I was looking through the results of the top traders on the ATC hosted by metatrader and their results are really good. Do you guys think this is a realistic indication of what these guys can do outside of the championship? Also why havent were heard anything amazing from past winners since if their EA's are holding up they should be multi millinaires by now. Some guys are selling their EA's for $1000, now why would you do that?
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Thoughts on traders in AT championship
- Thread starter Nashequilibrium
- Start date
Its surprising that automated traders don't have anything to say on this topic, or am i missing something here. I have actually looked at these guys reports and found interesting reasons why their stuff would not work on real live trading i am sure others have found this as well.
These traders trade to win. This means taking big risks. A large majority of big risk takers lose big and a small amount breakeven and an ever smaller amount post massive gains.
It takes a very solid strategy to profit off of big risks. Most people who are smart enough to develope an edge like this are usually actually too smart for themselves to actually profit off the strategy.
I could use massive leverage in the forex market paper trading and be successful more than not. Lets say out of 80 trades i have 50 winners. That tells the average person that over time they will succeed. The only problem is that a majority of winner's does not absolutely predict the fact that you might have 3,4 or even more losers in a row. With massive leverage and risky strategies just a couple losers in a row can ruin everything.
But when you have nothing to lose in a competition you slap yourself on the wrist for losing your entire paper trading account instead of entering a deep seated enraged depression.
It takes a very solid strategy to profit off of big risks. Most people who are smart enough to develope an edge like this are usually actually too smart for themselves to actually profit off the strategy.
I could use massive leverage in the forex market paper trading and be successful more than not. Lets say out of 80 trades i have 50 winners. That tells the average person that over time they will succeed. The only problem is that a majority of winner's does not absolutely predict the fact that you might have 3,4 or even more losers in a row. With massive leverage and risky strategies just a couple losers in a row can ruin everything.
But when you have nothing to lose in a competition you slap yourself on the wrist for losing your entire paper trading account instead of entering a deep seated enraged depression.
The top 3 guys who are leading are all scalpers. The funny thing is that they trade eurgbp, with a stoploss of 28 to 30 points and a take profit of 5 points and that profit still needs to be reduced by the spread. The win loss ratio is around 91% to 9%.
So the leader has taken 10 000 to about 150 000 so far but if you look at the spreads offered by brokers, this strategy will not work on real account unless the TP can be increased and if that happens u know that the win loss ratio automatically suffers.
The funny thing is that these guys are getting offers left & right to buy these EA's and some big numbers. IS surprsing that guys cant see these simple pitfalls yet they have so much money to throw around. Also most brokers dont like scalpers and if they say they do, there is still a lot of issues these traders face.
So the leader has taken 10 000 to about 150 000 so far but if you look at the spreads offered by brokers, this strategy will not work on real account unless the TP can be increased and if that happens u know that the win loss ratio automatically suffers.
The funny thing is that these guys are getting offers left & right to buy these EA's and some big numbers. IS surprsing that guys cant see these simple pitfalls yet they have so much money to throw around. Also most brokers dont like scalpers and if they say they do, there is still a lot of issues these traders face.