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Forex Contest FX Choice

Mar 03 2015 at 07:54
5 posts
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.
FX KISS (tineg)
Mar 03 2015 at 07:55
45 posts
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 (Shahlegno)
Mar 03 2015 at 07:55
31 posts
I hope this contest will be much better experience for our trading, good luck all traders...moga berjaya.

Swing with professional passion.
Mar 03 2015 at 07:57
1 posts
Mar 03 2015 at 07:57
2 posts
There is a rule: The use of commercial robot is prohibited.

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


Mar 03 2015 at 08:25
47 posts
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?

Mar 03 2015 at 08:31
209 posts
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.

Mar 03 2015 at 08:35
209 posts
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.

Mar 03 2015 at 09:52
21 posts
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.)

Mar 03 2015 at 09:53
21 posts
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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