NEW: Top Trader Contest - Chance of managing over $1,000,000!

[WillT]

Hey guys just to clarify this situation with BMM.

BMM has actually hit a fairly substantial drawdown on the DAX which a member of the forum pointed out. For a few days we were looking into this and realized that we were not correctly calculating drawdown on days that had no closed trades AND CFD's were not calculating correctly due to mismatched data in our pricing server. The reason it took so long to fix this is because of making database changes which took 48 hours to actually change. Took so long because we had 75 million rows of price data to adjust which just takes time.

Any way - we've made fixes to this and we checked over last month's results and can confirm that BMM was still ranked where he should be. However, this month due to the large drawdown over the 11th / 12th April - its knocked him down the leaderboard.

BMM has hit me up on PM and wishes to have his stats reset. So to do this he will be opening a new account and removing his current account.

He has said that he's adapted his trading style to conform with our ranking formula - to which I have explained that we do not want people trying to adapt to our fomrula, but simply trade the way they would usually trade. This is really important! The contest isn't here to try and cheat.... we want you to trade your normal way, and we'll award those that do well. We will always be looking to adapt and change our formula to be fairer to all. And even if you don't end up coming 1/2/3rd in a month doesn't mean we aren't tracking your progress and keeping an eye on your trading.

[BMM]

I am very happy to see that the ranking formula was improved to have a more fair contest for everyone. This month I adapted my trading to a "bad" ranking formula indeed and so the new one penalizes me a lot. This is right and I don't complain about this. Nevertheless I traded in that way due to the ranking formula it was valid when I was trading

I asked to FS team to restart stats on my contest account as a "gentlement agreement" to forget what happened and start from zero

I wanted to tell this to you all to anticipate questions about what happened to my stats etc

good job FS team and good trading to everyone!

[WillT]

Thats are currently rebuilding now - may well take the best part of a day to do sadly.

But all being well we'll see everything updated and running as normal by this evening.

[WillT]

We are still working on this - its turned into a MASSIVE recode of multiple areas to get everything in line and working properly.

This was actually only effecting BMM as he's pretty much the only person trading CFD's. I'm hoping to have it sorted in the next 24 hours.

[WillT]

posted in blog:

This is a quick update to let you know that the trading competition stats are going through some maintenance that has taken far longer than anticipated. Please note that the stats have not been updating since early GMT Friday, and will remain offline over the weekend until we complete.

This will have no effect to any person's stats, and they'll automatically calculate the days missed once we put them back online.

[WillT]

We are looking at this today - we know what the issue is its just going to take a bit of time to correct it. I'll update later.

[Big River Man]

Sorry for the delay guys, I'll follow up with Dom and Will today and see if we can get a resolution on this as soon as possible.

What's the hold up with this?

Do you guys know what has happened?

[BMM]

Maybe he won last month's competition the same way. That's probably why he wont give an interview.

I already talked with FS team about this issue one week ago, let them do their work on refining the ranking formula that, I remember to you all, is the same for everybody

No, my last month competition was not affected by this "issue"

No, I am going to have a written interview as soon as I receive the questionary as agreed before Easter

[Nick]

Sorry for the delay guys, I'll follow up with Dom and Will today and see if we can get a resolution on this as soon as possible.

[Foxfields]

Yes... to Nick/Dom

Did somebody looked into the numbers of BMM yet? Or will he get again 1st place and $750 for a monthly profit of $23.64 only (that's a joke). The drawdown number is a fake!! Maybe he won last month's competition the same way. That's probably why he wont give an interview.

I know what is saw with my own eyes realtime on 11th and 12nd April. He was in a big drawdown with Long DAX trade. You have the investor password, so just check the account history in MT4 from 10th April on. What was his last trade: DAX Long on 10th April around 12'230? Closed at B/E on 12th April? Just need to look at the chart then to see that the drawdown in the ranking cannot be correct.

Every serious trader here would appreciate if we would get an answer to this matter soon...

[ensale]

Hey there.. DOM/Nick

I wonder why the stats for the competition is not working correctly, especially in regards to BMM who has some floating DD that is not showing in the leader-board for the contest..

as a member of ForexSignals, I would like to see a fair contest and this issue resolved immediatley/ASAP...

Regards..

[Nick]

Evening traders, Im back and connected in the contest!, as I moved my master account to a new broker all the stats were reset, hopefully I can make it to the top again and compete with PistolPete for that first place!

For those who are interested

https://www.simpletrader.net/signal/7757/Satang-FX.html

http://www.myfxbook.com/members/cruangpui/satang-fx-master/2076069

Cheers

Wow, $150,000 account! Good for you, I'm looking forward to seeing how you perform.

God Speed

[minkw]

Afternoon traders, just a heads up, I will be removing myself from the trading contest today or tomorrow, so its ok I have not died or blown up or things of the sort, as I am in the midst of moving my main account over to IC, I could have kept the USD account but I made a mistake with base currency when opening that up, as I need my main account in AUD, this will reset my rank on both monthly and global, however I will connect my main account (AUD) in a few days with a balance of about 162k, and then start fresh in the competition again.

I did have a bit of interest with people asking how they can follow me, I just spoke to FS support and they wont be able to waive the 6th month rule(due to new broker) so wont be able to offer on simpletrader, so instead Im also setting up a mql5 as a signal provider, will let you know when thats done.

Evening traders, Im back and connected in the contest!, as I moved my master account to a new broker all the stats were reset, hopefully I can make it to the top again and compete with PistolPete for that first place!

For those who are interested

https://www.simpletrader.net/signal/7757/Satang-FX.html

http://www.myfxbook.com/members/cruangpui/satang-fx-master/2076069

Cheers

[BMM]

Nick and Dom, check your trading room chat PM

[Dom]

Hey all!

Thanks for highlighting this. Will and I will be looking into this to workout whether it's a display issue (meaning, are we factoring this draw-down in the formula but visually it's incorrect or both).

I'll revert back once we get around to looking into it.