T2W Forex Contest - Week 6

Sharky · Jun 19, 2011

How to enter

Entry is free and takes just a couple of minutes. First, sign up on ForexDesk, using the invitation code "T2WCOMP" and your T2W username. Once you're activated your account, log in and create a new practice account using the default settings. You can call it whatever you like but you must add "#6" to the name, to enter this week's contest. Then make at least one trade during the week to qualify for the prize.

More detailed instructions here: http://www.trade2win.com/boards/t2w...ew-t2w-forex-contest-starts-sun-15th-may.html

Rules

- Contest starts tonight Sunday 19th June at 6pm ET, 11pm BST.
- Contest finishes after 5 days, on Friday 24th Jun at 6pm ET, 11pm BST
- Enter any time before the contest finishes.
- The winner will be judged by their P&L for the week.
- Only entry per person

Prizes

- Top Trader (Highest P&L)

This week's prize is a stylish Panasonic Lumix DMC-FS16 14.1 megapixel camera.

Good Trading! :clover:

GlenGary · Jun 19, 2011

hey Sharky, Hope weekend was great for ya,

Got a problem, How do delete accounts on Forexdesk?

i reached the maxium, and all can be deleted if possible..

Thanks Buddy, and again, thanks for the contests

GlenGary · Jun 20, 2011

dang, this stinks, im ready to roll,

Sharky · Jun 20, 2011

GlenGary said:
dang, this stinks, im ready to roll,

Wow.. you already hit 10 accounts. No worries, we'll sort this out for you this morning, stay tuned!

Sharky · Jun 20, 2011

We've changed the limit from 10 to 20 accounts. So you should be fine now. We'll be added a delete account feature shortly. Thanks!

GlenGary · Jun 20, 2011

awesome, Thanks Sharky, Best of luck to everyone this week,

EK1 · Jun 20, 2011

The week's first update of the competition leaderboard.

Good trading all! :clover:

Atilla · Jun 20, 2011

Hi Sharky,

I think this bug may have been mentioned before but if I partially close a trade Stops and Limits get zeroed.

See image below.

Strangely enough I closed two of the positions to avoid margin going into negative territory. I'm now almost $2000 in the red.

Not fair play ref! - Otherwise I'd be well in profit. :|

Sharky · Jun 20, 2011

You're right it was previously reported and we're currently working on updating it so that partial close of a position doesn't trash your stop/limit. It should go live this week, but until then please can everyone be careful doing partial closures, you'll need to set new stops/limits.

Lightning McQueen · Jun 20, 2011

Atilla said:
Not fair play ref! - Otherwise I'd be well in profit. :|

no good squealing, it's too late! the pics up with the loss for today :cheesy:

you just know hoodoo the voodoo gonna stick the pins in

Atilla · Jun 20, 2011

Lightning McQueen said:
no good squealing, it's too late! the pics up with the loss for today :cheesy:

you just know hoodoo the voodoo gonna stick the pins in

I think he'd be better off working as an accupuncture man. He is very picky and selective isn't he...

I don't particularly like red though and if you are reading this, dear Mr Hoodoo - I would like to you to stick a bit of blue on your screen captures.

eg: WINNER

hoodoo man · Jun 20, 2011

Atilla said:
He is very picky and selective isn't he...

Yes I am. Do you think those qualities have anything to do with trading success?

Atilla said:
I don't particularly like red though and if you are reading this, dear Mr Hoodoo - I would like to you to stick a bit of blue on your screen captures.

eg: WINNER

Ask and it shall be given you.

Atilla · Jun 20, 2011

hoodoo man said:
Yes I am. Do you think those qualities have anything to do with trading success?

Ask and it shall be given you.

You should have gone to spec savers dude...

If you are trying to hurt my feelings Mr yippeee yaahooo doo man it's not working...

Why are you so happy when I lose and sad when I make money?

Haven't you got anything better to do other than place £1000 per point bets with CMC! How much of your €35m do you have left.

Atilla · Jun 20, 2011

Hi guys on a little more serious note...

Last night I really went to town and placed 24 entry orders - 4 for each of the pairs using BB breakouts.

Difference this time is I place a long and short at the top and bottom of the BB. 4 trades.

R1:R2 determining entry exit based on BBs and visual inspection etc.

My objective was to use manual intervention to take profits where they became visible. I also did some scalping before setting off to work.

I'm really amazed at 13 Wins and 3 losses. Two of which was deliberate to bring my margin into positive limits.

I have very little of time at work so checking the site once in a while if I saw profits I took them.

In all sincerity the 24 entry orders were just being hit left right and centre. Out of the 24entry order 16 have been hit.

I've also looked through two of my great books by Bulkowski on breakout chart patterns over the weekend and there is nofink on BBs. :-0

So far so good. Good luck to you all too

EK1 · Jun 21, 2011

Today's update of the competition leaderboard sees davidesassi move ahead, followed by redart and timsk.

Good luck for the rest of the week.

Sharky · Jun 21, 2011

Sharky said:
You're right it was previously reported and we're currently working on updating it so that partial close of a position doesn't trash your stop/limit. It should go live this week, but until then please can everyone be careful doing partial closures, you'll need to set new stops/limits.

I'm pleased to inform everyone the issues with partial closures are now all fixed.

- If you partially close a position, the stop and limits for that position remain.
- Stop and limits on a partially closed position always fully close the position (it may still display a quantity for that delayed order, but we'll update it to simply 'all' later today/tomorrow).
- The profit column on a partially closed position now shows the correct profit/loss (before it displayed the previous profit/loss of the full position).

So go ahead and partially close as many positions as you like!

Sharky · Jun 21, 2011

So something we've started to notice, are that players are competing in the contest with private accounts. These don't show up on the leaderboard and you can't view them on the site. I'll be contact those people to see what the motivation is. Are you just trying to remove the account, because we currently don't have the deletion option working; or are you worried that other traders might be mirroring your trades?

I'd also like to get players feedback as to whether:

- Private accounts should not be allowed for the contests
- Updates should remain live or whether trades should be reported on a delayed basis (say 5 or 10 mins)
- Right now you can follow an account, (ie automatically mirror someone's trades) this probably shouldn't be allowed.

I like the idea that everyone's account are public and that all trades are happening in real-time. I understand if someone who might be in 2nd position, is bring blocked from getting into 1st, because 1st position is mirroring their trades. So perhaps the solution there, is to simply make a rule whereby if someone is caught doing this (ie. placing identical trades within say 2 mins of another trader) they are automatically disqualified?

Finally, how do member feel about having the option to make their accounts private, do you think everyone's account should open to everyone else, or not?

Tell us what you think...

barjon · Jun 21, 2011

Sharky said:
So something we've started to notice, are that players are competing in the contest with private accounts. These don't show up on the leaderboard and you can't view them on the site. I'll be contact those people to see what the motivation is. Are you just trying to remove the account, because we currently don't have the deletion option working; or are you worried that other traders might be mirroring your trades?

I'd also like to get players feedback as to whether:

- Private accounts should not be allowed for the contests
- Updates should remain live or whether trades should be reported on a delayed basis (say 5 or 10 mins)
- Right now you can follow an account, (ie automatically mirror someone's trades) this probably shouldn't be allowed.

I like the idea that everyone's account are public and that all trades are happening in real-time. I understand if someone who might be in 2nd position, is bring blocked from getting into 1st, because 1st position is mirroring their trades. So perhaps the solution there, is to simply make a rule whereby if someone is caught doing this (ie. placing identical trades within say 2 mins of another trader) they are automatically disqualified?

Finally, how do member feel about having the option to make their accounts private, do you think everyone's account should open to everyone else, or not?

Tell us what you think...

Sharky

I think part of the fun is seeing how everyone stands and if people in the contest are invisible then I don't think that's on.

jon

Sharky · Jun 21, 2011

Yeah I agree. I think part of the fun is seeing trades in realtime. We should update the rules saying that you're not allowed to make your account private and you're not allowed to follow/mirror someones trades. I know that's a bit difficult to define, but really only matters for 1st place and eligibility of winning the prize. Meaning some pattern of trading for instance making an identical trade within 2 mins of someone else on multiple occasions. Probably leave it up to us judges to decide. Doesn't need to be more complicated than that.

So please can all players unhide their accounts and rest assured anyone caught mirroring trades will not be eligible to win the prize.

hoodoo man · Jun 21, 2011

barjon said:
Sharky

I think part of the fun is seeing how everyone stands and if people in the contest are invisible then I don't think that's on.

jon

I would not be interested in any contest where my positions were shared in real time.
The first and minor issue is that of cheating, by following a competitors trades and therefore increasing own score and rank at the expense of the one doing all the thinking.

The more serious issue is why would I wish to expose where I trade and what my position would be on a real time basis? This is quite insane. I know of size traders who do not even place hard stops with floor brokers or at the exchange due to the danger of exposing their intentions.

If professional prudence interferes with someone's fun, then so what? The competition can still be fun by comparing results on a daily and weekly basis.

I vote that all accounts are made private to prevent cheating and to remove any appearance of impropriety.

T2W Forex Contest - Week 6

Sharky

GlenGary

Active member

GlenGary

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Sharky

Sharky

GlenGary

Active member

EK1

Established member

Atilla

Legendary member

Attachments

Sharky

Lightning McQueen

Atilla

Legendary member

hoodoo man

Active member

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Atilla

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Atilla

Legendary member

EK1

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Sharky

Sharky

barjon

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Sharky

hoodoo man

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