I would like to challenge another trader out there to a competition.
The competition will be for fun and prestige.
I think it would be a good opportunity not only for a trader that wants to prove their skills in direct competition with another but also one that wants to learn, since I find that the act of competing with another, plus the fact that this thread and the combatants trades will probably be scrutinized by many people, will make me work harder.
The challenge is open to any trader. It does not matter what your style is. Day trader, swing trader or position trader.
The rules can be negotiable but should be set in stone before the competition begins. I think a fair date to start should be 1st June. That gives us over a month to iron out the rules and also to find a kind volunteer to be adjudicator in the event there are any disagreements.
I think the account should be a real money account but I think the winner should be judged on pips made not on percentage increase or amount won. That means you can start with as small a balance as you like.
The rules I have come up with so far are:
The competition will be for fun and prestige.
I think it would be a good opportunity not only for a trader that wants to prove their skills in direct competition with another but also one that wants to learn, since I find that the act of competing with another, plus the fact that this thread and the combatants trades will probably be scrutinized by many people, will make me work harder.
The challenge is open to any trader. It does not matter what your style is. Day trader, swing trader or position trader.
The rules can be negotiable but should be set in stone before the competition begins. I think a fair date to start should be 1st June. That gives us over a month to iron out the rules and also to find a kind volunteer to be adjudicator in the event there are any disagreements.
I think the account should be a real money account but I think the winner should be judged on pips made not on percentage increase or amount won. That means you can start with as small a balance as you like.
The rules I have come up with so far are:
- All trades must be posted here BEFORE they are taken. This applies for both entry and exit.
- Positions are not limited to forex – you are welcome to trade anything that moves. I understand that many markets move much more than forex but since they can move against you as easily as for you, I do not think this offers any advantage.
- Once each trade is closed, a screenshot of the position should be posted (feel free to blur out personal details)
- An independent adjudicator to be appointed for disputes.
The winner will be declared by number of pips profit after SIX weeks from the start of the date.
I would suggest that 50% of the winnings go to a charity of the losers choice.
So, any takers?
Tom