T2W Competition

[Scotty2Cues]

To maybe settle the debate about what returns are possible, what strategy etc is best, how about a Forex competition starting in January. We start with a £10k MT4 demo account and anything goes?

But then I suppose most serious scalpers wont have the time to be interested....

 

[HowardCohodas]

Why Forex?

 

[Scotty2Cues]

Why Forex?

Im happy with anything as long as we can all start from the same base

 

[Scotty2Cues]

We donate a gift (unwanted chrimbo pressies perhaps :cheesy or cash prize each for the winner

 

[Scotty2Cues]

Maybe have a limit as to max % risk per trade to make it a bit more realistic?

 

[Lodian1019]

Would be up for this if futures is ok? MT4 not used before but adaptability is part of it I guess.
Anything goes I think is a fair deal, as long is there is no reset capability on this platform.

Lodian

 

[Scotty2Cues]

i suppose it doesnt have to be MT4, just as long all statements can be verified. Could even include live trades as its all percentages so dont need to put lot size, acount size or £s made on each trade.

 

[Lord Flasheart]

There used to be regular comps evry month

Easiest way is to just use a demo account,otherwise it gets complicated. Cash prizes would be good. They could even charge an entry fee. Theres a fortune for anyone who wants to set up a site that offers simple forex comps,monthly,weekly,daily,hourly etc. You pay £5 to enter winner gets 50% etc.Just like poker sit and go games. But you are right the demo account needs better controll than the ways comps are at the mo where you need to turn £10,000 into £100,000 in a week to win

 

[Hotch]

A few thoughts:

I think people should be able to risk what they want. After all, we can always find out what the returns would of been had they risked the same amount or whatever.

We don't need to start with the same size account, % is what is being discussed I think.

Why not real accounts? I'm willing to punt a smallish account "for teh lulz"

Get Sharky to put up 10k for whoever makes the most :clap:

 

[Lightning McQueen]

i'm up for joining you guys in a comp, the problem i think will be finding one out there that fits everyones needs/style etc.

for starters i believe we need one that provides a leader board, otherwise the thread will lack interest and of course that all important competitive edge for the entrants and thread followers.

found a couple of forex comps and have a leader board -

for the lovers of the fast and furious - http://instaforex.com/contest_forex_sniper.php

for those that may want to swing a bit - http://instaforex.com/contest_forex_scalping.php

oanda have one where you can set up your own - https://fx2.oanda.com/mod_perl/fxcontest/fxcontest.pl?rm=contestHome

to accommodate t2w entrants who enter different comps i propose we first look see if the poll option can serve as a t2w leaderboard, if that's a non runner we can have a closed dedicated leader board thread, thereby keeping track of how the locals are doing, i'll volunteer to update things. other than that it's up to you guys and who wants what

 

[shadowninja]

What happened to the old one that existed on here?

 

[Lightning McQueen]

What happened to the old one that existed on here?

they had technical issues i believe and were dropped. the share comp was the best i thought, a lot of fun and had the benefit of £500 monthly prize to the winner! sponsered by finspreads i believe? can't remember it was a while ago now.

 

[Scotty2Cues]

All sounds promising.

Think the competition needs to run longer than a month so skill plays a bigger role.

It would be a doddle to do if everyone was honest with their trade statements (no need to post lot or account size) , then it wouldnt matter if it was live, demo, forex, stocks, account start size etc.

 

[Lightning McQueen]

for sure, i personally would hope that this would be an ongoing comp that lasted as long as members wish to participate. the problem will arise in trying to accommodate everyone. keeping things above board and verifiable will be key.

 

[HowardCohodas]

Bummer. My Forex skills suck.

 

[barjon]

I think Sharky has got his back-room techies working something up, but not sure when it will hit the boards.

I'll ask him to post on here

jon

 

[Scotty2Cues]

Bummer. My Forex skills suck.

Must be able to include stocks, indices etc..

(changed from indexes lol)

 

[barjon]

If we wanted it to be a learning experience as well as a straight competition it'd be good to get participants to declare the strategy they were going to use. Nothing detailed, just broad outline.

jon

 

[Lodian1019]

Yes also projected trades per day max and daily profit target perhaps if you where looking at it for the learning experience side more. I would like to do one of these if futures was part of it. Just that way I would beat everyone. (Yeh I said it)#

Lodian

 

[JahDave]

I'm up for it.............Let me know when we start.........You can message me here on t2w...