Trade of the Week: Rules of the Contest

what a wonderful idea jii…i m really excited to beat it

I just joined this forum. Can I also be a part ofthe contest?

your question is quite interesting but as there are different quotes from different banks so they always choose bad quotes to hit your stop loss. If you see the lows and highs at bloomberg or at reutors you will always see a difference and this is how brokers cheat - but if you are good enough with your strategy they cannot cheat and every broker don’t do this. I have been trading from a long time with a company fxdialogue and I was never cheated because my broker’s interest and my interest matches. My broker want me to earn so we have a long term relationship. I traded with the companies like GFT , FXCM but all disappointed me.

Risk percentage: Yes, yes, we know you all want to earn the largest amount of money in the shortest time possible, but here in BabyPips.com risk management is the number one priority. This means that your trade ideas can only risk a maximum of 5% of the account. You can risk as little as 0.01% or as much as 4%, but never over 5%!

this looks so breathtaking.

fantastic-great idea

can’t wait to enter

Am I allowed to use my own hyper charts.

That’s good idea.

I liked that idea too.

I’ve found rather interesting contest for scalpers and wanna to trade. Could anybody prompt good ea?

This is nice and smart idea . Was very interesting to learn . If you wish to learn more about forex ask mario singh about this

Hi forex ninja ,iam a beginner here at the school of pipsology and i want to know what the dialogue is all about.

Wouldn’t a competition based on one trade only lead to someone just being lucky on one trade winning? Wouldn’t it be better to see performances over multiple trades to see good strategies ?

Fascinating read.

does newbie like me can also join here?

Appreciate your post i find it helpful.I am just a newbie any tips that you may impart will be highly appreciated.

Good thread forexninja.

Hi!You’re right its a great idea it’s really interesting.

Three Disciplines of Successful Traders

  1. A trader must believe in The 10 Keys to Successful Trading and merge them into their
    personality. Success depends on creating a trading plan, and maintaining the discipline to TRADE
    THAT PLAN!
  2. A trader must be committed to Continuing Education. Study technical analyses and the
    psychology of successful trading. A trader must make logical decisions, void of emotions, while
    trading. Learn to trade in control!
  3. A trader must map out a sensible equity management plan to ensure a Return On Investment.
    Trade no more than 20% of a Margin Account and expose no more than 5% of that account on
    any single trade.

Levels of Traders

Level One
Beginner Trader - Studies and paper trades for a minimum of one month with pretend currency, gaining
the experience required to establish a track record of profitable performance.

Level Two
Advanced Beginner - Trades one or two lots with real money, learning to overcome emotions and at the
same time, establishes a track record of making money.

Level Three
Competent Trader - Trades with control over their emotional distractions. Utilizes proper equity
management and achieves a positive financial return.

Level Four
Proficient Trader – Trades with confidence, education and experience. Achieves positive financial
returns.

Level Five
Expert Trader - Instinctively executes profitable trades without emotion.

ForexNinja
im a newbie and i noticed that this competition was running in 2011…what was the outcome of the competition?..who won and what kind of trading ideas was usefull…im looking for a trade plan not using too many indicators, which i can stick with…untill i learned more and feel more confident
regards