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The Dukascopy Strategy Contest is definitely one of the most challenging contest in the contest group. In this contest, a contestant is expected to create a strategy that would trade the Forex market profitably, with a lot of emphasis on high profitability and low account drawdown. This means a contestant is expected to maximize profit, while employing as little risk s possible.
I have participated in the Strategy contest since June 2013, and I am happy to say I have been able to win $1,500 in cash prizes. These were gotten in the months of June and October 2014.
One of the things the Strategy contest tries to do is force a trader to gauge his or her risk exposure. A contestant gets more points if he or she has a lower drawdown during the contest month, while huge drawdowns are rewarded with less points.
An example of this occurred in the month of May 2015.
The trader Cocciolla finished with the third largest balance of 428.10k, yet he ended the month at the 8th place simply because he had a drawdown of 56% during the contest month.
A trader is basically a risk manager. This is because even though his or her job is to find and execute profitable transactions; trading has to be don…
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Jignesh avatar
Jignesh 28 July

Nice article and explanation of what works in the strategy contest.  Very informative

sarah_gio avatar
sarah_gio 29 July

+1

Cremelady avatar
Cremelady 30 July

good one

KATRIN_90 avatar

well done))

AnnaVer1 avatar
AnnaVer1 29 Sep.

Very professional! Thanks)

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24/67
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You will find a possible UGLY TRUTH of how with some
craftiness one can make practically any trading robot perform with such trading
results to make the best professional traders in the world green with envy.  You will understand why selling trading
robots is a potentially very profitable business. Consequently, you will be able to see
marketing campaigns for trading robots in a new light.
What proof
do we get for trading results of trading robots?
Have you ever seen a marketing promotion for a trading
robot? The promise of trading results (fantastic profits in the shortest period
of time) is head spinning.
Have you ever gone to check the web site in the
promotion? If you have you saw many charts as proof of successful trades. All
those charts could be bogus. This is why buyers of trading robots demand to see
trading results.
So trading robots promoters show trading results from
their DEMO accounts. But those could also be forged. This is why buyers of
trading robots demand to see trading results by logging into the trading
account.
So some trading robot promoters allow you to log into
their account. And some (very few but nevertheless!) allow you to check their
LIVE trading accoun…
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RobertBric avatar

@LinnuxFX. Very often a channel forms overnight, called the Tokyo channel. It is defined by the resistance and support when the Asian market was active. At London open you have many false breakthroughs of those levels. So you need to fade the move. Backtesting and optimization will show you the best times, SL, TP and other parameters.

RobertBric avatar

@LinnuxFX. There is a known tendency for the price to oscillate around a round number (00 or 000 and sometimes even at 50) before breaking through of reversing. Find out a statistical distribution of one or the other, optimise with backtesting and go for it. Scalping, of course. Contest rules probably will not let you do this one, I guess.

kkforex avatar
kkforex 23 May

very well researched article 1+

belman avatar
belman 24 May

Nice article +1

Furian avatar
Furian 26 May

man I should read You regulary. exelent job! +1

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What is the
article about?
You will see results of an interesting survey of more
than 1500 traders done a year ago at a webinar which I attended. Such a large
number of participants in a survey makes the survey results rather valid and
credible. Please note traders were trading various markets not only forex.
The focus of the survey was to determine how much
money people had for trading and what their expectations were from trading in a
financial sense.
Participate
in a survey
BEFORE YOU WATCH THE VIDEO or read the rest of the article, please write your view/answers to the
following questions in the Comments section:How much do you believe traders have in their trading accounts on
average?
How much profit do they expect to make per month in % terms?
A VIDEO
version of this article is available on YouTube at http://www.youtube.com/watch?v=-N8BJzjyUnk
Note 1: If
clicking on the video link doesn’t work just copy the link into your browser.
Note 2: The
text below is not an exact transcript of the video.
1st
survey question: How much money do you have?
This question addressed the overall financial
situation of the respondends i.e. in life in general, not just in trading.
Enough or …
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Furian avatar
Furian 24 May

greed and emotion alway put money out of our pockets. caoution. Thanks for any support. +1

belman avatar
belman 24 May

great success for the systematic and good trading strategy +1

samijoe avatar
samijoe 19 July

is this survey for european markets or world wide ?

RobertBric avatar
RobertBric 19 July

@samijoe I don't know the exact nationalities of the people present on that webinar. Based on the time of day when it was held I would venture to say that attendees were from US and Europe because it was night time in Asia and Australia.

PrinceChoco avatar

Very big article, good job

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