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

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  • #76
    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.

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    • #77
      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!

      Comment


      • #78
        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.

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        • #79
          Any other place than the trading room where we can see what's going on in this contest? Myfxbook, etc?

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          • #80
            Hi Dom or Nick - Can USA traders take part in this contest?

            Comment


            • #81
              Originally posted by WillT View Post
              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.
              Remember Nadobny, person who got 2nd place in February? Looks like he got an account reset as well? Is this the cool new thing to do when you over-leverage and mess up you draw-down statistic? Close account, re-open fresh one, rinse and repeat? Looks like he hit %19.36 DD in March. Now he's at 1.61% DD on the same account. Reached #1 spot on Global Trader board as well - congrats Nadobny!

              Comment


              • #82
                Originally posted by klass View Post

                Remember Nadobny, person who got 2nd place in February? Looks like he got an account reset as well? Is this the cool new thing to do when you over-leverage and mess up you draw-down statistic? Close account, re-open fresh one, rinse and repeat? Looks like he hit %19.36 DD in March. Now he's at 1.61% DD on the same account. Reached #1 spot on Global Trader board as well - congrats Nadobny!
                I don't know about that, but I do know you are doing very well and showing good consistency (much better than me - LOL)
                Congrats, keep it up.

                Comment


                • #83
                  Originally posted by klass View Post

                  Remember Nadobny, person who got 2nd place in February? Looks like he got an account reset as well? Is this the cool new thing to do when you over-leverage and mess up you draw-down statistic? Close account, re-open fresh one, rinse and repeat? Looks like he hit %19.36 DD in March. Now he's at 1.61% DD on the same account. Reached #1 spot on Global Trader board as well - congrats Nadobny!
                  There's nothing wrong with an account reset. We all make mistakes

                  All it really does is put the trader back to the start if they've got aspirations to trade for us.

                  If you reset during the month then you can't win that month in which the reset was done.
                  Click here to check out the most popular forex channel on YouTube

                  Comment


                  • #84
                    Originally posted by b4ex View Post
                    Hi Dom or Nick - Can USA traders take part in this contest?
                    Yes, absolutely!

                    All you need to do is have an account with LMFX
                    Click here to check out the most popular forex channel on YouTube

                    Comment


                    • #85
                      Klass, please not quote me on this. I already explained

                      I hope you will not commit mistakes as happened to Nadobny but remember we are all human here so the next could be you, or me, or any other trader

                      nice trading to all

                      Comment


                      • #86
                        Originally posted by BMM View Post
                        Klass, please not quote me on this. I already explained

                        I hope you will not commit mistakes as happened to Nadobny but remember we are all human here so the next could be you, or me, or any other trader

                        nice trading to all
                        best of luck to all - profits with no downside!

                        Comment


                        • #87
                          Originally posted by klass View Post

                          best of luck to all - profits with no downside!
                          Don't you lose $500 of real money though ?

                          Comment


                          • #88
                            If anyone was following I've had an insane few weeks and will get on this thread over weekend or Monday to update. Hopefully back in the live room from next week too. Am still alive!!! Peace out!
                            BRM

                            Sent from my SM-G935F using Tapatalk

                            Comment


                            • #89
                              Hello,

                              for the first time I let my profit run with two trades that had big gains: standard deviation increased from 0.634 to 2.170 which is a lot but due to gains, so it's nice

                              The result is that I am in the 12nd place even having a gain/dd ratio and an absolute gain better than a lot of other competitors ahead me

                              I suggest to review the ranking method strongly increasing the positive weight of having big right tales in the P/L distribution to not penalize so much who let the profit run

                              I hope it could help

                              BMM
                              Last edited by BMM; 05-25-2017, 01:51 PM.

                              Comment


                              • #90
                                Hi guys,
                                in this difficult period with only one rock solid trader in game, I was looking for some new services but it's quite difficult to find a good one. My first check is always related to drawdown. I don't like dd higher than 15% (stated). In my calculation it's the percentage that could be recovered easily to go again in a new equity high. As you know, if you lose 50%, then you must gain 100% to recover, it's math. After it, I check monthly performance. VPS, service fee and so on have a cost. Without a good performance you lose money. There are also other parameters that I check but "safe&gain" are the most important,imho. Nick,FS team, do you think that someone would choose many of the top traders in this contest? I thought the ranking driver would be related to Top Traders but I'd ask to the community which signals would be choosen.. In the top 10, just 2. I think you should check the ranking formula..it's a Top trader contest, not the Less Volatility contest.
                                bull_2nd

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