New T2W Forex Contest - Starts Sun, 15th May

[Pat494]

The following traders have yet to make a trade:

kam2001
trader_dante
Lightning McQueen
Superspurs
Sinimini

They are thinking folks

not sleeping - I hope

 

[kimo'sabby]

Two ways of beating me on this comp:1) Work like a dog. 2) Be luckier.

There is no third way.

 

[megamuel]

Two ways of beating me on this comp:1) Work like a dog. 2) Be luckier.

There is no third way.

It say's you are second to last with -$8,196.00 loss?

 

[megamuel]

Bloody hell Redart - 71 trades, only 2 of them losers! That's good going!!! I see you have set up an autotrader, does that mean you are using an EA or just that it tracks your metatrader account?

 

[Devilicus]

where the update/leaderboard Sharky?
Im not sure who is actually playing from looking at the forexdesk leaderboard.
Is it just the people who have ''#1'' after their name and are on ''0 weeks'' in the 'age' column?

is the winner the one with the most profit in 'pips' or 'cash' column?

This 'financier`1' guy is always out in front, but is he part of the T2W comp or nothing to do with it?
Doesn't have a '1' after his name.

I'll maybe play the next comp. Too busy this weeek

 

[DionysusToast]

Here's my contribution on the 6E for the past week - warts & all.

I am fairly new to this instrument - but I do like it.

Can I not at least get a teddy or something?

 

[Sharky]

Day 4 Update

Total entrants: 25

Current leaderboard rankings:

1. (1) redart 70,338.23
2. (-) financier 67,815.79
3. (17) GlenGary 57,117.20
4. (10) Sharky 56,087.91
5. (7) EK1 53,262.00
6. (6) megamuel 54,232.54
7. (8) rodcar 52,389.29
8. (5) Pat494 51,671.41
9. (9) breadman 51,996.15
10. (13) Trade321 50,187.00
11. (11) c6ackp 49,408.00
12. (14) dmt257 49,031.00
13. (15) Atilla 48,965.24
14. (2) counter_violentmoves 46,495.00
15. (12) stevenkeay 42,394.00
16. (16) steve 41,607.55

NB. Yesterday's ranking are in parentheses.

The following traders have yet to make a trade:

kam2001
trader_dante
Lightning McQueen
Superspurs
Sinimini
Jaffels
trendie
raskoln1kov
ssachinid

 

[kimo'sabby]

It say's you are second to last with -$8,196.00 loss?

Wots ya point boy!? Wots ya point!? I don't see you winning the $100 dollar prize!

Let me spell it out for ya boy! Unless you come first in this competition, you aint got nothin'. Even when you win you only gots $100. Now dya C, dya C it!?

I aint playin for stats boy, i'm playin to win!

 

[kimo'sabby]

Dya c it boy!!!

 

[bbmac]

Kill Joy ?

If this competition is all a bit of fun then that's great, but as readers of this thread will see the current top placed entrant to the competition has made a 40%+ gain on the week so far and the current bottom placed (16th) has made a -18% loss so far this week...and that's the thing...this shouldn't reflect real trading...if it does then I would worry (even for the guy on a +40% gain so far.)

In order to win the competition some entrants are probably using max leverage available (that they wouldn't use in their live accounts) and some will be using a sh!t or bust/disgrace or glory strategy just to win!

The only upside to entering these type of competitions is the supposed glory (certainly not the prize) and as someone else pointed out if you were to enter and trade normally as you do in your live account (which for me involves the aim of consistent unspectacular gains -but I will be here this time next year! ) the chances are you will always get well beaten by someone employing the type of strategy discussed above.

I just hope the less experienced traders reading this thread realise that it is only a bit of fun and probably in no way way reflects the real world of successfull long term trading, particularly at the margins of the leaderboard.

G/L

 

[DionysusToast]

I agree with BBMAC here...

My gains are totally unspectacular but then so are the risks. My profits for the past 5 trading days on the Euro are a mere $805 & losses are $17. This is thoroughly unexciting.

It would be interesting to see a comp that rewarded longevity, although I have no idea how you'd rate that.

Mind you - the guy with 70+ trades and only 2 losses is either a god damn genius or he's pulling a Spanish.

My expectation is that if this comp runs for a month, then the winner will be someone that hasn't made a single trade.

 

[barjon]

Re: Kill Joy ?

If this competition is all a bit of fun then that's great, but as readers of this thread will see the current top placed entrant to the competition has made a 40%+ gain on the week so far and the current bottom placed (16th) has made a -18% loss so far this week...and that's the thing...this shouldn't reflect real trading...if it does then I would worry (even for the guy on a +40% gain so far.)

In order to win the competition some entrants are probably using max leverage available (that they wouldn't use in their live accounts) and some will be using a sh!t or bust/disgrace or glory strategy just to win!

The only upside to entering these type of competitions is the supposed glory (certainly not the prize) and as someone else pointed out if you were to enter and trade normally as you do in your live account (which for me involves the aim of consistent unspectacular gains -but I will be here this time next year! ) the chances are you will always get well beaten by someone employing the type of strategy discussed above.

I just hope the less experienced traders reading this thread realise that it is only a bit of fun and probably in no way way reflects the real world of successfull long term trading, particularly at the margins of the leaderboard.

G/L

True, it's only a bit of fun, bb, but you can peep into the contestants accounts to see if they are trading wisely or otherwise. Hate forex myself, but will probably succumb to the lure of some fun next week.

good trading

jon

 

[kimo'sabby]

Seems like some people feel that they have more to lose than just the competition. That's just the ego distorting the facts. Jesse Livermore was right, seems like some things never change.

 

[kimo'sabby]

Let me tell you all wot this competition is!! R U listenin'!? U all listen 2 me now!!

This comp is a free shot at winning one hundred dollars every week! Don't let your weak minds turn it into something that it is not!

U all listen 2 me now!! I'm tellin U! I'm tellin U all!!

 

[the hare]

This comp is a free shot at winning one hundred dollars every week! Don't let your weak minds turn it into something that it is not!

You are right, and anyone with any sense will approach it as such.

Forexdesk (or whatever its called) is a business. The only way sharky's going to earn IB rebates and recoup his investment is for people to use the platform. If they can get punters overleveraging and developing bad habits in the name of "a bit of fun", then there's a decent chance of making a few bucks out of them in the longer term. Quite frankly, this is precisely the sort of irresponsible BS that would be discouraged on a legitimate trading site.

Sharky could address this, and he could actually promote the competition in such a way as to attract quality participants. I rarely predict, but in this case I predict he definately wont.

The idea behind the whole set up is completely irresponsible. If you take a look at his competitors, there are cases where traders who where actively being promoted and being followed by mug punters who dropped 70% of an account in a single afternoon session. Dont get me wrong, its a half reasonable business idea, but it really has no place being promoted on whats supposed to be a trading forum (assuming that T2W actually is supposed to be a trading forum).

 

[kimo'sabby]

All U 'serious' traders just go ahead and start your own competition! Then all us non-serious traders can see how it's done for real!

I hear y'all talkin, but i don't see no walkin'!!

 

[barjon]

Blimey, hare. Is there nothing that happens on T2W to which you wouldn't attach the worst possible motives.

 

[the hare]

Blimey, hare. Is there nothing that happens on T2W to which you wouldn't attach the worst possible motives.

There's no need to get so defensive about it

There's nothing morally wrong with juicing punters and I hope you make some decent wedge out of it. Thats a perfectly good motive.

Time will tell. Either sharky will continue to operate as he's started out with this competition, and operate along the same lines as the rest of his competitors, or he'll take a more responsible approach (which I doubt, and would advise against from a commercial perspective)

However, claims that this is being done to benefit traders are complete nonsense and you know it (and we know you know it).

 

[kimo'sabby]

This site is full of people who don't trade for a living. The only professional i know of is Arabian, there is probably a handful more who are actually employed as traders. The rest is made up of casual home punters.

Why is a trading competition on T2W so bad? Because the noobs may get hurt? Purrrlease...give me a break.

 

[kimo'sabby]

Here's my contribution on the 6E for the past week - warts & all.

I am fairly new to this instrument - but I do like it.

Can I not at least get a teddy or something?

I see Dion has been working hard on paint shop pro this morning.