To use chat, please login.
Back to contacts

So the contest has just began...

Staff (Staff)
Apr 26 2010 at 07:13
1387 сообщений
Lance, the rules are below the registration form ('Contest Rules').

MM is money management - there are no limitations as to how you trade (including scalping, EA, manual trading).

The accounts should be opened with a $1000 balance, however if it's different, it will be reset to $1000 before the start of the contest.

Spyfrat (Spyfrat)
Apr 26 2010 at 17:21
52 сообщений
im kinda new to mt4. i downloaded my contest platform in my office last week. today i downloaded said platform in my home. do i have to use 2 different platform? im kinda confused to as im a noob. 10 yrs trading using with oanda makes me a virgin to EAs and all.

BlueMental (BlueMental)
Apr 26 2010 at 20:57
27 сообщений
Thanks. You might have noticed, I edited in my idiot missing of the rules in the previous post.

Two things that are appropriate to know is that the margin call at FXDD kicks in if it drops below 100%. The same thing happened to me in the SureFire compettition which is currently running. So without knowing this, I had assumed that margin call was at 50% as my two brokers are, (MB Trading and Go Markets), which disqualified me. They did allow me to re-enter though. Which brings me to the second item of importance.

Only one entry allowed. You mess up and you are out!


SureFire Prizes. (Direct Wire transfer to winners bank account - sponsored by FXCM)
1st Place $15,000
2nd Place $10,000
3rd Place $5,000
4th Place $3,000
5th Place $1,000

Direct cash wire into the winners accounts.


Here is a transcript of the questions I asked the FXDD live chat. It was sent with a question asling aboughtFXDD's thoughts regarding scalp trading.

You have been connected to Richard M..
Richard M.: Hi, welcome to FXDD Live Talk.
Richard M.: No thoughts, we allow it
Lance: hi
Lance: I want to know what FXDD thinks about scalp trading?
Lance: great!
Richard M.: is there anything else i can help you with today?
Lance: another thing
Richard M.: Yes
Richard M.: How can I help you?
Lance: what is the margin call set to? 50% or 100%?
Richard M.: 100% <--- *** NOTICE***
Lance: I am entering the Myfxbook competition (sponsorred by you guys) and I would just like to know if there are any things we must NOT do in the competition?
Lance: for example limited lots etc...
Richard M.: withdrawl funds
Lance: that is only after I win them... :) I mean the competition itself
Richard M.: ok to be more specific, what exact competition are you referring to <<--- uhhh, which competition???
Lance: As stated the Myfxbook competition
Lance: www.myfxbook.com - sponserred by FXDD Malta
Lance: $2000 first prize
Lance: https://www.myfxbook.com/contests
Richard M.: ok all rules are posted in the website.
Richard M.: nothing more .nothing less
Lance: ok, now if I trash my demo accountand wish to re-enter assuming there is time left, is that allowed?
Richard M.: No, only one account per person. <<--- ***NOTICE***
Lance: ok, thank you.
Lance: are you sponsorring other competitions other than Myfxbook?
Richard M.: not that i am aware of <<--- uhh, are you aware of THIS one?
Lance: ok. thanks, bye
Richard M.: have a great day!

BlueMental

"Whatever you focus your attention on, your consciousness becomes." - Lex Lungold.
Staff (Staff)
Apr 27 2010 at 10:18
1387 сообщений

Spyfrat posted:
    im kinda new to mt4. i downloaded my contest platform in my office last week. today i downloaded said platform in my home. do i have to use 2 different platform? im kinda confused to as im a noob. 10 yrs trading using with oanda makes me a virgin to EAs and all.


You just need to have the login number and the password (under the assumption you've installed a MetaTrader 4 terminal from the same broker).

pc8multifx (pc8multifx)
Apr 27 2010 at 18:05
879 сообщений
Bad news for good scalper EAs: FXDD Malta still runs an old fashioned 4 digit platform 😲

Staff (Staff)
Apr 27 2010 at 18:16
1387 сообщений

pc8multifx posted:
    Bad news for good scalper EAs: FXDD Malta still runs an old fashioned 4 digit platform 😲


As far as we're aware, you're not required to install the FXDD Malta platform - any demo FXDD account should be good to go.

pc8multifx (pc8multifx)
Apr 27 2010 at 18:32
879 сообщений
hmm, but when its not Malta than its USA, means no hedge allowed and other gimmicks... or do I miss something? Is the contest independent of the location of the broker, so we just ignore NFA slavery rules and restrictions during the contest?

pc8multifx (pc8multifx)
Apr 27 2010 at 18:44
879 сообщений

A demo account must be opened with FXDD (use the link provided after registration) and be connected to Myfxbook.

This link leads to FXDD Malta and this makes sense, bc on a platform under NFA rules there is i.e. no hedge allowed, FIFO, etc.

Who wants to trade and compete under such conditions...??

Staff (Staff)
Apr 27 2010 at 20:15
1387 сообщений
The point here is that you can choose your preferred FXDD Metatrader (Malta/USA). Although we provide a link for download, you're not required to use it. All you need is a FXDD demo account.

pc8multifx (pc8multifx)
Apr 27 2010 at 22:29
879 сообщений
The question is what happens when a demo platform from the USA branch gets downloaded. I'm sure it has to consider/reflect the NFA rules. No hedge, FIFO and Leverage limited.

 How does the demo platform know its just used for a competition w/o these restrictions?

Or do we have to trade with this restrictions? If yes, I'm out.

BTW their USA platform version comes with the the same old fashioned 4 digits... LOL

Topic is locked