Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.


Traders Laboratory Forex Trading Contest!

Recommended Posts

We would like to have a Forex Trading Contest for the month of March. The contest will be hosted on Oanda, one of our sponsors. If we can get at least 10 people interested, Let's do it. The contest will run from March 1st thru March 31st. In order to participate, one must have an Oanda demo account. If anyone needs help setting up an Oanda demo account, contact me here on the thread. The sooner you sign up, the more time you will have to familiarise yourself with the Oanda Platform.

This is for "Bragging Rights" only. But who knows, if it gets popular maybe we can twist MadMarketScientists arm to offer prizes in the future.

The winner will be determined by percentage gain on the account, not $$$ gain,

I will post the results everyday here on the thread. Please use your TL user name as your user name when you sign up for the contest.

On the results page there is no personal information displayed, nor will I as administrator have access to it. You can also withdraw from the contest at anytime.

Anybody Game?


I am posting an image of what a results page looks like.


Share this post

Link to post
Share on other sites
I guess we scratch this for March. Not enough time left to set it up.

We'll try again in April.


Will participate too.


I have a few constraints, but will be fun to be involved in a challenge. There may be a conflict with my live trades at the same time as demo.


When I am in a trade, it has my undivided attention, so the comp. will be secondary.


I could overcome this by switching to a different TF for the comp trades, so this will be a great learning opportunity at the same time.


Will open the a/c in next few days and get some practice using the platform, so it won't be too much of a learning curve in April.



Share this post

Link to post
Share on other sites

Good Show.


Maybe I didn't give enough notice for a March contest. So let's do April for sure.

I'll lower it to at least 8 contestants.

Start with any balance you like. Winner is determined by % increase, not $ increase.

Once the contest starts, 00:00 GMT April 1st, Do Not Change your acct Balance! It will screw your % and Sharpe ratio and will disqualify you.

Share this post

Link to post
Share on other sites
Ok, as of right now, who's interested in a forex trading contest?


I need to know by Weds 4/23 in order to set it up and get everybody up to speed on the rules.


I'm in.


Could you confirm the "Weds 4/23" part please?


Did you mean 3/23?

Share this post

Link to post
Share on other sites
Ok, as of right now, who's interested in a forex trading contest?


I need to know by Weds (23rd March) in order to set it up and get everybody up to speed on the rules.


OK guys - Mysticforex is looking for names for the April Forex Trading Comp.


As I see this, it is not a matter of winning it or not.


It is a matter of participating in something that other traders are trading at the same time.

This means we have an opportunity to compare a strategy we use with those of others.


At the same time we can learn if our strategy selected the same trades - fewer/more trades etc.

And we get to see how others are handling the market conditions.


This is a great moment in my trading life because right now I am wondering if I want to persist.

I want to know if it really is possible to do better than break-even, or are others blowing hot air?

I believe I have a great strategy, and I will get to monitor my own consistency in following it as well.


Mysticforex - how many numbers do you have now?

Should be go ahead and download a demo platform, or is there a specific way to do this

so that we can be shown on your spreadsheet?


That's the only reason I have not yet opened a demo trading a/c with Oanda.


We have 3 days to put up our hands for the comp. Should be a good learning op.


Share this post

Link to post
Share on other sites
Only 3 or 4 :confused:


8 to 10 would be ideal, 20 to 25 would be Great!


So ... shall we proceed?


I think that even a small group can learn something from a trading comp ... do we have the numbers?


What's the next step?


I haven't gone ahead with opening a demo a/c with Oanda yet - waiting for specific guidelines that will link me to your spreadsheet for compilation of results.

Share this post

Link to post
Share on other sites
How are the results going to be tallied? Or, how is cheating going to be prevented?


The winner will be determined by percentage gain, not $$$ gain.

There are ways ( as administrator ) to tell if someone is cheating.

I administrated one contest that had 129 contestants, had to disqualify

about 20 people for cheating.

That contest had a prize, an all expenses paid trip to Rob Booker's office, and spend 5 days trading with him. A fellow in the UK won that one. I think it cost Rob about $3K at the time.

Share this post

Link to post
Share on other sites

That contest had a prize, an all expenses paid trip to Rob Booker's office, and spend 5 days trading with him. A fellow in the UK won that one. I think it cost Rob about $3K at the time.


I dare Rob to offer that prize again!


;) ;)

Share this post

Link to post
Share on other sites
You'll have a chance to ask him.

I'll be interviewing Rob Live here on TL.

Weds. March 30th 12:00 PM Eastern time.


Hi Chris


I have registered for the call, but I am afraid I will miss the call

by 2 hours due to work commitments.


Re: daring to ask Rob to repeat the offer ... that was just a bit of cheek!

It is unreasonable to put such things on people, and I wouldn't do that.


But what I would like someone to ask Rob, on my behalf, is how he would

place Stops on the higher TF trades. I am sure we could thrash this out

ourselves, but it would be interesting to hear his take on that.


I was stopped out by 16 pips before the AUDUSD rallied about 24

hours ago and I decided that I should be looking at ATR rather than

Support/Resistance in certain circumstances.


Would you mind broaching this question with Rob on my behalf?


"How would you determine the level to place SL on the 4H (and higher) TF?

Is a multiple of ATR - an arbitrary level - a valid utility for determining this?"



Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Topics

  • Posts

    • i believe the min deposit is 50usd, except for wire transfer its 250. 
    • yes this is true, its not abattle of brokers (though a good broker should be chosen first) at the end of the day its the trader and his decisions
    • the fed reserve is sending mixed signals, it does affect crypto badly, im at a lose at the start of this year but i still have forex anyway haha
    • Yeah very strange name for a broker. To add my two cents I would also vote for Hotforex very honest broker with reliable platform. Filled my orders perfectly at yesterday breakout on Gold after the Fed meeting. 
    • Date : 26th January 2022. Market update – January 26 – Central Banks Eyed. It was a wild Tuesday in the lead up to today’s FOMC decision. Both bonds and stocks closed lower as the Fed is widely expected to outline a rate hike strategy with a 25 bp liftoff in March. Exaggerated fears of a 50 bp move and perhaps a string of 4 to 5 hikes this year have dissipated, though we suspect the markets are still positioned too bearishly. We expect the policy statement and Fed Chair Powell’s press conference to be less hawkish than anticipated, hence setting the markets up for a bit of a relief rally. So far today, Bonds have struggled, stocks hit the skids again in the US session but eased in the Asia session, and FX markets have remained in a narrow range as markets wait for the FOMC and BoC. Australia was on holiday, which made for somewhat lower volumes, but it was mainly the upcoming FOMC announcement that put a lid on markets. Ukraine tensions and speculation over gas supplies to Europe in case of an escalation of tensions with Russia are weighing on sentiment. UK PM Boris Johnson now has to answer the police over “partygate”, with calls for him to resign getting louder.   USD (USDIndex 96) continues incline – 3rd day above 20-DMA. The 10-year Treasury rate is up 0.4 bp at 1.773%. The 10-year JGB rate is also slightly higher, but the 2-year paper found buyers as the BoJ summary shows commitment to loose policy. – The bank’s stance focused on providing stimulus to reach the 2% inflation goal. Treasury’s $55 bln 5-year auction was super strong. Equities – The USA100’s -3.18% drop paced the weakness, followed by a -2.8% loss on the USA500 and a -2.3% decline on the USA30. Today, Topix and Nikkei corrected -0.25% and -0.44%, GER40 and UK100 futures are up 0.66% and 0.84% respectively, while the Euro Stoxx 50 is 0.7% higher. Earnings: General Electric, beat on earnings, but missed on revenue, which weighed heavily while American Express provided upside support on solid earnings led by record credit card spending. Microsoft beats expectations with $18.8bn profit. Central banks clearly are getting nervous about the risk of second round effects, but the IMF’s growth downgrades yesterday also highlighted the risks from slowing momentum in China and virus developments. USOil – up to $84.60 – API data shows US crude stocks fall,Biden threatens sanctions on Putin over any invasion, markets await Fed update, US approves oil exchange from strategic reserve. Yemen’s Iran-aligned Houthi movement launched a missile attack on a United Arab Emirates base hosting the US military. Gold – down to $1844 from $1854. Bitcoin at $37,000 handle. FX markets – USDJPY steady at 113.95. EURUSD at 1.1295 & Cable at 1.3500. European Open – Bund futures are under pressure, while US futures are moving higher, while in cash markets, the German 10-year Bund yield has lifted 0.4 bp to -0.08%. BTPs are supported though and spreads are coming in. Today – Along with today’s BoC and FOMC result, the earnings calendar is heavy. Today’s slate features several biggies, including Tesla, Abbott Labs, Intel, AT&T, Boeing, Anthem, ServiceNow, ADP, Lam Research, Crown Castle, Norfolk Southern, Freeport-McMoran, Progressive, Kimberly-Clark, Amphenol, Ameriprise, Corning, Nasdaq, Hess, Teradyne, Seagate, United Rentals, Raymond James, and Teledyne. Data includes the December advance goods trade report Biggest FX Mover @ (07:30 GMT) CADCHF – Breaks 0.7300 (R1) from 0.7195 lows on Monday. Fast MAs aligned lower intraday with all momentum indicators pointing further higher. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.