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Give mt4pips username (nickname)
Scoring may change
I need feed back on this
see http://www.babypips.com/school/why-keep-a-trade-journal.html for what we want
for 2nd mark
or more (this is minimum)
On Monday January 9th, 2012 at 12:33AM by RazorX - Like - 0 People
Hey Wilson
This is a good idea - we have something like this on the share forum I go to where we pick 5 stocks for the year.
Looking forward to seeing your rules and how this would work. Would we use the actual trades we are making during the contest time?
On Monday January 9th, 2012 at 01:41AM by Wilson - Like - 0 People
We will use Mt4pips for marking percentage gain. Each contestant will give there Mt4pips Name so that anyone in the contest can look at all information in there Mt4pips account. The other thing that we will be marking on is explaining your trade. The whys,wheres,whos, whens,what of the trade. I will explain this later. All contest evolve, so nothing will ever be written in stone. All accounts will be demo accounts.
On Monday January 9th, 2012 at 01:47AM by Wilson - Like - 0 People
On Monday January 9th, 2012 at 04:09AM by Brad - Like - 0 People
Only thing I would criticize about the current setup is that when you scale into trades, you can end up with more than 3 trades in the same currency and still easily keep the trade under 2 percent total risk.
On Monday January 9th, 2012 at 09:53AM by Wilson - Like - 0 People
Good point Brad. I will change this after work to read max percentage of risk that can be open at one time.
On Monday January 9th, 2012 at 09:52PM by RazorX - Like - 0 People
As further suggestion here - so instead of max three trades open, make it max 6% risked at one time which is 3 x 2% risk allowed per trade
On Monday January 9th, 2012 at 09:56PM by Brad - Like - 0 People
6 percent is a lot, but sure, why not allow someone to risk it, and we can see what the results are, would be good to see in a bit longer term time period, so we can see what the effects of high risk are to their well being. Should be fun to watch them go down with the ship maybe.
On Monday January 9th, 2012 at 11:13PM by RazorX - Like - 0 People
Lol nice point there Brad. If someone wants to bet the farm then so be it - part of the 'competition' is money management. BTW Wilson can you define 'Very High Leverage'? I operate at 100:1 and am quite comforatable with it so very high to me is 400:1 for example.
On Tuesday January 10th, 2012 at 01:07AM by Wilson - Like - 1 Person
If you allow gamblers to control the floor, its not trading anymore.This is a sister ship to babypips. A learning center. It should refect that. I want everyone to do well in the contest. Make the contest players as a team, pulling everyone up and onwards. This is a battle against the banks. The contest should be to push each other forward. Really, I would not want any gamblers in it. They can go to the other contests. Some will become jealous of the gamblers because a few gamblers will do 10 times as good as most.Its not a pretty site when this happens.
I was thinking 4%
6% it is unless we get other feedback
On Tuesday January 10th, 2012 at 01:15AM by Wilson - Like - 0 People
High leverage. I have seen some contestants run there accounts into the ground in five trades. You should be able to last for at least 50 trades before getting wiped out.
On Tuesday January 10th, 2012 at 01:43AM by Wilson - Like - 0 People
Last year, my averaged used margin in my real account was so low, I could of lasted for 500 trades before getting wiped out. And yes, that is to low.
On Wednesday January 11th, 2012 at 01:09AM by Wilson - Like - 0 People
OPEN TO ALL including gamblers I slept on it.
On Wednesday January 11th, 2012 at 04:18AM by beebolbod - Like - 0 People
Where do i sign? I'm in.
On Wednesday January 11th, 2012 at 04:37AM by RazorX - Like - 0 People
Hmm read an interesting thing on risk as a side. It said "If your risk is so high that you can't sleep then you are risking too much, if your risk is so low that you are not worried at all then it's not high enough."
Wilson in regards to risk vs leverage: High leverage isn't really the cause of people blowing accounts. It's their risk is too high, and if you are risking 20% of your account, whether it be 1:1 or 1:100 you are gonna blow the account. Obviously the high leveraged account will blow faster, but the fact remains you need to manage the lot size effectivly. I risk 1% on a 1:100 account which works out to $10 per trade. Ok enough of that lol
I'll enter... I'll also need to create a MT4 account. Got a link for doing that? What happens if a contestant finds they are too busy to trade, and has to stop at times? Any problems there? Also you have a start date - whats the end date? .... I'll fire more questions at you when I get them :) Good work with this so far mate!
On Wednesday January 11th, 2012 at 04:53AM by beebolbod - Like - 0 People
I think we should be able to trade what we like personally. If you restrict it, you potentially penalise certain strategies. Currently i have 3 separate trades in EU at diff levels, all of which i'll leave open for a while. On top of these i will take potentially several more per day. This would take me over the limit. Now, recently some of these trades have done me no favours (they are experimental i should note) so i'd be losing - through my own fault. Good for other contestants. However, these trades could all easily have been winners so i could be winning - perfect competition conditions.....
None of my trades are over 2% risk, and i think that that particular rule is ok - maybe 5% tops but as for restricting to 6% open at any time i think you should scrap that. There are enough pairs and comms to trade to diversify your account enough whilst being exposed to much more than 6% at any given time - depending on what you trade.
Actually, thinking about this whilst typing i've thought "hang on, why not let people do what they want??"
I mean - this is a trading contest right? People blow accounts all the time thinking they know it all so as far as i'm concerned i'd love to be up against 9 gamblers..... gives me a great chance of winning (if i dont blow mine first ;-)!!!)
Just my tuppence.
On Wednesday January 11th, 2012 at 05:26AM by Pipstradamus - Like - 0 People
I have some good news. We'll be releasing trading stats on the site soon so you won't have to use screenshots from MT4Pips.com to show gains/losses. :)
On Wednesday January 11th, 2012 at 07:54AM by Wilson - Like - 0 People
Yes, I see this. Grood work and thank you so much Pipstradamus and meetpip staff.
On Wednesday January 11th, 2012 at 08:00AM by Wilson - Like - 0 People
RazorX: Yes you are correct. It dos not matter if you have a 50:1 or 400:1 account. What maters more is how much of your used margin is used at one time.
On Wednesday January 11th, 2012 at 08:31AM by Pipstradamus - Like - 0 People
On Wednesday January 11th, 2012 at 08:33AM by Wilson - Like - 0 People
@beebolbod
6% is huge. That will be the max . This contest is to refect your real account. See above. We do not want people blowing up their account.
On Wednesday January 11th, 2012 at 08:36AM by Wilson - Like - 0 People
OOPS sorry Pipstradamus. I did not know I was in on the sneak and peek.list. I thought all had it.
On Wednesday January 11th, 2012 at 08:50AM by beebolbod - Like - 0 People
Which part above Wilson? The part where you said 6% or the part where you said "open to all, including gamblers"? I'm a bit confused by this.
Whatever you decide m8, i'm in.
On Wednesday January 11th, 2012 at 08:59AM by Wilson - Like - 0 People
@ RazorX You will need at least 4 trades for the month in order to be considered a contestant for the month. I will right this into the rules later.
On Wednesday January 11th, 2012 at 09:01AM by Wilson - Like - 0 People
6% in all open trades in the same period of time.
On Wednesday January 11th, 2012 at 09:01AM by Wilson - Like - 0 People
write not right
On Wednesday January 11th, 2012 at 09:02AM by beebolbod - Like - 0 People
And if i were to get all my SL to break even then i could have open as many trades as i like, providing the SL levels never exceed 6%?
On Wednesday January 11th, 2012 at 09:03AM by beebolbod - Like - 0 People
4 closed trades or will open do?
On Wednesday January 11th, 2012 at 09:08AM by Wilson - Like - 0 People
We will have only 10 players for the first pilot month. We want this to go well so we will start slowly
beebolbod is our first contender
@ beebolbod If you have not graduated from babypips school please go for do it.
On Wednesday January 11th, 2012 at 09:09AM by Wilson - Like - 0 People
open You can have 300 trades in the month.
On Wednesday January 11th, 2012 at 09:11AM by Wilson - Like - 0 People
OOPS please go do it.
On Wednesday January 11th, 2012 at 09:15AM by Wilson - Like - 0 People
Yes, All open SL totals cannot exceed 6%
On Wednesday January 11th, 2012 at 09:17AM by Wilson - Like - 0 People
But, each pair or trade cannot exceed 2%
On Wednesday January 11th, 2012 at 09:26AM by beebolbod - Like - 0 People
Gotcha. Clear.
yes i've done the school - many times ;-)
On Wednesday January 11th, 2012 at 09:27AM by Wilson - Like - 0 People
But, each pair or trade cannot exceed 2% in an open state at same period of time.
On Wednesday January 11th, 2012 at 09:28AM by Wilson - Like - 0 People
Good stuff beebolbod
On Wednesday January 11th, 2012 at 01:28PM by callen - Like - 0 People
Looks interesting but I have not graduated. ~ Back to classes!
On Wednesday January 11th, 2012 at 06:24PM by Brad - Like - 1 Person
Here's a couple of more sites with a ton of great articles to read after you finish reading babypips. Never stop learning.
http://www.learningmarkets.com/videos-and-courses/
http://vantagepointtrading.com/tutorials
On Wednesday January 11th, 2012 at 06:46PM by callen - Like - 0 People
Thank you Brad! So many things to learn and so many helpful friends to meet :)
On Thursday January 12th, 2012 at 03:50PM by beebolbod - Like - 0 People
On Thursday January 12th, 2012 at 03:50PM by beebolbod - Like - 0 People
On Thursday January 12th, 2012 at 04:42PM by RazorX - Like - 0 People
Hi Wilson
I usually do 1 - 2 per week on a good month so thats anywhere from 4 to 8 per month - does that allow me into the comp? (Might take some shorter timeframe moves if I need to as I mainly focus on daily/4hrly charts)
On Friday January 13th, 2012 at 12:36AM by Wilson - Like - 0 People
Hello RazorX
All you need is 4 trades per month Average one a week
On Friday January 13th, 2012 at 12:37AM by Wilson - Like - 0 People
On Friday January 13th, 2012 at 12:45AM by Wilson - Like - 1 Person
All trades must be done by hand and eye. No EA's
On Friday January 13th, 2012 at 04:14AM by RazorX - Like - 0 People
Count me in Wilson
On Friday January 13th, 2012 at 10:27AM by beebolbod - Like - 0 People
EA's would lose anyway ;-)
On Tuesday January 31st, 2012 at 08:23AM by Pipstradamus - Like - 0 People
On Tuesday January 31st, 2012 at 08:32AM by Wilson - Like - 0 People
Here we go
On Tuesday January 31st, 2012 at 08:41AM by beebolbod - Like - 0 People
i'll open a demo account specifically for this contest then.... tomorrow it starts!! Good luck to all, lets hope we are all winners.
On Tuesday January 31st, 2012 at 08:54AM by Wilson - Like - 0 People
Yes beebolbod, all you need is a mtpips account. It would be nice having it here, but if it is not working for you, do not worry. here I am
http://mt4pips.com/wilson
On Tuesday January 31st, 2012 at 08:59AM by Wilson - Like - 0 People
And here is my VIEW TRADING STATS
On Tuesday January 31st, 2012 at 09:04AM by beebolbod - Like - 0 People
On Tuesday January 31st, 2012 at 09:16AM by Wilson - Like - 0 People
I would love to see you do a 250 PIP drive. Good luck beebolbod.
On Tuesday January 31st, 2012 at 10:50AM by beebolbod - Like - 0 People
On Wednesday February 1st, 2012 at 09:47PM by RazorX - Like - 0 People
So only 3 of us out of all Meetpips? Thats sad. Ah well I have managed to make a net loss of 20 pips so far in the contest!
On Thursday February 2nd, 2012 at 03:52AM by Pipsharingan - Like - 0 People
Hello dudes......Am in
On Thursday February 2nd, 2012 at 05:48AM by Pipsharingan - Like - 0 People
am in
On Thursday February 2nd, 2012 at 09:18AM by Wilson - Like - 0 People
Welcome aboard Lordpipi
Here is where I am so far
On Thursday February 2nd, 2012 at 09:29AM by Wilson - Like - 0 People
http://www.meetpips.com/members/Wilson/journal/3801
Trade one -.15% see above on graph
http://mt4pips.com/wilson
It would be nice to have all usernames here so that all contenders can see each others mt4 accounts.
Remember to write alittle about your trades as this counts 50%
See above in rules
On Thursday February 2nd, 2012 at 10:44AM by Pipsharingan - Like - 0 People
Wilson...am sorry but am curious....hw do u get that chart ....and if I get it, can I use it on FXCM charts?
bcos thats what I use.
Thank u
On Friday February 3rd, 2012 at 12:12AM by Wilson - Like - 0 People
Lordpipi
Which chart are you talking about?
On Friday February 3rd, 2012 at 12:30AM by Wilson - Like - 0 People
Lordpipi
Do you have a demo mt4 account
On Friday February 3rd, 2012 at 02:44AM by Pipsharingan - Like - 0 People
I was referring to ur analysis chart which displays ur progress on trades...I do not have a demo acct on mt4. Moreover I am using my real account on FXCM in this competition.
I just wanted to know if the software works on FXCM
On Friday February 3rd, 2012 at 08:27AM by Wilson - Like - 0 People
Lordpipi
You must use a mt4pips demo account.
We need to keep track of everyone so things are fair.
On Friday February 3rd, 2012 at 08:41AM by Wilson - Like - 0 People
On Friday February 3rd, 2012 at 10:32AM by Pipsharingan - Like - 0 People
Ooops!!!... am sorry then...I guess that disqualifies me then....Not to worry Wilson..I will just post my trades all the same even if am not in the competition...Thank you for your time...I do apreciate a great deal
On Friday February 3rd, 2012 at 10:49AM by Brad - Like - 0 People
My mt4pips account is http://www.mt4pips.com/BradH
On Friday February 3rd, 2012 at 05:28PM by RazorX - Like - 0 People
Wilson - why can't we just use the stats link on our Meetpips profiles? I can create a MT4 account but it's going to show the same thing. Also should we have a seperate 'Results" blog that everyone comments on their trades for the week, or do we create our own contest results blog each week?
On Friday February 3rd, 2012 at 06:38PM by RazorX - Like - 0 People
Results for week one of the contest. (Using meetpips stats for 1 week)
On Saturday February 4th, 2012 at 11:33PM by Wilson - Like - 0 People
Here is your username
This username is all ready taken
I bet its you.
Why MT4pips is better
All contenders can see ALL trades by each contender
We can check for accuracy. I have seen one account here read 67% 2 weeks ago, then 2 days ago read 2120% and then read 818% yesterday.
We can pick exact time frame. Be is Feb1-Feb 3, 3 weeks, Mar 1-Mar 25 and so forth.
There are more tools at MT4pips.
I will be setting up very soon the scoring platform and how it will work. I will need input here. But let me put it up and then you (ALL CONTENDERS) can give feed back.
On Sunday February 5th, 2012 at 10:05AM by Wilson - Like - 0 People
@RazorX
You have an old account in mt4pips
your last up date was Sept 2 2011
http://mt4pips.com/RazorX
Do you use or look at this account any more?
http://www.meetpips.com/members/RazorX/blog/55791-meetpips-i-love-you
Pipstradamus said about same name used.
I will ask what the best way to update mt4pips account
On Sunday February 5th, 2012 at 11:00AM by Brad - Like - 0 People
Seems like using the stats link would make more sense. You can only see one account on mt4pips. That is the account that I have currently active. So, it will be hard to know which one I have up and working. Maybe, we are getting a little overly something about things. It is not about competition as you have said. It is nice to make sure that whatever someone is saying has some validity seeing that if someone tells me they made 1000 percent last week, I am probably going to be somewhat skeptical.
On Sunday February 5th, 2012 at 12:02PM by Wilson - Like - 0 People
Yes, I see your point Brad but all that would have to changed is instead of putting in your username or nickname in mt4pips, you would put your account number in.
On Sunday February 5th, 2012 at 12:05PM by Wilson - Like - 0 People
Yours for example #249 instead of your name.
On Sunday February 5th, 2012 at 12:12PM by Wilson - Like - 0 People
I wonder how easy it would be for mt4pips to configure this.
On Sunday February 5th, 2012 at 12:22PM by Wilson - Like - 0 People
Of course then anybody could see your mt4pips account. But that is happening now at Meetpips.
On Sunday February 5th, 2012 at 12:30PM by Wilson - Like - 0 People
I would be good for mt4pips also because we would be verifing if there data is correct.
On Sunday February 5th, 2012 at 12:30PM by Wilson - Like - 0 People
And for that matter Meetpips.
On Sunday February 5th, 2012 at 12:31PM by Wilson - Like - 0 People
We can check for accuracy. I have seen one account here read 67% 2 weeks ago, then 2 days ago read 2120% and then read 818% yesterday.
On Sunday February 5th, 2012 at 12:49PM by Wilson - Like - 0 People
I tryed this but it dos not work
http://www.mt4pips.com/BradH/account/#249
On Sunday February 5th, 2012 at 02:28PM by Brad - Like - 0 People
The inaccuracy of accounts is confusing. I have not seen mine have any inaccuracy. But, I have seen others say that they have a 21000 percent increase. Maybe it is because they are trading things like gold. On this site, often times, gold says that people have gained 20000 pips. But, their account hasn't grown by much realistically, but maybe the same error occurs as the 20000 pips where their account size says it has grown by 20000 percent. Since I have never seen any errors with my account, that would mean that, it is logical to think, that those that have these errors, must be doing something different than I am doing. Maybe, meetpips and mt4pips will be able to find and correct this error.
On Sunday February 5th, 2012 at 02:44PM by Brad - Like - 0 People
Here's an example. His trade with for $4.32 cents, and it says he made 43200 pips. I think that would be more accurate to say 432 pips, like what we would say on one of the Yen crosses. Maybe that is factoring into the insanely high percentage gain errors. What is beebolbod's percentage gain? Is it errored?
?
On Sunday February 5th, 2012 at 03:59PM by RazorX - Like - 0 People
@ Wilson. Yes that is my MT4 pips account - my live one which I started before I joined here. I am not live trading at the moment while I get things sorted with my trading. (If you look at the live stats you can see a massive drawdown hence me demo trading again.) I can create another MT4 pips ccount - maybe RazorXdemo.... I'll give it a shot. Hopefully it links both meetp pips and MT4. Also that "Meet pips I love you" post is posting my demo account stats - the one I have to link. Sorry for the confusion. Will update when Iget it sorted.
On Sunday February 5th, 2012 at 05:56PM by beebolbod - Like - 0 People
I've registered a new account with mt4pips now.... couldn't link account 450 and it wouldn't publish my results unless i dropped the EA onto the charts each time which was annoying.... so for my results you can go to http:wwww.mt4pips.com/beebolbod
On Monday February 6th, 2012 at 12:21AM by Wilson - Like - 0 People
I see your new account beebolbod
Your the best. Good luck next week
On Monday February 6th, 2012 at 09:38AM by beebolbod - Like - 0 People
thanks Wilson, good luck to you all too.... i'm my own worst enemy so my biggest effort will be against myself in this contest....
On Monday February 6th, 2012 at 10:30AM by Pipstradamus - Like - 0 People
@Brad: I think there might be an error in the way we calculate gold pairs. We're looking into it.
On Monday February 6th, 2012 at 04:33PM by beebolbod - Like - 0 People
there sure is! need to move decimal place left a little.
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