King of the minis - Question

F

ForexPro

I had a look at some of the winning trades by some of the monthly winners, with some winners gaining a monthly return of 500%.

My question is are these results sustainable or did the traders have a lucky month?

Has anyone here won a fxcm prize? If so, how are u doing since the prize?
 
Hi! I've also looked to some reports of the winners and I think they got only lucky, just because they do not used any kind of money management strategie. some of them started with an account of $2000 and used 10 minilot just to open a position.So risking 50% of their capitan on just one trade. I think this is not a sound money management principle.
 
Hi Pipshunter,

I'm not certain we can assume they risked 50% with the numbers you have given. With 10 minis and $2000 in the EUR/USD, they would be risking 50% of their account if their stop was 100 pips back from entry.

If their stop was only 20 pips back from entry, they would be risking 10% of their $2000.

Of course, 10% is still a lot by industry standards!

L
 
when one win the contest (top prize) = USD$2500.

capital required USD 1000. That's a good risk reward game to play. not about trading, but a good chance to win. if you lose, you lose 1000. if you win, you win 1000x3 + 2500 = 5500.

50% equity x 3 trades x 100 pip would win you the prize.

you need to win once every 4 months to breakeven.
 
There was one guy who took 8k and turned into 60k in a month. Its good to see the different styles though. I have quadrupled a demo in a month, but think i just got the direction right on the trades. In a ranging environment i would have been turned over.
 
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