ItzProspero:



Supported.

Some focus on pips, some on risk.

Let the rules accommodate all pls

ItzProspero:



Supported.

Some focus on pips, some on risk.

Let the rules accommodate all pls

Donsheddyguru:


Exactly my point

Donsheddyguru:


Like I said...
Using pips alone to judge won't stop over trading....
Someone can decide to use 0.01 lots size and at the same time open too many positions....
Thereby risking too much too

Theyoungmaster:


A good trader focuses on both. They are complementary. No need for the split. The contest is all about making good traders out of all contestants. You need to be good at risk management and pips making to be considered a good trader.


I come in peace.

infofirst:


Someone can decide to but then there is the restriction of max of 0.05lots for everybody. So its left for you to used up all 0.05lots or not. As a matter of fact, those that scalp open more trades than those after pips. So if you are good in either. You end up with brilliant result.

Donsheddyguru:


This one makes sense....
Minus me oh...
I'm sure theyoungmaster takes more trade than I do...

Donsheddyguru:


Risk management is everything...
If you can't manage your risk then I don't know....
Risk management isn't all about using small lot size like I said it varies....
Risk management means knowing when to enter the market and when to jump out....
How much loss you're will to absorb....
One can make a million pips and still blow his account...
While some one else can make just 10 pips and still be profitable....
It varies....
Some people have the patient to see out a trade till the last minute, while some don't have that patience ....
It varies that's why we have scalpers, swing trader's, day trader's....
That's why we also have different tf to accommodate everyone...
At the end of the day no matter your style of trading...
If you're good you will always be profitable...

Elliotwaveforec:


Please, the TF of the chart, daily or 4 hours?

docus:

Daily

Theyoungmaster:


I get your point. Thing is the maximum 0.01 lot size as recommended by boss @infofirst will make sure everyone is on a level playing field as regards risk management and pips making. It wouldn't be fair to me if I'm trading 0.01 lots all along to make say $10 from 100pips while another person is trading 0.1 lots to make same $10 from just 10pips. I'm already at a disadvantage. If we all trade 0.01 with max open order of 5 positions, then anyone who tops the contest must have managed risk properly, made the highest pips and also had the commensurate highest profit to go with it. It's killing 3 birds with one stone.


I strongly support.

Wo, make i go read. Exam's knocking. Pip count and value wouldn't matter in heaven.


Over and out.

infofirst:

Theyoungmaster:


I get your point. Thing is the maximum 0.01 lot size as recommended by boss @infofirst will make sure everyone is on a level playing field as regards risk management and pips making. It wouldn't be fair to me if I'm trading 0.01 lots all along to make say $10 from 100pips while another person is trading 0.1 lots to make same $10 from just 10pips. I'm already at a disadvantage. If we all trade 0.01 with max open order of 5 positions, then anyone who tops the contest must have managed risk properly, made the highest pips and also had the commensurate highest profit to go with it. It's killing 3 birds with one stone.


I strongly support.

Wo, make i go read. Exam's knocking. Pip count and value wouldn't matter in heaven.


Over and out.

NetValueFX:


Exactly.
The limits on lot and maximum open order has introduced a reasonable fair play and discipline as well. I believe the organizer of the contest has an aim which the current status quo is not achieving.
There is a positive side to this new rule, people will now be forced to vet their trades properly before placing them cause there is less room for error.
Personally, I do open upto 12 trades sometimes. Now it means I will have to wait for the best trades with sharper entries else I will forced to wait a longer time for profit to be made. So it's a good thing. This conditions if maintained for 6months will produce far better traders than the current conditions. It will also make us know that with such conditions someone can actually make a decent profit.

haryodehjia:


Boss can the DD rule be reduce to 5% too since we are reducing the lot size?

haryodehjia:


Boss can the DD rule be reduce to 5% too since we are reducing the lot size?

infofirst:
who is @jerryson1. Trying to find the username here but no result.

infofirst:



We improved after detecting issues. In the next contest, we will return to only currency pairs and total max lot size that can be traded will be 0.05. And every position must be 0.01 lot size. pips making is the goal not high returns with minimal pips making.

Thank you boss Mi. I will ensure I check every trades of those to be rewarded in the current contest

Theyoungmaster:


Yes o! I made a whooping 787pips yet I'm languishing at 9th all because I trade mostly 0.01 to 0.03lot sizes while the new topper made just 208pips. Pips made should be the benchmark. Not going in with outrageous lot sizes.

It's well.


Modified; In this current contest, My pip count is higher than every other person whose account is open to access....aside @Seunesco. Y'all be making me feel I was a bad trader with huge lot sizes. SMH.

Elliotwaveforec:


I dey tell you, after 2 weeks.

infofirst:
who is @jerryson1. Trying to find the username here but no result.

jerryson1:
Eurusd buy stop ... 1.2230
TP 1.... 1.2220
Tp 2.... 1.2245

jerryson1:

I'm here boss

infofirst:


Thanks boss mi. Tell me one reason why I should not doubt you have purposely open this moniker for this contest and that you have another moniker here. Your moniker is so new and gbam you found this thread. I want to learn o.


@theyoda what is your thought?
Patience

TheYoda:
And alot of things to learn here with Mayor account, that type of strategy is very dangerous, if you don't have stop loss, and you are scalping.

He took him 7-9 days to get those gains BUT just 1 day, he's got -$500 floating loss. You see how much 1 bad day set him back to?

You can even have 60 days profitable day but if 1 bad day is going to kill you. You don't need anybody to tell you, you have to change something. Maybe use equity stop loss, say you have -5% in a day , you should close all trade, close mt4.

I'm sayin this because I've been there, done that, rake up many wins, 90 days of good trading, about 92win rate until I got a bad day, blew half my account. Thats not the main problem , but the psychological damage and emotional toll .

Well enough said.

infofirst:


Thanks boss mi. Tell me one reason why I should not doubt you have purposely open this moniker for this contest and that you have another moniker here. Your moniker is so new and gbam you found this thread. I want to learn o.


@theyoda what is your thought?
Patience

infofirst:


Some folks made vetting of the contest this time a punishment for me.
Floating rules when the first request was for us to read the rules. Some one traded with an account used for trading since February with $5000 balance. Some still used pin to secure their accounts. Some restricted access when we are trying to ensure fairness to all. At least everyone can see winners are picked with no biasness.
Someone traded with two different contest name and that folks has two different fta monikers as well. I am not calling him now but I am watching. He did same in last contest as well. Some used numbers and some changed their username to number after recording losses or disqualification.
I am pleading, kindly read the rules and ask questions if its not clear. This way I will not have to go through stress to pick winners. This can delay award of prizes and It can make me to stop the contest when I am too busy.

infofirst:
^ Learn to take positive lessons from the contest and do not be intimidated.
Just because of @mayork2n trading style in this contest period. I was motivated and decided to trade ustec and us30 and see attached what I achieved on that. And this is just a set aside live account.
When life throws lemon at you, my boss, make lemonade out of it.

@last contest. The most valuable trader @jbinary AKA @ilovebigyansh made me to trade 98% 0.01 lot in this contest period and infact made me reduce my risk in my live accounts. That should be the essence of this contest. Learning and unlearning. If there is anything to learn in this contest period, it is that money management is single most important. When you miss money management, you will lose money and this will bring doubt into your strategy and mess your psychology for days. Why wont you then better start trading responsibly.

This contest most valuable trader is @Seunisco. He did a good job harvesting this pips. @Theyoungmaster did good too. @infofirst no relent as well.
Our number one this week @qpetz did fantastic job as well. It is one thing to lead and another to maintain it.
@mayork2n. Thanks for that good run as well. I hope you wilk come and tell us the gist in full. How it started and what caused the last minute hitch and your advice for upcoming traders like me

XAUTrader4L:



Too much of everything is bad as it has become evident now, some people just come here for the competition money and hence have started exploiting it. I think you should take a rest boss, people are way too engulfed in this competition matter even though it has helped some.

infofirst:
^ Learn to take positive lessons from the contest and do not be intimidated.
Just because of @mayork2n trading style in this contest period. I was motivated and decided to trade ustec and us30 and see attached what I achieved on that. And this is just a set aside live account.
When life throws lemon at you, my boss, make lemonade out of it.

@last contest. The most valuable trader @jbinary AKA @ilovebigyansh made me to trade 98% 0.01 lot in this contest period and infact made me reduce my risk in my live accounts. That should be the essence of this contest. Learning and unlearning. If there is anything to learn in this contest period, it is that money management is single most important. When you miss money management, you will lose money and this will bring doubt into your strategy and mess your psychology for days. Why wont you then better start trading responsibly.

This contest most valuable trader is @Seunisco. He did a good job harvesting this pips. @Theyoungmaster did good too. @infofirst no relent as well.
Our number one this week @qpetz did fantastic job as well. It is one thing to lead and another to maintain it.
@mayork2n. Thanks for that good run as well. I hope you wilk come and tell us the gist in full. How it started and what caused the last minute hitch and your advice for upcoming traders like me

Mayork2:
good morning bosses I was actually on transit yesterday so I couldn't concentrate well as a result I bought us30 at the top when it had moved about 400 points, this was actually against my strategy because the market is bound to retrace after making such heavy move up,my advice is that no matter how much trust you have in your strategy do not force trades.