Discussion of the Forex Contest 24FX Forex Contest

Hello I just want to beat my husband. He's going to lose me. and the money will be good in the end ...

Master_Kiwa posted:

XharpScalper posted:
1==============='Any prizes will be added into customer's trading account and can be withdrawn subject to the following withdrawal requirements; In order to withdraw your winnings; you must have a trade volume of 50x your winnings. For example: For every $1 of the prize, you must have a trading volume of $5000 in order to be eligible for withdrawal. '

2=============='Should you request a withdrawal before the wagering requirements have been met, your bonus and winnings may be rendered void. '

myfxbook should do something about these conditions , they will not give money even you win contest ? unless u use very high lots and again earn it

bonus and winnings may be rendered void????? why is that so.

MyFxbook do something about it , its not compatible with standard of myfxbook.

 Many people seem to be more concerned about withdrawing, instead of actually trying to win the prize. Not to mention if you were to win the prize, you could always 'hedge' the winnings out of the account into another account. ;) This way you don't have to worry about 'withdrawal' requirements. How to 'hedge out the prize' is something you guys have to figure out yourself. I definitely won't explain how it is done. Not to mention guys this is 'free money', why so much bitching about it?

yes you can hedge but amount of lots or volume they require will eat your whole account in reserve margin and it will close quickly.
further more if you put random hedge no body know which way it will end if it goes in the account your trying to get a rid then it will create some more problems.

XharpScalper posted:

Master_Kiwa posted:

XharpScalper posted:
1==============='Any prizes will be added into customer's trading account and can be withdrawn subject to the following withdrawal requirements; In order to withdraw your winnings; you must have a trade volume of 50x your winnings. For example: For every $1 of the prize, you must have a trading volume of $5000 in order to be eligible for withdrawal. '

2=============='Should you request a withdrawal before the wagering requirements have been met, your bonus and winnings may be rendered void. '

myfxbook should do something about these conditions , they will not give money even you win contest ? unless u use very high lots and again earn it

bonus and winnings may be rendered void????? why is that so.

MyFxbook do something about it , its not compatible with standard of myfxbook.

 Many people seem to be more concerned about withdrawing, instead of actually trying to win the prize. Not to mention if you were to win the prize, you could always 'hedge' the winnings out of the account into another account. ;) This way you don't have to worry about 'withdrawal' requirements. How to 'hedge out the prize' is something you guys have to figure out yourself. I definitely won't explain how it is done. Not to mention guys this is 'free money', why so much bitching about it?

yes you can hedge but amount of lots or volume they require will eat your whole account in reserve margin and it will close quickly.
further more if you put random hedge no body know which way it will end if it goes in the account your trying to get a rid then it will create some more problems.

 That is just it.... You would simply have to know exactly HOW to hedge correctly. A nice hint would be hedging the same pair, and maximizing your position with the high leverage which they offer. What happens is most of us don't realize that market has a sweet spot. When you know the sweet spot on 1m, 5, or even 15m the position which you take should never close you for more then 5 pip profit at any given time. Which results in a R:R of 1:6 or even 1:10 in most cases.

Master_Kiwa posted:

XharpScalper posted:

Master_Kiwa posted:

XharpScalper posted:
1==============='Any prizes will be added into customer's trading account and can be withdrawn subject to the following withdrawal requirements; In order to withdraw your winnings; you must have a trade volume of 50x your winnings. For example: For every $1 of the prize, you must have a trading volume of $5000 in order to be eligible for withdrawal. '

2=============='Should you request a withdrawal before the wagering requirements have been met, your bonus and winnings may be rendered void. '

myfxbook should do something about these conditions , they will not give money even you win contest ? unless u use very high lots and again earn it

bonus and winnings may be rendered void????? why is that so.

MyFxbook do something about it , its not compatible with standard of myfxbook.

 Many people seem to be more concerned about withdrawing, instead of actually trying to win the prize. Not to mention if you were to win the prize, you could always 'hedge' the winnings out of the account into another account. ;) This way you don't have to worry about 'withdrawal' requirements. How to 'hedge out the prize' is something you guys have to figure out yourself. I definitely won't explain how it is done. Not to mention guys this is 'free money', why so much bitching about it?

yes you can hedge but amount of lots or volume they require will eat your whole account in reserve margin and it will close quickly.
further more if you put random hedge no body know which way it will end if it goes in the account your trying to get a rid then it will create some more problems.

 That is just it.... You would simply have to know exactly HOW to hedge correctly. A nice hint would be hedging the same pair, and maximizing your position with the high leverage which they offer. What happens is most of us don't realize that market has a sweet spot. When you know the sweet spot on 1m, 5, or even 15m the position which you take should never close you for more then 5 pip profit at any given time. Which results in a R:R of 1:6 or even 1:10 in most cases.

you are actually not understanding what am trying to tell ya.
you have 2 account one is real , other is fake(untill volumes target achieved)
now if both are hedged , market takes turn in the favor of fake account , real account will be drained empty , fake will have all balance and will still be requiring certain volumes to be traded ,
you will be doomed if this happens.

You are looking at 1 of 2 possible outcomes. Instead of thinking that you only DRAIN the REAL account, you can simply have the REAL account with very small amount of funds. Say you win the first prize of 5k. You can simply trade with a real account of 50 usd and drain the 'demo' account out that way. You have many ways of doing it, but of course a pessimistic individual always looks at the worse possible outcome. I won't continue to play 'tennis' with anyone else over this issue. I am simply stating there is way to get the bonus money out. Of course there is a risk of it going against you, but EVERYTHING we do in live has risk. Yet, every RISK can be countered. Some people just simply can't think past go.

Master_Kiwa posted:
 You are looking at 1 of 2 possible outcomes. Instead of thinking that you only DRAIN the REAL account, you can simply have the REAL account with very small amount of funds. Say you win the first prize of 5k. You can simply trade with a real account of 50 usd and drain the 'demo' account out that way. You have many ways of doing it, but of course a pessimistic individual always looks at the worse possible outcome. I won't continue to play 'tennis' with anyone else over this issue. I am simply stating there is way to get the bonus money out. Of course there is a risk of it going against you, but EVERYTHING we do in live has risk. Yet, every RISK can be countered. Some people just simply can't think past go.

yes its possible to earn this money but a bit difficult , and normally traders consider it cheating if broker don't allow to withdraw prizes.
regarding 'tennis' i was just answering your question , i myself don't like pointless discussion but there was a point which i explained. GOOD LUCK

Pf_fineco posted:
wich app we need to download?
mt5? mt4?

definitely MT4 ....

del

XharpScalper posted:

Master_Kiwa posted:
 You are looking at 1 of 2 possible outcomes. Instead of thinking that you only DRAIN the REAL account, you can simply have the REAL account with very small amount of funds. Say you win the first prize of 5k. You can simply trade with a real account of 50 usd and drain the 'demo' account out that way. You have many ways of doing it, but of course a pessimistic individual always looks at the worse possible outcome. I won't continue to play 'tennis' with anyone else over this issue. I am simply stating there is way to get the bonus money out. Of course there is a risk of it going against you, but EVERYTHING we do in live has risk. Yet, every RISK can be countered. Some people just simply can't think past go.

yes its possible to earn this money but a bit difficult , and normally traders consider it cheating if broker don't allow to withdraw prizes.
regarding 'tennis' i was just answering your question , i myself don't like pointless discussion but there was a point which i explained. GOOD LUCK

   I am not sure exactly how it is 'cheating' if a broker doesn't allow you to not withdraw a prize. What if they didn't have any specific terms in order to withdraw the prize. That would mean that one person could create 20 myfxbook accounts, and get 20 demo accounts, and have the ability of winning the top prize 20 times more. I do agree that restriction is a bit stick, but then again it is a contest and it is free money.

I can sure many people will pass this one...

No need to spend your time for a contest that does not make sense like this!

Hi everyone

we have all registered for a competition. I presume that all of us have have done so that we can trade our skills on a demo account to try and win the prize money. I think the prize money is secondary, let us try and win first, then only can we think about the withdrawal procedures.

The whole object from the brokers point of view is that who ever is the winner will definitely have the skills to trade on a real account and be eligible to withdraw from their live account by accomplishing the required volume from their live account.

Hence the broker gains from having the winning participants as clients.

We as trader must not squib about withdrawal, we have to first put our skills and strategies into practice and win the competition.

What we gain from the competition is that we get to hopefully meet other traders and to implement our strategies in the competition, this leads us to make friends with fellow traders from around the world regardless of who wins.

Let us all take this opportunity to participate in this competition and may the best trader win.

Good luck to all.

adrian71 posted:
No need to spend your time for a contest that does not make sense like this!

Adrian, why ?

Привет. Так что делать надо?
В чем суть конкурса?

shehnaz786 posted:
Hi everyone

we have all registered for a competition. I presume that all of us have have done so that we can trade our skills on a demo account to try and win the prize money. I think the prize money is secondary, let us try and win first, then only can we think about the withdrawal procedures.

The whole object from the brokers point of view is that who ever is the winner will definitely have the skills to trade on a real account and be eligible to withdraw from their live account by accomplishing the required volume from their live account.

Hence the broker gains from having the winning participants as clients.

We as trader must not squib about withdrawal, we have to first put our skills and strategies into practice and win the competition.

What we gain from the competition is that we get to hopefully meet other traders and to implement our strategies in the competition, this leads us to make friends with fellow traders from around the world regardless of who wins.

Let us all take this opportunity to participate in this competition and may the best trader win.

Good luck to all.

 Well said mate. I bet you most of the ones who are bitching about the withdrawals won't even finish in the top 100.

zubr posted:
Привет. Так что делать надо?
В чем суть конкурса?

Как что? торговать демосредствами для получения наилучшего результата

hash condition,they are not real

andryou80 posted:

zubr posted:
Привет. Так что делать надо?
В чем суть конкурса?

Как что? торговать демосредствами для получения наилучшего результата

С этим понятно, но я не понял в чем условие победы..
По-ходу, не как обычно: набомбить больше всех, а проторговать определенное количество лотов.
Так?

Hi everyone . Good condition
to evaluate our.