Almost the first completed month of the ForexSignals trading competition… And what a month it has been. With over 40 competitors getting involved it’s been a superb month to see the trading talent of the community.
For those of you who have not yet got involved or just want to check out those who are, head over to the ForexSignals trading room to get involved.
The first month has been a success but we also appreciate there are still some areas that could be tightened up. Our trading competition isn’t about who can make the most gains… We want to focus on risk adjusted returns. What do we mean by that? We want traders who can truly trade the markets and produce results in a way which we would be happy putting our own money behind. The initial ranking formula that we came up with is penalizing those of you who have some outlier trades on the positive end of the spectrum… We appreciate that this is incorrect and as such are working on a new formula that we will be releasing in the next couple of weeks. We hoped to have this done by the end of this month but realistically we will be rolling it out in the middle of February.
What does this mean to you? Put simply it will be a fairer way of ranking each of the competitors.
Just keep trading and we will keep everyone up to speed with whats going on via this blog.