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The May forex trading contest is over. Congratulations to the winners of $50 Amazon gift certificates. Winners, please email me at
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with your email address. You will receive your gift certificate via email.
1st category is Aggressive Trading
The trader with the highest portfolio return % in the month of May with a maximum drawdown greater than 10% but less than 20%.
WINNER is ALEX with a return of 50.82% and maximum drawdown of -17.13%.
2nd category is Conservative Trading
The trader with the highest portfolio return % in the month of May with a maximum drawdown greater than 5% but less than 10%.
WINNER is QLAUN with a return of 76.53% and maximum drawdown of -6.54%.
3rd category is Money Manager
The trader with the highest portfolio return % in the month of May with a maximum drawdown less than 5%.
WINNER is Got Gas Money2? with a return of 23.52% and maximum drawdown of -4.13%.
OTHER NOTABLES WHO MISSED OUT:
Forex4H who placed 2nd in Conservative Trading category with a return of 27.96%.
Black Day who wouldn't have placed due to a maximum drawdown of -25.25%. Nevertheless, he had a return of 27.12%.
Milton placed 2nd in the Money Manager category with only a maximum drawdown of -2.94% and a return of 16.17%.
Show me the money placed 3rd in the Money Manager category with an impressive maximum drawdown of -1.41% and a return of 8.56%.
kiwipedia placed 4th in the Money Manager category with the lowest maximum drawdown of all traders -.65% and a return of 4.31%.
me. Not notable but I'll mention it anyway. I ended May at -5.53% with a maximum drawdown of -1.51%.
Forex Trading
June 2007
forex
forex blog
LOL, Rich. That drawdown ought to be enough to take the wooden spoon had it been the highest. A word of advice to those considering taking trades based on Thompson Fin. positions - DON'T!
Well done the winners especially QLaun whom, it appears, stayed up all of May to trade 24/7 ;) .... And to to Rich for making this month more enjoyable by way of goodies.
For me, the first few days were traded based on Thompson IFR Markets positions which quite frankly would have had me in a total panic were it not for the fact that it was my game account. I spent the rest of the month taking trades solely via limit orders using 1-2-3 breaks on the hourly charts and holding for longer when a trade stuck with the 60min and 240min trend. So that's how I turned it all around.
Best wishes to all who took part,
Black day
Black day Rich, are you sure you are calculating your drawdown properly? If you finished the month with a -5.53% return, your maximum drawdown must be AT LEAST -5.53%. Am I missing something? I should have been clearer. I read your post about maximum drawdown, but the definition there seems incomplete. A drawdown is not over until a new equity PEAK is made. The drawdown is not over as soon as there is a winning trade. I'm afraid that may be the way you are calculating it. Set me straight! ;-) Thanks for the comp Rich, I had a bit of a lack of motivation for the first 3 weeks of the competition so put on some silly (big) trades towards the end.
QLaun, please feel free to share your strategy ;)
My strategy is just simple medium term trend trading, normally with very conservative MM, though went silly for the last week of this comp with trades up to 20% Ed, Oanda calculates the maximum drawdown. I have to look further into how they calculate it. What you're saying does make sense though. I read 2 great articles about how to calculate and deal with draw downs. One was at www.TradingEducation.com and the other was www.TraderChat.com
Hope this helps other readers. I read 2 great articles about how to calculate and deal with draw downs. One was at www.TradingEducation.com and the other was
Hope this helps other readers. — Forex TraderCan these winners give us some ideas on their strategy?
These guys are making 50% returns... that\'s hot. |
