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

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  • Nick
    replied
    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.

    Leave a comment:


  • Erebus
    replied
    Originally posted by RenkoGuy

    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

    Leave a comment:


  • Big River Man
    replied
    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.

    Leave a comment:


  • BillHuppert
    replied
    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

    Leave a comment:


  • BMM
    replied
    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

    Leave a comment:


  • TrendZilla
    replied
    Originally posted by Big River Man View Post
    I am sorry if my winning the competition was upsetting you.
    You cant win. There are too many, too good traders that outperform you and will outperform you. Consistently.

    BRM, how you are going to handle my 50% account increase in the comming 3-4 weeks, I wonder?

    You cant handle that, cant you?

    And PistolPete? He will likely win the Million. His blue value is so good... Noone can beat him. Not yet.

    Just live with the idea you are making me a company in the outsiders list and focus on increasing your capital...

    Leave a comment:


  • Big River Man
    replied
    Originally posted by RenkoGuy

    You were doing the same think Klass did the month before just aming for the $ 750 with a few trades.
    Bad sportsmanship.
    I disagree it's bad sportsmanship.

    The rules were 5 trades a month. My goal is to make 2% a month and it was done fair and square. Who gives a shit if it is done in the first week or not? Would you prefer I made 1.5 trades a week to get 6 trades? I think saying it's bad sportsmanship is in fact bad sportsmanship.

    I'm not saying I am an angel but rules are rules and I can't remember the last time a competition decided to change their rules. I am sorry if my winning the competition was upsetting you.

    Leave a comment:


  • TrendZilla
    replied
    This is likely to be an year long competition. Take it easy, pals.

    Plus, you should be trading for increasing your own money. I personally care not about winning or just participating. I want to trade properly. Making money out that, hopefully.

    This competition is good, cause it really shows me where I am right now, when compared to others.

    With the Million of without it - it does not make any difference to me. Anyway, I am on my own... Don't see you guys any different than I see myself.

    Leave a comment:


  • Big River Man
    replied
    Originally posted by Nick View Post
    Hey guys,

    Just a heads up that we've increased the number of trades needed to qualify for the monthly contest to 12.

    We have also adjusted the formula to slightly favour strategies that have more trades. Our thinking is that it's possible to get lucky on 12 trades, but the more trades you place the more it reveals consistency in the strategy and traders should be rewarded for that.
    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.

    Leave a comment:


  • minkw
    replied
    Looks like it's immediately

    Leave a comment:


  • Big River Man
    replied
    Originally posted by Nick
    Hey guys,

    Just a heads up that we've increased the number of trades needed to qualify for the monthly contest to 12.

    We have also adjusted the formula to slightly favour strategies that have more trades. Our thinking is that it's possible to get lucky on 12 trades, but the more trades you place the more it reveals consistency in the strategy and traders should be rewarded for that.
    Is that from next month or starting those rules immediately??????

    Leave a comment:


  • Nick
    replied
    Hey guys,

    Just a heads up that we've increased the number of trades needed to qualify for the monthly contest to 12.

    We have also adjusted the formula to slightly favour strategies that have more trades. Our thinking is that it's possible to get lucky on 12 trades, but the more trades you place the more it reveals consistency in the strategy and traders should be rewarded for that.

    Leave a comment:


  • BMM
    replied
    any news about the ranking formula change? It seems that the rank is already done with an other formula...

    Leave a comment:


  • Potter
    replied
    Well done for setting this up Nick, Will and the gang. It looks great

    Leave a comment:


  • Nick
    replied
    You guys might be interested to know that we just paid SteadyCapture $30,000USD in performance fees for January.... imagine if that was you.

    Leave a comment:

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