Worldspreads Competition

[SanMiguel]

not yet, may be because of the holidays.
Remember they have to write 185 cheques and they say they only have about 3000 active accounts.so i imagine they donot have many staffs to write cheques

The plural is staff!

 

[fast trader7]

The plural is staff!

Thanks.. my Guru

 

[SanMiguel]

Ask it a different way.
Of the winners, how many would you expect were beginning traders vs experienced traders and how many of those traders would you expect to be on a forum somewhere? We certainly haven't had many own up on this thread, less than 5 so far and Google searches don't bring up much else. Having said that, I suspect that a lot of SBers probably don't even know what a forum is

 

[jsharma]

Well from reading the sentiments here I think WorldSpread will lose in the long run as some of the customers they got only as a result of this competition campaign will run away due to lack of transparency and no new marketing campaigns will get them back. Like many of you I also await my share of prize.

 

[Shakone]

Hello all,
I am one of the winners but totally Pi****d.
I did not put my time and effort for just £540.I was definitely expecting more money. on top of that They want you to be a part of some Ad campaign. Two fingers to them!
It was not easy though. i just played indices without stop loss. My theory was ..how much can you lose on indices like ftse,dax...100..200 points? I was ready for that as i was expecting to be rich!. Stupid me! ( i only bet £1 and ready to take profit at 6-7 points)
Waste of time if you ask me.

It was already explained earlier in the thread just how easy it was to do, and not only that, but that Worldspreads would maybe even make money from the competition from all those who lost more than £5-600 trying to do it, and get free advertising with it. Even some of the winners might have lost more than what they have won.

It was a competition that played on greed for 100,000 even though the prize was never going to be even close to that. It is not like anyone who read this thread wasn't warned.

 

[Ross Spur]

It was already explained earlier in the thread just how easy it was to do, and not only that, but that Worldspreads would maybe even make money from the competition from all those who lost more than £5-600 trying to do it, and get free advertising with it. Even some of the winners might have lost more than what they have won.

It was a competition that played on greed for 100,000 even though the prize was never going to be even close to that. It is not like anyone who read this thread wasn't warned.

I wouldn't be surprised if most of the winners only made £1 per pt/pip bets in the competition, gaining about fifty quid or so for their ten good consecutive trades, but losing plenty in the abandoned attempts.
Meanwhile, the losers I should imagine more than paid for WS's costs, so all in all a pretty clever marketing operation.

 

[SanMiguel]

It was already explained earlier in the thread just how easy it was to do, and not only that, but that Worldspreads would maybe even make money from the competition from all those who lost more than £5-600 trying to do it, and get free advertising with it. Even some of the winners might have lost more than what they have won.

It was a competition that played on greed for 100,000 even though the prize was never going to be even close to that. It is not like anyone who read this thread wasn't warned.

I'm not sure anyone in the thread thought 10 trades would be easy...actually it was a premise of the thread that it would be very hard to do at all.

I for one would love to see stats on new accounts opened and just how many people lost in the process.

Like some said, if you played it carefully then £500 in account to win just shy of £600 ain;t bad - pays for Xmas and NYE shenanigans!

 

[Shakone]

I'm not sure anyone in the thread thought 10 trades would be easy...actually it was a premise of the thread that it would be very hard to do at all.

Did you read the thread?

lovejoy-Personally I think there will be multiple winners each having made the 10 winning trades in a row.

trader_dante-I think this should actually be pretty easy if you had got in at the beginning of the competition.

twinj-I believe that many people can win during current market conditions...Surely most traders would think that there would be many winners? I was taken aback when reading the early comments saying the money is safe.

simpletrader09-It isn't hard at all. Personally I would expec there to be aroud 50-100 winners of this comp

zica-eez I expected the competition to turn out at least 1000 winners

kavsp-SimpleTrader09 is right that it is not hard, however to do it consistently is the key,

And that's only up to page 6. You were even told an easy method to do it, lol.

 

[SanMiguel]

Did you read the thread?

lovejoy-Personally I think there will be multiple winners each having made the 10 winning trades in a row.

trader_dante-I think this should actually be pretty easy if you had got in at the beginning of the competition.

twinj-I believe that many people can win during current market conditions...Surely most traders would think that there would be many winners? I was taken aback when reading the early comments saying the money is safe.

simpletrader09-It isn't hard at all. Personally I would expec there to be aroud 50-100 winners of this comp

zica-eez I expected the competition to turn out at least 1000 winners

kavsp-SimpleTrader09 is right that it is not hard, however to do it consistently is the key,

And that's only up to page 6. You were even told an easy method to do it, lol.

an easy method by traders who didn't do it and all expectations from traders who didn;t take part. Most of the above is just trader talk TBH
How many who said it was easy got 10?

Just for the sake of boredom to do the same exercise:

They've probably analysed results and found that ten winning trades of 5pt or more very rarely happens, even for the most successful traders.

this competition is far to hard and so many people have already tried and if they were lucky that would mean that its not even worth the prize that we would be receiving.
lol

Most trading competitions, using virtual accounts, are won by whoever makes a series of big punts and gets lucky. I think you'll need a lot more than luck to win this one.

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.

Lets say they've increased the client base a bit in any case Winners - Share of Prize detailed below, I start at 5 winners

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.

Spin

 

[lancenicolase]

Well from reading the sentiments here I think WorldSpread will lose in the long run as some of the customers they got only as a result of this competition campaign will run away due to lack of transparency and no new marketing campaigns will get them back. Like many of you I also await my share of prize.

I totally agree on this as the only reason I opened account with them is to participate in the competition. I have enough spread betting accounts already.

Hello all,
I am one of the winners but totally Pi****d.
I did not put my time and effort for just £540.I was definitely expecting more money. on top of that They want you to be a part of some Ad campaign. Two fingers to them!
It was not easy though. i just played indices without stop loss. My theory was ..how much can you lose on indices like ftse,dax...100..200 points? I was ready for that as i was expecting to be rich!. Stupid me! ( i only bet £1 and ready to take profit at 6-7 points)
Waste of time if you ask me.

I did absolutely the same. I think my biggest win was about 8 points... when the profit was hitting 5 points I was looking to close the position right away. Just like you out of 10 winning trades only 2 were £2 bets on FTSE100.

I was hoping there'd be less winners but £540 will do for now. I just can't wait till the send me the cheque, I don't understand why they don't just credit SB accounts.

 

[Shakone]

SanMIguel, I didn't say nobody thought it was hard, I was replying to fast trader and said you (all) were told that it was easy, adn warned, so can't really complain now. You replied you didn't think anybody thought that. I showed you that you were wrong. That's it. Of course some people thought it was hard, but that is probably because they are trying to apply their normal strategy to winning the comp, rather than modifying their strategy itself to suit the comp. As was pointed out by more than one person, if the market moves/trends enough in a day (all you would really need is at least an 80 pip directional move), all you need to do is take profit every 6 pips, with no stop loss, and you will get your 10 wins or more in a row. That strategy will get you killed if you traded it long term, and you may even lose more than the 540 or whatever that people won, but you will certainly get 10 in a row one of the days. That's how easy it is.

 

[SanMiguel]

I see a starting and closing date, but are you sure there's an entry date?

Seems to me that this is a pretty clever marketing wheeze from WS. They've probably analysed results and found that ten winning trades of 5pt or more very rarely happens, even for the most successful traders. Punters who really want to win the competition will be tempted to hang onto losers way past normal stops, hoping the trade will 'come good' eventually, probably losing much more money in the process.

this competition is far to hard and so many people have already tried and if they were lucky that would mean that its not even worth the prize that we would be receiving.

even if i would do trades and just wait till i was in profit 5 pips and then at say trade number eight the market went against me i would just sit and wait until i couldn't take the loss any more (and especially in current markets where i could loose my pants). Just not worth the bother and aggravation. Anyway that is my two cents and you can let me know if you agree

lol

Most trading competitions, using virtual accounts, are won by whoever makes a series of big punts and gets lucky. I think you'll need a lot more than luck to win this one.

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.

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!

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.

SanMIguel, I didn't say nobody thought it was hard, I was replying to fast trader and said you (all) were told that it was easy, adn warned, so can't really complain now. You replied you didn't think anybody thought that. I showed you that you were wrong. That's it. Of course some people thought it was hard, but that is probably because they are trying to apply their normal strategy to winning the comp, rather than modifying their strategy itself to suit the comp. As was pointed out by more than one person, if the market moves/trends enough in a day (all you would really need is at least an 80 pip directional move), all you need to do is take profit every 6 pips, with no stop loss, and you will get your 10 wins or more in a row. That strategy will get you killed if you traded it long term, and you may even lose more than the 540 or whatever that people won, but you will certainly get 10 in a row one of the days. That's how easy it is.

fair point.
stats would be nice to see just out of interest.
For sure WS' platform isn;t up to scratch compared to other SB platforms out there. If you just want a system to place a trade on then it's easy enough.
...speaking of which - aren;t there published stats now of customer accounts per month or is that only in the US?

 

[trader_dante]

trader_dante-I think this should actually be pretty easy if you had got in at the beginning of the competition.

I stand by what I said...of course I didn't manage it personally but I started the day before the competition ended.

I'm sure that making 10 "decent" trades in a row is no simple feat but if you think it's hard to make 10 winning trades when you have a 5 tick target and a 500 tick stop...well, I'll leave that there...

 

[lancenicolase]

One point to clarify... I don't think it's easy to make 10 winning trades and follow the rules of the competition.
Firstly, I had to adapt different stragery and as mentioned above... if you don't adjust your trading to the comp you had no chance of winning.
Secondly, it's not as easy as you could not have two open positions, cannot ad to the open positions, etc.

So overall, I would never trade the way I traded with them and if I did I would never make money with spread betting.

 

[twinj]

check your competition account, Winners. No cheque. Simple deposit.

 

[fast trader7]

Morning all,
Cheque in the letterbox this morning.
Off to the Bank. Still disappointed with just £540!!!!

Happy New Year!!

 

[twinj]

Strange? Some winners are sent a cheque? Have you closed your competition account fast_trader7?

 

[SanMiguel]

Strange? Some winners are sent a cheque? Have you closed your competition account fast_trader7?

Not that unusual - it's probably an anti money laundering legal thing.
As far as I was aware all were being sent a cheque.

So, of the winners, how many would you expect to be on a forum especially a mostly UK oriented one?

 

[fast trader7]

Strange? Some winners are sent a cheque? Have you closed your competition account fast_trader7?

No,i might keep it

 

[Ross Spur]

It'll probably bounce, anyway.