Even though the account recovered and still made profits I already violated the DD rules, thanks @infofirst for the contest opportunity and to all the other contestants well-done guys I must say I'm really impressed by the level of skills and discipline displayed

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.

I thought as much, someone wit that kind of performance doesn't just gamble.

You still closed profitable means you know what you doing.

More wins once again.

jerryson1:

Lol. Yes boss i actually did but i don't have another moniker here. Ive bin following this thread for a while as a guest and only recently decided to open an account and join the contest. Just looking to improve my trading journey

I do not like to see efforts go unrewarded but then we do not want to make some to feel cheated considering the rules were in place to ensure orderliness. How do we justify penalizing one person for an offence only to overlook another person that committed the same offence.

I will consider splitting your wins between you and with whoever comes 4th.
Henceforth, In addition to active participation here, we will only consider accounts opened before we started this contest and then those opened in the last 3months with activities across nairaland.

ILovebigyansh:


I thought as much, someone wit that kind of performance doesn't just gamble.

You still closed profitable means you know what you doing.

More wins once again.

the bullish continuation didn't come in time as anticipated. Thanks bro

ILovebigyansh:
It seems every now & then we want something changed in the trading rules.

It's like sharpening a pencil, you get to a point where it's already good but you keep going till it becomes redundant.

@infofirst you've been doing a good job, I applaud your ability managing people & situations.

Let's give everyone a fair chance to trade, you can't force anyone to learn risk management.

We are all here to learn & become better traders. (Those trying to play the system well na dem sabi, at the end infofirst won't keep doing this forever, you'll be left to apply what you've learnt here).

I suggest we go back to the initial trading rules but with the current risk parameter (10% DD).

And to combat this issue of regular complaints on the rules, let's stick to a system of rules for a trading quarter or less.

Every q/q ending we can then revisit said complaints.

I believe change is necessary to come to the best rule. Many people here agree with this change and I believe it should be allowed to exist.

10% trailing drawdown
0.01 lot
5 maximum open order
No pin
No restriction in explorer
1:25 leverage


Come to think of it, if anyone trades with these set of rules successfully for straight 6months without getting disqualified, that person can actually pass FTMO.

ILovebigyansh:
It seems every now & then we want something changed in the trading rules.

It's like sharpening a pencil, you get to a point where it's already good but you keep going till it becomes redundant.

@infofirst you've been doing a good job, I applaud your ability managing people & situations.

Let's give everyone a fair chance to trade, you can't force anyone to learn risk management.
....
Every q/q ending we can then revisit said complaints.

Satisfying everyone leads to more issues but then when you see some trying to use their activities to discourage some people is another reason why its difficult to over look.

@shevychen2

One month you recommended?

NetValueFX:

I believe change is necessary to come to the best rule. Many people here agree with this change and I believe it should be allowed to exist.

10% trailing drawdown
0.01 lot
5 maximum open order
No pin
No restriction in explorer
1:25 leverage


Come to think of it, if anyone trades with these set of rules successfully for straight 6months without getting disqualified, that person can actually pass FTMO.

Very true. And one of my aim is to see that at least one person shows that consistency and I will sponsor him for ftmo $100,000 challenge.
Consistency is still missing. Good number that have won in the past miss out this time simply because they are not consistent yet.
I am considering lowering the prizes too and just when the contest ends. Those with good trading practices will get prizes that might be more than what the first position will get.

NetValueFX:

I believe change is necessary to come to the best rule. Many people here agree with this change and I believe it should be allowed to exist.

10% trailing drawdown
0.01 lot
5 maximum open order
No pin
No restriction in explorer
1:25 leverage

Seconded.

$100,000 Live trading account. I am 99.9% sure that only 5% of traders across the globe can manage such account balance successfully for one month.

@wiconse @donvic4u @don_sheddy
What says you to this?

infofirst:



Very true. And one of my aim is to see that at least one person shows that consistency and I will sponsor him for ftmo $100,000 challenge.
Consistency is still missing. Good number that have won in the past miss out this time simply because they are not consistent yet.
I am considering lowering the prizes too and just when the contest ends. Those with good trading practices will get prizes that might be more than what the first position will get.

Seconded.

infofirst:



Very true. And one of my aim is to see that at least one person shows that consistency and I will sponsor him for ftmo $100,000 challenge.
Consistency is still missing. Good number that have won in the past miss out this time simply because they are not consistent yet.
I am considering lowering the prizes too and just when the contest ends. Those with good trading practices will get prizes that might be more than what the first position will get.

You are point.

NetValueFX:


You are point.

He's what??

infofirst:
$100,000 Live trading account. I am 99.9% sure that only 5% of traders across the globe can manage such account balance successfully for one month.

@wiconse @donvic4u @don_sheddy
What says you to this?

Hahaha boss.
U are very correct...
It's easier looking in from outside. ..
But with time and experience, we'll all get better
Big ups once again with the great job sir!!!!

infofirst:


Satisfying everyone leads to more issues but then when you see some trying to use their activities to discourage some people is another reason why its difficult to over look.

@shevychen2

One month you recommended?

Yeah. I said so because every time I check here most weekends, the winner is a different person and the previous winner probably doesn't make top 3 (I could be wrong on this one). Still, trading consistency for one month beats consistency for two weeks. One month is nothing in the grand scheme of things but yeah.

infofirst:
$100,000 Live trading account. I am 99.9% sure that only 5% of traders across the globe can manage such account balance successfully for one month.

@wiconse @donvic4u @don_sheddy
What says you to this?

Of course. Why do you think more "prop firms" are popping up? They take these sign up fees and offer hundreds of thousands to trade knowing fully well that 9 out of 10 traders won't succeed with it. They pocket tens of thousands without doing anything. Many of them don't even put any money at risk. Just a fake $100,000 demo account.

If you can't display consistency and discipline with $500, you won't do anything with higher sums.

One thing I don't like about highest equity forex competition is 90% of the time it promotes over trading and over leveraging, that's the reason why ( n some personal reasons too) I haven't participated fully in the contests.

For those actually learning from the contest and not just in for for the price I commend you guys it is not easy...
Bus info first you are doing well sir..


@Fmusty if you are seeing this, I go like talk with you SMALL. show face abeg

ILovebigyansh:


I thought as much, someone wit that kind of performance doesn't just gamble.

You still closed profitable means you know what you doing.

More wins once again.

Quick look at that account and I can see the main signs of high loss aversion mentality. Probably not gambling, but that's a very unsustainable approach to trading. It's easy to recover on a demo account with zero emotions on it and of course the market reversed later. Will the trader have the same level of control if that was their real money in 50%+ drawdown? Would you be praising him if the market didn't give an opportunity for recovery immediately? I leave the answer to you.

When Ogboraph was doing his magic, I was one of the few that wasn't clapping for him. I saw through what he was doing and warned but whosai. Anyways, people will learn their lessons. Peacefully or painfully.

Never seen anyone that can maintain an average loss twice the size of the average profit and stay profitable for more than one year of trading.. And I've been around for a really long time.

@infofirst set the rules to achieve your aim and create a level playing ground for all. It cannot favour all traders because we all trade different strategies. I had to adjust mine to be able to participate in the contest and still come out green. Which is my own aim. Every week will never be the same for everyone. So also no be everybody go carry first. I participated to train my self to join a prop firm. This contest gave me the confidence to. Also I have never looked at Indices until i saw Mayorkn hitting it hard without mercy. I have started working on it also just like you did. To all the contestants, welldone! Its not easy to show your level of confidence while the whole world is watching. To those cheating the system, na una sef una dey do o. To those struggling, you shall get there once you seeeee.

Eshin

Mayork2:
Even though the account recovered and still made profits I already violated the DD rules, thanks @infofirst for the contest opportunity and to all the other contestants well-done guys I must say I'm really impressed by the level of skills and discipline displayed

Shevychen2:


Of course. Why do you think more "prop firms" are popping up? They take these sign up fees and offer hundreds of thousands to trade knowing fully well that 9 out of 10 traders won't succeed with it. They pocket tens of thousands without doing anything. Many of them don't even put any money at risk. Just a fake $100,000 demo account.

If you can't display consistency and discipline with $500, you won't do anything with higher sums.

Thats exactly what I have always believed too. If you can not manage $100. You can never manage $100,000. Underfunding na just excuse.

Greetings to all the bosses in the house.

@Charly20 @theyoungmaster and fellow newbies like me. I have been more interested in you guys trading than I have in other people. Baby steps.

My advice is for us to stay consistent and think long-term. Short term thinking can set someone back for months or years.

Thank you, boss infofirst. You are helping a lot of us with this thing called trading. Your effort is not in vain.

Cheers.

Greetings all, I have been watching on the side for 3 competitions now and I am impressed in the gains and lessons shown by traders! Kudos!

infofirst:



Thats exactly what I have always believed too. If you can not manage $100. You can never manage $100,000. Underfunding na just excuse.

Retweet!

CopyJoe:
Greetings to all the bosses in the house.

@Charly20 @theyoungmaster and fellow newbies like me. I have been more interested in you guys trading than I have in other people. Baby steps.

My advice is for us to stay consistent and think long-term. Short term thinking can set someone back for months or years.

Thank you, boss infofirst. You are helping a lot of us with this thing called trading. Your effort is not in vain.

Cheers.

Cheers bro. Slow and steady wins the race. God no go shame us.

Shevychen2:


Quick look at that account and I can see the main signs of high loss aversion mentality. Probably not gambling, but that's a very unsustainable approach to trading. It's easy to recover on a demo account with zero emotions on it and of course the market reversed later. Will the trader have the same level of control if that was their real money in 50%+ drawdown? Would you be praising him if the market didn't give an opportunity for recovery immediately? I leave the answer to you.

When Ogboraph was doing his magic, I was one of the few that wasn't clapping for him. I saw through what he was doing and warned but whosai. Anyways, people will learn their lessons. Peacefully or painfully.

Never seen anyone that can maintain an average loss twice the size of the average profit and stay profitable for more than one year of trading.. And I've been around for a really long time.

I completely catch your drift.

Let's see how this goes.

infofirst:
@shevychen2
One month you recommended?

1 month is not bad idea, the speed of people chasing phantom will reduce.

NetValueFX:

10% trailing drawdown
0.01 lot
5 maximum open order
No pin
No restriction in explorer
1:25 leverage

I like this too.

Rules are ironed out before the competition start, to get everybody on the same page.

infofirst I'd suggest everybody download and use ICMarket ( you want to join the competition, use ICmarket, that small price to pay )

Why ICMarket, so we all know we are on the same footing, no cheating or what have you, we know ICMarket LEVERAGE WILL WORK THE SAME ON ALL THE COMPETITORS (that way, I won't go and join one broker in Moldova that allows to trade anyhow withOUT leverage restrictions ).

In a nutshell , I'm suggesting everybody use same broker. Pairs to trade? that I'm not sure what you guys will go with.

I yield the floor.

Ps: I have to say it again, you are the MAN.

infofirst:



Thats exactly what I have always believed too. If you can not manage $100. You can never manage $100,000. Underfunding na just excuse.

I love this!
Meditation is still on on this.
Great work Infofirst.

rchwiz:


Pls keep qwayet

Is it up to this?
Honestly, I love what XAUTrader4L said.

TheYoda:
1 month is not bad idea, the speed of people chasing phantom will reduce.

I like this too.

Rules are ironed out before the competition start, to get everybody on the same page.

infofirst I'd suggest everybody download and use ICMarket ( you want to join the competition, use ICmarket, that small price to pay )

Why ICMarket, so we all know we are on the same footing, no cheating or what have you, we know ICMarket LEVERAGE WILL WORK THE SAME ON ALL THE COMPETITORS (that way, I won't go and join one broker in Moldova that allows to trade anyhow withOUT leverage restrictions ).

In a nutshell , I'm suggesting everybody use same broker. Pairs to trade? that I'm not sure what you guys will go with.

I yield the floor.

Ps: I have to say it again, you are the MAN.

One month will also give him room to breath. It's not easy conducting a bi-weekly contest.

I'm simply saying we should have a rule not subject to change for a fixed period of time.

A rule that allows fair trading ground for all players.

I think having the contest for a month is also a good idea. But i feel 2 weeks seems more flexible.

this contest shouldn't be about becoming top 3 or cash prizes, but developing a system, psychology & risk appetite that works.

@infofirst If you looking for profitable traders for a sponsorship use their overall m/m gain (you have the data from march).

TheYoda:
1 month is not bad idea, the speed of people chasing phantom will reduce.

I like this too.

Rules are ironed out before the competition start, to get everybody on the same page.

infofirst I'd suggest everybody download and use ICMarket ( you want to join the competition, use ICmarket, that small price to pay )

Why ICMarket, so we all know we are on the same footing, no cheating or what have you, we know ICMarket LEVERAGE WILL WORK THE SAME ON ALL THE COMPETITORS (that way, I won't go and join one broker in Moldova that allows to trade anyhow withOUT leverage restrictions ).

In a nutshell , I'm suggesting everybody use same broker. Pairs to trade? that I'm not sure what you guys will go with.

I yield the floor.

Ps: I have to say it again, you are the MAN.

Seconded.

And please give us one month. 2weeks is too short.

One month please.