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Question for all demo contest lovers..........

BasketScalper
May 03 2013 at 09:32
13 postów
I think the others don't use it cause it's more complicated to use it cause it needs a calculation.

germantrader
May 03 2013 at 21:52
32 postów
Hi BasketScalper

Calculation shouldnt be a problem today. it should be easy to implement it. the question is if it makes sense. it is a pity that not many traders here want to jump in and discuss it.

thanks again for the input

cheers

Hunaini (hunainian)
May 03 2013 at 22:32
10 postów
Just for an example about such a contest, you can see on instaforex daily or weekly and monthly contest with some very good contest rules, examples:

Monthly Trading Terms on Great Race contest

        1. After the Contest registration is completed the Participant becomes a demo account holder.
        2. Initial deposit is 100000 USD for all participants and it cannot be changed. (this deposit could be vary)
        3. 1:500 leverage. (this is vary too, depend on the deposit) but all insta contests use 1:500
        4. Demo account is opened for every step of the Contest.
        5. All orders put at non-market price are destined to cancellation. The Contest Administration reserves the right to disqualify an account, in case it was employed for trading at non-market quotes.
        6. Contest participants may use Expert Advisors and any trading strategies without restrictions. (this optional)
        7. Major currency pairs and Forex crosses are the only available trading instruments at the Contest.
        8. Minimal trade volume is 0.01, maximal - 10 lots. A step is 0.01 lots.
        9. Contest participant can change his trading account to Swap free by contacting the Support Department.
        10. The maximum number of open trades including pending orders is 5.
        11. Stop Out level is 10%.
        


All trader can only open 5 order with 10 lot max. Including pending order.
And the other charts cannot open, only major currency could.

This is a very good for money management and skill to trade. a Trader cannot gambling with their contest account. They will be stick to their strategy, whether intraday, scalper, or swing trader, etc.

It only a suggestion to you. Please take a look on their contest rules. Daily or weekly or monthly.

Cheers

a little profit now, and will become a huge profit later
germantrader
May 04 2013 at 19:20
32 postów
Hi Hunaini

thank You very much for your posting, each opinion is very helpful.

lets start with 100k initial deposit and leverage 500:1. dont You think that is far to much to have 500:1 leverage? the 100k initial deposit I think that 100k or 50 or even 10k are somehow acceptable and will not have a big impact on the gambling effect.
if I am wrong please correct me.

I agree that this rule all in all gets very near to real trading. but for example the stop out level of 10% seems a bit tough and I am sure that most of the traders will not like it.

but please get this conversation going, because it is very helpful to find a good and acceptable rule. but what I am wondering if traders are really interested in a more strict rule or they like to have this gambling rules?

cheers

germantrader
May 09 2013 at 10:12
32 postów
Hi Guys

I thought I will inform You that our first weekly beta demo contest is starting on Sunday night and is open for registration. $1000 CASH Prize Pool.
I will not post here our address because I respect this forum but if some one is interested I will PM.

to admin if this posting was not acceptable , I apologize and please take it down 😄

cheers

M.Kasravi (kasravi)
May 14 2013 at 08:18
25 postów
I'm interested,

Not giving a quarter away.
germantrader
May 14 2013 at 08:23
32 postów
Hi kasravi

You missed this weekly because it started yesterday 😞, but registration is open for next weekly demo contest 😄

I will PM You. thanks for the interest.

cheers

BasketScalper
May 14 2013 at 10:21
13 postów
There is another improvement that could be made, on the contest toplist when we hover over flag it could give the country name instead of 'country' like now.

germantrader
May 14 2013 at 10:46
32 postów
Hi Basketscalper

thank You for the feedback. I forwarded it to the IT team to take care.

very much appreciated

how is it going for You? are You in the top list?

BasketScalper
May 14 2013 at 10:51
13 postów
Yes my contest name is Condor so for the moment i'm at a good position.

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