King of the minis - Question

Discussion in 'Forex Trading' started by ForexPro, Mar 2, 2006.

  1. I had a look at some of the winning trades by some of the monthly winners, with some winners gaining a monthly return of 500%.

    My question is are these results sustainable or did the traders have a lucky month?

    Has anyone here won a fxcm prize? If so, how are u doing since the prize?
  2. Hi! I've also looked to some reports of the winners and I think they got only lucky, just because they do not used any kind of money management strategie. some of them started with an account of $2000 and used 10 minilot just to open a position.So risking 50% of their capitan on just one trade. I think this is not a sound money management principle.
  3. "Linus"


    Hi Pipshunter,

    I'm not certain we can assume they risked 50% with the numbers you have given. With 10 minis and $2000 in the EUR/USD, they would be risking 50% of their account if their stop was 100 pips back from entry.

    If their stop was only 20 pips back from entry, they would be risking 10% of their $2000.

    Of course, 10% is still a lot by industry standards!

  4. daentay


    when one win the contest (top prize) = USD$2500.

    capital required USD 1000. That's a good risk reward game to play. not about trading, but a good chance to win. if you lose, you lose 1000. if you win, you win 1000x3 + 2500 = 5500.

    50% equity x 3 trades x 100 pip would win you the prize.

    you need to win once every 4 months to breakeven.
  5. There was one guy who took 8k and turned into 60k in a month. Its good to see the different styles though. I have quadrupled a demo in a month, but think i just got the direction right on the trades. In a ranging environment i would have been turned over.