Seems results have moved to other threads with no warning!
Sear the forum : King of the Mini Contest
You will get November and December 2007 results
No January results yet!!!

Hi,

Does anyone know where the KOM winners for January have been posted.
Also are we able to see a record of the actual trades the winners made? This will be really useful.

Thanks
Kind regards
Judith

Dear Judith,

January results, as well as February results will be posted in the next couple of days in their respective threads.

Top Five trading statements are always posted in PDF format to allows traders like you to view all trading activity for the month.

Best regards,

KOM

__________________
http://www.forexmicrolot.com/trading-contest.jsp

Hi there, is the Mini Contest still running? I would like to take part for the contest in May 2008

Hello MtoK,

I just like to find out who is corrently leading the mini-competition and may get the winner from April 2008

Best regards,

Remo

Hi swiss769,

You may find the April winners here http://www.learncurrencytrading.com/...ad.php?t=14134

You will notice that the top trader is from Greece, as well as see the trading statements for the Top Five traders in April.

Best of trading!

KoM

__________________
http://www.forexmicrolot.com/trading-contest.jsp

I've followed the king of the Mini for about a month and the trading ideas posted work. While I haven't made 500% I'll take what I can get in terms of returns and ideas. As a begging trader it is a great place for ideas.

Tom's right I get ideas all the time they mainly highlight trends. Plus it's a good place to piggyback on trades. A type of self-fulfilling prophecy that pays. Follow it I have and it works.

What incredible results... It seems like there are two types of big winners: People who get it right most of all of the time and hold their positions for a short time, and those who generally bet against the USD and have held it for a while.

Since the first one takes a ton of skill and education (or a time machine), I think that the second one is a better bet. Many think, however, that the dollar has reached its low point and it going to start recovering. Which currency should we bet against for the long term? Thanks.

Good day all.... Im new to the forex trading and would like to learn and share ideas with experienced persons here who have being in the market and have developed profitable trading strategies which I can try and learn for in order to create my own and make my own contibution later on.

So I'll like to know where I can get an idea of the present strategies being used by the person in the Mini Competition, as well as other profitable strategies that have being tired and tested.

I look forward to learning and getting into the forex market and what a can learn through this forum.

Once a month around the 15th, we will publish the reports of the top traders. We will also write a brief description of their trades.

Click Here for May Results

While these threads are closed for postings (for organizational reasons), you can certainly comment on their trading activities in this thread "King of the Mini Discussion"

To the moderator:

I've looked at the May 2008 results of the top trader in the contest. This trader netted in excess of 400% for the month of May. That's about 1/2 of my routine net ROI for roughly 20 days worth of trading for me personally, so I look at 400% as being very impressive.

Being very impressed with this level of success and knowing what I know about the average success level of most retail Forex Traders, I browsed some of this his/her trades and found this at the very top of his trade report:

Ticket Number: 18136776

Pair: EUR/USD
Notational Value: 10K
Entry Date: 4/30/2008
Entry Time: 6:38
Entry Level: 1.56364
Entry Type: Mkt
Exit Date: 5/1/2008
Exit Time: 0:33
Exit Level: 1.56038
Net/Loss: +32.60


Ticket Number: 18136778

Pair: EUR/USD
Notational Value: 10K
Entry Date: 4/30/2008
Entry Time: 6:38
Entry Level: 1.56364
Entry Type: Mkt
Exit Date: 5/1/2008
Exit Time: 0:33
Exit Level: 1.56059
Net/Loss: +30.50

Can you see the problem here?

Trading the currency markets at what I would call the "hyper successful level", is not an easy task. It takes years of research, study and work. Anybody can be "successful" at trading the currency markets but precious few are what I call "hyper" successful. For me, that level begins at 300% net ROI per month. That translates into a net ROI of 3,600% Annual, and that blows the doors off of any Hedge Fund in the world and some of those guys are getting paid up to Billions per year to manage their respective block of capital. So, anyone who can surpass the test of 300% per month on a consistent basis, has in my opinion, entered the realm of the "hyper" successful currency trader.

Having said that, take a close look at these two (2) trades. What's wrong with this picture? Something is very wrong here and if you propagate this error throughout the entire month, it gives the illusion that someone actually netted over 400% for the month.

I'm not going to tell you what's wrong here, but I did want you to know that "curious eyes" have noted a problem with the reported results.

Given the retail FXCM Trading Platform and the platform's current level of functionality (yes, the upgraded one) it would be both physically and logically impossible for these two trades to have been executed by this trader in this way.

Extrapolate that problem throughout the month of May at various places within the reported results and the question is begged: "was the net return actually 400+%?"

Thanks for your reply.

The entry and exit prices for these trades are actually reversed from what you noted.

18136776: Bought EURUSD 10K
Entry: 1.56038, 4/30/2008, 6:38am
Exit: 1.56364, 5/1/2008, 0:33am
Profitt: 32.6 pips

18136778: Bought EURUSD 10K
Entry: 1.56059, 4/30/2008, 6:38am
Exit: 1.56364, 5/1/2008, 0:33am
Profit: 30.5 pips

That said, I am thinking that you may also be referring to the discrepancy in the time zones. The entry/exit points on this traders report are in GMT, so if you would like them to match with your charts you will need to subtract 4 hours.

In regards to making 400%, we see traders with these kinds of profits every month. While it is very possible to see these types of returns, the challenge is maintaining this record over the course of several months.

Let me know if this was not what you were referring to.

So, extracting these two elements, my focus should have been on:

4/30/2008, 6:38am
5/1/2008, 0:33am

Simultaneously with,

4/30/2008, 6:38am
5/1/2008, 0:33am

So, with changes in GMT +/- as a given, how do you account for this?

You have two independent trades, executed at exactly the same time, by the exact same trader, using the exact same trading platform. A trading platform, that [given the last time I checked] is not capable of executing such trades as there is no current Multi-Trade Interface designed into the GUI, nor any such process running on the Trade Execution Server itself.

What is equally as confusing is that at the very same time, you have both trades being executed [entry-time] at the exact same time, yet still both trades being entered at two different price levels.

How is this possible? Thanks.

Who are the winners?