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Thread: Annual contest?

  1. #1
    Slim's Avatar
    Slim is offline Member
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    Annual contest?

    I was wondering when you will be having an annual contest. After all most of the winners you have had so far have been one time deals. Isn't that correct? If I am mistaken about that I would like to know. If a person had the ability to perform trades for 12 months and come out with a significant profit I would be very impressed and interested in their work. After all money management is one the areas I keep hearing and reading about but I am seeing very little of it in practice. Well it just a thought but if you would like to run a contest of skill rather than luck you could count me in.

    Thanks Slim

  2. #2
    ewaves is offline Member
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    Contest on weighted average returns

    Yearly contest will show case the real performance of traders..But in this case FXCM need to conduct the contest on basiss of weighted average returns..

    Thanks
    ewaves

  3. #3
    Rob at FXCM's Avatar
    Rob at FXCM is offline DailyFX Administrator
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    Hi Slim,

    Thanks for using the forum!


    Will you have an annual King of the Micro contest?

    As of right now, there are no plans for having an annual contest but this is an idea I can bring up in our next meeting and see if it is feasible.

    In the past 8 months, we have had someone win 1st one month and 3rd in another month. We also had someone that received 4th place one month later on win 1st in a different month. We have interviewed many of these top micro traders and have transcripts of the chat-based interview here.

    The list located at the link above will contain many different chat sessions. You will want to find the entries that contain "King of Micro Interview".


    Let me know if you have any further questions and again, thanks for your post!

    Rob

    Quote Originally Posted by Slim View Post
    I was wondering when you will be having an annual contest. After all most of the winners you have had so far have been one time deals. Isn't that correct? If I am mistaken about that I would like to know. If a person had the ability to perform trades for 12 months and come out with a significant profit I would be very impressed and interested in their work. After all money management is one the areas I keep hearing and reading about but I am seeing very little of it in practice. Well it just a thought but if you would like to run a contest of skill rather than luck you could count me in.

    Thanks Slim
    Add your post to join the conversation or contact me directly at rob@fxcm.com!

  4. #4
    Slim's Avatar
    Slim is offline Member
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    Skills come first

    Quote Originally Posted by ewaves View Post
    Yearly contest will show case the real performance of traders..But in this case FXCM need to conduct the contest on basiss of weighted average returns..

    Thanks
    ewaves
    I agree that a weighted average would be more equitable for all players, however for myself I would appreciate seeing what can be done by the skills of persons rather than just throwing money at it. I believe that more leverage allows for larger loss as well as wins. Having an annual contest would allow for some of that to work its way out.

    Slim

  5. #5
    Slim's Avatar
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    Me bad

    Oops my mistake! After looking at the results for December and past months I now realize that even with a return on your account of 50% per month, (which I am sure you would agree is a fine return) a person cannot compete with the offset of our competitors leverage. This is a shame as I am sure there are others that as myself would love to see some long term successes rather than this flash in the pan stuff. Possibly we should consider dividing the contests into leveraged categories. What do you think?

    Slim
    Last edited by Slim; 01-09-2011 at 12:47 PM.

  6. #6
    fxstalker is offline Member
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    how about have 2 contests

    Annual contest

    monthly contest

  7. #7
    Rob at FXCM's Avatar
    Rob at FXCM is offline DailyFX Administrator
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    Hi fxstalker,

    Welcome to the Micro Forum and thank you for your post!


    What do you think about having 2 contests, an Annual Contest and a Monthly Contest?

    Currently, there are no plans to add an Annual contest to the current King of the Micro Monthly contest. With that being said, I know we are currently in the process of starting up another Automated Trading contest on the Strategy Trader platform. You can read about the last contest we had by clicking here.

    Let me know if you have any further questions and again, welcome to the forum!


    Rob




    Quote Originally Posted by fxstalker View Post
    how about have 2 contests

    Annual contest

    monthly contest
    Add your post to join the conversation or contact me directly at rob@fxcm.com!

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