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Nairaland Forum / Nairaland / General / Business / Forex Trade Alerts: Season 22 (386246 Views)
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Re: Forex Trade Alerts: Season 22 by Nobody: 6:48am On Jan 09, 2022 |
Wahala. How do I go about this? @everyone.
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Re: Forex Trade Alerts: Season 22 by exmaysn12000: 6:48am On Jan 09, 2022 |
infofirst: I think it's only the maximum DD u can set on fxblue. I will suggest you put maximum DD at 10% since daily DD not possible. But you can still disqualify on daily DD, this will be done by you manually, you will just click on each contestant, then click on the person's FX live profile, then click on risk, you will see all you needed including DD drawdown. Like the attached screenshot. once its more than 5%, you disqualify the person.
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Re: Forex Trade Alerts: Season 22 by exmaysn12000: 6:55am On Jan 09, 2022 |
KingPipmarshall: If you haven't place any trade on your 10k account, then you are good to go. Just join |
Re: Forex Trade Alerts: Season 22 by samfelly: 6:56am On Jan 09, 2022 |
exmaysn12000: No Daily DD, mate |
Re: Forex Trade Alerts: Season 22 by exmaysn12000: 7:02am On Jan 09, 2022 |
KingPipmarshall: No issue, you are good
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Re: Forex Trade Alerts: Season 22 by exmaysn12000: 7:04am On Jan 09, 2022 |
samfelly: Yep, I just explain how the host, @infofirst can track d Daily DD and disqualify accordingly in my recent post to him |
Re: Forex Trade Alerts: Season 22 by samfelly: 7:09am On Jan 09, 2022 |
infofirst: FTMO is really the best approach to help track Daily DD, but the 14 days is frowned upon by all involved. Should we tread Donsheddy's suggestion of TWO PHASING the competition? Though is it a lot of work, I agree 2 Likes |
Re: Forex Trade Alerts: Season 22 by samfelly: 7:13am On Jan 09, 2022 |
exmaysn12000: Okay. Lemme go find it. |
Re: Forex Trade Alerts: Season 22 by exmaysn12000: 7:15am On Jan 09, 2022 |
samfelly: Since we have all created ftmo 14 days trial I think this suggestion is good for this round and u implement the manual disqualification using the steps I gave earlier @infofirst. So in the 2 phase completion, target should be 5% each then. But what if trader A hit 5% first in phase 1 and trader F hits 5% first in phase 2, how do we select d winner? |
Re: Forex Trade Alerts: Season 22 by samfelly: 7:23am On Jan 09, 2022 |
exmaysn12000: Hmmm, the bolded is also another way to go about the Daily DD issue, but it will worn him out, bro. It involves a terrible lots of clicking back and forth o! This approach no go easy for infofirst, chief, believe me |
Re: Forex Trade Alerts: Season 22 by exmaysn12000: 7:25am On Jan 09, 2022 |
samfelly: I disagree boSs, this can be done in few seconds per contestant. Just few clicks to check. 3 clicks in total |
Re: Forex Trade Alerts: Season 22 by samfelly: 7:28am On Jan 09, 2022 |
exmaysn12000: Wow, I respect, bro, you really have ur thinking cap on. I never really saw it like this. Thank you. Hmmm, I still dey ponder on that revelation u made. I don give up |
Re: Forex Trade Alerts: Season 22 by samfelly: 7:37am On Jan 09, 2022 |
exmaysn12000: Yes, 3 clicks forward, but 2 clicks back, to check the next participant. 5 clicks in totally. And how many participants would we be having? And he need to do this every blessed day o. Anyways, if Infofirst sees nothing wrong in doing dat then we are all game! Abi, make we pay Gasive to go hire person for Oluwole make he create and design website close to fxblue, but he go come add the Daily DD we are all looking for? 1 Like |
Re: Forex Trade Alerts: Season 22 by FreshGuy2(m): 7:39am On Jan 09, 2022 |
jammer777:i just pray the sl hunting doesn't get to that 1.5910 area and above otherwise na to ashes e go burn my small account. 2 Likes |
Re: Forex Trade Alerts: Season 22 by samfelly: 7:42am On Jan 09, 2022 |
Piptocoin: They really did that? They clipped the guys wings? So no future business for them with that dude? Ah, dem tough o |
Re: Forex Trade Alerts: Season 22 by Jameselias: 7:44am On Jan 09, 2022 |
on fxblue make max dd 5 percent , chikena. 4 Likes |
Re: Forex Trade Alerts: Season 22 by Donsheddy: 7:50am On Jan 09, 2022 |
exmaysn12000: that will be stressful..... and another thing with fxblue one can escape this daily d.d cus fxblue update its record every 1hr abi 30 mins... the result won't be real time..... if we really want to go with the 1 month then two phase competition should be it..... the profit and losses and both phases will be added to give us the real winner.... Example Trader A made in Phase 1 +3% and in phase 2 + 5% --- Total Profit for trader A = +8% Trader B -. Phase 1 -2% and phase two +13% ---- total profit +11% So trader B won the contest... Something like that..... Any trader that hits daily d.d shouldn't in phase 1 won't join the phase 2.... Simple 3 Likes |
Re: Forex Trade Alerts: Season 22 by Nobody: 8:17am On Jan 09, 2022 |
If ftmo main prop account runs for 14 days, then why are we trying to change the contest from 14 to 30 days? 1 Like |
Re: Forex Trade Alerts: Season 22 by BrightFuture48: 8:49am On Jan 09, 2022 |
Donsheddy:This is best way to go if the contest should last for 1 month. Taking the advantage of ftmo matrix is very important in this type of competition and its simulate a real challenge scenario and ability to get used to this prop firm platforms. if not for 14 days time constraints ftmo platform is the BEST but still that can be easily overcome with two phase challenge. Even no need to stress about fxblue metrics again. FTMO individual traders matrix is self explanatory and security tight against any fraud. Also no one will see what other traders open orders are which will further prevent cheating. Caveat: if any trader achieve 10% in the first phase then no need for second phase . But if there is no outright winner in the first phase, then the above model should be used. That is the challenge should run full course of 2 phases and total percentage gain in both phases should be added and the winner is the one with highest percentage gain... Balance. Cheers. 1 Like |
Re: Forex Trade Alerts: Season 22 by Gasive: 8:56am On Jan 09, 2022 |
Donsheddy: Seconded. |
Re: Forex Trade Alerts: Season 22 by Donsheddy: 9:12am On Jan 09, 2022 |
BrightFuture48: connecting to fxblue will still be needed so that traders who ain't part of the competition can also learn from other competitors...... and other traders that didn't make it to the top will gain from the knowledge and trading style of others... that will enable quick growth.... I for one learnt a lot from femora trading style during gabsonfx contest...... only the host should have access to every traders matrix.... he can decide to make it public that will help ease him the stress of finding defaulters 1 Like |
Re: Forex Trade Alerts: Season 22 by Piptocoin: 9:25am On Jan 09, 2022 |
samfelly: It is really simple. If we should go the two-phase route, then trader A will be disqualified having met the 10% DD disqualification criterion. This is because the phases are not independent of each other...rather, they are a unit — a competition broken down into halves, a technical continuation of the previous two-weeks so that decision is based on the summation of the statistics generated on the two two-weeks competition. I don't know whether you get my drift but I can give further clarification if needed. 1 Like |
Re: Forex Trade Alerts: Season 22 by exmaysn12000: 9:27am On Jan 09, 2022 |
Donsheddy: This method is ok |
Re: Forex Trade Alerts: Season 22 by Piptocoin: 9:36am On Jan 09, 2022 |
samfelly: I agree with you on the fact that it would place a herculean burden on Infofirst to track down daily drawdown. Besides, he has his numerous personal affairs which demand his attention besides babysitting the competition. I understand his reason for using the ftmo platform to help him track this data. I will suggest a maximum DD of 5% which will automatically take care of both the minimum and maximum DD of 5% and 10% respectively on ftmo. The reason is that anyone who is able to meet the profit target of 10% without losing 5% of their equity (not balance) will have a good probability of meeting their profit target on ftmo evaluation and funded accounts. 4 Likes 1 Share |
Re: Forex Trade Alerts: Season 22 by exmaysn12000: 9:36am On Jan 09, 2022 |
BrightFuture48: I disagree with this your caveat, this will encourage 1 hit wonder. All traders should be mandated to continue in d second phase. Profit target for each phase should be what ftmo stated, which is 5% for 14 days. So both phase target should be 5%. Total of 10% a month. So winner should have a minimum average of 5% for both stage, for example trader can have 2% in one phase and 8% in the second phase. Still an average of 5% If we have more than 2 contestant with more than an average of 5%, the highest go home with d price. Any trader with violation in the first stage is not qualified for the 2nd stage. Fxblue is still important, it makes everything to be well organized in a page, compare to having to click each participant ftmo link, but the host can have all participants link for his own personal record @infofirst 1 Like |
Re: Forex Trade Alerts: Season 22 by Nobody: 9:40am On Jan 09, 2022 |
Seconded. Let's not complicate things pls Piptocoin: 2 Likes |
Re: Forex Trade Alerts: Season 22 by Piptocoin: 9:41am On Jan 09, 2022 |
samfelly: Asin eh... It is what it is. There may be no future business between them as long as the guy continues using that strategy which resulted in the termination. I doubt he will stop using it as it is his bread and butter strategy. 1 Like |
Re: Forex Trade Alerts: Season 22 by samfelly: 9:46am On Jan 09, 2022 |
Piptocoin: Yes, further clarification, please 2 Likes |
Re: Forex Trade Alerts: Season 22 by Travoski: 10:09am On Jan 09, 2022 |
[quote author=Donsheddy post=109193084][/quote] Lol. I carry pass am. Sorry for the late reply. Please check your email |
Re: Forex Trade Alerts: Season 22 by BrightFuture48: 10:11am On Jan 09, 2022 |
exmaysn12000:Lol take it easy brother. The whole purpose is to simulate the real challenge and not just for the fun of it while maintaining proper risk management. Some trader can hit the target in just one trade/day with killer lot.... I doff my hat for my boss here GabsonFX but not everyone can do that, and also the rule of Max lot of 0.1 and 5 orders @ a time we checkmate such "wonder" lol. But if with such risk and trade management rules you can achieve 10% in 14days that is beyond luck but from well thought out strategy and consistent trader. And why wouldn't such trader be given the winner prize when the real objective is to attain that 10% within the 10 minimum days which happens to be highest now in prop firm if my memory serves me well, MFF and E8 have shorter days. 1 Like |
Re: Forex Trade Alerts: Season 22 by Piptocoin: 10:14am On Jan 09, 2022 |
samfelly: hahahaha. This really got me laughing. The simplest way I can break it down is to let you know we are talking about a competition - not 2 competitions. Even if we have three phases in that single competition it doesn't change the fact it is just one competition with three stages or phases. This means that the results of those three stages must be added to have a unified result. If that unified or added result meets any of the competition rules then decision will be taken based on that rule. For example, the rule in a hypothetical competition states that a trader will be disqualified if they lose 12% of their equity. The competition will be held in three stages or phases. Stage 1 DD Trader A — 6% Trader B — 2% Trader C — 5% Stage 2 DD Trader A — 2% Trader B — 7% Trader C — 3% Stage 3 DD Trader A — 3% Trader B — 4% Trader C — 1% After the three stages of the competition have been completed spaning 3 weeks...that is 1 week for each stage...then the competition is decided like this: Total Drawdown Trader A — 11% Trader B — 13% Trader C — 9% Guess who gets disqualified for breaking the 12% DD rule of the competition....yeah, trader B. Trader A narrowly escapes disqualification. You see, the three stages are still one competition, not two competitions and the result gotten in each stage will have a huge impact on the fate of the trader when they are added or summed up to see if the flout or meet the competition rules. Hope you grab |
Re: Forex Trade Alerts: Season 22 by BrightFuture48: 10:16am On Jan 09, 2022 |
Piptocoin: You're right and that's good observation. As much the percentage gain for both phases are to be added do also should be done for DD. |
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