How brokers may make money out of a contest -
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thread: How brokers may make money out of a contest

  1. #11
    Member
    33
    After 25 days of competing, below are a few results that would show that brokers can make lot of cash from a competition.

    Traders in the competition on Feb 1, 2008 : 433
    Traders in the competition on Feb 25, 2008: 253
    The top down list proves that trader 246 and above have disregarded his account =gt; 433-246 gt; 187 traders or 43% of contestants have totaly disregarded their account!

    Internal info I obtained shows me that traders gt;200 rank has lost over 50 percent of the accounts.

    If people take the normal 90% of traders drop money, and it would be in a really competitive environment for a competition, we'd have that 433 x 0.9 = 390 traders have lost money in the competition, and 43 traders have won any $.

    Top ten list proves that trader number ten has done 156 percent = gt; traders from rank 11 to 200 are ranging between -50% and 156 percent

    Hence the final trader list should be like the below:
    Traders A: 156 percent lt; 1-10 lt; 752%
    Traders B: 0% lt; 11-43 lt; 156 percent
    Traders C: -50% lt; 44-199 lt; 0%
    Traders D: -99.46%lt; 200-245 lt; -50%
    Traders E: -99.9lt; 264-433 lt; 99.47%

    I can roughly say that by simply trading against the participants, taking into consideration that the minimum equilibrium to enter contest is 250$ (Rather than 500$) you can get:

    Traders A: You would lose them against about 6500$ and pay them 6000$ prizes
    Traders B: 0% lt; 11-43 lt; 156 percent you would lose against them about 6500$
    Traders C: -50% lt; 44-199 lt; 0% you may win around 9500$
    Traders D: -99.46%lt; 200-245 lt; -50% you may win around 8500$
    Traders E: -99.9lt; 264-433 lt; 99.47% you may win 46700$

    For a complete win of 46700 8500 9500-6500-6000-6500= 45700$
    with Bonus free advertising along with new opened accounts with new newbie traders...


  2. #12
    Member
    33
    You can not do this. Most competitions require minimal participation i.e 10 trades.

    Look in the current Fxsol Standings... Chinas got match guy. .
    Indeed, there's a 10 trades minimal requirement for most.





    China traders rocks! Together with FXSol, this really is a demo account and you can risk blowing your account with no real consequences to your own pocket and head 'wellbeing'. However, with IBFX, it is a live account you use with your own money, minimal risking 250$. So the outcomes are logically lower, but still good enough!


  3. #13
    Junior Member Adri5puyi's Avatar
    21
    the way to win in this game:

    1. Open two accounts - different names of course
    2. Account 1 = Move Extended AUDUSD (or NZDUSD) no SL no TP
    Account 2 = Go Short AUDUSD (or NZDUSD) no SL no TP
    These pairs tank!) Make certain both accounts may withstand 400pips drawdown.
    3. Wait for final moment. The reward is function as profit.
    You can't do this. Most competitions require minimum participation i.e 10 trades.

    Look at the current Fxsol Standings... Chinas got match man. .

    http://www.fxsol.com/contest/test-dr...winners_03.jpg

  4. #14
    Member
    33
    How to win in this sport:

    1. Open 2 accounts - different names of course
    2. Account 1 = Move Long AUDUSD (or NZDUSD) no more SL no more TP
    Account 2 = Proceed Short AUDUSD (or NZDUSD) no SL no TP
    These pairs tank! Make certain both accounts can withstand 400pips drawdown.
    3. Wait for final day. The reward is function as profit.
    Let us assume we fund 2 different accounts with the same X balance.
    It should be in a position to withstand 400 pips drawdown.
    Feb 2008 info:
    AU: Open 0.8957 Close 0.9232 =gt; 275 pips lt; 400 pips
    NU: Open 0.7867 Close 0.8082 =gt; 215 pips lt;400 pips

    Not one of the accounts have blown, but none have even doubled. Straightforward calculation, to double account, you need to practically blow the other...

    The 5th place has 238%, an equivalant of multipying by 3.4 the account
    Can we double click the account together with 250-300 pips to get 250$?

    The first is at 750% or about 8.5 days the account
    You can not multiply your account by 8.5 to win...

    it isn't too simple. There's a demand of coumpounding the wins and to take high risks.

    Ans as PipStar said a sideway market, since it's the majority of the time, may definitly blow off an account and likely return what it gave in the other one.

    I really don't see this process as having a fair Opportunity to win the 5th position

  5. #15
    the way to win in this sport:

    1. Open 2 accounts - different names of course
    2. Account 1 = Move Extended AUDUSD (or NZDUSD) no SL no TP
    Account 2 = Go Brief AUDUSD (or NZDUSD) no SL no TP
    These pairs tank!) Make sure both accounts can withstand 400pips drawdown.
    3. Wait for day. The reward is be the profit.
    A non-trending (sideways) market could destroy this egy.

  6. #16
    How to win in this game:

    1. Open 2 accounts - different names of course
    2. Account 1 = Move Long AUDUSD (or NZDUSD) no SL no TP
    Account 2 = Go Short AUDUSD (or NZDUSD) no SL no TP
    These pairs tank! Make sure both accounts can defy 400pips drawdown.
    3. Wait for moment. The benefit is function as profit.

  7. #17
    You cannot win this type of contest by trading conservatively. You must take risks. Been there, done that. That's just the way it works.

    Incidentally, traders blow off their accounts contests or not.

  8. #18
    View the subsequent 4 traders that were in the top ten list:
    1- 'Lessons' falling from 1000 percent to 200%, that is an 80% down from your account.
    2- 'Ninjahouson' falling from 650% to 200%, that is a 70% down in the account.
    3- 'Damir' falling from 200 percent to under 130%, this is more than 35 percent down in the account.
    4- 'Doublea' falling from 200 percent to under 130%, that is more than 35 percent down in the account.

    And blowned accounts are still in advance...

    Lessons to learn: In case you would like to earn lot, expect to eliminate lot, and even more...



    In one day ? I definitly prefer to use my cash direction than their-/

    They are not trading, they are gambling...

  9. #19
    Member
    33
    Well, Well, Well!

    After two weeks of competition, the number of participants has dropped out of 433 to 387 registered, 46 traders prefering to take off their names from the record following their accounts totally blown.

    The last 10 recorded have their accounts blown, and likely more of them not recorded, yet.

    The first ten do good, but I wouldn't be shocked if I read a few of these names in the down list later on this month...

    Watch the subsequent 4 traders that were in the top ten list:
    1- 'Lessons' falling from 1000% to 200%, this can be an 80 percent down from the account.
    2- 'Ninjahouson' falling from 650% to 200%, that is a 70% down from the account.
    3- 'Damir' falling from 200% to below 130 percent, this is much more than 35 percent down from the account.
    4- 'Doublea' falling from 200% to below 130%, that is much more than 35 percent down from the account.

    And blowned accounts are still in advance...

    Lessons to learn: If you would like to earn lot, expect to eliminate lot, and much more...




  10. #20
    Member
    33
    Hi,

    that I think I can share some result and you can roughly guess how many men and women blow up the account.

    Back in Jan, I had been -1.7 percent and rank 57.
    This month I am 5.8 percent and rank 101 at their final update (past Fri).

    Hence gt;75% peolple lost money in Jan in that contest and the other 300 individuals make less than 5% this month.

    Hope this helps.
    Thanks for your input Puppy!

    Please update us from the end of the contest on Feb. 25 with more data to assist us to do a bit more precise estimations.

    Hani

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