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7/58
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The rules in the trader contest are forcing me to re-evaluate my entire participation in the contest. Some of the aims of the contest include encouraging traders to show long-term consistent trading results, and encourage traders to share their trading ideas with other traders. A standard is now being set; with a maximum acceptable drawdown of 60%, the Dukascopy Forex Community (DFC) administrators are now placing some focus on risk management.
The contest begins with each trader having a DEMO account containing $100,000. The account is to be traded for a period of one month, and is subject to several trading restrictions which form a part of the contest rules.
A trader’s objectives are very simple:
  1. Make maximum profit
  2. Keep Drawdown below 60%
It is necessary to note that having the highest account balance does not guarantee winning a cash prize, there are several other categories where points are awarded. Points are awarded for daily posting on the trader contest blog and the use of pending (conditional) orders for all trades opened.
Many of us know these rules, but there are still traders who trade well but lose points because they ignore the blog points and use of conditional …
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sarah_gio avatar
sarah_gio 29 July

+11

Kivetat avatar
Kivetat 30 July

BIg like

SikmaN avatar
SikmaN 31 July

cool)

Decebal avatar
Decebal 31 July

well done

KATRIN_90 avatar

well done))

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22/38
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Overview

In this article i'm going to share the elements i have found in the past 3 years of research on how to become a professional trader.I have read and taken notes from every article,forum or book i could find on the internet about trading and these are the steps i consider to be the most important in the journey one begins in the trading world.
1. What is trading?

Trading is participating in the global opportunities game. To be successful to any degree one needs to identify an edge, a slight skewing of the opportunities in one’s favor . Let's say we toss a coin 1,000 times and record the amounts of heads and tails, one could reasonable deduct that each occurrence would happen 50% of the time, now suppose one would add a small weight to one side of the coin, one could reasonably deduct that the weighted side would land bottoms down more then 50% of the time. Trading is very similar, a trader finds a way to tilt the odds in his favor by identifying patterns and fine tuning entries to those pattern. A price moves up because there are more buyers then sellers, a buyer will buy a currency because he expects to be able to sell if at a later tim…
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lupyyyy avatar
lupyyyy 23 May

Thank you Pisakjanos ...You 2!

OneGoodTrade avatar

Good work. It would be nice to see in a future article a trading system that follows these rules.

lupyyyy avatar
lupyyyy 25 May

Thank you ! i'm planning on doing that in the future

doctortyby avatar

Good article both for beginners and pros (to remind them some discipline) :) Regarding the emotional balance and management, in practice things aren't that simple :)

lupyyyy avatar
lupyyyy 31 May

Thank you for the feedback and details !best of luck

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25/38
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Overview :

The Good about trading is financial stability for a lifetime. Tickling the market at one's convenience.
The Bad about trading is frustration, torment, loss and failure.
The Ugly belongs to those that have become insolvent, destroyed relationships, lost homes and even committed suicide.
Content :

The paradox about trading is that if you are not obsessed with it and do not put in supreme time and efforts, then you will not become an excellent trader. But if you are obsessed with it, you will fail.
The answer to the riddle lies in just how you are obsessed and just how far you will go with it. Are you positively or negatively obsessed with your trading ?
The Good have concentrated their efforts and reaped the rewards. The Bad have not done their homework and have sustained stress and losses. And the Ugly have simply gone too far.
The height of insanity is hitting your head against a brick wall over and over and expecting a different result. If Forex is hurting you, then you must, must, must stop and analyze why. And action a new solution. Even if you do this a hundred times before you get a favorable result, it is the only way you will progress in Forex. Just remember, Th…
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Elani avatar
Elani 16 May

Hope you are not that trader :)

Stix avatar
Stix 16 May

I sat through the ordeal with the person in question. Wasn't my money but the experience scarred me for life. Something I will never forget. And something I strongly don't recommend.

Erialda avatar
Erialda 16 May

Good Psychology Stix, i always had in my mind mind that trading psychology is the key of your success!Good Luck

Ifuga avatar
Ifuga 17 May

Some sobering thoughts right there. But one has to live through some of what you describe to really understand.

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41/58
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The most important, the easiest to learn and ...the hardest to do.
The base foundation of any successful trading system should be a rock solid money management. We could all agree that in order to stay profitable we need to have our mind on three things. First being a good and consistent trading system, second using that system on the right market(s) at the right time and third being self-tailored and respectively followed money management technique. Out of these three, the third one is the most important, it is for sure the easiest to learn, however sometimes, it can be the hardest thing to do.
The Most Important
Most of newbies in retail forex burn their first accounts to zero because of non existing money management, guess what, most professionals would burn theirs to if they would by some wonder forget all about it, it is all about containing the risk factor within acceptable boundaries. Other thing that finely tuned capital management technique and all the discipline associated with it is really good at is prevention from just one bad trade eating the profits of ten good ones. By doing so it crystalizes your trading behavior in a mathematically correct manner. So at the end of…
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doctortyby avatar

Compound Profits and Losses.they can work for you or Against You.+!

ritesh avatar
ritesh 26 Feb.

excellent article. +1

bebasvemir avatar

tnx, ritesh!

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38/58
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Hello, I just want to show you how to use Dukascopy's wonderful export features to generate rich graphs like the following: 
Hopefully yours will end up looking a little more.. upwards than mine!The first step is to install spreadsheet software. For this article I'll be using OpenOffice's free software though I'm sure you could achieve similar results with a commercial product.Once you have the software installed we need to create a new spreadsheet file. Simply go to My Documents or wherever, right-click and choose New->OpenDocument Spreadsheet. Rename it to whatever you like.The next step is open up your Dukascopy platform and choose to view a 'Portfolio Statement' report: By default it only shows the last 5 days trading but we want our graph to cover all of our history, so change the from date to the start of your account or earlier.Now click Reload and wait until it's finished (this may take a while if you've been trading for a long time).What we're interested in here is the Export button which will create a text file for us. Go ahead and click it. Again this step might take time to complete if you have a lot of data.Choose to open the file with Notepad (or alternatively save th…
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elen avatar
elen 25 Feb.

i like this one

ritesh avatar
ritesh 26 Feb.

both the 1st image and rank chart looks same. curve fitting is a nice technique to make money online selling strategies that worked in past

ritesh avatar
ritesh 26 Feb.

a +1 for the nice article explaining the chart making process.

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