Discussion of the Forex Contest FX Choice Forex Contest

Mar 02, 2015 at 08:37
18,552 Views
930 Replies
Biedrs kopš   1445 ieraksti
Mar 02, 2015 at 08:37
This topic is for discussing the Forex Contest FX Choice.
Biedrs kopš   50 ieraksti
Mar 03, 2015 at 00:51
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.
“Everybody should have a dream. What if that dream comes true?” – Jack Ma
Biedrs kopš   5 ieraksti
Mar 03, 2015 at 07:33
Is this contest open to US Citz?
Biedrs kopš   132 ieraksti
Mar 03, 2015 at 07:33
good luck
keep smile
LuisGarcia
forex_trader_97117
Biedrs kopš   3 ieraksti
Mar 03, 2015 at 07:44
Enlighten something:
 Do you allow only manual operations?
 Banning all types of EAs?
Biedrs kopš   4 ieraksti
Mar 03, 2015 at 07:45
Good luck to all contestants 😇
Biedrs kopš   2 ieraksti
Mar 03, 2015 at 07:46
Hi, Can I use EA made by me? Use of experts advisor is allowed? I read that we cannot use commercial robot.
Mar 03, 2015 at 07:48
'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?
jaume.torne@
Biedrs kopš   214 ieraksti
Mar 03, 2015 at 07:53
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! 😀
Biedrs kopš   2 ieraksti
Mar 03, 2015 at 07:54
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.
Biedrs kopš   5 ieraksti
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.
Biedrs kopš   45 ieraksti
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~
Biedrs kopš   31 ieraksti
Mar 03, 2015 at 07:55
I hope this contest will be much better experience for our trading, good luck all traders...moga berjaya.
Swing with professional passion.
camilesz
forex_trader_204760
Biedrs kopš   1 ieraksti
Mar 03, 2015 at 07:57
😎
Biedrs kopš   2 ieraksti
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
Biedrs kopš   47 ieraksti
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
Biedrs kopš   214 ieraksti
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.
Biedrs kopš   214 ieraksti
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.
Biedrs kopš   21 ieraksti
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.)
Biedrs kopš   21 ieraksti
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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