T2W Forex Contest - Week 2 (Prize: Apple TV)

[Sharky]

Look forward to the fixes Sharky

Another point - my stops and limits I think are working but I'm not sure which is which. I had entered quite a few Entry Orders

1. It would be good to be distinguish which were Market and which were Entry orders
2. To see whether trades were Stopped, Limit hit or Closed.

Just want to make sure I understand fully. So you're suggesting on the Open positions table, we add a column showing the order type, like we do on the Delayed orders table?

 

[Atilla]

Just want to make sure I understand fully. So you're suggesting on the Open positions table, we add a column showing the order type, like we do on the Delayed orders table?

Preferrably on the Open and Closed position tables to have a Type column specifying the transaction type. ie

TYPE
Stop Ord
Limit Ord
Entry Ord
Market Ord
Margin Close etc

Many thanks,

 

[trendie]

as a totally tangential interest:

could you tot up the nett amounts made, and nett amounts lost, and see if the result is whether the consensus of retail traders is a losing or winning proposition?
just curious if all the studies about retail traders is true or not.

also, you're probably unwilling to do this, the total amount of trades made, and the pip spread made as "profit" by the forexdesk company.
just curious how profitable a spread-firm could be?!

 

[kimo'sabby]

People in this business are rewarded for success, everyone is rewarded for success. Therefore I see no reason to give a 'handicap' to the weaker traders, when over time they should in fact develop better strategies their self to win. Even the professionals have an 'off week'

Very true.

As the comp stands ('glitches' and 'fixes' aside) there's absolutely nothing wrong with it. The competition allows for various strategies to be applied ranging from using a full clip in just one pair or diversifying into multiple pairs.

But some people don't like that (i wonder why, wouldn't have anything to do with being rubbish at trading would it?)

The same people seem to want to attach a stigma of luck to the traders using a full clip (i wonder why, ditto ditto)

This 'competition' will eventually be watered down to suit the non-competitive types. It will become a compejournal charts and all.

Bet you can't wait can ya.

 

[counter_violent]

Did you notice how Counter_V didn't seem to have any problems making 300 trades last week? (he only made about 12k)

24 trades ...so yep 300 is close

 

[Sharky]

Looks like there are two separate issues. Firstly with limits not working and secondly an issue with negative margin still showing on some accounts preventing you from closing positions or cancelling orders. Thanks for the feedback, we'll look into it this morning.

We've tested the limits and they appear to be working fine. I think it may have been a knock on effect to the previous problem with negative margin. That's now fixed, and ALL accounts are behaving normally again.

Preferrably on the Open and Closed position tables to have a Type column specifying the transaction type. ie

TYPE
Stop Ord
Limit Ord
Entry Ord
Market Ord
Margin Close etc

Many thanks,

Ah right, so on the overview page, rather than the trading page? Yes we can do that.

as a totally tangential interest:

could you tot up the nett amounts made, and nett amounts lost, and see if the result is whether the consensus of retail traders is a losing or winning proposition?
just curious if all the studies about retail traders is true or not.

also, you're probably unwilling to do this, the total amount of trades made, and the pip spread made as "profit" by the forexdesk company.
just curious how profitable a spread-firm could be?!

=) Okay, so we definitely intend to add some aggregated stats, we've codenamed it the FDometer and it'll show what % of traders are long/short each currency pair, as well as total trades and showing net profit/loss across all accounts each day would be interesting.

Folks, you should really add these ideas to the Feedback tab, as there are some good ones coming through and there's still a day to choose the best suggestion of the week.

 

[Sharky]

Friday competition update.

The current leaderboard looks like this:



Just a reminder that the contest will end at 6pm ET, 11pm BST tonight. Results will be announced tomorrow along with details about the Week 3 contest, which starts on Sunday with the hashtag, #3.

Good luck!

 

[kimo'sabby]

24 trades ...so yep 300 is close

Come on, let's be reasonable, and let's face facts.

Once some real traders get their teeth into this comp, 50% profit will just about get a person to first base.

At the moment, most competition entrants don't stand a chance, unless they get lucky.

Some are going to be better off just treating it as a journal.

 

[Depth Trade]

(yawn) I'm just getting started.
If you factor in MaxDrawDown%, I'm actually winning. That's including two platform errors.

 

[Atilla]

(yawn) I'm just getting started.
If you factor in MaxDrawDown%, I'm actually winning. That's including two platform errors.

What's your tag DT?

Can't see you

 

[Depth Trade]

What's your tag DT?

Can't see you

Hello Atilla, I am using the name Depth Trade and the account name is Classic FX 1.0
Go to the Accounts list, click on 'Users' until it lists users names in alphabetical order, then scroll until you see the name Depth Trade.

Do you know how I can find Kimo'sabby on there, his name is no longer listed.

 

[Atilla]

Hello Atilla, I am using the name Depth Trade and the account name is Classic FX 1.0
Go to the Accounts list, click on 'Users' until it lists users names in alphabetical order, then scroll until you see the name Depth Trade.

Do you know how I can find Kimo'sabby on there, his name is no longer listed.

What I do is simply type

#2

On the search area and click search to get all of the week 2 competition players and I don't see you.

Why not just call your self Depth Trader#2 as the instructions suggested?

You can rename your self too.


Good luck matey.


Unlucky Kimo - I was really impressed with your nerve and your trades too. I reckon CV and Sharky have it in for you too... It's a conspiracy it is... :cheesy:

Next time...


I'm in scalping mode at the moment. Have an hour to kill...

 

[Sharky]

Congratulations to Superspurs who is the winner of this week's contest and and the prize of an Apple TV! He finished with a profit of $14,495.00 on a starting balance of $50,000.00. Check out how he did it. Congrats!! :clap:

The full results from this week's contest are as follows:



Thanks to everyone who suggested an improvement over at http://feedback.forexdesk.com. Posting your feedback and voting on your favourite ideas really helps us to prioritise what to work on next.

The winner of this week's SanDisk 8GB Cruzer Blade USB Flash Drive is megamuel for his suggestion to improve the equity graph.

The new Week 3 contest kicks off tomorrow night (Sunday) at 6pm ET, 11pm BST. We'll be announcing the prize shortly.

To participate in next week's contest, head over now to the ForexDesk Sign Up page, use the invite code: "T2WCOMP" and register with the same username you use on T2W. Once you're logged in create a new practice account, making sure you add "#3" to the name. Now you're all set for the start of the contest tomorrow night.

 

[megamuel]

Thanks for my prize again Sharky and well done Superspurs. That is some result, especially as you were trading almost always with 1 lot. I only joined on Thursday so took some gambles with maximum size, first 2 paid off and I got up to second, 3rd one didn't!!! Oh well, might have another go next week if the prize takes my fancy - less gambling though next time!

Sam.

 

[Atilla]

Thanks for my prize again Sharky and well done Superspurs. That is some result, especially as you were trading almost always with 1 lot. I only joined on Thursday so took some gambles with maximum size, first 2 paid off and I got up to second, 3rd one didn't!!! Oh well, might have another go next week if the prize takes my fancy - less gambling though next time!

Sam.

I'm always strugling to pronounce SSpurs being an Arsenal supporter but he wasn't always with 1 lot but scaling in and out. Good move trading technique though if one can master the art.

If I may say to practice the art - I think it would be a good idea to state what strategies one plans to use in advance.

Once again I hope to not exceed 80% margin and limit loses to $500 dollas max. I went over once or twice but that was to do with my deliberate stop levels (obviously wrong as they still got taken out)... I'm going for consistency with Candle Sticks and price + MA crossovers. Time frames for picking trades vary considerably.

I also place a lot of entry orders and walk away. I don't have regular trading patterns as a busy work schedule comes first.


What I'm getting at is perhaps if we enter the comments for taking the trade we could then analyse intention - objective - reasons for entry and exit. I'll try and put a few words in this week #3 see what comes of it.

Play it again Sam

 

[superspurs]

Thank you Sharky for the prize.I look forward to next weeks challenge.

Regarding the trades last week,the history says 11 trades 11 wins,i would say that it was only 2 trades.The first being that i was watching to see if 4017 would act as sup,and on monday morning i tested the water with entries,in the evening it was still holding so added and added.I just got lucky with a big up day on friday when i closed it all.The second trade was a scalp on friday afternoon.

Atilla,your too old to be carrying football baggage around.I wish you well in the CL qualifiers.

Stuart

 

[superspurs]

strategy for next week,same again,look for a pullback in price and start buying,1 lot a time.Good luck to all.
Main objective is a positive week.

I just noticed only 6 people ended positive on the week :-0

 

[Atilla]

strategy for next week,same again,look for a pullback in price and start buying,1 lot a time.Good luck to all.
Main objective is a positive week.

I just noticed only 6 people ended positive on the week :-0

Say SuperSpurs - why is Ryan Giggs playing on the right?

What is wrong with managers these days. Too smart for their boots. Players should play to their strengths... He is much better on the left imo.

 

[superspurs]

I can,t believe he started with Nani on the bench,to accommodate a defensive formation.Fergie deserved to lose that by not trying to win it.

Tremendous show by Barcelona

 

[GlenGary]

strategy for next week,same again,look for a pullback in price and start buying,1 lot a time.Good luck to all.
Main objective is a positive week.

I just noticed only 6 people ended positive on the week :-0

Great job this week superspurs,

I was on your heels, you lucked out this week,

I have to find a method that suits my style, because the bar differance from FXDesk and FMCM is off, and in my style, that 1/4 second is criticle..

But I have a plan, just cant have this messing up my real money play,

And, opon other problems, like closing a buy trade on FMCM, then it opens a sell with-in 1 second on FXdesk, for some reason I cant figure out.. So, like 40% of my trades were not even trades i wanted to make..