Discussion of the Forex Contest FX Choice Forex Contest

This topic is for discussing the Forex Contest FX Choice.

here is hoping the rules of this FX Choice Contest will be set out more clearly from the start. good luck to all contestants. may all your trades be in the green.

Is this contest open to US Citz?

good luck

Enlighten something:
 Do you allow only manual operations?
 Banning all types of EAs?

Good luck to all contestants 😇

Hi, Can I use EA made by me? Use of experts advisor is allowed? I read that we cannot use commercial robot.

'The use of commercial robot is prohibited'
commercial means a robot that you can buy on the market?
or it means all kind of robots?

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.

I have checked out this broker and, though I am not too keen on a broker headquarter & regulated in Belize City, Belize, I will try out their trading platform in this competition and see what happens from there.

Also I have checked reviews on couple forums and see that a representative, Anthony K, from FXChoice is very active to resolving complaints from their clients....and that suggest to me that this broker is active in building up their reputation. Impressive! 😀

May I clarify the rule in the contest which says 'The use of commercial robot is prohibited.' Does this mean we can not use Expert Advisors of any kind or only those being sold in the market? Thanks and good luck to all.

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.

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?

I hope this contest will be much better experience for our trading, good luck all traders...moga berjaya.

😎

There is a rule: The use of commercial robot is prohibited.

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

Thanks

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

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.

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.

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.)