Traders Laboratory Forex Trading Contest!

[Mysticforex 13]

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[onemove 10]

Averaging down + too much leverage = recipe for disaster

 

I do ok for a while with stops in place and reasonable position sizes .... and then that little red guy on my shoulder starts whispering in my ear: "what a pathetic return, you can do better than that, INCREASE POSITION SIZE!!!" ..... and somehow I can't resist

 

Thank you - it takes courage to share that. Being aware is the first step to control that whisper. That whisper makes its rounds by the way, so know that you are not alone. Next time imagine all of us in the contest backing you when you whisper back to that little guy "I can make up my own mind regarding position size - Thank you very much!"

 

Imho both averaging down and heavily leveraged positions will work under the right market conditions and circumstances. It also comes with associated risks and consequences - an advanced technique indeed with very little margin for error.

Edited May 8, 2013 by onemove

[nicoacademia 10]

personally for me. i find lowering leverage helped me alot.

if you have seen me around since the beginning. what changed is leverage.

i lowered it by alot.

i am still fine tuning and switching my methods as well as relearning more about the market and learning more about myself but what helps me when i get it all wrong is the lower leverage.

 

of course i hate low leverage because its like so much work to make $$. but i have a few live accounts that run parallel with my trading here n those that blow up(while this still stands and doubles++) is because it has the lowest leverage of all my accounts.

 

i have a live 400:1, 300:1, 50:1 with various brokers. so...basically i can see the real results for myself.

 

i guess because of my all or nothing style. the lower leverage helps me survive.

and my personality is quite gung ho risk-taker too.

stuff like personality is a factor in our trading too.

[Mysticforex 13]

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[Mysticforex 13]

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[Mysticforex 13]

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[Mysticforex 13]

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[Mysticforex 13]

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[onemove 10]

Wow, Nicoacademia, which 3 trades is able to take one +28% in a day?

[kuokam 10]

Looks like he maxed volume and/or leverage.

 

Wow, Nicoacademia, which 3 trades is able to take one +28% in a day?

[4EverMaAT 10]

Actually, I doubled my equity as well. and another account with oanda mysteriously trippled the equity.

 

I did some research and found out that there were some fake ticks that caused sell orders to be closed out at 0.00000 price. So the profit will be very large on those trades where the fake tick occurred. Oanda customer service is aware of the issue and will advise when it is fixed.

[onemove 10]

That is amazing! Did this happened on certain pairs only?? I did not notice that in my account.

 

Actually, I doubled my equity as well. and another account with oanda mysteriously trippled the equity.

 

I did some research and found out that there were some fake ticks that caused sell orders to be closed out at 0.00000 price. So the profit will be very large on those trades where the fake tick occurred. Oanda customer service is aware of the issue and will advise when it is fixed.

[4EverMaAT 10]

That is amazing! Did this happened on certain pairs only?? I did not notice that in my account.

 

Across two separate demo accounts, GBPUSD, AUDUSD, and EURAUD. Based on this, I concluded with customer service that these fake ticks were occurring across multiple instruments. The Oanda representative acknowledged several other people reported the same incident.

 

Customer service claims the problem has been fixed. We will see. I wonder if they can fix the trade prices. They probably aren't too concerned as it is a demo account.

[Mysticforex 13]

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[Mysticforex 13]

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[Mysticforex 13]

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[Mysticforex 13]

Well the contest is over, the results are. in.

Congratulation to Nicoacademia for a fine job.

 

I was thinking of taking a break from the contest for the month of July, resuming in August.

I will be posting the link to join a about 2 weeks ahead of time. This should give anyone interested plenty of time to get set up.

 

I am also thinking of going back to the 1 month format. Let me know if there are any objections to that.

[onemove 10]

Congratulations Nicoacademia!

 

Thank you Mysticforex for administering the contest. Looking forward to the next one. No objections to change of format.

 

Well the contest is over, the results are. in.

Congratulation to Nicoacademia for a fine job.

 

I am also thinking of going back to the 1 month format. Let me know if there are any objections to that.

[nicoacademia 10]

wasn't an easy month.

but survival is the name of this game

looking forward to next month's comp.

i've learnt much whilst being part of these competitions.

[Ingot54 13]

WD Nico - you are now in Elite company ...

[nicoacademia 10]

WD Nico - you are now in Elite company ...

 

thnx Ingot

i learnt to play defense joining TL's contests.

TL's contests have improved my trading so much.

[optiontimer 10]

Congratulations Nico! Hardwork and discipline can and do pay off. The next piece of hardwork is maintaining the hard won discipline!

 

Maybe I'll try the next contest as see if I can give you a run for your currency

 

Good Work!

[nicoacademia 10]

Congratulations Nico! Hardwork and discipline can and do pay off. The next piece of hardwork is maintaining the hard won discipline!

 

Maybe I'll try the next contest as see if I can give you a run for your currency

 

Good Work!

 

always welcome more participants to the contest

 

i learnt this while doing marathons, it's a phrase oft repeated.

"Run your own race."

 

means alot to me when im making decisions in trading.

clears up space in my emotions first and mind as its easy to see the market just go ballistic and feel like a total loser :crap: :doh: missing that out.

[onemove 10]

Hello Everyone!

 

Is anyone interested in working an August Contest?

 

Starting Sunday August 4 - Ending Sunday September 1, 2013

 

If so, please sign up here

 

https://fx2.oanda.com/mod_perl/fxcontest/fxcontest.pl?rm=contestDetails&contestId=2795

 

Let me know if you have any difficulty with the sign-up.

Edited August 1, 2013 by onemove

[onemove 10]

Thank you 4EverMaAT for signing up!

 

"Predict" is an experimental account, it will trade the EURUSD based on collective predictions - See here http://www.traderslaboratory.com/forums/forex-trading-laboratory/16994-predict-experiment.html