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

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

    You don't want to miss this...


    ForexSignals.com is giving our community members the fairest chance of becoming a professional trader and managing millions of dollars.

    The team here have been working hard behind the scenes in bringing you a transparent and exciting new opportunity anyone can take part in. We're not just assessing how much money you've made but instead we're wanting to see (irrespective of your balance size*) how much risk you took for the gains you've made.

    This means that those with a smaller balance have the same chance of becoming our next Top Trader as someone who has a 6 figure balance.

    So how are we assessing who is classed "better" than another trader?

    Lets have a look at the ranking formula:
    1. Realised Gain (equity if lower than realised gain) / ( Max Draw-down * Standard Deviation of trade gains)
    We're looking for a trader who can demonstrate consistent risk management. Those who have sporadic or erratic returns (e.g. large outlier losses) will not receive a better ranking score than someone who has demonstrated consistency.

    Here is everything you need to know in order to get started:
    1. Live IC Markets account
    2. Must be under IB (ID: 1619)
    3. Minimum balance of $1,000*
    Unlike some trading contests, you'll be pleased to know that we're not marking up your spreads of trading commissions either!

    Entry into this contest will also enroll you into the "Monthly Top Trader" contest too!


    Courtesy of IC Markets, the top 3 traders with the highest rank (same as above) will win the following cash prizes deposited into your account:
    1. $750.00 USD
    2. $500.00 USD
    3. $250.00 USD
    So what are you waiting for? Join the Public Trading Room to learn more about how to join this contest!

    Hurry though, time is running out as we're due to launch our first Monthly Top Trader contest on the 1st of February! All entrants must have their accounts synced prior to the 1st of February to be eligible for cash prizes in that month!

  • rashed1
    replied
    Hi,
    I am new for this forum & thanks for your post

    Leave a comment:


  • bull_2nd
    replied
    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

    Leave a comment:


  • BMM
    replied
    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.

    Leave a comment:


  • Big River Man
    replied
    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

    Leave a comment:


  • Westie
    replied
    Originally posted by klass View Post

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

    Leave a comment:


  • klass
    replied
    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!

    Leave a comment:


  • BMM
    replied
    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

    Leave a comment:


  • Nick
    replied
    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

    Leave a comment:


  • Nick
    replied
    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.

    Leave a comment:


  • BillHuppert
    replied
    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.

    Leave a comment:


  • klass
    replied
    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!

    Leave a comment:


  • b4ex
    replied
    Hi Dom or Nick - Can USA traders take part in this contest?

    Leave a comment:


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

    Leave a comment:


  • WillT
    replied
    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.

    Leave a comment:

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