How is it possible to have trades with a duration of ZERO seconds? Am I missing something?? (SHOK74)? Should be separate contests for manual traders and auto traders. There's no way a human can make a trade open and close in less than one second and do it over and over and over again. Something stinks.
Gioteen posted: Both clomu and shok74 are using same pip-hunting EA , this is cheat and they should disqualify these two and others who use these kind of cheats! He used it in FXCM also and they disqualified him ! Lets clean the contest from cheaters !
Yup..i don't like the way they use this strategy to win, it's obviously a cheating, should report make a complained to the broker about this...they will learn their mistake, we should make this contest a Fair & clean contest for everybody.
Frankly, myfxbook's contest are really irrelevant and dumb nowadays. In fact, to be harsh, it's low, inferior quality. it is ALWAYS crowded with such bots that can't work in real life. within half a day, the conventional traders are dead & buried for the rest of the contest. total loss of motivation to continue with the contest after half a day. Why don't myfxbook just create a contest of the bots separately. if the bots make million in a day, why are these so called traders competing with the rest of the pack for a mere $3500 prize?
Yes, agreed that there should be some rules to curb insane trading in Demo contest to give contestants a more level playing field such as:
1) Limit the maximum lot size that can be made at any one time.....e.g 10 lot size 2) Limit the maximum numbers of trades that can be opened at any one time .....e.g 10 opened positions with maximum 10 lot size each. 3) Each opened trades cannot be closed for at least 3 minutes.
Of course there are many more other rules which will give Traders, especially Newbies, a chance to see how they play out with more seasoned Traders.
With no limitations, this contest is left wide open to Traders who simply make ridiculous large lot size trades (e.g 1000 lot size) and, if they got lucky, will put them at the top of the pack.
....and quite frankly, even if I somehow managed to win in this contest (FAT chance since the leaders are so far ahead already), I don't think I will open a 'Live' account with this broker because they do encourage 'crazy & reckless' trades which is definitely not what good, trusted, and responsible brokers will encourage.
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