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Forex Contest FX Choice
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SpartanFX

Member Since Oct 02, 2010  5 posts SpartanFX Mar 03 2015 at 07:54
yes... FXChoice takes US traders so US traders are allowed in contest. Trades any way you would like martingale and grids system are not good to trade in the long run good trading to all.

Trade the market you have, not the one you want.
tineg

Member Since Mar 09, 2013  45 posts FX KISS (tineg) Mar 03 2015 at 07:55
Can someone help me explain...

On MT4, when I open an order and see 0,01, 1... Is 0,01 a micro lot? And 1 a mini lot? or is 1 a standard lot?

"Failure is simply the opportunity to begin again, this time more intelligently." ~Henry Ford~
Shahlegno

Member Since Nov 29, 2014  31 posts Shahlegno Mar 03 2015 at 07:55
I hope this contest will be much better experience for our trading, good luck all traders...moga berjaya.

camilesz

Member Since Aug 23, 2014  1 posts camilesz Mar 03 2015 at 07:57
cool

toconar

Member Since Feb 16, 2015  2 posts toconar Mar 03 2015 at 07:57
There is a rule: The use of commercial robot is prohibited.

Could somebody define what will be considered a 'commercial robot'?

Thanks

InsideMan
gao48

Member Since Nov 07, 2009  47 posts gao48 Mar 03 2015 at 08:25
tineg posted:
Can someone help me explain...

On MT4, when I open an order and see 0,01, 1... Is 0,01 a micro lot? And 1 a mini lot? or is 1 a standard lot?
yes

RahmanSL

Member Since May 08, 2010  209 posts RahmanSL Mar 03 2015 at 08:31
It depends on what type of trading account you registered for. If 'cents' account, then profits will be in cents for 0.01, 0.10, etc.
For mini and standard account, the dollar value for 0.01, 0.10 etc will be as the type of trades you make.

RahmanSL

Member Since May 08, 2010  209 posts RahmanSL Mar 03 2015 at 08:35
There are a number of brokers who have 'Trader's calculator/Currency Converter' ...I use Exness under 'Tools'....which helps to convert trades value, margin requirement, etc at whatever leverage & type of account you use.

jdwbryan

Member Since Feb 15, 2013  21 posts jdwbryan Mar 03 2015 at 09:52
That last contest thread set a new record for dumb questions easily answered by reading the rules...and definitely for the most whiners. Hopefully this will be better...though I see the questions have already started.

We do need to clarify the rule regarding 'commercial robots' though. As a couple others have asked, how would they differentiate between EA's that were purchased and ones that were coded by the trader themselves....or ones downloaded for free. Does this mean no EA's at all? (I don't use them so it makes no difference to me...but this IS a good question that needs an answer.)

jdwbryan

Member Since Feb 15, 2013  21 posts jdwbryan Mar 03 2015 at 09:53
RahmanSL posted:
To prevent 'gambler Trader(s)' who open large lot size trades and luck-that-through-with-a-large-wining-position, I would suggest a limit size on lot trades (perhaps 10.0 lot size) and maximum 5 open trades at any one time.
With these two additional T&C in place, that will give new traders a chance in the competition.


There are no such 'rules' in the real world so this is a dumb idea IMHO. If somebody wants to trade balls out they should be allowed to...if they make good trades and know what they are doing they win big...if not, they blow up their account real fast. I've said this before but I'll say it again: Soros didn't become rich and famous by risking 2% per trade. That's just the way it is with short 1 month contests like these. If you want a 'prop trading simulator' type of contest, go enter the Dukascopy one.

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