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Weekly Trading Contest 19 Messages in this topic - RSS

12
Admin
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21 days ago
Admin
Admin
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Posts: 239
Bushido wrote:
Greetings,

The past few weeks I've been trying your contest, and trying to understand the meaning of the drawdown rules of this contest.

The first is that I am confused by what appears on the existing monitoring account, for example; balance starts at $5000 with a maximum drawdown of 30% which means the maximum limit is $1500, right? then if I close profit $1500 which means my profit is 30% of the capital to $ 6500. from $6500 my maximum drawdown should be $1950 maximum drawdown, which means if I "equity" I am from $6500 - $1950 = $4550 then I am eliminated.

but different from what I experienced .. I tried for a partial cutloss, in the sense that from $6500 I cut 10% of the maximum drawdown of $650 per cutloss, until it reached a balance of $4550. from here if the rules are for equity, my account will be safe by keeping the minimum drawdawn and cutloss at 10%, correct?

example : 6500 - 10% = 5850 -10% = 5365 and so on.

but what is stated in the monitoring account is very different, the drawdown seems to bring up 2 mixed percentage calculations of balance and equity. and the total of all cutlosses.

Like something is odd, like if your balance is at the beginning of $ 5000 and then you cut loss $ 500 until the balance reaches $ 2500 then what is calculated in monitoring is that your account is drawn down by 50%.

Please explain, thank you.


Hi there Bushido!

Firstly, the DD rule is implemeted to avoid pure gambling (big lots, full margin). No trader does that in real life, as you know.
The DD rule is very easy and simple to understand. Basically, the percentage (could be 20%, could be 30% etc,) is calculated always from the equity high.

For example, you start with $5000, open a long XAUUSD and price comes down and your loss is 10% ($500). But you don't close the position and then price goes up and your profit becomes 20% ($1000). Total equity high $6000.

Now:
- you close the position and the account balance is $6000. The DD will recalculate from $6000.
- you don't close the position, your equity high was $6000 and now XAUSUD price drops again.

Either case, the DD is calculated always from the equity highest high.


In your example "example : 6500 - 10% = 5850 -10% = 5365 and so on." this is incorrect.
It's not 6500 - 10% = 5850 - 10% = 5365 and so on. It will always be a % calculated from the equity high, so even if you close partial loses whenthe total amount of loses reach 20% or 30% DD from 6500, the account is DQ.

To simplify calculations and help traders keep an eye on the DD, we've impleted a few weeks ago a new field on accounts stats page "Max allowed DD" in $ - this way you know exactly the max loss or the negative floating loss in $ of your contest account.

You can find it here: Contest Account 18818 Statistics (cashbackforex.com) on the left side menu.

Hope this helps and hope to see you again on contest 20 smile

- Angelus
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Admin
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Posts: 239


21 days ago
Admin
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Posts: 239
Mani wrote:
Max equity drawdown of this tournament


Hi there Mani!

The max DD for this contest (contest 19) is 30%.
You can also read a couple of posts above and read this guide here: User Guide (cashbackforex.com) to better understand how the DD rule is calculated and implemented.

Thanks smile

- Angelus
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Admin
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Posts: 239


21 days ago
Admin
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Posts: 239
naudiro wrote:
reparing for the contest


Hi naudiro!

What's that file or link that you are trying to post?
It's impossible to open, maybe a screenshot might help?

Thanks smile

- Angelus
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UserTrader
UserTrader
Posts: 36


20 days ago
UserTrader
UserTrader
Posts: 36
Bushido wrote:
Greetings,

The past few weeks I've been trying your contest, and trying to understand the meaning of the drawdown rules of this contest.

The first is that I am confused by what appears on the existing monitoring account, for example; balance starts at $5000 with a maximum drawdown of 30% which means the maximum limit is $1500, right? then if I close profit $1500 which means my profit is 30% of the capital to $ 6500. from $6500 my maximum drawdown should be $1950 maximum drawdown, which means if I "equity" I am from $6500 - $1950 = $4550 then I am eliminated.

but different from what I experienced .. I tried for a partial cutloss, in the sense that from $6500 I cut 10% of the maximum drawdown of $650 per cutloss, until it reached a balance of $4550. from here if the rules are for equity, my account will be safe by keeping the minimum drawdawn and cutloss at 10%, correct?

example : 6500 - 10% = 5850 -10% = 5365 and so on.

but what is stated in the monitoring account is very different, the drawdown seems to bring up 2 mixed percentage calculations of balance and equity. and the total of all cutlosses.

Like something is odd, like if your balance is at the beginning of $ 5000 and then you cut loss $ 500 until the balance reaches $ 2500 then what is calculated in monitoring is that your account is drawn down by 50%.

Please explain, thank you.

only the one who guessed the price movement at the moment wins with the current account of the drawdown. Just like that and no more)
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jual ban
jual ban
Posts: 72


20 days ago
jual ban
jual ban
Posts: 72
UserTrader wrote:
Bushido wrote:
Greetings,

The past few weeks I've been trying your contest, and trying to understand the meaning of the drawdown rules of this contest.

The first is that I am confused by what appears on the existing monitoring account, for example; balance starts at $5000 with a maximum drawdown of 30% which means the maximum limit is $1500, right? then if I close profit $1500 which means my profit is 30% of the capital to $ 6500. from $6500 my maximum drawdown should be $1950 maximum drawdown, which means if I "equity" I am from $6500 - $1950 = $4550 then I am eliminated.

but different from what I experienced .. I tried for a partial cutloss, in the sense that from $6500 I cut 10% of the maximum drawdown of $650 per cutloss, until it reached a balance of $4550. from here if the rules are for equity, my account will be safe by keeping the minimum drawdawn and cutloss at 10%, correct?

example : 6500 - 10% = 5850 -10% = 5365 and so on.

but what is stated in the monitoring account is very different, the drawdown seems to bring up 2 mixed percentage calculations of balance and equity. and the total of all cutlosses.

Like something is odd, like if your balance is at the beginning of $ 5000 and then you cut loss $ 500 until the balance reaches $ 2500 then what is calculated in monitoring is that your account is drawn down by 50%.

Please explain, thank you.

only the one who guessed the price movement at the moment wins with the current account of the drawdown. Just like that and no more)


ROFLMAO

i bold it your statement. very big mistake.
do you think this contest fully fair for every participants?
are you sure 1 contestant only have 1 account?

imagine if 1 person have 2 account, with drawdown 30% he can easy make profit 100%.
how about 4 account? he can double it 200%
8 account? very easy make 400%
16 account ? that so easy make 800% profit
32 account? very very easy make 1600% profit.

only buy and sell for each accounts, no need worry about price movements.
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jual ban
jual ban
Posts: 72


20 days ago
jual ban
jual ban
Posts: 72
only 2 ways to make competition fair play :
1. make it drawdown very tiny, 20% is good, less than 20% very very good. i believe no chance for persons who have multiples accounts survive if drawdown less than 20%.
2. close registration before contest start. no matter how many accounts he created before contest start, his account stock limited when contest begins. no chance again for him to create more accounts when contest start.
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Coca Cola
Coca Cola
Posts: 11


20 days ago
Coca Cola
Coca Cola
Posts: 11
20th Contest when start? drawdown 20% is moor better
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Admin
Admin
Administrator
Posts: 239


19 days ago
Admin
Admin
Administrator
Posts: 239
jual ban wrote:
only 2 ways to make competition fair play :
1. make it drawdown very tiny, 20% is good, less than 20% very very good. i believe no chance for persons who have multiples accounts survive if drawdown less than 20%.
2. close registration before contest start. no matter how many accounts he created before contest start, his account stock limited when contest begins. no chance again for him to create more accounts when contest start.



Hi jual ban!

Duly noted, thanks for your feedback and suggestions smile

- Angelus
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Admin
Admin
Administrator
Posts: 239


19 days ago
Admin
Admin
Administrator
Posts: 239
Coca Cola wrote:
20th Contest when start? drawdown 20% is moor better


Hi there Coca Cola!

Contest 20 should start next week, in principle.
Make sure that you enabled "contest notifications" to receive an email when the contest opens for registration.

Follow the list of available contests here: Forex Demo Trading Contests

Best of luck smile

- Angelus
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Musosopo
Musosopo
Posts: 1


19 days ago
Musosopo
Musosopo
Posts: 1
jual ban wrote:
UserTrader wrote:
Bushido wrote:
Greetings,

The past few weeks I've been trying your contest, and trying to understand the meaning of the drawdown rules of this contest.

The first is that I am confused by what appears on the existing monitoring account, for example; balance starts at $5000 with a maximum drawdown of 30% which means the maximum limit is $1500, right? then if I close profit $1500 which means my profit is 30% of the capital to $ 6500. from $6500 my maximum drawdown should be $1950 maximum drawdown, which means if I "equity" I am from $6500 - $1950 = $4550 then I am eliminated.

but different from what I experienced .. I tried for a partial cutloss, in the sense that from $6500 I cut 10% of the maximum drawdown of $650 per cutloss, until it reached a balance of $4550. from here if the rules are for equity, my account will be safe by keeping the minimum drawdawn and cutloss at 10%, correct?

example : 6500 - 10% = 5850 -10% = 5365 and so on.

but what is stated in the monitoring account is very different, the drawdown seems to bring up 2 mixed percentage calculations of balance and equity. and the total of all cutlosses.

Like something is odd, like if your balance is at the beginning of $ 5000 and then you cut loss $ 500 until the balance reaches $ 2500 then what is calculated in monitoring is that your account is drawn down by 50%.

Please explain, thank you.

only the one who guessed the price movement at the moment wins with the current account of the drawdown. Just like that and no more)


ROFLMAO

i bold it your statement. very big mistake.
do you think this contest fully fair for every participants?
are you sure 1 contestant only have 1 account?

imagine if 1 person have 2 account, with drawdown 30% he can easy make profit 100%.
how about 4 account? he can double it 200%
8 account? very easy make 400%
16 account ? that so easy make 800% profit
32 account? very very easy make 1600% profit.

only buy and sell for each accounts, no need worry about price movements.

Thats was happen with number 2&3 sir. I think there is same people. With same pattern of open position. And from the no. Account.
CMIIW.

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Musa
Musa
Posts: 1


15 days ago
Musa
Musa
Posts: 1
When i'll receive my prize?
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Admin
Admin
Administrator
Posts: 239


15 days ago
Admin
Admin
Administrator
Posts: 239
Musa wrote:
When i'll receive my prize?



Hi there Musa!
First of all, congrats!

Please refer to this post for a complete answer to your question: User Guide (cashbackforex.com)

Thanks smile

- Angelus
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