FXCM mini contest

K

Kicking

Not long ago I started a thread where I expressed my frustration trading with FXCM. I would like to apologize to Baron, FXCM and other ET sponsors for being so negative about an ET sponsor. Baron is a nice guy and FXCM is a leading FX dealer with outstanding customer service as is Gain Capital I am sure by the way.

So I got this email from my favorite FX dealer, FXCM and it makes mention of a mini contest. Check it out:
http://www.fxcm.com/contest/mini_winners_contest.html

Seriously now, the 3d guy shows AMAZING records for the period with many intraday trades in different pairs and a mind boggling hit rate especially considering how difficult daytrading currencies is, with or without the 5pip spread . I would be very interested to hear from anyone who took part in that contest and finished in the top 5 and especially if you are that L Miles who made 25K in one month with a 11K account trading only 5 -10 mini lots ! I am sure some of the previous winners are on ET.
 
Impressive, my only thought tho is that they are very highly leveraged. The winner of the contest was using 100X leverage on many occasions, rarely below 30X. Same with the others.
 
Quote from Kicking:

Not long ago I started a thread where I expressed my frustration trading with FXCM. I would like to apologize to Baron, FXCM and other ET sponsors for being so negative about an ET sponsor. Baron is a nice guy and FXCM is a leading FX dealer with outstanding customer service as is Gain Capital I am sure by the way.
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Kicking,

Are you kidding? Someone EDITED your post, and erased others. Why the complete 180?...can't wait to hear this one explained.

This FX forum is becoming more fishy by the hour.

...and I thought the stock market was sleazy... :) :) :)
 
8. NO SCALPING: At FXCM’s discretion, entrants may be removed from the contest for employing trading techniques resembling “scalping” or “picking”.


what's picking, clicking on their old quotes?

So no contest winners here on ET? 22,000 members and noone to share their experience? You can always PM me if you don't want to post.
 
Quote from clandestine:

Kicking,
Are you kidding? Someone EDITED your post, and erased others. Why the complete 180?...can't wait to hear this one explained.
This FX forum is becoming more fishy by the hour.
...and I thought the stock market was sleazy... :) :) :)
More...

Yes, he's kidding! :D :D :D

...He is, isn't he :confused:
 
Quote from Idoogye:

Yes, he's kidding! :D :D :D

...He is, isn't he :confused:
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Good God, you'd hope so...come on brotha Kicking, talk to us...

Oh, and FXCM: Why no scalping/picking? Is that not a legitimate trading style?
 
All platforms have their problems, with FXCM it happens when currencies move fast, most of the time currencies move slowly. Also FXCM has a neat website.


So has anyone made it in the top 5 ? Don't be ashamed, let us know.
 
Well I have to come to the conclusion that either there aren't any FXCM contest winners among the 22,000 ET members or they declined to reply, being too busy setting up their CTA program .

Or could it be that currency futures traders aside, there are only mediocre FX traders on here not even worthy of trading with FXCM?
 
Quote from Kicking:

Or could it be that currency futures traders aside, there are only mediocre FX traders on here not even worthy of trading with FXCM?
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Haha good one.

Question though: Why the hell would any decent forex trader pour his heart and soul into a month-long mini-contest? For the time invested, the potential reward is a pittance. This contest is akin to "ring toss" at the carnival.

I know guys that could rip this contest apart, but what's the point? You want a real contest? Make it one week long, allow all trading styles (no scalping??? - F off...), and add a "0" to the reward $. Better traders would surface.
 
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