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Forums > Special Topics > Trading Contests > FXPro Demo Trading Contest

FxPro Demo Trading Contest

Prize: $5,000 Total -
10 Winners
Messages (179 Replies)
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01 Aug 2017 5:11 AM
    This topic has been created automatically to discuss this contest.


    16 Aug 2017 8:36 AM
    fxpro is a trusted broker thanks a lot ...I have a question about number 5(A minimum of 10 trades to be opened during the contest. Concurrent trades will only be counted as 1 trade. These trades must be roughly comparable in size and in the % they contribute to profit gained.)what do you mean these trades must be comparable in size and in the ....................................?
    could you plz provide us with examples
    THANKS IN ADVANCE


    16 Aug 2017 9:05 AM
    And how would you calculate the profit gained where is the calculation should appear ?


    16 Aug 2017 9:10 AM
    More and more we find users placing 1 big lucky trade and getting a prize.
    However it is not really luck either as this is being achieved by them either trading multiple profiles and/or hedging accounts against each other.
    Users are working both alone and with others.
    It is getting more and more time consuming to moderate the winners, so this is a first step to try and reward "actual" trading and make it harder for those not really participating within the spirit of the contest.

    E.g 7th place in last contest would not win a prize in this contest or indeed if they place 10 trades of 4.8 lots each at the same time that would still be considered only 1 trade and that would not be sufficient to win a prize this time round either.

    They would need to have placed a minimum of 10 trades at different times during the contest and the $9.264 profit they made would have to have been roughly spread between these 10 or more trades.

    Cash prize winners in 8th and 10th place in last contest would not win this time either.

    Denis


    Office Hours 9 - 5 GMT (Ireland) Mon - Fri
    16 Aug 2017 9:25 AM
    Posted By adelishable 2015 on 16 Aug 2017 9:05 AM
    And how would you calculate the profit gained where is the calculation should appear ?
    There is no new calculation required as information is already available - Equity Return/Current Equity/Balance/Net Profit per trade.

    Each account in prize position will be looked at individually at the end of the contest.

    Ensure bulk of profit is spread equally over at least 10 (or more) comparable trades and the rule is satisfied.

    Denis


    Office Hours 9 - 5 GMT (Ireland) Mon - Fri
    16 Aug 2017 10:45 AM
    Posted By Denis - webmaster on 16 Aug 2017 9:10 AM
    More and more we find users placing 1 big lucky trade and getting a prize.
    However it is not really luck either as this is being achieved by them either trading multiple profiles and/or hedging accounts against each other.
    Users are working both alone and with others.
    It is getting more and more time consuming to moderate the winners, so this is a first step to try and reward "actual" trading and make it harder for those not really participating within the spirit of the contest.

    E.g 7th place in last contest would not win a prize in this contest or indeed if they place 10 trades of 4.8 lots each at the same time that would still be considered only 1 trade and that would not be sufficient to win a prize this time round either.

    They would need to have placed a minimum of 10 trades at different times during the contest and the $9.264 profit they made would have to have been roughly spread between these 10 or more trades.

    Cash prize winners in 8th and 10th place in last contest would not win this time either.
    okay iam trying to understand but some are not clear ....please study and explain why number one and nine  in the latest contest qualify for this contest ....total trade of the winner number one is 7 ?is it what we should care about ?https://www.cashbackforex.com/en-us/account.aspx?sid=70377   
    please explain an example that qualify according to the new rule >>>

    Denis



    16 Aug 2017 11:39 AM
    Posted By adelishable 2015 on 16 Aug 2017 10:45 AM
    Posted By Denis - webmaster on 16 Aug 2017 9:10 AM
    More and more we find users placing 1 big lucky trade and getting a prize.
    However it is not really luck either as this is being achieved by them either trading multiple profiles and/or hedging accounts against each other.
    Users are working both alone and with others.
    It is getting more and more time consuming to moderate the winners, so this is a first step to try and reward "actual" trading and make it harder for those not really participating within the spirit of the contest.

    E.g 7th place in last contest would not win a prize in this contest or indeed if they place 10 trades of 4.8 lots each at the same time that would still be considered only 1 trade and that would not be sufficient to win a prize this time round either.

    They would need to have placed a minimum of 10 trades at different times during the contest and the $9.264 profit they made would have to have been roughly spread between these 10 or more trades.

    Cash prize winners in 8th and 10th place in last contest would not win this time either.
    okay iam trying to understand but some are not clear ....please study and explain why number one and nine  in the latest contest qualify for this contest ....total trade of the winner number one is 7 ?is it what we should care about ?https://www.cashbackforex.com/en-us/account.aspx?sid=70377   
    please explain an example that qualify according to the new rule >>>

    Denis



    Posted By Denis - webmaster on 16 Aug 2017 9:25 AM
    Posted By adelishable 2015 on 16 Aug 2017 9:05 AM
    And how would you calculate the profit gained where is the calculation should appear ?
    There is no new calculation required as information is already available - Equity Return/Current Equity/Balance/Net Profit per trade.

    Each account in prize position will be looked at individually at the end of the contest.

    Ensure bulk of profit is spread equally over at least 10 (or more) comparable trades and the rule is satisfied.

    Denis
    I was just giving you some examples of what will not suffice in this contest. Obviously accounts with < 10 trades would not satisfy the rule here.

    Ensure bulk of profit is spread equally or in similar proportions over at least 10 (or more) non-concurrent, comparable trades and the rule is satisfied.


    Office Hours 9 - 5 GMT (Ireland) Mon - Fri
    17 Aug 2017 3:15 AM
    Okay but it is unfair to check at the end of the contest ,imagine that a winner gains the highest equity and according to that golden rule he/she wouldnt win after 1 month of trading .
    DRAWDOWN RULE IS CALCULATED AUTOMATICALLY AND THAT IS FAIR ........



    17 Aug 2017 4:11 AM
    Good luck to all participants! :)


    17 Aug 2017 4:26 AM
    Posted By adelishable 2015 on 17 Aug 2017 3:15 AM
    Okay but it is unfair to check at the end of the contest ,imagine that a winner gains the highest equity and according to that golden rule he/she wouldnt win after 1 month of trading .
    DRAWDOWN RULE IS CALCULATED AUTOMATICALLY AND THAT IS FAIR ........

    IT IS IN THE RULES!

    Every contestant will be aware of it before they decide to register for the contest.


    Office Hours 9 - 5 GMT (Ireland) Mon - Fri
    17 Aug 2017 7:31 AM
    Posted By Denis - webmaster on 17 Aug 2017 4:26 AM
    Posted By adelishable 2015 on 17 Aug 2017 3:15 AM
    Okay but it is unfair to check at the end of the contest ,imagine that a winner gains the highest equity and according to that golden rule he/she wouldnt win after 1 month of trading .
    DRAWDOWN RULE IS CALCULATED AUTOMATICALLY AND THAT IS FAIR ........

    IT IS IN THE RULES!

    Every contestant will be aware of it before they decide to register for the contest.

    I UNDERSTAND what you mean ,just an example from the previous contest that meet the new condition with detailed explanations .....plz ....thanks for your valuable efforts in advance ,Denis.


    17 Aug 2017 8:23 AM
    Posted By adelishable 2015 on 17 Aug 2017 7:31 AM
    Posted By Denis - webmaster on 17 Aug 2017 4:26 AM
    Posted By adelishable 2015 on 17 Aug 2017 3:15 AM
    Okay but it is unfair to check at the end of the contest ,imagine that a winner gains the highest equity and according to that golden rule he/she wouldnt win after 1 month of trading .
    DRAWDOWN RULE IS CALCULATED AUTOMATICALLY AND THAT IS FAIR ........

    IT IS IN THE RULES!

    Every contestant will be aware of it before they decide to register for the contest.

    I UNDERSTAND what you mean ,just an example from the previous contest that meet the new condition with detailed explanations .....plz ....thanks for your valuable efforts in advance ,Denis.

    I'm sorry, but what part of this rule do you not understand exactly?

    "A minimum of 10 trades to be opened during the contest. Concurrent trades will only be counted as 1 trade. These trades must be roughly comparable in size and in the % they contribute to profit gained."

    * You must open a minimum of 10 trades
    * Opening 10 trades at the same time (eg 10 x 1 lot) will be considered as 1 trade (this is directly to thwart the guy who previously put on 1 x 10 lot trade and won, and now puts on 10 x 1 lot instead)
    * The trades must be roughly comparable in size 1/3 lots difference (i.e. 1 x 10 lot trade and 9 x .10 lot trades does not satisfy the rule)
    * The 10 trades must roughly contribute the same 10% or thereabouts to overall profit (1 single trade contributing 50% and the rest 50% would not satisfy the rule)

    Again it is being rolled out in this contest as an attempt to stop the contestants who place only 1 large trade and end up winners in the contest - as mentioned previously these contestants are flaunting with the rules and are not competing in the true spirit of the contest.

    I know from your very 1st post you have issues with the rules in our FREE CASH PRIZE contests and we know that maybe they are not for everyone.
    It is an individual's own choice to accept the rules and compete or not.

    We attempt to make our contests as real as possible and want to reward trading skill, not luck or any type of unfairness.
    Cheating in the contests is still going on and we do as much as we can to ensure no cheaters win. This is another step towards that end.

    Denis


    Office Hours 9 - 5 GMT (Ireland) Mon - Fri
    17 Aug 2017 10:18 AM
    Posted By Denis - webmaster on 17 Aug 2017 8:23 AM
    Posted By adelishable 2015 on 17 Aug 2017 7:31 AM
    Posted By Denis - webmaster on 17 Aug 2017 4:26 AM
    Posted By adelishable 2015 on 17 Aug 2017 3:15 AM
    Okay but it is unfair to check at the end of the contest ,imagine that a winner gains the highest equity and according to that golden rule he/she wouldnt win after 1 month of trading .
    DRAWDOWN RULE IS CALCULATED AUTOMATICALLY AND THAT IS FAIR ........

    IT IS IN THE RULES!

    Every contestant will be aware of it before they decide to register for the contest.

    I UNDERSTAND what you mean ,just an example from the previous contest that meet the new condition with detailed explanations .....plz ....thanks for your valuable efforts in advance ,Denis.

    I'm sorry, but what part of this rule do you not understand exactly?

    "A minimum of 10 trades to be opened during the contest. Concurrent trades will only be counted as 1 trade. These trades must be roughly comparable in size and in the % they contribute to profit gained."

    * You must open a minimum of 10 trades
    * Opening 10 trades at the same time (eg 10 x 1 lot) will be considered as 1 trade (this is directly to thwart the guy who previously put on 1 x 10 lot trade and won, and now puts on 10 x 1 lot instead)
    * The trades must be roughly comparable in size 1/3 lots difference (i.e. 1 x 10 lot trade and 9 x .10 lot trades does not satisfy the rule)
    * The 10 trades must roughly contribute the same 10% or thereabouts to overall profit (1 single trade contributing 50% and the rest 50% would not satisfy the rule)

    Again it is being rolled out in this contest as an attempt to stop the contestants who place only 1 large trade and end up winners in the contest - as mentioned previously these contestants are flaunting with the rules and are not competing in the true spirit of the contest.

    I know from your very 1st post you have issues with the rules in our FREE CASH PRIZE contests and we know that maybe they are not for everyone.
    It is an individual's own choice to accept the rules and compete or not.

    We attempt to make our contests as real as possible and want to reward trading skill, not luck or any type of unfairness.
    Cheating in the contests is still going on and we do as much as we can to ensure no cheaters win. This is another step towards that end.

    Denis

    Thanks i totally understand what you mean ....no place for lucky traders ....that s fair .thanks for your explanation .........you r right about me ....okay ....


    17 Aug 2017 11:52 AM
    Hello Dennis, I would like to thank you to the team for making the contest as fair as possible.

    In this contest, I wonder what makes the drawdown tolerace raised to 50%. What is the reason behind it? Is is something related to the sponsor?


    Edited:17 Aug 2017 11:56 AM
    17 Aug 2017 12:02 PM
    Posted By Pipmunks on 17 Aug 2017 11:52 AM
    Hello Dennis, I would like to thank you to the team for making the contest as fair as possible.

    In this contest, I wonder what makes the drawdown tolerace raised to 50%. What is the reason behind it? Is is something related to the sponsor?
    Sponsor!

    They don't have the same "love" for drawdown that I do!!!

    Denis


    Office Hours 9 - 5 GMT (Ireland) Mon - Fri
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