Thread: October Contest Results - Winner Returns 1006.91%

Below are the final results from October's King of the Micro Contest.

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1. China - 1006.91% Survey / Trade Report (.xlsx version)

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2. Malaysia - 796.66% Survey / Trade Report (.xlsx version)

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3. Hong Kong - 567.91% Survey / Trade Report (.xlsx version)

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4. Canada - 343.49%

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5. Singapore - 339.25%

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6. China - 280.30%

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7. Canada - 233.63%

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8. China - 229.07%

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9. Taiwan- 211.27%

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10. Singapore - 210.53%
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Congratulations to all the winners!


*Past performance is not indicative of future results, as returns may vary according to market conditions.

Is the results are October or September?

Originally Posted by ewaves

Is the results are October or September?

Hi ewaves,

This Top 10 list is of the current leaders for October's King of the Micro Contest.

September's winners can be found here:

http://forexforums.dailyfx.com/king-...tml#post597601 (September Contest Results - Winner Returns 2,860.58%)

Have a good one!

Rob

I wonder how can someone make 998% in less than 3 business days into the month especially under such unpredictable markets, even if they over leverage their account to the max is still not logical.

Originally Posted by a25y

I wonder how can someone make 998% in less than 3 business days into the month especially under such unpredictable markets, even if they over leverage their account to the max is still not logical.

If you have made 400 pips profits in 3 days as the following trading :

50K 100 pips
100K 100 pips
150K 100 pips
200K 100 Pips

If the beginning equity is US500, the result is 1000%.

If you have done so you must know the market very well especially if you have started with $500 and I congratulate you for that, but that's exactly my point, how can the market move your way 4 times 100 pips each with increased lots each time? If I do that I get stopped out in no time because my trades will attract the market.

Originally Posted by a25y

If you have done so you must know the market very well especially if you have started with $500 and I congratulate you for that, but that's exactly my point, how can the market move your way 4 times 100 pips each with increased lots each time? If I do that I get stopped out in no time because my trades will attract the market.

Hi a25y,

It is possible to hit a streak like this and put a large amount of money on it. But when trading with leverage that high, it only takes one bad trade to completely wipe out the account or receive a margin call which will DQ the account. High risk high reward, but one misstep can lead to disaster.

Rob

Originally Posted by Rob at FXCM

Hi a25y,

It is possible to hit a streak like this and put a large amount of money on it. But when trading with leverage that high, it only takes one bad trade to completely wipe out the account or receive a margin call which will DQ the account. High risk high reward, but one misstep can lead to disaster.

Rob

Words of wisdom Rob! BUT I'M GOING TO MISS THE 400:1 LEVERAGE AND THE POSSIBILITY OF ENORMOUS GAINS IN A SHORT PERIOD OF TIME. GOV'T REGULATION..........................

Hi Rob - That is true, but I have been a customer since 2006 and following this contest since then, rarely did we see more than 600 - 700% at the end of the month for the 1st prize winner and to see 998% in just 3 days is a bit strange. Lately this has been happening a lot which could be lucky like you said.

Maybe it would be a good idea not to display the results on weekly basis which discourages other cotestants who are trying to win and yet playing safe, let it be a surprize for everyone :-)

Originally Posted by a25y

Hi Rob - That is true, but I have been a customer since 2006 and following this contest since then, rarely did we see more than 600 - 700% at the end of the month for the 1st prize winner and to see 998% in just 3 days is a bit strange. Lately this has been happening a lot which could be lucky like you said.

Maybe it would be a good idea not to display the results on weekly basis which discourages other cotestants who are trying to win and yet playing safe, let it be a surprize for everyone :-)

Hi a25y,

Thanks for the suggestion! A few months back, we began listing the weekly updates due to the overwhelming amount of requests we received from traders wondering where they stood in the contest. Actually, many of the competitors have requested updates more often than a weekly one, but we feel a weekly update is a good balance between information/surprise and excitement. Waiting a full month would be grueling if you have 1000% after a week of trading. You would be wondering "Is that enough? Should I risk my equity for more profits?"

On a different note, don't give up on the contest just yet. Trading with high leverage like the current leader is prone to getting a Margin Call at anytime. I wish the current leader the best of luck and hope this does not happen, but want to let everyone know that it is a possibility.

Have a good weekend!


Rob

Originally Posted by Rob at FXCM

Hi a25y,

Thanks for the suggestion! A few months back, we began listing the weekly updates due to the overwhelming amount of requests we received from traders wondering where they stood in the contest. Actually, many of the competitors have requested updates more often than a weekly one, but we feel a weekly update is a good balance between information/surprise and excitement. Waiting a full month would be grueling if you have 1000% after a week of trading. You would be wondering "Is that enough? Should I risk my equity for more profits?"

On a different note, don't give up on the contest just yet. Trading with high leverage like the current leader is prone to getting a Margin Call at anytime. I wish the current leader the best of luck and hope this does not happen, but want to let everyone know that it is a possibility.

Have a good weekend!


Rob

hahahhahahahahahhaha

hahahahhahahahahahhahahaha

that is the biggest load of crap ever.


You have more of a chance to get a margin call
with 50:1 ratio because all your money is in deposit



$500 balance
eur/usd
$1.5 a pip = $450 deposit

$1.5 a pip = 33 pip stop loss = $50


bammmmmmmmmmm margin call

Then you wouldn't use $450, that's the whole point. With a US account I never had a margin call and I made 368% in June. I moved to UK account in Sep and lost my account the first trading day because I over leveraged it.

Originally Posted by a25y

Then you wouldn't use $450, that's the whole point. With a US account I never had a margin call and I made 368% in June. I moved to UK account in Sep and lost my account the first trading day because I over leveraged it.

I am not trying to be mean but, it is clear from your questions you dont fully understand leverage and money management.

There are arguments about leverage if it is good or bad
but there is one topic that both sides agree on.

By doing a 50:1 ratio now makes trading only for the rich.

There is no way you will win a trading competition with a 50:1 ratio
becuase it is true you will not use $450 but
you will have small losses wich also means small gains


what you accomplished with 100:1 ratio may now take you twice as long with a 50:1 ratio

I understand leverage very well pal, I am not new to trading and clearly from your replies you are not being mean you are just being rude to everybody and not following the main topic. My point is with 100:1 ratio I made over 368% which was enough to put me 3rd in the competition but I took my money out in the last day because I didn't think I stand a chance to win when I saw excessive gains, but apparantely, many of the contestants ahead who were using over leverage either dropped out as well or withdrew so I missed my chance. With 50:1 ratio or 100:1 (for all) gives a chance for safe traders to win even if they didn't have to make 10,000,000%. Also, not showing the results on weekly basis will not discourage people like me and cause them to withdraw from the competition on the last day.

Originally Posted by a25y

I understand leverage very well pal, I am not new to trading and clearly from your replies you are not being mean you are just being rude to everybody and not following the main topic. My point is with 100:1 ratio I made over 368% which was enough to put me 3rd in the competition but I took my money out in the last day because I didn't think I stand a chance to win when I saw excessive gains, but apparantely, many of the contestants ahead who were using over leverage either dropped out as well or withdrew so I missed my chance. With 50:1 ratio or 100:1 (for all) gives a chance for safe traders to win even if they didn't have to make 10,000,000%. Also, not showing the results on weekly basis will not discourage people like me and cause them to withdraw from the competition on the last day.

If you have done so you must know the market very well especially if you have started with $500 and I congratulate you for that, but that's exactly my point, how can the market move your way 4 times 100 pips each with increased lots each time? If I do that I get stopped out in no time because my trades will attract the market.

you may not be a new trader but obviously a slow learner asking
newbie questions.

wowww 4 times 100 pips
wowwwwwwwwwwwwww

how can that happen. wowwwwwww

Its like if someone was a professional chef asking
how do you make peanut and jelly sandwich?

wowwwww
you put peanut. then jelly on bread

wowwwwwwwwwwwwwwwww


hahahhahahahahaha