₦airaland Forum

infofirst:
It's not easy to track 2% DD. Make we no stress @samfelly so some people will not accuse him of being bias

Galleryeasy:
You guys are unbelievable honestly, the sponsor said what he wants and some folks are coming up with their own rules, why don't you go and tell TFT or MFFX that they should adjust their set of rules just to fit you? Ok @ princeofwallstr take the competition down so that they will sponsor and come up with their own rules simple

the one and only Galleryeasy , abeg, no spoil show for us o. We don accept the 2% DDD. Na duration of the competition we dey try wan agree on now; 14 days prop firm standard or 30 days broker otherwise standard

OfficialP:
You are absolutely right. it hurts me that no one (including me) have been successful with prop firm. I know this coming one will be different

Mystiquefia:
i think Ftmo swing account can hold trades for a month or more.
Av been using Ftmo "swing" account to trade for a month, because i wanted to access my trading skill for a month and not just 2weeks. Sometimes i find it difficult to pass the biweekly target of 5%, but I'm usually able to pass my own target of 10% for the month.

but i cant say if trades are trackable on account metrics after the usual 2weeks free-trial expiration date.

PrinceofWallstr:
Amen boss! learnt from u sir, you literally made me to do that. I'm reaching out a friend to come see what Young traders are doing over here but he is kinda turning me down, just wish he will come, u go see giveaway levels.

Heard you dey UK abi US, I'm moving my Fam to Gloucester UK, if u dey UK mk we connect nah.

PIPSMARSHALL:
Using more than one entry is how gambling starts. Before you know you start adding to losing trades.

Nice points

OfficialP:
The sponsor have said how he wants th contest to be, 14 days, 2% dd and 5 winners.
including boss mi extras.

so enough of the suggestions before it leads to confusion

Riverrun:
If the daily DD is set at 2%, then the competition has to run for 30days not 14days else no one will likely pass.

@samfelly take note, it should run for 30days not 14days.

Mystiquefia:
Yes this is a welcome idea too.. seeing that the rewards will be plenty, it should run for a whole month. Na there we go take know real traders wey fit stand the test of time and not gamblers.

PrinceofWallstr:
Ist position= $25k
2nd position =2* 10k
3rd position $10k
4th position $10k.
5th position $ 5k

HumbleTrader:
So way tin go happen to those of us wet no dey trade news.

PrinceofWallstr:
Lets fix date guys, I will not be in Nigeria from nextweek, it might affect my activities here. So like I said any day after 16 is cool for me cuz I will be online by then.

Tradinggiant:
ha.. boss na till 22nd oo.

samfelly:
Okay, how about we kick off on the 17th. 14 days is still 14 days with FTMO's trial, it doesn't matter if it starts at the beginning of a trading week or not. So we start on the 17th and conclude on the 31st.

@Everyone, The link to join would be active on the 14th.

EmmanuelVi:
Length of time one has spent in the trading world doesn't really matter to the art of trading itself; it's about 'how well', not 'how far'.

I began trading in 2017, but guess what? I only just became a trader (well principled) by 2020, during the COVID-19 lockdown. I've just browsing through all the commentaries on the upcoming competition without giving any input, not because I wouldn't want to compete (I mean it would be fun of course, even if I don't bag first place), but because of the rules imposed on risk and money management and that's the most crucial aspect of my trading career, I don't joke with that part cos it's all crunched in the numbers for me, it's applied statistics!

I see the imposed rules as biased (not as in a matter of contempt or greed, no!), biased in the sense that the rules on lot sizes are coming from one school of thought as regards risk management in trading. There 3 distinct ways that risk management can be applied in trading (at least, for what I know so far) two seem to be alike but they're actually different, they are;
(1) by lot sizes
(2) by dollar amounts (or whatever currency account's based in), and
(3) by percentages.

Now the rules here stipulate the 'lot sizes' method which is a total turn of for me as one who uses percentages. I let the stoploss price range of every trade I take decide what lot size I'd use, since I've already decided the percentage of my account balance that I want to risk on each trade. The majority pushing for the competition are coming from the same faction and the few of the minority like me just have to stay back, fold our hands and watch. The last guy that spoke up on this just got shut off without actually understanding him.

If traders like me bow to the risk management rules of this competition, believe me it would make a gambler again instead. It should be noted that lot size limitation doesn't fit into some traders trading plan; this is my input.

Sorry I gave you guys a long read (for those wey even try read to this end.. Lols)

HumbleTrader:
Remember to include those of us that will be using an expert advisor, high equity will be needed for this, the typical 5% won't help at all, we're going to need at least 15%

We still dey beg councils of elders to leave it at 5%, you go dey woo 15% . Na Atiku go open that kind prop firm o

Donsheddy:
WE BE PIPS HUNTERS....

THEN I LIKE THE SUGGESTIONS OF SPLITTING THE FUNDS TO ACCOMODATE MORE PERSONS...

MAKE THE GLORY FOR TOUCH ALMOST EVERYBODY...

THE 50K FIT BUY 10K FOR THREE MORE PERSONS. E GO REALLY HELP

nzechu:
if I may add. can we at least try ftmo this time around for prize instead of mff. even though I am new to the game, I still feel drawdown based on equity in contrast to draw down based on balance contributes to contest winners not translating to profit withdrawing winners. let's try something new this time and see if we won't HV people withdrawing profits. tank u

@samfelly

BrightFuture48:
Excellent! You bring back life to this forum with this generous prizes. May God reward you exceedingly.

PrinceofWallstr:
So we actually have bright minds here? I'm so impressed.

Lets fix date guys, I will not be in Nigeria from nextweek, it might affect my activities here. So like I said any day after 16 is cool for me cuz I will be online by then.

Have seen lots of complaints about the prize sharing, I think I need to readjust , no more Data subscriptions.

Ist position= $25k
2nd position =2* 10k
3rd position $10k
4th position $10k.
5th position $ 5k
Organizer 10k MTN data plan
All accounts ( Mff evaluation challenge account)

I will reach out to you Samfelly, please drop your email, I lost access to my Nairaland email.

Please let everyone participate and showcase their skills , let the lotsize cap not affect swing traders, I don't know if is it's possible to modify the daily drawdown to be 2%?

PrinceofWallstr:
So we actually have bright minds here? I'm so impressed.

Lets fix date guys, I will not be in Nigeria from nextweek, it might affect my activities here. So like I said any day after 16 is cool for me cuz I will be online by then.

Have seen lots of complaints about the prize sharing, I think I need to readjust , no more Data subscriptions.

Ist position= $25k
2nd position =2* 10k
3rd position $10k
4th position $10k.
5th position $ 5k
Organizer 10k MTN data plan
All accounts ( Mff evaluation challenge account)

I will reach out to you Samfelly, please drop your email, I lost access to my Nairaland email.

Please let everyone participate and showcase their skills , let the lotsize cap not affect swing traders, I don't know if is it's possible to modify the daily drawdown to be 2%?

Abeg, dis write up wey I dey read na real, abi na my mind dey play me trick? Just when I was about telling Riverrun and Pristinee and OfficialP that the 50k's challenge account can only be dissolved into 3 of 10k's challenge, I saw that the sponsor has supported all the bright ideas and added another twist to the cooking.

Ah, Jesu! ma mind is definitely playing a trick on me

klinksd:
Sam the fella, I know say for your mind true true nah that 'D' wey you want...

Me sef na 'D' too.

BrightFuture48:
Technically all these options are the same except for no.1.

However, since the highest price in this competition is 50k challenge account then is make sense to have similar trial account in that amount.

So I will go for option D, 50k with 0.5 max lot and 2 positions at a time.

I no succeed in confusing dem, abi? I go try harder next time

charly20:
Some bosses go don dey calculate which pairs dem go use show us shege and how dem sef go do like man city top league table.

Imagination go wan wound everybody 😂😂

Aswear . My own na make FTMO just announce say dem don add Step Index join their instruments o . While Meshpips own go be Power 200

Riverrun:
I remember your case. That's why I am saying one person should not be getting 50k account while others get nothing. If I have @samfelly kind of power, that 50k is better splitted to five 10k account to cover more winners.

PrinceofWallstr:
First position- $50k mff evaluation challenge and 5k MTN sub.

2nd place - $10k Mff evaluation challenge with 10k MTN sub.

3rd place -5k MFF ...

Riverrun:
@samfelly, please I want to suggest something we all may like or not like. Please guys, this is only a suggestion and it's not a necessity for it to be taken or considered.

We having been having good competitions here for a very long time now, all thanks to some Ogas who has been sponsoring.

God bless infofirst, pipsbasketing, animashaun, teemy and a host of others who have sponsored and impacted lifes in some many ways here at one time or the other.

Now to my suggestion, this competition can be
like no other if we have more winners so we can have a better probability of more traders who can make it to withdrawal stage. That's the real success.

So I think that the 50k account should be two 25k account or even five 10k account to reward more winners instead for a better probability of success. What I am saying is let's not put 50k just on one trader.

Please no insult guys, it's only a suggestion for FTA to record bigger success this season with our activities here. Maybe becomes thread of the year.

Anyone who didn't succeed with this can only blame themselves. The Sponsors and good members have tried.

Thank God date of competition still far . We go thoroughly treat every issues and be satisfied with the end agreement. If majority are in support of dis suggestion, so be it. Mind u, I love the idea, as well

infofirst:
And out of all the winners. May b 3 got funded accts Only one was able to withdraw $300+ eventually.

And the last competition sponsored by @Animashaun01, I knew from the beginning, the winners will crash because of the rules bla bla.... Thank God @samfelly have realized that too.

And we are about to repeat the same mistakes again.
I am not saying the winners in this coming competition will survive if we have better rules but they will learn and improve even if they lose the accounts eventually.
Make we no hurriedly miss out on this golden opportunities in this our mini family house. It is easier to win competition here than competition with the global traders.
Yet no one wanted to sponsor a competition that will not bring any improvement in the trading life of the participants.

Make we chill ehn. No matter how effective your strategies are, if you are indiscipline or rushing it. It takes only one mistake, and all the wins will wipe it all.
The mkt is brutal. Brutal than you can imagine.
We want good traders to win not lucky or gamblers to win competition

I respect traders that can make the hundreds of pips not those that make millions of $ from one or two pips

infofirst:
So many food for thought but little on the table.

Till Jesus will come.... Wealthy people on this earth no go pass 10-20% even if den dash every body $trillions for free

Profitable forex traders no go pass 5-10% even if then give us 99% sure banker signals. Read all the fx books wey dey in existence.

Simple reason b indiscipline n impatience, failure to learn from the past experience and all that.

I strongly think the fact that this life is like a pyramid also contributes to that... The bottom will b crowded and the top wil b thin.

Words

Tradinggiant:
ha.. boss na till 22nd oo.

beejaay:
E. What if i trade 4 pairs going by my standard strategy and all my pairs give signals few minutes apart?? does it mean i will only choose two or three out of them?? what if the ones left were the one with huge profits that would have covered the losses from those taken?
F. What if i have taken 2 or 3 trades already and my strategy gives me additional 3 signal to add on?? does it mean i will let it go cos the number of trades as par rule is already exceeded??

Rules should be made with several nuances as ingredients if you truly wanna help those coming to catch up faster and easier in their own way...every trader is unique and no single rule can work for everybody.. Im not going to be doing the competition with members but if i were to organize one, my rules will only be on the overall draw down and consistencies of lot size by about 60 to 70% proximity ...how you trade that and handle it would definitely be members headache...[/b]

Trading is a probability game and taking out the probability or trying to neglect it is a recipe for eventual disaster....

Boss, boss . I greet u.

Truth is trading competitions without rules often breed gamblers and not traders, because everyone wants to hurriedly be ahead. Fine, we are doing this contest with a rule, and can not enforce that rule on the winners when they are trading the prized accounts. But, I am saying if they really embrace this rule and tailor in excellent risk management, they'll be greater joy in our hearts, cos the story will be successful for them.

By the way, no one is restricting anybody to the numbers of pairs they can trade. Simply close the positions you have on a pair, be it in loss or profit, and open the same number of positions or less, on the more rewarding pair or pairs you find.

Kaybee7000:
Pls any any rule una wan set , remember us SWING TRADERS in choosing the plan for the contest ,some of us love opening position(s) toward new weeeks and since some prop firm allow swing traders,pls do consider us too abeg

@samfelly

Tradinggiant:
A and B are the most flexible regardless of your strategy.
Everybody just day mention the one way go favour their Trading pattern.

Lol . Them no know say I sit down search their wetin dey their heart . Which ever rule we pick, I go do my best. Dats how flexible traders do

Boss, abeg, pick one sha .

peteregwu:
I wiil chose the first one

Riverrun:
I will choose (B).

yetown:
D

PIPSMARSHALL:
B

dottozil:
C

Mystiquefia:
I prefer C, lets make it abit flexible bikonu

sampz:
C is preferable to me

dmahn:
D and D and D

TradingMaestro:
DDD

Proudpolygamist:
C is the only different option there with 5 positions for 0.1 lot, so i go with C

smilinguy:
Option D

I hope you guys realized you are voting, already? . Although, the two bosses, Infofirst and PrinceofWallstr don already sign option D before Master Riverrun made me threw this array of options at his feet and the rest of fta jumped on it.

Considering the fact dat Master Riverrun dey find freedom to trade as he wants, so that he go drop 46% in less than 5 hours in the competition and leave me in the dust , I might as well add option E for him ;

E. $50k trial account: 0.5 maximum lot size with 3 opened positions. (Yes, it is d same as option A, IYKYK)

Since we do not want to be rigid with a particular rule, we'll use the voting. Highest votes win.

#FlexibleTraders

Riverrun:
I believe whichever prop firm @samfelly would be choosing for the competition has already set the rules and the drawdown necessary. So traders should be allowed to trade freely as the like.

Its better to not win the competition trading as you like than winning trading how others like but loosing the given purchased account trading as you like.

I don't subscribe to traders being told how, or what lotsize to trade outside of the one already set by the prop firm for these two reasons;
1) Each and everyone of us have different ways and style of trading. So if Mr A, style of trading is good for the competition that means it's would largely be good for the purchased account he would be given. And vice versa.

2) A trader that won a competition following the added rules will likely discard those rules when given a purchased account because the rule has never be part of his style. And this would probably lead to him loosing the given purchased account.

Also, winners of the competition should not be based on traders with the highest gain. I believe for the aim of the competition to be achieved, winners should first be selected based on them passing as mandated by the prop firm first. Then when there are more winners compared to the available prize then highest gain option can now come in as a second criteria for selecting the true winner.

This are my suggestions and contributions for a more credible, relax and fun competition.

God bless everyone here.

If by chance you're asked to pick one, which will it be, boss?

A. $10k trial account: 0.1 maximum lot size with 3 opened positions

B. $10k trial account: 0.2 maximum lot size with 2 opened positions.

C. $25k trial account: 0.1 maximum lot size with 5 opened positions

D. $50k trial account: 0.5 maximum lot size with 2 opened positions.

Well, we go dey follow up on whoever wins each prizes. Dem go give fta members investor's password. Dem no go trade as dem like o