FXCM contest new record 1037.36% per montn

Discussion in 'Forex Trading' started by ssss, Jul 21, 2008.

  1. ssss

    ssss

    http://www.learncurrencytrading.com/fxforum/king-mini-competition/14392-june-2008-results.html

    1st Place -- $2,500 -- Anonymous -- China -- 1,037.36%
    To view the combined statement click here

    By trading only the major currencies this trader took his balance from $4,232.55 to having around $48,139 in equity by the end of June. Trade times mostly lasted for just several minutes, yet often lasted for as much as a few days. Making over a hundred trades, the trader exclusively utilized the USD, the EUR, the GBP, and the JPY. Somewhere the course instructors for FXCM’s “Trading the Majors” are smiling.

    http://www.learncurrencytrading.com/images/KOM/June 2008/1st place_June 2008.pdf
     
  2. Joab

    Joab

    S H I L L
     
  3. *Pays heed*
     
  4. ssss

    ssss

    From more as 150 000 attempt's (each month 4000 contestants)
    it is best result

    was two over 800 %
    two over 700 %
    some 4 more as 600%


    But most of attempt's (more as 90-95%) was with loss ...

    With Game theory (Puankare, J.von Neumann ,Kelly,Shannon)

    full correlated ...
     
  5. This is gamblig: no fear to loose the entire account.

    I think that if he has operated with $423,255.00 out of his pockets, the performance would have been 1.03736%

    :D

    Gabriele
    http://www.gabrielevivinetto.it
     
  6. it's lose not loose.

    It's all about the leverage. FXCM gives 200:1 leverage. So he really only made about 5% on his money he just had it leveraged 200 times.

    If his account was ten times bigger he probably cuts the leverage to 20:1 or 2:1 and his gains drop to 100% or 10%.

    Why rag on the guy he had a great month?
     
  7. Sorry for my bad English :-(

    It's the same thing I was trying to say ;)
    Leverage is an obviously double blade edge, you multiply gains, ad you multiply losses ...

    Anyway, yes, he made profits.
    In a way I don't agree with, but he made them.
    PERIOD. :cool:
     
  8. ssss

    ssss

    This is gamblig: no fear to loose the entire account.

    I think that if he has operated with $423,255.00 out of his pockets, the performance would have been 1.03736%

    -------------------------------

    FX brokers are not pure agents of principal's(hotspotfx exception) and involved in tradings against client's

    For small account that can go ,if client
    accept 100% risk ,for great account value with high chance not .

    Market would reacted for account
    1 mln$ with levarage 100 for short time trading
     
  9. Does it matter though, >1000% reward for <100% risk sounds like a reasonable bet to me :)

    I guess if you were doing it live you could take out your initial stake as soon as possible then it's house money which is being gambled.
     
  10. Had this account been live how quickly would have FXCM closed his account?

    Any guesses?




     
    #10     Jul 22, 2008