Discussion of the Forex Contest Vantage FX Forex Contest

Hi everyone. Wanted to know about the rule of only having one account. Does it counts that i have accounts at other brokers?

Kent_Brown posted:
Hi everyone. Wanted to know about the rule of only having one account. Does it counts that i have accounts at other brokers?

Quoting the rules :

'Each contest participant is allowed only one contest demo account. More than one demo account is grounds for disqualification.'

What you have with other brokes does not matter. You could have 100 other accounts. But in this contest only ONE account !
😇

forzion posted:
Well, I am participating in a contest where the max leverage is 1:30 or 1:15 and even in this enviroment some participants were able to make 500% in 2 weeks. Only difference is that no one can win with pure luck in one day. To make consistent profits for a month even with 1:200 leverage is not an easy task. Every moment you can destroy your account with single trade if you overleverage. Every FX competition is a game, there is an oportunity to play it and have fun. If you want to make money out of trading go and open a live account and you can trade by your own rules. You can even get much more in one month than in this competition for 1st place. Just count the probabilities of winning a competition and calculate how many can you make consistently on your own from your own money monthly and you will see that if you want to be profitable you should develop a working strategy and trade real money. If you try to be profitable in contest you missed the point of them. Only few can win others may have fun and gain experience. Is it worth of time if you do not have fun? NO!

Well said 😄

hi
😑 sa va

Hello everyone!

I wish a good competition to all!
I would like to take this opportunity to create friendship leaving the following question to you: 'What is your main way to negotiate'

If you want, let your answer here:
https://goo.gl/forms/qoemyDnZoj0bwYT72

Thank you all!

Then my question is how do you detect different accounts don't belong to a single user? IP ?

tensaix2j posted:
Then my question is how do you detect different accounts don't belong to a single user? IP ?

Depends on how much effort you want to put into it.
IP may be the first step, but if you check accounts and there are different IPs used to login into them, you still don't know if it's not the same user.
Next steps may involve some social media digging, comparing patterns in order history, whatever comes into the minds of people investigating the issue.

Yeah would love this if it was legit manual trading only. A simple Arbitrage EA will easily get a few thousand percent for the month...

I don't wan't to waste my time trading if someone will just use an EA that will have insane results for demo yet blow a real account..

Shown here I got over 30,000% on a demo In a few days.. https://www.myfxbook.com/members/aidan_91/mt4-95824/1504591

There is a massive diffrence between demo and live trading.. Can we have this moderated to reflect a legit strategy?

Lmshow posted:
What is the average rate of return of past winners based on experience? I am new to all these. I don't see myself winning but trying to give it a shot to see what contest looks like.

Winners normally gained return of at least 10,000%...

scalping? 3 5 seconds in trade!!!😲😲😲😲

And how do you define 'legit strategy'?

aidan_91 posted:
Yeah would love this if it was legit manual trading only. A simple Arbitrage EA will easily get a few thousand percent for the month...

I don't wan't to waste my time trading if someone will just use an EA that will have insane results for demo yet blow a real account..

This is exactly what I was getting at in my earlier posts, namely, that there is no level playing field here...

When they advertise these contests they do not say 'By the way, people will be allowed to use robots/EAs so forget

manual trading'... They should just advertise EA contests separately...

Some people on here responded by saying that there is no big difference between repetitive manual trading and an EA,

only an EA is a more efficient way of doing what is done manually, in some styles of trading...

I partly disagree with this type of mixing, because if anyone who does not do EAs (and there are a lot of people out there

who trade manually, so we are not a minority or freaks of nature) wants to enter a contest and is not alerted to the fact that

he or she is competing against machine-run trading, then this is not only uneven but fairly dishonest.

Also, as others said, this is not a good school for proper trading but a school for overleveraging, overtrading, and casino

gambling... That is another topic, but everyone can think for themselves about what to take out of a contest like this

(whether or not they win anything)...

But yes, I agree with aidan_91 saying that this should be manual trading only and it really is a waste of time competing

manually against an algorithm, for example... I would feel much more satisfied being beaten by a HUMAN competitor,

for at least I would know what I as a HUMAN could aspire to... When trading the Valutrades contest I would see people

(or rather, robots) racking up some crazy stuff, like 6,000% returns... This is not a fair contest, let us be honest.

Lets form a topixc/group from here that are all manual traders, and we just compete with each other. forget the rest.

Vantage FX contest will be allowed EA's ? I didn't read nothing about it in the rules 😐😐

aidan_91 posted:
Yeah would love this if it was legit manual trading only. A simple Arbitrage EA will easily get a few thousand percent for the month...

As far as I can see all those doing arbitrage, essentially seconds of trade duration, are disqualified.
There were some EAs which were losing money. Those participants were not touched by Valutrades.

It does not matter.
You can make very risky trades manually and gain 6.000 %, some did.
Everyone has a chance 😈 😇

Just know I have a 91% win rate so you all better bring it! I'm sure I'll get 100,000% return this will be fun!

aidan_91 posted:
Shown here I got over 30,000% on a demo In a few days.. https://www.myfxbook.com/members/aidan_91/mt4-95824/1504591

There is a massive diffrence between demo and live trading.. Can we have this moderated to reflect a legit strategy?

I will bit aidan anytime..i got mind blowing EA that makes over 50000%