Most be the Holy Grail...

jerry11901 · Apr 14, 2005

Yufeng Qiu is the First Weekly Winner in the Final Forex Championship
Congratulations to Yufeng Qiu who had an increase of 697% in equity during the first week of the competition and is the winner of the $1000 award.

However the contest has just begun and there is still $9,000 in awards left!. So, as we head towards the next weekly winner and the final grand prize winner, track the Championship leaders via the leaderboard at www.finalforex.com.

Congratulations again to Yufeng Qiu and good luck to all traders in the coming weeks.

:eek:

Peter35 · Apr 14, 2005

Quote from jerry11901:

Congratulations to Yufeng Qiu who had an increase of 697% in equity during the first week of the competition and is the winner of the $1000 award.

:eek:

697% in one week:eek: :eek: He must be genius

empee · Apr 14, 2005

do they post the actual trades how he did this?

I dont see how you can make 700% in 1 week. That seems stupendous, do they let u use intraday margin requirements with overnite positions?

Peter35 · Apr 15, 2005

Quote from empee:

do they post the actual trades how he did this?

I dont see how you can make 700% in 1 week. That seems stupendous, do they let u use intraday margin requirements with overnite positions?

I needs much luck...he risks too much because it's demo account and he aims at high profit to win the prize....

Imagine that 100 traders started to trade in a crazy way make 500% profit in 2 weeks....most of them will lose but at least one or 2 will be lucky to win all trades and make this high profit....it's more like a game not real trading

mind · Apr 15, 2005

COULD THIS THREAD BE REMOVED FROM THIS PLANET?

thnx

Equalizer · Apr 15, 2005

Quote from Peter35:

I needs much luck...he risks too much because it's demo account and he aims at high profit to win the prize....

Imagine that 100 traders started to trade in a crazy way make 500% profit in 2 weeks....most of them will lose but at least one or 2 will be lucky to win all trades and make this high profit....it's more like a game not real trading

Indeed that is correct.

Welcome to the wonderful statistical concept of Survivorship Bias.

CoralReef · Apr 15, 2005

Quote from Equalizer:

Indeed that is correct.

Welcome to the wonderful statistical concept of Survivorship Bias.

Yep, I guess its like the guy that wins the 2000 player poker tourny, doesn't mean he can ever do it again.

Equalizer · Apr 15, 2005

Quote from CoralReef:

Yep, I guess its like the guy that wins the 2000 player poker tourny, doesn't mean he can ever do it again.

Nicholas Nassim Taleb has written a book titled "Fooled By Randomness" that discusses such phenomena, and the problems humans have in interpreting such events.

Well worth a read if you haven't already...

Peter35 · Apr 16, 2005

Where can i find this book?

Learner · Apr 16, 2005

Quote from Peter35:

697% in one week:eek: :eek: He must be genius

He is a chinese from mainland China by reading his name.
Yufeng Qiu

and two other chinese on the top 10 leaderboard:

Wei Wang (No. 6)

Dahu Zhang(No. 10)

I tried to put their chinese names here but ET does'nt take chinese characters.