Trading contest: only 5.2% were profitable

but that isn't what he meant here.......

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I also think one of the only reasons some people don't make it huge is because they'll settle for a certain amount then start trading cautious. At least, that's what one trader interviewed by Jack Schwager seems to have implied when he said: "There are bold traders and old traders. But there are very few bold and old traders."
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He means if you take high risks you probably will not get away with it long term. True.
 
Quote from TraderZones:

DEMO account contest - then one needs to adjust the results downward to remove slippage/spread/commission(implied).

But the worst thing is, that a lot of those top "5.2%" profitable were probably due to blind good luck. Run the contest again, and see how many of those 5.2% wind up on top again...

Longterm (10-30 years) lucrative (like $100K+ annual profits with good trading metrics/stats) traders are most likely < 1%.
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What about the traders who risked insane amounts on their trades because they had nothing to lose? If you're going to take into account slippage/spread/commission due to demo, then you also have to take into account the different mindset and strategy a trader would have with real money on the line. In short - there is no way to predict what % of these traders would be profitable with real money.

You continuosly discouraging other traders ON A TRADING FORUM is equivalent to showing up at high school sporting event and telling the athletes to just give up because only x% make it to the pros. We get the point - you don't think it's possible to trade profitably for an extended period of time.
 
Kass, he has a point. Unfortunately for us all, comparing oneself in a financial endeavor has realistic consequences, assuming you do so without gaming the system.
 
Quote from TraderZones:

Obviously, you did not get the point.
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Obviously you are a very sad man who has nothing better to do with his time than to sit on ET and bash everything anyone says. I can spot your posts without even looking at the user name.
 
Quote from bkveen3:

Obviously you are a very sad man who has nothing better to do with his time than to sit on ET and bash everything anyone says. I can spot your posts without even looking at the user name.
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I can spot your posts by the low IQ. Since you obviously did not grasp the dialogue, you are glaring...
 
Quote from clambill:

I think you can misunderstand me just like I can misunderstand you. By fitlering process, I was thinking more along the lines of what would happen if I eliminated signals if they occured for example at certain parts of the day. Like the if EUR/JPY is calm between 10AM and 7PM.

However, I never saw your explanation on the 4 different ways moving averages can cross.
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One simple question related to your work in progress...have you determined your stop loss points and what are your profit goals per trade and end of month...also what is your max drawdown strategy?

NiN
 
One year I signed up to compete in CNBC's trading contest. I went in to make one trade and their stupid system wouldn't let me do it. So, I never made a trade and I ended up in the 93rd percentile.
 
Quote from mavericktrader:

One year I signed up to compete in CNBC's trading contest. I went in to make one trade and their stupid system wouldn't let me do it. So, I never made a trade and I ended up in the 93rd percentile.
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By 93rd percentile do you mean in the top 7% ? Meaning that 93% lost money since you made no trades?
 
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