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How discipline was the Real Winner in the PlayMakerChallenge

   

We challenged a group of traders to stay disciplined for 2 weeks with the assistance of PlayMaker - the live discipline monitor. Here’s what happened.

Background: Traders were all given Valutrades demo accounts with $10,000 opening balance, and the following set of rules:

Money Management

Daily Loss Limit of $500

Maximum Open Trade Limit of 3

Maximum Losing Streak of 3


Trade Management

Maximum Loss Per Trade $100

Traders were given the PlayMaker discipline tool to alert and monitor their money management discipline and their individual trade discipline.

By following the rules, a trader could score 100% on discipline for the day, regardless of P&L. We expected to see better discipline, and more successful traders, and we weren’t disappointed. Here are the highlights:

 65% of traders were profitable.

 Every account was still tradable at the end of two weeks, the largest drawdown was 72%.

 Less than 6% of accounts had drawdowns greater than 50% of their account balance.

The impact of discipline was clear to see with good discipline clearly showing a much higher
likelihood of success.

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Was there a difference between successful traders and unsuccessful traders?

We looked at traders who made money, versus traders who weren’t successful at making money.

 Winners had perfect discipline 38% of the time, and on those days they were 97% likely to have a winning day.

 Losers had perfect discipline 29% of the time, and on those days they were 87% likely to have a winning day.

 The average discipline score for winners was 84% while for losing traders it was 78%.

 

💪 Congratulations to the TOP 3 💪

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You can see the full list here


Clear Findings
Those that were more disciplined did better than those who broker more rules. Perfect discipline doesn’t come naturally, and it takes time to master, but the results clearly indicate that its worth the effort.

 

Find a New Trading Edge with Chasing Returns

 

Disclaimer:

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way.

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