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Do you have what it takes to succeed in online trading? Participate in our free contests, show your trading skills for a chance to win real prizes!

Trading Contest 9 Messages in this topic - RSS add reply

12
Maxima
Maxima
Posts: 1


3/29/2022
Maxima
Maxima
Posts: 1
My platform is frozen right now (as well as a while ago).

Anyone else?
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Guest


3/29/2022
Guest
Ja dopiero pi paru konkursach dopiero poznałem dobrze zasady dopuki dzis nie zostałem zdyskfalifikowany
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4EverMaAT
4EverMaAT
Posts: 28


3/29/2022
4EverMaAT
4EverMaAT
Posts: 28
Can you increase the contest starting balance to $5000? You can't trade any sophisticated strategy with only 1k starting balance + 1:100 leverage.


I understand $100k starting equity was too much, but you went in the opposite direction and made it too little with only 1k.

edit: also can you check your SSL certificate? I'm getting error with Chrome / Brave browsers:

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Guest


3/29/2022
Guest
saludos, cuando introduzco mi numero de teléfono para la verificación me dice que no es valido....alguien sabe porque de este error
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RC
RC
Posts: 29


3/29/2022
RC
RC
Posts: 29
Yes! Not on your side though: Entirely mine! I am too Indisciplined and Impulsive with my trading.
Needed to go forwards. Instead I reversed. At least I got a "1st", if only the 1st to be disqualified in under 30 minutes of the the competition.

Not Self Deprecation here, just responding to your Kind query Sir Peterson.

Fortunately, the Competition has an efficient Filter.. the Best Person will Emerge the winner. That will be adequate comepensolatation.

Upon review of the prize distribution, imho it is bearable and I would let it stand. This, because we have to consider the remittance options available. Once we pass through "banks" we are there seeing the lower tiered prizes reduced by another $5-$10 to get to the recipient. imagine if it was a $20.00 prize?

If the prizes could have been directly placed in a trading account, that would have been lessened (compliance issues..wink).

I second the earlier comment on finding a way to minimize multiple entries per participant. Though it cannot be illuminated, if we can tighten that: then by jove, all else I would change is have a Monday to Friday competition window. Once again thanks for hosting this competition, and having the starting balance closer to the Prize.

With the latest Prize changes though, ideally a $500.00 staring balance would stand the prize winners in better stead. I remain resolute in the opinion that if better trading practices are being encouraged here, then the first prize Purse, should be equal to the the Competition starting capital. That way if trading is really the winners' passion, then they can easily trade the same way or at some fraction of their winning risk, for a proportionate quantity growth from their Prize.

Bless! RC. Jason Peterson wrote:
RC wrote:

is there any issue RC?
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RC
RC
Posts: 29


3/29/2022
RC
RC
Posts: 29
Great Suggestion here Rneen, Applause This Would Bring the Main prize closer to the $1000.00 Starting Balance, and down to top 5 is a decent compensation for effort, whilst maintaining the $1K Prize payout. Rneen wrote:
Jason Peterson wrote:
Rneen wrote:
Hi Jason,
I think the award distribution should be reconsidered

Sure, please give your suggestion Thumbs Up

I suggest going back to the previous distribution
OR make it :-
500
300
100
50
50
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RC
RC
Posts: 29


3/29/2022
RC
RC
Posts: 29
GD "4EverMaAT" your opinion is most welcome I'm sure but I am not in support thereof.

Think for a minute, on mine. Keep the first prize payout as close to the Starting capital as possible, for the sake of the trader's development. if anything taking "Rneen" and his/her prize distribution suggestion,

1st $500
2nd $300
3rd $100
4th $50
5th $50


if we then had a $500.00 Starting capital, seek to limit one entry per contestant, per competition, then this might just be close the best web Competition available, for fostering trader's development. Bless! RC.

4EverMaAT wrote:
Can you increase the contest starting balance to $5000? You can't trade any sophisticated strategy with only 1k starting balance + 1:100 leverage.


I understand $100k starting equity was too much, but you went in the opposite direction and made it too little with only 1k.

edit: also can you check your SSL certificate? I'm getting error with Chrome / Brave browsers:
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mahirn
mahirn
Posts: 6


3/30/2022
mahirn
mahirn
Posts: 6
limiting maximum equity drawdown is a right thing; but limiting maximum trades counts is not.

if someone opens too many unprofitable orders, maximum equity drawdown percent will automaticly go upper.
However, it is possible to use trades counts in profitable and risk free ways.
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Angelus
Angelus
Administrator
moderator
Posts: 28


3/30/2022
Angelus
Angelus
Administrator
moderator
Posts: 28
Hello traders, we took notice of your suggestions and comments.
Also, for those experiencing problems with connectivity to the website, it's now resolved and all is working well.

Thanks for your patience and suggestions smile
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4EverMaAT
4EverMaAT
Posts: 28


3/30/2022
4EverMaAT
4EverMaAT
Posts: 28
RC wrote:
GD "4EverMaAT" your opinion is most welcome I'm sure but I am not in support thereof.

Think for a minute, on mine. Keep the first prize payout as close to the Starting capital as possible, for the sake of the trader's development. if anything taking "Rneen" and his/her prize distribution suggestion,

1st $500
2nd $300
3rd $100
4th $50
5th $50


if we then had a $500.00 Starting capital, seek to limit one entry per contestant, per competition, then this might just be close the best web Competition available, for fostering trader's development. Bless! RC.
....



The restricting the minimum capital from $100k to 1k was a very cartoony way of limiting starting capital, but in the opposite direction.

$5-10k starting balance with 1:100 leverage is quite reasonable. This allows all types of strategies to be traded.
The 1 minute rule takes care of "perfect demo fill" arbitrage (this could possibly be reduced to 30 seconds).
20% drawdown rule helps takes care of those going all in with large trades.
I would like to see maximum trades rule be removed. Since the contest is 1 week, it is expected that day-trading strategies will be employed, which may easily exceed several hundred trades per day. Should it really matter how many trades are made if 20% drawdown + 1 min rule + [hopefully] RA-ROI is already used? The goal is to let people trade how they want, while eliminating those who trade all-in without any consequence.

I would like to see moderator add a new statistic measurement column: Risk Adjusted ROI. Which will prove my point that RA-ROI will better analyze consistency across all strategies. It will demote those who "trade to the contest rules" instead of trading how they would actually trade on a regular basis (on a live account). You can be as aggressive or passive as you want, but treat it as you would be trading live.

I also believe in improving ways to eliminate duplicate or "team" accounts. But that requires more sophisticated methods to monitor strategies across multiple accounts.
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Haji Fanu
Haji Fanu
Posts: 1


3/30/2022
Haji Fanu
Haji Fanu
Posts: 1
drawdown idea is very bad idea no one can trade openly. drawdown should be on overall balance not on peak equity. its like a joke for trading.
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dudu
dudu
Posts: 4


3/30/2022
dudu
dudu
Posts: 4
why change contest rules everytime ..leave it as it is ..but i think the prize is not good enough,how can 3rd and 12th win the same in a normal competition 1st to 3rd prize always stand out.
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4EverMaAT
4EverMaAT
Posts: 28


3/31/2022
4EverMaAT
4EverMaAT
Posts: 28
Haji Fanu wrote:
drawdown idea is very bad idea no one can trade openly. drawdown should be on overall balance not on peak equity. its like a joke for trading.



Any other ideas for measuring consistency?
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mahirn
mahirn
Posts: 6


4/1/2022
mahirn
mahirn
Posts: 6
Just an alternative price list.

Place Prize 1st 250 USD 2nd 200 USD 3rd 150 USD 4th 100 USD 5th 90 USD 6th 80 USD 7th 70 USD 8th 60 USD 9th 50 USD 10th 40 USD
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Jason Peterson
Jason PetersonIT Director
Posts: 228


4/1/2022
Jason Peterson
Jason PetersonIT Director
Posts: 228
4EverMaAT wrote:
Can you increase the contest starting balance to $5000? You can't trade any sophisticated strategy with only 1k starting balance + 1:100 leverage.


I understand $100k starting equity was too much, but you went in the opposite direction and made it too little with only 1k.

edit: also can you check your SSL certificate? I'm getting error with Chrome / Brave browsers:

I think we can run one at 5k, we got a lot of requests for much lower starting like 1k to mimic more what the average player in the contest might realistically trade, but we can vary it for sure.
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Jason Peterson
Jason PetersonIT Director
Posts: 228


4/1/2022
Jason Peterson
Jason PetersonIT Director
Posts: 228
4EverMaAT wrote:

I would like to see moderator add a new statistic measurement column: Risk Adjusted ROI. Which will prove my point that RA-ROI will better analyze consistency across all strategies. It will demote those who "trade to the contest rules" instead of trading how they would actually trade on a regular basis (on a live account). You can be as aggressive or passive as you want, but treat it as you would be trading live.

I think it's going to make more sense to implement something like this if and when we do longer term trading competitions, at that point I could see it being extremely useful.
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Jane
Jane
Posts: 6


4/6/2022
Jane
Jane
Posts: 6
Congratulations to the contest 9 winners! wink
Representing Indonesia, South Africa, Philippines, Iran, Nigeria, and North Macedonia.



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