T2W Forex Contest - Week 6

[Lightning McQueen]

Oi liggy wtf is going on ? I think you won

fat lady sings at 11 i think

 

[Lightning McQueen]

...and the fat lady sings

 

[Shikamaroo]

Congrats Mr McQueen!!:clap::clap::clap::clap: Looks like sweet a victory.

Reminds me of that saying, "The race is not for the swiftest but the one who endures to the end."

 

[GlenGary]

Great Job this week Lightning,

 

[Lightning McQueen]

hey thanks for the nice comments guys

a very good 7th for you shikamaroo, nice play this comp and on the 1st page front and centre.

glen, come on buddy, i know you can do a lot better

up to the judges now. i believe they check trades, make sure we're playing fair.

 

[Lightning McQueen]

how to post?

you just have.

welcome

 

[Atilla]

...and the fat lady sings

Cool bananas Lightning,

Well done... Especially even more so as DavidESassi seemed so far ahead in the horizon. I think David had $67K at one point. Should have quit whilst ahead eh? :cheesy:

I don't care what they say about Lightening McQueen, that is one very fast dude...

 

[davidesassi]

Many compliments to Lightning McQueen, for the victory. I had a lot of fun in the final rush (first, second, first, second....) I felt like a child! Emotions are more important than victory. Thank you, McQueen, for the honest fight. You are a very good trader!

 

[Gordon Gekko]

well done to both lightning and david - good tussle at the end!

 

[Lightning McQueen]

thanks david.

yes it was sure an exciting run in to the finish for anyone watching. well fought and you never ever gave up. i thought you'd had it won when you switched to a short, you certainly had me there! lady luck played it's part in the end i feel and i was fortunate on that final wiggle up.

well played to you sir!

good luck next comp

 

[Sharky]

Congratulations to Lightning McQueen who wins this week's contest and the prize of a Panasonic Lumix DMC-FS16 camera. He finished with a profit of $15,419.00 on a starting balance of $50,000.00.
Check out how he did it.

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



The new Week 6 contest kicks off tomorrow night (Sunday) at 6pm ET, 11pm BST. We'll announce the prize shortly, along with some changes to the rules.. stay tuned!

To participate in next week's contest, create a new practice account, making sure you add "#7" to the name. If you're not already registered on ForexDesk, then 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 you can then create a new practice account. Now you're all set for the start of tomorrow night's contest.

 

[BeginnerJoe]

I wanna play too. Where do I put #7 ? Do I specify '#7BeginnerJoe' as my user name ?

 

[redart]

beginnerJoe#7, or anything you like followed by #7 in fact. As long as you sign up with your username and use the trade2win code when registering...(i think)

 

[BeginnerJoe]

Thanks. I had just taken a look at the winner's account and realized #7 is added to the practice account name and not the user name.

Doing simulated trading is not the same as the real thing. So one could afford to take huge risks. Is it cheating and against the rules for me to bet all my virtual money in one trade and look for a big kill ?

 

[GlenGary]

Thanks. I had just taken a look at the winner's account and realized #7 is added to the practice account name and not the user name.

Doing simulated trading is not the same as the real thing. So one could afford to take huge risks. Is it cheating and against the rules for me to bet all my virtual money in one trade and look for a big kill ?

Welcome to the Contest

do whatever you want, either its a right call, or it isnt..

Imagin having a Lambo Murcielago LP640, and it has a top speed of 210 MPH, does that mean your going to drive that fast? Sure, its available for you too, but is it wise? Now, imagin playing "Need for Speed" on the XBOX, nowwwwww, heck ya, floor it..

The good thing is, you can hit top speed on the straight aways, but you have to slow down, or just take the corner hard, take a huge hit, and damge, but hey, you made up alot of ground in a fast time, its just, How long do you think that VIRTUAL lambo will survive? WIll it make it to the end?

But, If you know how to take the corners, and come out unscaved, then put the peddle to the metal.. Thats what its all about..

Same numbers, same meaning, just more of a chance to be " Risky", because you already know, the money is fake, BUT, BUT, the prizes are real..

The choice is yours, it either proves great money mangament skills, and perfect calls, or carelessness and wrecklessness, which, in the end, will show your true skills at the game..

Good luck, I plan to climb out of the basement this week, in a big way

 

[BeginnerJoe]

I know I can search for the answer. But a little bit of bantering before the next round of competition starts can't hurt.

So my question is: with $50k starting balance. How many lots can I trade if I were to go all-in in a single trade of, say, EUR/USD ? I am completely new to fx trading and don't really understand the very simple basics. I did do some fx spread betting recently, though. In the process I lost money but gained what I believe to be an accurate sniping technique. So I am quite keen to put it to the test.

 

[Lightning McQueen]

joe, try starting off with 8 lots of eurusd, that would be the most at the start, once you've won a bit more you could then crank it up a notch. though watch your margin as you'll quickly run out if you get direction wrong and have the position closed.

 

[BeginnerJoe]

joe, try starting off with 8 lots of eurusd, that would be the most at the start, once you've won a bit more you could then crank it up a notch. though watch your margin as you'll quickly run out if you get direction wrong and have the position closed.

Thanks. That's helpful. If I go in with 8 lots and get a 5 to 10 pips move in my favour, how much virtual money would I have made ? I am just trying to gauge how much trading would be needed to get a 50% gain on my starting capital. I know my questions are the basic stuff. I am a beginner after all. A few pointers would get me up to speed very quickly.

 

[Lightning McQueen]

Thanks. That's helpful. If I go in with 8 lots and get a 5 to 10 pips move in my favour, how much virtual money would I have made ? I am just trying to gauge how much trading would be needed to get a 50% gain on my starting capital. I know my questions are the basic stuff. I am a beginner after all. A few pointers would get me up to speed very quickly.

blimey your aiming hi there, 50%! ok go for it, i think its been done a couple of times. david did it!

8 lots will get around approx $800/10 pips? not an easy feat but doable, if i can do it ok then anyone can lol

good luck, we'll watch with interest see how you're getting on

 

[BeginnerJoe]

blimey your aiming hi there, 50%! ok go for it, i think its been done a couple of times. david did it!

8 lots will get around approx $800/10 pips? not an easy feat but doable, if i can do it ok then anyone can lol

good luck, we'll watch with interest see how you're getting on

50% gain seems like a competition winning figure. I never said I could do it. I am just working out how many winning trades to win the competition. To make $25k would take 25 trades of 10 lots each for 10 pips. This is definitely a huge mountain to climb even at maximum risk taking.