If I am going to come last in this thing, I want it known that it took a lot of other traders to beat me!

 

1. Ingot54

2. PWP

3. Youri

4. Obsidian

5. Xparm

6. MP21

7. UWCFX

8. Kuokam

9. Mystic Forex

10.Nicoacademia

11. MadMarketScientist

12. ForexTraderX

13. Nviet

14.

15.

16.

17

18. ..................

[Mysticforex 13]

Only 3 contestants so far.

[Obsidian 10]

Only 3 contestants so far.

 

it should be 4 now!