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  • #31
    Nick,

    as far I understand the new ranking formula will not be public to make harder to spoil the competiton with "unfair" trading just to have an higher rank, I can understand this nevertheless in this way we are in a diffucult situation:

    1) trailing profit: yes/no? the ugly old formula standard deviation based hard penalized big gains, is it fixed now?

    2) baskets: yes/no? baskets (think at Hans) were a sucide with old formula, and now?

    3) Distance between positions unknown: is it possible to have the ranking value of each competitor, at now we don't know if we are close or not to other competitors

    At the end of the day a competition based on unknown rules is too much affected by luck, next week I will trade but not being able to wisely choose the best tecnique is not a thing that I love, to be honest.

    On February my competition was detroyed having used baskets, at the beginning of this month I traded without baskets and tralling stops and had lovely results, in the second half of March I just hope to be lucky and it's not very professional

    Comment


    • #32
      Originally posted by Big River Man View Post

      Nick. Spoken to a fair few guys in the chat room today and the general consensus is that we believe in the rule change as it is a better way to find the gems
      BUT
      that it is highly unfair to change it over halfway through the competition.
      By doing this you are showing favouritism as you would then already know who would be winning thereby selectively picking your own top 3.

      I think you should announce it and say that this will be true FROM April i.e. the start of the next competition in 2 weeks. otherwise it's hardly fair.

      My goal is 2% a month. Goal made in 6 trades and followed the rules perfectly to the letter. No cheating. No bullshit. Just good trading. Can I do it again with 6 more trades? Maybe. But this isn't the point. The rules were at the start of the competition and they should stay. I don't know any other competition where they just change rules midway through.

      I would appreciate a response.

      DISCLAIMER FOR ALL READING THIS
      - I was winning the competition with 6 trades but am now ineligible.
      Hey BRM, for what it's worth, I agree that it is unfair to change the rules part way through the monthly competition, moving the goal posts, so to speak.
      I was surprised to see you go from the top to the bottom!

      Best of luck anyway, put it behind you and don't let it affect your trading.
      Last edited by BillHuppert; 03-18-2017, 02:34 AM. Reason: typo

      Comment


      • #33
        Originally posted by BillHuppert View Post

        Hey BRM, for what it's worth, I agree that it is unfair to change the rules part way through the monthly competition, moving the goal posts, so to speak.
        I was surprised to see you go from the top to the bottom!

        Best of luck anyway, put it behind you and don't let it affect your trading.
        Hi Bill thank you for the actually first measured and non abusive reply to my post.
        Quite remarkable really. Not even bothering to reply to the others.

        Hope your trading is going well.

        Yet to get a response from Nick about this.

        BRM.

        Comment


        • #34
          Originally posted by RenkoGuy View Post

          You were doing the same think Klass did the month before just aming for the $ 750 with a few trades.

          Bad sportsmanship.
          Did you hear the interview? He trades 0.01 per $10,000 WTF ??? and he won

          Incredible, made more with the prize money than he ever will trading

          What happened to the good old measure of success, the amount of $$,$$$.$$ in the account at the end of the month

          Sure, chuck in a few parameters about risk, drawdown, blah, blah, blah

          They said they didn't want it to be like the other competitions where crazy trades were made, well guess what?

          They did that when they made it REAL account and not those crazy demos!!! Guess they didn't understand that part

          In fact, they should make it even more REAL, have 3 competitions, with 3 account sizes, say $1,000, $5,000 and $10,000

          That will stop any crazy trading; with that criteria, the mentors should be winning every month

          Rant over
          The eyes are useless if the mind is blind...

          Comment


          • #35
            Originally posted by Big River Man View Post

            Nick. Spoken to a fair few guys in the chat room today and the general consensus is that we believe in the rule change as it is a better way to find the gems
            BUT
            that it is highly unfair to change it over halfway through the competition.
            By doing this you are showing favouritism as you would then already know who would be winning thereby selectively picking your own top 3.

            I think you should announce it and say that this will be true FROM April i.e. the start of the next competition in 2 weeks. otherwise it's hardly fair.

            My goal is 2% a month. Goal made in 6 trades and followed the rules perfectly to the letter. No cheating. No bullshit. Just good trading. Can I do it again with 6 more trades? Maybe. But this isn't the point. The rules were at the start of the competition and they should stay. I don't know any other competition where they just change rules midway through.

            I would appreciate a response.

            DISCLAIMER FOR ALL READING THIS
            - I was winning the competition with 6 trades but am now ineligible.
            Sorry for the delay in getting back to you, your post got lost in the thread, until you pointed it out in the trading room just now.

            I take your point, but this is now the second month in a row where a trader has sat on their hands after securing top spot inside the first few days (or hours as was the case with Klass last month).

            It's not in the spirit of the competition and I made it pretty clear in the trading room at the start of the month that if happened again we'd reserve the right to change the rules midway through.

            We've busted our guts putting this competition together and are literally giving away free money for participating, all you need to do is place at least 12 trades in a month. It's that simple.

            I'll also let you guys know that we have added a slight weighting to traders with a larger number of trades, because a trader with 12 great trades might get lucky, but across 120 trades that's increasingly unlikely and a better indication of consistency.

            Click here to check out the most popular forex channel on YouTube

            Comment


            • #36
              Originally posted by Nick View Post

              Sorry for the delay in getting back to you, your post got lost in the thread, until you pointed it out in the trading room just now.

              I take your point, but this is now the second month in a row where a trader has sat on their hands after securing top spot inside the first few days (or hours as was the case with Klass last month).

              It's not in the spirit of the competition and I made it pretty clear in the trading room at the start of the month that if happened again we'd reserve the right to change the rules midway through.

              We've busted our guts putting this competition together and are literally giving away free money for participating, all you need to do is place at least 12 trades in a month. It's that simple.

              I'll also let you guys know that we have added a slight weighting to traders with a larger number of trades, because a trader with 12 great trades might get lucky, but across 120 trades that's increasingly unlikely and a better indication of consistency.
              Okay. Thanks for your reply.
              And yes I understand the changes and the reasons why, obviously am personally annoyed at the change mid month but can see the good for the overall team so no problem. Just frustrating to make a point of it and to be abused by 2 competition members for coming here and stating a very valid point.
              I'll continue to trade the account now. And change my risk parameters to risk less per trade for next month.

              Comment


              • #37
                Originally posted by BMM View Post
                Nick,

                as far I understand the new ranking formula will not be public to make harder to spoil the competiton with "unfair" trading just to have an higher rank, I can understand this nevertheless in this way we are in a diffucult situation:

                1) trailing profit: yes/no? the ugly old formula standard deviation based hard penalized big gains, is it fixed now?

                2) baskets: yes/no? baskets (think at Hans) were a sucide with old formula, and now?


                3) Distance between positions unknown: is it possible to have the ranking value of each competitor, at now we don't know if we are close or not to other competitors

                At the end of the day a competition based on unknown rules is too much affected by luck, next week I will trade but not being able to wisely choose the best tecnique is not a thing that I love, to be honest.

                On February my competition was detroyed having used baskets, at the beginning of this month I traded without baskets and tralling stops and had lovely results, in the second half of March I just hope to be lucky and it's not very professional
                up, please

                Comment


                • #38
                  Originally posted by BMM View Post
                  Nick,

                  as far I understand the new ranking formula will not be public to make harder to spoil the competiton with "unfair" trading just to have an higher rank, I can understand this nevertheless in this way we are in a diffucult situation:

                  1) trailing profit: yes/no? the ugly old formula standard deviation based hard penalized big gains, is it fixed now?

                  2) baskets: yes/no? baskets (think at Hans) were a sucide with old formula, and now?

                  3) Distance between positions unknown: is it possible to have the ranking value of each competitor, at now we don't know if we are close or not to other competitors

                  At the end of the day a competition based on unknown rules is too much affected by luck, next week I will trade but not being able to wisely choose the best tecnique is not a thing that I love, to be honest.

                  On February my competition was detroyed having used baskets, at the beginning of this month I traded without baskets and tralling stops and had lovely results, in the second half of March I just hope to be lucky and it's not very professional
                  Thanks BMM, I'll get Dom to reply here on that because he knows the intricacies of the change better than I do.
                  Click here to check out the most popular forex channel on YouTube

                  Comment


                  • #39
                    Originally posted by BMM View Post
                    Nick,

                    as far I understand the new ranking formula will not be public to make harder to spoil the competiton with "unfair" trading just to have an higher rank, I can understand this nevertheless in this way we are in a diffucult situation:

                    1) trailing profit: yes/no? the ugly old formula standard deviation based hard penalized big gains, is it fixed now?

                    2) baskets: yes/no? baskets (think at Hans) were a sucide with old formula, and now?

                    3) Distance between positions unknown: is it possible to have the ranking value of each competitor, at now we don't know if we are close or not to other competitors

                    At the end of the day a competition based on unknown rules is too much affected by luck, next week I will trade but not being able to wisely choose the best tecnique is not a thing that I love, to be honest.

                    On February my competition was detroyed having used baskets, at the beginning of this month I traded without baskets and tralling stops and had lovely results, in the second half of March I just hope to be lucky and it's not very professional
                    Hey BMM

                    Our intentions are not to hide the formula as such, but instead when we're in the point where we've locked it in, we'll make it much easier to understand.

                    Answering questions 1 and 2: As it stands right now, we're considering the skewness in ones trading as apart of the formula. This is an addition to the formula we're already using and it helps with awarding though that are positively skewed to counter-act a potentially higher standard deviation.

                    In regards to your last question; we probably won't be showing the value because it'll just make matters more confusing and retract from your personal objective. Once we have decided on how the formula will be operating definitively moving forward, you'll be able to work yours out relative to others.

                    Hopefully this shed some more light, keep an eye on the blog for updates moving forward.
                    -"An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today"-

                    Follow me on Quora for Q&A on Forex: https://www.quora.com/profile/Dominic-Gilbert-2

                    Comment


                    • #40
                      Originally posted by BMM View Post
                      Nick,

                      as far I understand the new ranking formula will not be public to make harder to spoil the competiton with "unfair" trading just to have an higher rank, I can understand this nevertheless in this way we are in a diffucult situation:

                      1) trailing profit: yes/no? the ugly old formula standard deviation based hard penalized big gains, is it fixed now?

                      2) baskets: yes/no? baskets (think at Hans) were a sucide with old formula, and now?

                      3) Distance between positions unknown: is it possible to have the ranking value of each competitor, at now we don't know if we are close or not to other competitors

                      At the end of the day a competition based on unknown rules is too much affected by luck, next week I will trade but not being able to wisely choose the best tecnique is not a thing that I love, to be honest.

                      On February my competition was detroyed having used baskets, at the beginning of this month I traded without baskets and tralling stops and had lovely results, in the second half of March I just hope to be lucky and it's not very professional
                      Hey mate,

                      Congratulations for still being in the top 3 after the rules were changed. Good work!! Nice trading!

                      Comment


                      • #41
                        Originally posted by Big River Man View Post

                        Hey mate,

                        Congratulations for still being in the top 3 after the rules were changed. Good work!! Nice trading!
                        and to you too ! Nice contest

                        Comment


                        • #42
                          BMM and BRM

                          Good to see the old hands on the site doing well, and that BRM has been restored to his rightful place by good trading!

                          Much respect guys.

                          Comment


                          • #43
                            Originally posted by BillHuppert View Post
                            BMM and BRM

                            Good to see the old hands on the site doing well, and that BRM has been restored to his rightful place by good trading!

                            Much respect guys.

                            Come on BMM and BRM !! May the Forex be with you!!

                            Comment


                            • #44
                              From Nick's email: "...we dished out $1,500 to our competition winners BMM, Big River Man and Momentum King thanks to our friends at IC Markets. "

                              Much respect to BMM , BRM and Momentum King !! Well done guys!!! Congratulations , awesome March for you !!

                              Comment


                              • #45
                                Originally posted by bull_2nd View Post
                                Much respect to BMM , BRM and Momentum King !! Well done guys!!! Congratulations , awesome March for you !!
                                thank you a lot

                                I was also very lucky, almost 0% DD is very very difficult to be done again!

                                Comment

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