[quote=anas baswedan] great contest. why not starting early? let start it today, it is better than waiting till 21 feb :thumb:[/quote] Hi Anas,
Thank you :) !!
Sorry it just kind of worked out that way with the weekend, and putting some time between old contest end and new contest beginning to disable EA's, but I will look at what can be changed so in the future we can begin one immediately, even if EA's are being enabled/disabled.
Multiple entries per person are prohibited and enforced via SMS verification and IP address tracking.
rule above is not effective to prevent same person have multiple accounts.
the reasons : SMS verification can easy tackle with free sms online or free second phone number. there are many services like google voice,hushed, conxhub, 2ndline, phoneburner, mightycal, twilio, and many more.
also real fact in some countries, there are very easy and very cheap to get new phone number.
IP address tracking can easy break with free VPN or free proxy or free wifi.
if you are going to be able to block people from registering multiple accounts, The best ways are :
1) Device fingerprint. this method require technical programming skill. Device fingerprint detector will block 1 device registering multiple accounts. ask your web developer to add this feature. if they are expert they can easy do it.
2) Create contest registration form require informations : - real name on payment processor (non editable/can't changed) - email on payment processor (non editable/can't changed) then add rule only verified paypal,skrill,neteller,stickpay holder can get contest prize.
that's my suggestion to help contest organizer arrange this contest fairly.
[quote=Zakaria Mokaddem]Where password[/quote] Hi Zakaria,
It's under the link 'My login credentials' on the contest homepage, however it will not display until the contest begins, so that no trading is done before the contest starts.
[quote=jual ban]Multiple entries per person are prohibited and enforced via SMS verification and IP address tracking.
2) Create contest registration form require informations : - real name on payment processor (non editable/can't changed) - email on payment processor (non editable/can't changed) then add rule only verified paypal,skrill,neteller,stickpay holder can get contest prize.
that's my suggestion to help contest organizer arrange this contest fairly.[/quote] This a great suggestion, yes we've used device fingerprints and it's ok, but this is a very nice idea about adding uneditable payment processor info ahead of time and I think we will implement that :thumb:
Hi Jason, how if we use EA for TP/SL order and manage trade (close partially/close all trade, etc.). All trade place manually, just like one click trading with custom options. The trade it self still need PUSH the BUTTON. Thank you
I suggest that a maximum drawdown of say 10% should be implemented. If exceeded, contestant will be eliminated. This will help the traders to become more disciplined and will manage their risk properly.
I suggest that a maximum drawdown of say 10% should be implemented. If exceeded, contestant will be eliminated. This will help the traders to become more disciplined and will manage their risk properly.
Thanks
Fernando[/quote] For a week-long contest, it makes no sense to add this condition.
Thank you for your comment. This suggestion is to prevent winners "getting lucky" by simply waiting for large negative position to recover. Sometimes the negative position could be higher than 50% drawdown.
By having a maximum drawdown limit, the winners will be filtered based on their skill and not based on their luck. I don't see a problem even it is only a week long contest. A win is a win even if you achieve a small profit only but you have managed your risk properly. This will help traders in the long-term. After all, many of us would want to become successful because of skill not just because of luck.
It doesn't make sense to me to have a booked a profit of 50% whilst you have still have a negative open position of 75%.
Peace.
Kind regards
[quote=UserTrader ][quote=Fernando Ignacio]Hello Jason
Thanks for doing the contest.
I suggest that a maximum drawdown of say 10% should be implemented. If exceeded, contestant will be eliminated. This will help the traders to become more disciplined and will manage their risk properly.
Thanks
Fernando[/quote] For a week-long contest, it makes no sense to add this condition.[/quote]
Thank you for your comment. This suggestion is to prevent winners "getting lucky" by simply waiting for large negative position to recover. Sometimes the negative position could be higher than 50% drawdown.
By having a maximum drawdown limit, the winners will be filtered based on their skill and not based on their luck. I don't see a problem even it is only a week long contest. A win is a win even if you achieve a small profit only but you have managed your risk properly. This will help traders in the long-term. After all, many of us would want to become successful because of skill not just because of luck.
It doesn't make sense to me to have a booked a profit of 50% whilst you have still have a negative open position of 75%.
Peace.
Kind regards
[quote=UserTrader ][quote=Fernando Ignacio]Hello Jason
Thanks for doing the contest.
I suggest that a maximum drawdown of say 10% should be implemented. If exceeded, contestant will be eliminated. This will help the traders to become more disciplined and will manage their risk properly.
Thanks
Fernando[/quote] For a week-long contest, it makes no sense to add this condition.[/quote][/quote] basically you are right.
We will look to the contestants for feedback on these new rules. [/quote]
MT4 is designed for automated trading. Not sure why people would have such a problem with automated trading.
Should Liquidity Providers also be banned from using bots to assist them with their work?
Although I do respect that you can have the occasional contest without EAs. But I think more effort should be put into banning multis. And promoting risk-adjusted ROI (not just gross ROI). my RA-ROI formula is Gain / (Drawdown X Standard Deviation)
With a 3-6 hour time period for the SD (vs daily), since the contest is only 7 days. Or use the daily formula, but calculate it every 3-6 hrs vs once per daily reset.
[quote=BTS_CILACAP ]Hi Jason, how if we use EA for TP/SL order and manage trade (close partially/close all trade, etc.). All trade place manually, just like one click trading with custom options. The trade it self still need PUSH the BUTTON. Thank you[/quote] Hi BTS_CILACAP,
Hm, I don't think it's a possibility to just partially disable EA's ?
I suggest that a maximum drawdown of say 10% should be implemented. If exceeded, contestant will be eliminated. This will help the traders to become more disciplined and will manage their risk properly.
Yes, I agree with this suggest. We hope the winners are won because of their trading skills, not only by luck. Lets say the maximum drawdown is 25% or 50%. This will make the traders open trades carefully, not open "crazy" trades as we've seen on previous contests. I hope this rule will be implemented soon... ;)