city index trading academy

[pboyles]

Ashraf Laidi @alaidi
"You're going to have to demonstrate to me you're worth £100,000" CityIndex CEO to the Finalists: cityindex.co.uk/trading-academ… #TradingAcademy
about 1 hour ago

Looks like the get out clause coming into play now. I thought the winner got the prize, not the winner who was also deemed to be worth £100,000. Which one of them is worth £10, all theyve done is lose money.

 

[donaldduke]

A
Looks like the get out clause coming into play now. I thought the winner got the prize, not the winner who was also deemed to be worth £100,000. Which one of them is worth £10, all theyve done is lose money.

Well Shazad is up 8K for the competition. If he wins this week again, with a decent profit, i cant see how they can deny him the prize??

 

[donaldduke]

Is the prize cash or will it be 100K in a city index account (that they can trade with but never withdraw?)

Someone i know thinks it will be the later. I think they maybe right.

 

[pboyles]

Well Shazad is up 8K for the competition. If he wins this week again, with a decent profit, i cant see how they can deny him the prize??

I think percentage wise he may still be negative or close to BE, they went from 5k accounts to 100k accounts so one reasonable week will wipe out a lot of losses but percentage wise I doubt he has made anything.

 

[donaldduke]

I think percentage wise he may still be negative or close to BE, they went from 5k accounts to 100k accounts so one reasonable week will wipe out a lot of losses but percentage wise I doubt he has made anything.

First four weeks for him:

+0.06%
-3.44%
-0.58%
+8.30%

So up about 4.25% in 4 weeks or averaging a very respectable 1%+ a week.

He actually trading well, he knows when to stand aside (like week 3 taking only 1 trade when trading stocks which he probably wasnt happy trading) and when to press hard like in week 4 with FX.

 

[random12345]

First four weeks for him:

+0.06%
-3.44%
-0.58%
+8.30%

So up about 4.25% in 4 weeks or averaging a very respectable 1%+ a week.

He actually trading well, he knows when to stand aside (like week 3 taking only 1 trade when trading stocks which he probably wasnt happy trading) and when to press hard like in week 4 with FX.

My understanding of the video is that he made £8,000 of this week's profit from a single £1000/pt bet on the AUDUSD (i.e. 8pts). He would have barely covered the margin requirements. Calling that 'trading well' may be a bit kind.

 

[Vasco da Banana]

As with most competitions, the 'winner' will be the one who makes a potentially suicidal punt and gets lucky. It might be more interesting to see what the victor does with his Bank of CityIndex account money.

 

[NVP]

no way the winner gets £100k cash............watch for the escape clause or dilution factor

ALSO - not sure what this is achieving if most people are down on accounts........thats not gonna get people into trading is it ?

and it reflects that the trainers are not exactly genius either .......(?)

N

 

[NVP]

As with most competitions, the 'winner' will be the one who makes a potentially suicidal punt and gets lucky. It might be more interesting to see what the victor does with his Bank of CityIndex account money.

no change there then............completely the wrong message to be providing to potential traders ?

poison challice syndrome indeed for the sponsors ?

N

 

[Hoggums]

It'll be interesting to see what happens this week, whether Shazad commits suicide with a single £1000pp trade that goes bad and whether the others decide to follow suit and end up in a similar situation. There's no room for mistakes with trades that size.

 

[tim3]

As with most competitions, the 'winner' will be the one who makes a potentially suicidal punt and gets lucky. It might be more interesting to see what the victor does with his Bank of CityIndex account money.

Exactly that "trade" was little different to betting at a casino.

 

[NVP]

It'll be interesting to see what happens this week, whether Shazad commits suicide with a single £1000pp trade that goes bad and whether the others decide to follow suit and end up in a similar situation. There's no room for mistakes with trades that size.

and they call that sensible trading ?..........perhaps anyone that does this will by default lose out on the prize due to irresponsible trading

nice out for saving £100k ?

N

 

[Lord Flasheart]

Yep its totally realistic and now perhaps people will understand how hard this game is and what we are up against. I think nvp has a point,there must be a get out clause about profits etc. Mind you they probably think theyve got that back in free advertising

 

[pboyles]

Yep its totally realistic and now perhaps people will understand how hard this game is and what we are up against. I think nvp has a point,there must be a get out clause about profits etc. Mind you they probably think theyve got that back in free advertising

Ashraf is already talking about people needing to prove theyre worth 100k. Seems you have to win and be considered 'worth it'by the CEO.

https://twitter.com/search?q=You're...onstrate to me you're worth £100,000&src=typd

 

[pboyles]

First four weeks for him:

+0.06%
-3.44%
-0.58%
+8.30%

So up about 4.25% in 4 weeks or averaging a very respectable 1%+ a week.

He actually trading well, he knows when to stand aside (like week 3 taking only 1 trade when trading stocks which he probably wasnt happy trading) and when to press hard like in week 4 with FX.

I think what actually happened was he decided not to add to his losses in week 3 and then got a lot of stick about not trading and had to trade like mad in week 4. Anyhow at £1000 a point its only going to end up one way.

 

[D70]

I cant even bring myself to watch the episodes.
It's pure turd.

 

[justtrader]

Ashraf is already talking about people needing to prove theyre worth 100k. Seems you have to win and be considered 'worth it'by the CEO.

https://twitter.com/search?q=You're...onstrate to me you're worth £100,000&src=typd

I wonder what Ashraf thinks he himself is worth?
The trainers are classic "you should have done this" "you should have done that"
Do both of them actually trade?

If both these clowns were any good, they would have run a account alongside and shown them what opportunities they missed!

 

[barjon]

............If both these clowns were any good, they would have run a account alongside and shown them what opportunities they missed!.........

Perhaps the trainers should be in the competition as well - that would be interesting

 

[Lord Flasheart]

Perhaps the trainers should be in the competition as well - that would be interesting

I wonder what Ashraf thinks he himself is worth?
The trainers are classic "you should have done this" "you should have done that"
Do both of them actually trade?

If both these clowns were any good, they would have run a account alongside and shown them what opportunities they missed!

precisely.At least it has shown the true worth of any mentor or trainer,SFA

 

[Lord Flasheart]

There will of course be those now saying that this sort of thing proves the markets are random