So the contest of traders on real accounts, organized by the administration of one of the best forums in the Russian Internet, has ended – ForexMoney… Prize fund in 180,000 rubles and the site for the tournament were provided by a brokerage company InstaForex, for which, of course, many thanks to them. Indeed, thanks to the holding of such contests, traders have the opportunity to win a good prize, which can be used to increase the funds on the account, or they can acquire another deposit and thereby expand the range of traded instruments.
As you well know, I try not to miss such events and this time I also took part and even managed to bite off part of the cake from the prize fund (17,000 rubles).
The most interesting thing is that in order to be among the winners, you had to increase your account by only a few percent. It might seem like a pretty simple task, but most traders have found it too tough for most traders this month.
What can I say? If you look at the profitability curve of my account, you can clearly see that the drawdown on the account reached 50% and only at the finish it was completely leveled.
Why did it happen?
Personally, I have several reasons:
one. The market was difficult as many patterns broke and false breakouts were frequent.
2. After boosting the account to 50%, I increased the volumes so that I could catch up with the leaders of the competition at a faster pace. As a result, instead of a decent profit, I got a series of indecently large stops.
And what conclusion can be drawn if we analyze the above figure? Or maybe you don’t need to place stops, because do they only hinder the achievement of the goal? But if I followed this path, then with a true breakdown, my account would be on the margins of the standings, like the rest of the market participants.
Therefore, one can make only one correct conclusion: “If you learn not to lose, then the profit will find you!”