Traders Laboratory Forex Trading Contest!

[Mysticforex 13]

I said out the outset that we would have an enforcement of the 20% DD rule this time.

[optiontimer 10]

I said out the outset that we would have an enforcement of the 20% DD rule this time.

 

Am I reading that correctly? Nico went from +1300% to -13% overnight?

[Mysticforex 13]

Am I reading that correctly? Nico went from +1300% to -13% overnight?

 

Yep.

 

I couldn't believe it either.

[bobcollett 10]

Nico

To put it as bluntly as possible......you are an idiot.

regards

bobc

[kuokam 10]

I thought these swings in account balance were impossible with Oanda. How is that possible with 50% leverage?

[bobcollett 10]

I would like to ask a question.

Assuming, in Live trading, Nico made $1.3million in one day, and he said"No more"

Would Oanda pay him out?

Or that matter, would any Forex provider pay out?

regards

bobc

[Obsidian 10]

I would like to ask a question.

Assuming, in Live trading, Nico made $1.3million in one day, and he said"No more"

Would Oanda pay him out?

Or that matter, would any Forex provider pay out?

regards

bobc

 

I am going to test it for you

 

 

I think opening 600 positions is more impressive..so far i did only 10

[Mysticforex 13]

I thought these swings in account balance were impossible with Oanda. How is that possible with 50% leverage?

 

50:1 is not the same as 50% Assuming he stayed with the $100K that the acct opens with, he could open a pos of $1.3 mil which comes out to $130 per Pip.

 

Still does not explain anything. I never tried it but I think Ingot said you could enter with Oanda's MT4 platform. Maybe he was using a BOT?

[Mysticforex 13]

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Nice gain Ingot !

[Ingot54 13]

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Nice gain Ingot !

... if the NZDUSD doesn't get a move on, in the direction I have it, then it will be the opposite come sunrise in Oz!

[optiontimer 10]

So Nico is bounced on a 20%+ drawdown from peak, not because he had a 20% drawdown from his starting equity? His drawdown from starting equity is only 13%.

 

That might make it rough on a trend trader like me ... if I do find an entry that runs in my favor, it is not unusual for me to give a good bit of it back before my trailing stop is hit. Would not a 20% drawdown from initial equity be more reasonable?

[Mysticforex 13]

On the data I posted in post #301 he showed a DD 1474.31%

[Mysticforex 13]

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[Mysticforex 13]

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[nicoacademia 10]

The demo starts you off with 100K you can add or subtract only before the contest starts to whatever amount you like.

 

Firm 20% DD rule this time.

 

i actually like the DD rule.

i'm thinking maybe by 2013 june i can fix my DDs

 

i fit the blow-up trader personality anyway and psychologically that will take many months work to undo.

[Mysticforex 13]

i actually like the DD rule.

i'm thinking maybe by 2013 june i can fix my DDs

 

i fit the blow-up trader personality anyway and psychologically that will take many months work to undo.

 

Don't give up, keep working on it. I blew 3 live accts my first year.

[4EverMaAT 10]

Is next month's contest already in the works? If so, where is the registration link?

[Mysticforex 13]

Is next month's contest already in the works? If so, where is the registration link?

 

Not yet.

 

What's the consensus everyone ? Should we continue?

[Ingot54 13]

Not yet.

 

What's the consensus everyone ? Should we continue?

It's a bit flat at the moment, and the week looks like remaining that way, market-wise.

 

I normally would not be continuing in the current format, as my trading TF is forcing me to take short-cuts to avoid the draw-down I might normally use. If we lifted limits, and extended TF I could easily see this contest as having further value for me.

 

But it is not about me - it is about learning from the experience, I would think. I don't mind not filling a place at the end of the month, if it means making up the numbers and perhaps eventually sharing some strategy.

 

I'll go with the consensus.

[Mysticforex 13]

It's a bit flat at the moment, and the week looks like remaining that way, market-wise.

 

I normally would not be continuing in the current format, as my trading TF is forcing me to take short-cuts to avoid the draw-down I might normally use. If we lifted limits, and extended TF I could easily see this contest as having further value for me.

 

But it is not about me - it is about learning from the experience, I would think. I don't mind not filling a place at the end of the month, if it means making up the numbers and perhaps eventually sharing some strategy.

 

I'll go with the consensus.

 

Is everyone cool with raising the DD to 30%, and making the next contest 2 months? ( Would start Nov 1st and run to end of year ).

[nicoacademia 10]

Is everyone cool with raising the DD to 30%, and making the next contest 2 months? ( Would start Nov 1st and run to end of year ).

 

actually i recommend the DD be left at 20% or lower. it is really a skill that must be learnt before trading live.

[Mysticforex 13]

actually i recommend the DD be left at 20% or lower. it is really a skill that must be learnt before trading live.

 

Ok, so far we have 1 for 20% and 1 for 30%. Still have 2 weeks to decide.

[Mysticforex 13]

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[4EverMaAT 10]

Ok, so far we have 1 for 20% and 1 for 30%. Still have 2 weeks to decide.

 

30% is fine for me.

 

PS: maybe the month of december can run for 2 months due to the holiday overlap?

[Mysticforex 13]

30% is fine for me.

 

PS: maybe the month of december can run for 2 months due to the holiday overlap?

 

I like that better.! month for Nov with a 30% DD.

 

Then we we try 2 months Dec and Jan with a 30% DD.

 

I have not set anything up yet so people can still weigh in.