Worldspreads Competition

Yes, it's a far better idea for a competition than the usual farce where the winner turns £10k of paper money into £100k of paper money in a week, or whatever. Be interesting to see if WS do it again. The great thing about any sort of promotion or advertising is that you never really know if it worked or not. Wonder how many clients signed up just to enter the comp, lost a few hundred quid, then disappeared?
 
SimpleTrader09 said:
Interesting to read some comments that this is too hard. It isn't hard at all.
Click to expand...

Are you sure about that? If it isn't hard to get ten 5pip winners in a row, then you must make a huge amount of money. Scale up after each win and retire rich.:)
 
jeez I expected the competition to turn out at least 1000 winners .. I find it mush easier to win if I go for a small gain. go figure.
 
It will be interesting to see how many people do end up winning, the stat about 7 times/people in 3 months is irrelevant as they weren't trying for the competition or for 5 pt gains, they peobably just happened to have a winning run which just so happened to get to 10 in a row during x period of time.

@Ross Spur - plenty of people will have done it for a punt - like a bet on a horse - put down £20 and if you don't end up winning its an acceptable "expense". I cant recall if £500 was the minimum for the competition, but even if a mere 200 clients lost £500 WS have the funds for the prize right there!
I find some of these ideas interesting from a marketing perspective.

SimpleTrader09 is right that it is not hard, however to do it consistently is the key, (outside the competition) inevitably losses have to be taken at some point, and so let winners run and cut losses short is what those 7 clients (10 in a row in 3 months) probably did.
 
kavsp said:
It will be interesting to see how many people do end up winning, the stat about 7 times/people in 3 months is irrelevant as they weren't trying for the competition or for 5 pt gains, they peobably just happened to have a winning run which just so happened to get to 10 in a row during x period of time.

@Ross Spur - plenty of people will have done it for a punt - like a bet on a horse - put down £20 and if you don't end up winning its an acceptable "expense". I cant recall if £500 was the minimum for the competition, but even if a mere 200 clients lost £500 WS have the funds for the prize right there!
I find some of these ideas interesting from a marketing perspective.

SimpleTrader09 is right that it is not hard, however to do it consistently is the key, (outside the competition) inevitably losses have to be taken at some point, and so let winners run and cut losses short is what those 7 clients (10 in a row in 3 months) probably did.
Click to expand...

Imagine how it would feel to devote a month to making a string of ten 5pt winners (possibly be losing money on other accounts used for hedging), then discover that you have to share the prize with five hundred others!

'Not hard' = 'easy', doesn't it, so after the first ten winners it would be similarly easy to do another ten, and so on? If someone out there has a 100% win rate and scales up, world financial markets would soon collapse.
 
Ross Spur said:
Yes, it's a far better idea for a competition than the usual farce where the winner turns £10k of paper money into £100k of paper money in a week, or whatever.
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Sorry to butt in Ross - but I think you mean in a day - not in a week! Some peeps even topped £400k (starting with £20k) in the ETX comp' from a few years back, see C_V's post #686:
Beat The Broker
:cheesy:
. . . but you're quite correct - this comp' is a lot more meaningful and realistic - even if it lacks some of the excitement and razzmatazz of the ETX one.
Tim.
 
timsk said:
Sorry to butt in Ross - but I think you mean in a day - not in a week! Some peeps even topped £400k (starting with £20k) in the ETX comp' from a few years back, see C_V's post #686:
Beat The Broker
:cheesy:
. . . but you're quite correct - this comp' is a lot more meaningful and realistic - even if it lacks some of the excitement and razzmatazz of the ETX one.
Tim.
Click to expand...
As i remember there was a "reset button " at ETX contest ! :D
 
Hi everyone

Just thought I'll mention that Worldspread's interim results (6 months to 30 September 2010) say that the total number of active clients is 3,507, so there shouldn't be too many winners.
 
hacks said:
Hi everyone

Just thought I'll mention that Worldspread's interim results (6 months to 30 September 2010) say that the total number of active clients is 3,507, so there shouldn't be too many winners.
Click to expand...

Lets say they've increased the client base a bit in any case Winners - Share of Prize detailed below, I start at 5 winners although the likely hood is there will be more:
5 - £20000
10 - £10000
20 - £4000
50 - £2000
100 - £1000
200 - £500
500 - £200
1000 - £100
Entirely possible, I suppose all will be revealed in due course!
 
Ross Spur said:
Imagine how it would feel to devote a month to making a string of ten 5pt winners (possibly be losing money on other accounts used for hedging), then discover that you have to share the prize with five hundred others!

'Not hard' = 'easy', doesn't it, so after the first ten winners it would be similarly easy to do another ten, and so on? If someone out there has a 100% win rate and scales up, world financial markets would soon collapse.
Click to expand...

Indeed - consistency is the word - cant do it forever, but I'm sure most can get a 10 in a row given the right set of circumstances. If it was truly easy (this trading lark) then we'd all be able to band together and bail out the EU between us all and have some change to by a small country!

Scaling up is a dangerous game, unless we use discipline or have that crystal ball!
 
What is your best result? I manage to win only two in the row. Poor result. Two days left, I am not sure I want to try again.
 
arabianights said:
the way to do it would be to wait for the large trends, typically as a reaction to news, then keep getting in and out with no stops and taking 5 ticks.

I don't envisage that this will happen enough between now and the closing date.

I am still tempted to have a go though.
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There have been a lot of trend reversals in the past few days so I'm sure some people got messed up :)
 
twinj said:
Hi guys. I was surprised to find very few people were discussing this competition. All of a sudden 4 pages of discussions.

There is of course a possibility of a slip. But it would be wrong to blame Worldspreads for it. There is always a chance of a slip happening. From my experience, they do not slip you on purpose. My advice is to use the limit order 5 points away from your entry. Then you don't need to worry about the slippage problem. But the only snag is that it takes time to place the limit order and the market could have moved by then. Since the minimum distance of the limit order is 5, if the market has moved in your favour, you cannot place a limit order 5 points away from your entry. Many of the trades I made at least went against me initially or remained still so plenty of time to place a limit order.

Good luck guys. I am waiting since Friday for my confirmation. Please do read the terms and conditions. One thing in particular is that you must only have one trade open at a time. You must close the trade and then open another. This is very reasonable because someone could open many trades and just pick the ones with 5 point profit.
Click to expand...

ok, so you are the one who took my 50000. Or there is somebody else there?
 
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