Discussion of the Forex Contest Squared Financial Forex Contest

We've just disqualified over 30 traders - please note this is an on-going process so we will continue to disqualify accounts throughout and at the end of the contest.

Staff posted:
We've just disqualified over 30 traders - please note this is an on-going process so we will continue to disqualify accounts throughout and at the end of the contest.

Wow, thanks Ethan

These contests are becoming a contest of the programmers rather than of the human trading race?
You can get a Grand Master to beat a machine at chess but turn up the speed… it becomes harder & harder to dodge the bullets.
Arbitrage, pip-hunters, scalpers…the list goes on, the question we should be asking is: why do the owners of automated software capable of generating thousands of percent in 1 day spend their time on a race for a $500-$3500 account?
The Algorithmic trading Expert Adviser I am using is a development project & called INCREMENTALGAINS_2.0. If anyone would like to purchase a demo copy you can send me an email incrementalgains@gmail
Hang on…why would anyone be selling a piece of software that can generate its own wealth (this is a well worn question)?
Is there anyone else here from New Zealand? The country is so small I can probably see you from where I am sitting (metaphorically).
You see being from New Zealand, we have our waking hours when the markets are slow so we have to innovate & make auto-trading software (Q: What do you call a blonde who has dyed her hair brown? A: Artificial intelligence.)

Hello Everyone!!! I think winner must be selected based on the strategies etc. Having about 6000% a day its to risky. I believe with real money its almost impossible. When you trade demo you are not attached emotionally to a trade.

Out of curiosity, what is the reason for those traders to be disqualified?

May we know the reason for their disqualification... what was their offends?

Staff posted:
We've just disqualified over 30 traders - please note this is an on-going process so we will continue to disqualify accounts throughout and at the end of the contest.

Well Done :)

Keep in mind that this contest runs for almost a month. Bot trades or cheaters will be disqualified as per previous post. Trades making crazy lucky trades will eventually increase the stakes and blow their accounts. Making huge profits in one day is one thing, keeping them is entirely a different story.

It ain't over till its over, good luck all

Staff posted:
We've just disqualified over 30 traders - please note this is an on-going process so we will continue to disqualify accounts throughout and at the end of the contest.

please supply a link to the contest terms

вот и все а вы переживали )

Staff posted:
We've just disqualified over 30 traders - please note this is an on-going process so we will continue to disqualify accounts throughout and at the end of the contest.

Haha - well done

Just wondering but what rules did they break ?

The top trader currently has a lot of loosing trades running...soon he will be done.

i agree everyone, who thinks arbitrage trading is not the right way to win a contest and its unethical. BUT i don't think that disqualification is the solution. Need CLEAR RULES which are contains every possibilities and restrictions. Disqualified someone during contest because there weren't no such rules i think is not OK. This is my opinion...

It really makes no sense to make humans compete against A.I This contest is like comparing oranges and apples. Why not have EA-only contests and No-EA contests separately?

myFXbook has been around for sometime now and has hosted many trading competitions and, as such, they should know how to create a more level playing field in competitions to make the event more pleasant, enjoyable, and give Newbies the chance to experience their trading skills being pitted against other more experience traders.

olajoshal posted:
i agree everyone, who thinks arbitrage trading is not the right way to win a contest and its unethical. BUT i don't think that disqualification is the solution. Need CLEAR RULES which are contains every possibilities and restrictions. Disqualified someone during contest because there weren't no such rules i think is not OK. This is my opinion...

There are clear rules and the broke them, hence disqualified.

These rules are normal broker rules.

Staff posted:
We've just disqualified over 30 traders - please note this is an on-going process so we will continue to disqualify accounts throughout and at the end of the contest.

Just want to help you find them easier ! If you check the big number of trades and then the duration of trades which is les than 2s you can easily find them. Once again thank you very much for cleaning the contest from cheaters ! :)

I also report these 3 !

Pannik
meer55
brocker