ILovebigyansh:


Yeah i'm aware.
I was here up to when pipsbasketing was running the contest of some sort.
Never said a word only observed.

infofirst:
New Contest link. Please read the rules first before joining.
Those prizes will be minimum prize. Responsible trading at my discretion will attract toppings.
https://www.fxblue.com/competitions/ViewCompetition.aspx?id=1324&rx=1622203664662
Trade responsibly.


All the best to us all.

GabsonFX:
I strongly believe infofirst did not start this contest to reward those with probability but consistency, what is the probability when you are not consistent, or when someone with 40% this month does not even come 10th next month. Consistency is the key here.

I will say again, I can enter 5 X 0.01 trades = 0.05 all at a time and my first trade could run up to 400.0pips just in 3days, and stop trading for the rest of the month. This is not trading, if it does not work this time, I will try again in next month's contest...Consistency is key.

Donsheddyguru:


One thing is certain next contest they will still complain...
Consistency isn't a small feet...
Wether you're gambling or trading responsibly....
Anyone that is consistent is a good trader no matter his style of trading....
It doesn't matter if people see it a gambling or not...

infofirst:
^ Learn to take positive lessons from the contest and do not be intimidated.
Just because of @mayork2n trading style in this contest period. I was motivated and decided to trade ustec and us30 and see attached what I achieved on that. And this is just a set aside live account.
When life throws lemon at you, my boss, make lemonade out of it.

@last contest. The most valuable trader @jbinary AKA @ilovebigyansh made me to trade 98% 0.01 lot in this contest period and infact made me reduce my risk in my live accounts. That should be the essence of this contest. Learning and unlearning. If there is anything to learn in this contest period, it is that money management is single most important. When you miss money management, you will lose money and this will bring doubt into your strategy and mess your psychology for days. Why wont you then better start trading responsibly.

This contest most valuable trader is @Seunisco. He did a good job harvesting this pips. @Theyoungmaster did good too. @infofirst no relent as well.
Our number one this week @qpetz did fantastic job as well. It is one thing to lead and another to maintain it.
@mayork2n. Thanks for that good run as well. I hope you wilk come and tell us the gist in full. How it started and what caused the last minute hitch and your advice for upcoming traders like me

ILovebigyansh:

40% this month doesn't come 10th next month? Is that how we measure consistency though.

GabsonFX:
I strongly believe infofirst did not start this contest to reward those with probability but consistency, what is the probability when you are not consistent, or when someone with 40% this month does not even come 10th next month. Consistency is the key here.

I will say again, I can enter 5 X 0.01 trades = 0.05 all at a time and my first trade could run up to 400.0pips just in 3days, and stop trading for the rest of the month. This is not trading, if it does not work this time, I will try again in next month's contest...Consistency is key.

NetValueFX:

Hahahaha... Oga someone can make 400pips today and not make 400 pips for one week. You don't own the market. You are obviously new to this. I rest my case.

Shevychen2:


Of course. Why do you think more "prop firms" are popping up? They take these sign up fees and offer hundreds of thousands to trade knowing fully well that 9 out of 10 traders won't succeed with it. They pocket tens of thousands without doing anything. Many of them don't even put any money at risk. Just a fake $100,000 demo account.

If you can't display consistency and discipline with $500, you won't do anything with higher sums.

GabsonFX:
Considering you trade $5,000 LIVE account, would you prefer earning 40% in a single month to blow it the following month? OR earn 10% every month with tested 10% monthly consistency?

GabsonFX:
This is exactly my point: the person that makes 400pips today or in 3days will decide to stop trading the contest account because he does not want to lose the 400pips in the following week thereby putting others in pressure to catch up with him. Again this is not consistency but gambling as you have already pointed that forex is probability, which you seek....I agree I'm new to this business...

GabsonFX:
This is exactly my point: the person that makes 400pips today or in 3days will decide to stop trading the contest account because he does not want to lose the 400pips in the following week thereby putting others in pressure to catch up with him. Again this is not consistency but gambling as you have already pointed that forex is probability, which you seek....I agree I'm new to this business...

ILovebigyansh:


I will never advice anyone to look for a 40% ROI in a month because it comes with big risk.

On the other hand you sound very certain of the 10% return mothly for a year, which i'm simply saying is not guaranteed.

In short personally i have made bigger returns on a real account because i am a news trader but then there are some months you don't do well.

NetValueFX:

Someone not trading when there is nothing to trade is actually the best trading strategy. So someone making 400 pips and not wanting trade any longer is totally up to that person. We all can't trade every damn time. When you win, you let the market play around and wait for another good entry.

ILovebigyansh:

What if the said person had reached his monthly target or probably didn't see any good entry hence is disciplined not to take a trade, you can't say it's gambling.

GabsonFX:
Let us not divert from the current happenings, the contest.....this market is either a buy or a sell, I have seen some in the contest that have made 5% consistently in 3 to 4 consecutive contests, infofirst is one of them; these are people I will reward and not those that make 40% once in every 4 contests....grasp this.

ILovebigyansh:


No one is diverting. You asked a question i gave a practical reply.

There was a contest he made a 0.2% in same 2 weeks will you still call that consistent

It's not gauraanteed.

GabsonFX:
This is how I trade, and in fact, I have made the post I think 4days ago where I exited GJ after I met my monthly target. Yes, I stop trading when I meet my monthly target. This is a contest, some will see it as a game of chance to make big profit and run, come next contest but luck is not on his side, falls below 10th or gets disqualified.

ILovebigyansh:


People have different trading styles.

GabsonFX:
Yes it is consitency, did he ever come negative or blew the account?

ILovebigyansh:


You call that consistency.

Ok.

GabsonFX:
and the good entry does not come in the last 3weeks of the contest month? that person is such an opportunist, a big gambler.

NetValueFX:

I challenge you to make 500pips every week.

GabsonFX:
This is off-topic

harizonal123:


Best set of rules you have created so far but you should have removed gold to create a better and fair level ground for pure forex traders

GabsonFX:
You can choose any of these:
1. Make at least 3% weekly for 4weeks
OR
2. Make at least +/- 5% weekly for 4weeks.

NetValueFX:

It is not off topic, your claim is that someone must trade every week profitably. So I challenge you to make 500pips every week in the coming contest. If you can't achieve that then let people trade how they deem fit.