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Forex Contest 24FX

Apr 20 2014 at 05:31
5 posts
wich app we need to download?
mt5? mt4?

YM Leong (ymleong)
Apr 20 2014 at 05:31
31 posts
if not mistaken its in terms of vol in $, 'For every $1 of the prize, you must have a trading volume of $5000 in order to be eligible for withdrawal.'

This meant assuming you trade only usd base currency, ie, eurusd, gbpusd, audusd, nzdusd. NOTE again its TRADING VOLUME of $5000 per $1

Assuming that u won 1st prize of $3750, ==> $3750 * $5000 ==> $18,750,000 🙃

1 lot of eu @ 1.38815==>$138,815. This works out to be abt 135 lots of EU. The trade volume is AFFECTED by bid/ask of that currency, if u trade GU, u would be able to reach ur target sooner. Whilst if u trade au, u will need more lots.
Typically an average active trader can trade abt 50-100 lots per mth, (unless the trader prefers positional trades, or slowly does it). Otherwise depending on that trader (and his/her EA that helped to win that prize), its abt 1 mth or even 1 day.😱

To win this prize, its obvious whether that trader has a good strategy (which may include entry/exit/lot allocation). Its more likely that this trader that wins has some sort of EA to help with that. If this trader can hit abt 100-150 lots within this 1 mth contest, and get that deserved prize, then its no doubt that the trader can easily formulate the same strategy to get away the prize $. Whats more impt is that we all enjoy ourselves, besting each other, making friends, and even sharing strategies with each other (without spilling all the beans) during the contest. Its the best platform to meet like minded traders who always love a challenge 😎

I have always kaputted my contest acct with all sorts of hairball EAs, until the recent ExcelMarket 9Jan-8Feb, whereby I was placed 8th. Just enjoy the ride and the excitement. Make friends, ignore naysayers, be confident, be gracious. When u know u r lossing and doesnt look like there's any hope, withdraw from the contest (esp after u hv lost 50% of the balance). At least u now know whether your EA's or strategy/ies work. And what r u doing if it doesnt? Just crying? NOW, go register and join the challenge! 😉

Let your mistakes be your cornerstones NOT tombstones
ForexKing (sachinkumar)
Apr 20 2014 at 05:35
43 posts
Right said bro the condition is worst , Myfxbook should remove this type of contest.

Want To Be A Business Tycoon
Bambang Iriyanto (biriant)
Apr 20 2014 at 06:27
1 posts
Yes, it's look difficult to WD even you win in the contest. I agreed for the opinion. Just register and if you not comfortable with it you can cancel the later.😁

Don't stop learn and practise.
Apr 20 2014 at 06:31
29 posts
it mean that use the prize to make the trade of 5 million to get 1000$

Apr 20 2014 at 06:32
1 posts

I would like to know how much money would be added to demo account and what is the leverage.

Have any body answer me?

Sayed Iqbal Ahmed Kadiri (shehnaz786)
Apr 20 2014 at 06:33
6 posts
these terms are ridiculous. if you do not have a live real account then it is not worth participating in this contest.
MyFxbook should do something about these terms

sensible trading and live to fight another day.
Muhammad Kashif Qureshi (PanoramaForex)
Apr 20 2014 at 06:33
4 posts
Dear if you peoples feel terms and condition are tough then why you also not select contest of any other broker

Apr 20 2014 at 09:02
27 posts
I join a contest just to find out where I stand among the world best traders. The sponsor broker is a business entity not a charitable organization therefore to look after their profits is their basic right. Besides the price, we can think of other things. The joy of participating, get to know the other traders, sharing trading strategies etc.
Cheers to all participants.😄

Apr 20 2014 at 09:13
85 posts
I hope they work well with scalpings.

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