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Weekly Trading Contest 12 Messages in this topic - RSS

12
RC
RC
Posts: 29


4/18/2022
RC
RC
Posts: 29
Seems There is Mercury on the comments Page. Comments Keep disappearing? Thanks for the New Contest. Thanks for returning to Global Prime.
Bless! RC.

PS.. on 2nd Thought might just have been my incorrect mode of comment Submission.upset
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Jason Peterson
Jason PetersonIT Director
Posts: 228


4/18/2022
Jason Peterson
Jason PetersonIT Director
Posts: 228
Hello and welcome to the new trading contest.

Please feel free to post issues, concerns, likes, or just chat with other participants.
  • Contest broker is Global Prime
  • Starting equity is $5000
  • Max drawdown is 20%
  • Max trades is 60
  • 3 prizes smile
Thank you and good luck

Sorry for the delay on this one.
+1 link
Jason Peterson
Jason PetersonIT Director
Posts: 228


4/18/2022
Jason Peterson
Jason PetersonIT Director
Posts: 228
RC wrote:
Seems There is Mercury on the comments Page. Comments Keep disappearing? Thanks for the New Contest. Thanks for returning to Global Prime.
Bless! RC.

PS.. on 2nd Thought might just have been my incorrect mode of comment Submission.upset

Thanks RC, I think there is an issue using one of the buttons when there is yet 0 posts in a thread.
0 link
jual ban
jual ban
Posts: 72


4/18/2022
jual ban
jual ban
Posts: 72
Jason Peterson wrote:
Hello and welcome to the new trading contest.

Please feel free to post issues, concerns, likes, or just chat with other participants.
  • Contest broker is Global Prime
  • Starting equity is $5000
  • Max drawdown is 20%
  • Max trades is 60
  • 3 prizes smile
Thank you and good luck

Sorry for the delay on this one.


nice dd 20% smile
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4EverMaAT
4EverMaAT
Posts: 28


4/18/2022
4EverMaAT
4EverMaAT
Posts: 28
Jason Peterson wrote:
Hello and welcome to the new trading contest.

Please feel free to post issues, concerns, likes, or just chat with other participants.
  • Contest broker is Global Prime
  • Starting equity is $5000
  • Max drawdown is 20%
  • Max trades is 60
  • 3 prizes smile
Thank you and good luck

Sorry for the delay on this one.


Why is there still a limit in the maximum trades? Daytrading strategy can easily have 100+ trades i a few hours or by end of day.

Not everyone goes all in on each trade, but will build up slowly from several trades.
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MrProfit
MrProfit
Posts: 4


4/19/2022
MrProfit
MrProfit
Posts: 4
how about giving an option for both 100 trades and 60 trades,


if your trades is less and equal to 60 then the DD is 30%, while if greater than 60 trades, the max trades is 100, and the DD is now 20%
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Bushido
Bushido
Posts: 6


4/19/2022
Bushido
Bushido
Posts: 6
4EverMaAT wrote:
Jason Peterson wrote:
Hello and welcome to the new trading contest.

Please feel free to post issues, concerns, likes, or just chat with other participants.
  • Contest broker is Global Prime
  • Starting equity is $5000
  • Max drawdown is 20%
  • Max trades is 60
  • 3 prizes smile
Thank you and good luck

Sorry for the delay on this one.


Why is there still a limit in the maximum trades? Daytrading strategy can easily have 100+ trades i a few hours or by end of day.

Not everyone goes all in on each trade, but will build up slowly from several trades.


sometimes i think .. its a contest for highest balance or minimum drawdown .. ?
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Jason Peterson
Jason PetersonIT Director
Posts: 228


4/19/2022
Jason Peterson
Jason PetersonIT Director
Posts: 228
4EverMaAT wrote:

Why is there still a limit in the maximum trades? Daytrading strategy can easily have 100+ trades i a few hours or by end of day.

Not everyone goes all in on each trade, but will build up slowly from several trades.

It's to level the playing field so that even contestants without ability to trade all throughout the day, also have a chance.
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Affih
Affih
Posts: 1


4/20/2022
Affih
Affih
Posts: 1
I don't understand how you count of dd. My balance 5202, floating minus just 700 usd with open 4 in one pair. But i got disq with dd 25% more. I think i just get dd 15%. Please tell me why
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jual ban
jual ban
Posts: 72


4/20/2022
jual ban
jual ban
Posts: 72
Affih wrote:
I don't understand how you count of dd. My balance 5202, floating minus just 700 usd with open 4 in one pair. But i got disq with dd 25% more. I think i just get dd 15%. Please tell me why



dd is not only about floating minus, if your account floating profit also will DQ if your current equity drop 20% from your highest equity
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Admin
Admin
Administrator
Posts: 609


4/20/2022
Admin
Admin
Administrator
Posts: 609
Affih wrote:
I don't understand how you count of dd. My balance 5202, floating minus just 700 usd with open 4 in one pair. But i got disq with dd 25% more. I think i just get dd 15%. Please tell me why



The drawdown is calculated not of your balance but of your equity. At each point in time your current equity is compared to the previous highest equity your account achieved. You can find an example of drawdown calculation here https://www.cashbackforex.com/article/user-guide#mcetoc_1fu57043q2
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mampuni
mampuni
Posts: 1


4/20/2022
mampuni
mampuni
Posts: 1
Admin wrote:
Affih wrote:
I don't understand how you count of dd. My balance 5202, floating minus just 700 usd with open 4 in one pair. But i got disq with dd 25% more. I think i just get dd 15%. Please tell me why



The drawdown is calculated not of your balance but of your equity. At each point in time your current equity is compared to the previous highest equity your account achieved. You can find an example of drawdown calculation here https://www.cashbackforex.com/article/user-guide#mcetoc_1fu57043q2


But sometimes that not working on the profit floating calculation.
In the case. Some account floating + 5000$. An then market was pulback, so the profit become + 1000$. The account was not DQ.

That whats happen at the previouses contest.
0 link
Admin
Admin
Administrator
Posts: 609


4/21/2022
Admin
Admin
Administrator
Posts: 609
mampuni wrote:
Admin wrote:
Affih wrote:
I don't understand how you count of dd. My balance 5202, floating minus just 700 usd with open 4 in one pair. But i got disq with dd 25% more. I think i just get dd 15%. Please tell me why



The drawdown is calculated not of your balance but of your equity. At each point in time your current equity is compared to the previous highest equity your account achieved. You can find an example of drawdown calculation here https://www.cashbackforex.com/article/user-guide#mcetoc_1fu57043q2


But sometimes that not working on the profit floating calculation.
In the case. Some account floating + 5000$. An then market was pulback, so the profit become + 1000$. The account was not DQ.

That whats happen at the previouses contest.


Hi there mampuni!

The DD rule is calculated on equity high minus equity low, and it's dynamic.
What happens sometimes is the account refresh rate, slow. You might see an account that is over 20% DD, but not DQ.
But if you check later, you will see it's DQ. We had a server connection issue on the previous contest, where the refresh rate was very, very slow.

Hopefully, that issue was solved and should be faster now, but it's not real-time.
Thanks for understanding smile

- Angelus
+1 link
RC
RC
Posts: 29


4/21/2022
RC
RC
Posts: 29
GD All, In light of the forgoing comments on the delayed feed and all the implicatiions for real time competing account drawdowns, may I suggest that persons get an indicator that will monitor their own account equity dd etc,

That of the other comoetitors as "Angelus" explained, will be eventually addrressed within the next feed-refresh cycle.

Happy competing all and keep striving to avoidb the tenatious red
blob, even as we reach for prizes 3 to 1 ๐Ÿ‘ผ๐Ÿฟ๐Ÿ™๐ŸฟBless! RC.

P.S. Account equity analysing indicators are freely available on the W^3.

Admin wrote:
mampuni wrote:
Admin wrote:
Affih wrote:
I don't understand how you count of dd. My balance 5202, floating minus just 700 usd with open 4 in one pair. But i got disq with dd 25% more. I think i just get dd 15%. Please tell me why



The drawdown is calculated not of your balance but of your equity. At each point in time your current equity is compared to the previous highest equity your account achieved. You can find an example of drawdown calculation here https://www.cashbackforex.com/article/user-guide#mcetoc_1fu57043q2


But sometimes that not working on the profit floating calculation.
In the case. Some account floating + 5000$. An then market was pulback, so the profit become + 1000$. The account was not DQ.

That whats happen at the previouses contest.


Hi there mampuni!

The DD rule is calculated on equity high minus equity low, and it's dynamic.
What happens sometimes is the account refresh rate, slow. You might see an account that is over 20% DD, but not DQ.
But if you check later, you will see it's DQ. We had a server connection issue on the previous contest, where the refresh rate was very, very slow.

Hopefully, that issue was solved and should be faster now, but it's not real-time.
Thanks for understanding smile

- Angelus
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Admin
Admin
Administrator
Posts: 609


4/21/2022
Admin
Admin
Administrator
Posts: 609
RC wrote:
GD All, In light of the forgoing comments on the delayed feed and all the implicatiions for real time competing account drawdowns, may I suggest that persons get an indicator that will monitor their own account equity dd etc,

That of the other comoetitors as "Angelus" explained, will be eventually addrressed within the next feed-refresh cycle.

Happy competing all and keep striving to avoidb the tenatious red
blob, even as we reach for prizes 3 to 1 ๐Ÿ‘ผ๐Ÿฟ๐Ÿ™๐ŸฟBless! RC.

P.S. Account equity analysing indicators are freely available on the W^3.

Admin wrote:
mampuni wrote:
Admin wrote:
Affih wrote:
I don't understand how you count of dd. My balance 5202, floating minus just 700 usd with open 4 in one pair. But i got disq with dd 25% more. I think i just get dd 15%. Please tell me why



The drawdown is calculated not of your balance but of your equity. At each point in time your current equity is compared to the previous highest equity your account achieved. You can find an example of drawdown calculation here https://www.cashbackforex.com/article/user-guide#mcetoc_1fu57043q2


But sometimes that not working on the profit floating calculation.
In the case. Some account floating + 5000$. An then market was pulback, so the profit become + 1000$. The account was not DQ.

That whats happen at the previouses contest.


Hi there mampuni!

The DD rule is calculated on equity high minus equity low, and it's dynamic.
What happens sometimes is the account refresh rate, slow. You might see an account that is over 20% DD, but not DQ.
But if you check later, you will see it's DQ. We had a server connection issue on the previous contest, where the refresh rate was very, very slow.

Hopefully, that issue was solved and should be faster now, but it's not real-time.
Thanks for understanding smile

- Angelus


Hi RC!

Thanks for your suggestion and feedback, appreciated as always!
The issue with server connection was specific to 1 of our sponsors, IC Markets.

So, with Global Prime things got back to "normal" per se. Connection is much faster to refresh the acc. history (my IT colleagues tell me like 5 minutes or so), but might depend on the number of accounts to monitor and other factors, like traffic to the demo server.

Of course, there's always a silver lining to every negative event, and we can learn what's not working or needs improving to keep serving you guys with a reliable and unique service (including contests).

If you find an MT4 indicator that can monitor acc. DD real-time (I will also ask on our Telegram group) please share it here with us (tho, most traders use their phones and we can't use custom indicators on MT4 mobile).

Many blessings RC! And stay out of the tenacious red blob smile

- Angelus
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wakekok
wakekok
Posts: 1


4/25/2022
wakekok
wakekok
Posts: 1
where we can see the description of the highest and lowest peaks?
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Admin
Admin
Administrator
Posts: 609


4/25/2022
Admin
Admin
Administrator
Posts: 609
Suluk wrote:
where we can see the description of the highest and lowest peaks?


Hi there Suluk!

We have a little explanation and an image on how the high to low peak works:
User Guide How DD Peak to Valley Works (cashbackforex.com)

Hope that helps smile

- Angelus
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jual ban
jual ban
Posts: 72


4/26/2022
jual ban
jual ban
Posts: 72
ranking 1 only 149% and third place only 75% profit.
drawdown system really working on this season.
+1 link
Eri_moko
Eri_moko
Posts: 1


4/27/2022
Eri_moko
Eri_moko
Posts: 1
Pardon, how to claim prize? I got 2nd but wonder wheter i got called or not bcause im on the way all day long and many missed call to my hp.. please make sure via email..thanks..๐Ÿ™
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Admin
Admin
Administrator
Posts: 609


4/27/2022
Admin
Admin
Administrator
Posts: 609
Eri_moko wrote:
Pardon, how to claim prize? I got 2nd but wonder wheter i got called or not bcause im on the way all day long and many missed call to my hp.. please make sure via email..thanks..๐Ÿ™


Hi there Eri_moko!

Congrats for contest 12, 2nd place, well done!
We don't call traders when they win a cash prize, don't worry.
You can find all the information here how to claim prize: User Guide (cashbackforex.com)

Normally, we pay the cash prizes within 24 hours of contests end date, so, just be a little patient smile

Thanks and good luck for contest 13.

- Angelus
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