HomeContests forum

Do you have what it takes to succeed in online trading? Participate in our free contests, show your trading skills for a chance to win real prizes!

Weekly Trading Contest 37 Messages in this topic - RSS

Admin
Admin
Administrator
Posts: 671


10/13/2022
Admin
Admin
Administrator
Posts: 671
Hello and welcome to the new trading contest, sponsored by Global Prime.

Please feel free to post issues, concerns, likes, or just chat with other participants.
  • Starting balance: $5,000
  • Max leverage: 100:1
  • Minimum trade duration: 1 minute
  • Maximum equity drawdown: 20% DD
  • Trading server: GlobalPrime-Demo
  • FOREX SYMBOLS ONLY - trades on other symbols (XAU/USD, US30, BTC/USD, etc), will not count toward your performance.
  • 16 cash prizes!!!
Please visit our FAQs page to find the answers to:
Thank you and good luck
+2 link
DMLforex
DMLforex
Posts: 5


10/16/2022
DMLforex
DMLforex
Posts: 5
Is there max 60 trades rule?
0 link
Admin
Admin
Administrator
Posts: 671


10/16/2022
Admin
Admin
Administrator
Posts: 671
DMLforex wrote:
Is there max 60 trades rule?


Hi there DMLforex!

Nope, this contest is unlimited trades.
Good luck Thumbs Up

- Angelus
0 link
Nadiar
Nadiar
Posts: 2


10/17/2022
Nadiar
Nadiar
Posts: 2
Sir why i am disqulifited and DD is 23% i dont lose 1000$ in 5000$ demo account
0 link
Prasetya
Prasetya
Posts: 8


10/17/2022
Prasetya
Prasetya
Posts: 8
Hi dear admin I want to complain about the contest issue! I want to complain about DD problem, DD should be calculated from the initial balance of the contest. not from the amount of equity, and before 24 hours close DD is not calculated. And as long as it's still floting and hasn't reached the maximum DD limit. and DD is calculated after 24 hours and after 24 hours the DD is calculated, unless the open position has been closed then the DD is calculated and sorry before that, surely many have experienced this 🙏🙏 Hopefully my response will be accepted by the admin everyone, and I hope the admin is always healthy, GREETINGS FROM PEKANBARU, LIVE TRADER SWING
0 link
MyLaba
MyLaba
Posts: 1


10/17/2022
MyLaba
MyLaba
Posts: 1
Aturan Udah jelas, Walau DD udah 29% Tetap Semangat Buat Kontes minggu depan.Management Sangat Penting Buat Koreksi Kesalahan.Kalau Masalah DD Liat Baik Baik History OP, Lebih akuratnya Di Pc.Salam Profit Dari MYLABA.
0 link
Admin
Admin
Administrator
Posts: 671


10/17/2022
Admin
Admin
Administrator
Posts: 671
Nadiar wrote:
Sir why i am disqulifited and DD is 23% i dont lose 1000$ in 5000$ demo account


Hi there Nadiar!

Yes, just checked your account equity history.
Unfortuantely, your equity high did hit 23.44% DD. Please check equity history image.
This DD% is above the 20%DD max rule, allowed, so you are DQ.

We recommend you to review your trading strategy and Money Management plan to avoid being DQ in future contests.
Good luck Thumbs Up

- Angelus

Attachments:

0 link
Admin
Admin
Administrator
Posts: 671


10/17/2022
Admin
Admin
Administrator
Posts: 671
Prasetya wrote:
Hi dear admin I want to complain about the contest issue! I want to complain about DD problem, DD should be calculated from the initial balance of the contest. not from the amount of equity, and before 24 hours close DD is not calculated. And as long as it's still floting and hasn't reached the maximum DD limit. and DD is calculated after 24 hours and after 24 hours the DD is calculated, unless the open position has been closed then the DD is calculated and sorry before that, surely many have experienced this 🙏🙏 Hopefully my response will be accepted by the admin everyone, and I hope the admin is always healthy, GREETINGS FROM PEKANBARU, LIVE TRADER SWING


Hi there Prasetya!

Feedback and suggestion noted!
We always try to provide contests that are fair to all, so, yes, I forwarded your comment to our contests admin.

Thanks smile

- Angelus
0 link
Admin
Admin
Administrator
Posts: 671


10/17/2022
Admin
Admin
Administrator
Posts: 671
MyLaba wrote:
The rules are already clear, even though DD is already 29% still enthusiastic about the contest next week. Management Is Very Important To Correct Errors.If The Problem DD Sees Good History OP, More AccurateLy On Pc.Greetings Profit From MYLABA.


Hi there MyLaba!


Sorry, I don't speak your language, so I used a translator to understand your post.
We are very happy to see that you understand the rules!
But, even happier to see that even if you got DQ in this contest, you are still trading!
Well done! Practise, practise, practise!

We hope to see you on our future contests! Good luck! Thumbs Up


- Angelus
0 link
tsu kurata
tsu kurata
Posts: 2


10/17/2022
tsu kurata
tsu kurata
Posts: 2
when my account max allowed dd reset? i have been waiting 24 hours and currently no open trades but still not reset (-26.24).
admin say in previous contest 36, max allowed dd will be reset if there is no open trades in trading account.
0 link
Claudie Pierlot
Claudie Pierlot
Posts: 5


10/17/2022
Claudie Pierlot
Claudie Pierlot
Posts: 5
Admin wrote:
Prasetya wrote:
Hi dear admin I want to complain about the contest issue! I want to complain about DD problem, DD should be calculated from the initial balance of the contest. not from the amount of equity, and before 24 hours close DD is not calculated. And as long as it's still floting and hasn't reached the maximum DD limit. and DD is calculated after 24 hours and after 24 hours the DD is calculated, unless the open position has been closed then the DD is calculated and sorry before that, surely many have experienced this 🙏🙏 Hopefully my response will be accepted by the admin everyone, and I hope the admin is always healthy, GREETINGS FROM PEKANBARU, LIVE TRADER SWING


Hi there Prasetya!

Feedback and suggestion noted!
We always try to provide contests that are fair to all, so, yes, I forwarded your comment to our contests admin.

Thanks smile

- Angelus


very good feedback especially for traders dont have much trading time.

another feedback from me, i see at end contest market closed all trades closed automatically. please make it everyday. not only in the end time.
and reset drawdown when all trades closed everyday at market closed
0 link
Admin
Admin
Administrator
Posts: 671


10/18/2022
Admin
Admin
Administrator
Posts: 671
tsu kurata wrote:
when my account max allowed dd reset? i have been waiting 24 hours and currently no open trades but still not reset (-26.24).
admin say in previous contest 36, max allowed dd will be reset if there is no open trades in trading account.


Hi there tsu kurata!

There is no such rule of DD reset. I checked all the posts on contest 36 where you say admin say in previous contest 36, max allowed dd will be reset if there is no open trades in trading account and there is no such post.

The DD is ALWAYS calculated from your equity high. Check this post: User Guide - DD rule
The DD is never reset. Your current max DD is 19.48% and it's calculated from the equity high (in your case the starting balance).

Thanks and good luck Thumbs Up

- Angelus

Attachments:

0 link
Admin
Admin
Administrator
Posts: 671


10/18/2022
Admin
Admin
Administrator
Posts: 671
Claudie Pierlot wrote:
Admin wrote:
Prasetya wrote:
Hi dear admin I want to complain about the contest issue! I want to complain about DD problem, DD should be calculated from the initial balance of the contest. not from the amount of equity, and before 24 hours close DD is not calculated. And as long as it's still floting and hasn't reached the maximum DD limit. and DD is calculated after 24 hours and after 24 hours the DD is calculated, unless the open position has been closed then the DD is calculated and sorry before that, surely many have experienced this 🙏🙏 Hopefully my response will be accepted by the admin everyone, and I hope the admin is always healthy, GREETINGS FROM PEKANBARU, LIVE TRADER SWING


Hi there Prasetya!

Feedback and suggestion noted!
We always try to provide contests that are fair to all, so, yes, I forwarded your comment to our contests admin.

Thanks smile

- Angelus


very good feedback especially for traders dont have much trading time.

another feedback from me, i see at end contest market closed all trades closed automatically. please make it everyday. not only in the end time.
and reset drawdown when all trades closed everyday at market closed



Hi there Claudie Pierlot!

First, thanks for participating in our forum with your suggestions and feedback.

We provide our contests as a simulator of real-life trading conditions so traders can learn to trade (and win a cash prize while doing it smile).
Now, in real-life trading if you have a losing position... will the broker close it at market close everyday? Will the broker reset your DD everyday at market close?

You know the answer to those questions smile...
Of course at the end of the contest our systems close all open positions (the contest ended) to validate the traders with the highest equity. But during contests that is impossible, sorry.

Thanks and good luck Thumbs Up

- Angelus
0 link
tsu kurata
tsu kurata
Posts: 2


10/18/2022
tsu kurata
tsu kurata
Posts: 2
Admin wrote:
tsu kurata wrote:
when my account max allowed dd reset? i have been waiting 24 hours and currently no open trades but still not reset (-26.24).
admin say in previous contest 36, max allowed dd will be reset if there is no open trades in trading account.


Hi there tsu kurata!

There is no such rule of DD reset. I checked all the posts on contest 36 where you say admin say in previous contest 36, max allowed dd will be reset if there is no open trades in trading account and there is no such post.

The DD is ALWAYS calculated from your equity high. Check this post: User Guide - DD rule
The DD is never reset. Your current max DD is 19.48% and it's calculated from the equity high (in your case the starting balance).

Thanks and good luck Thumbs Up

- Angelus


Attachments:

0 link
Claudie Pierlot
Claudie Pierlot
Posts: 5


10/18/2022
Claudie Pierlot
Claudie Pierlot
Posts: 5
Admin wrote:
Claudie Pierlot wrote:
Admin wrote:
Prasetya wrote:
Hi dear admin I want to complain about the contest issue! I want to complain about DD problem, DD should be calculated from the initial balance of the contest. not from the amount of equity, and before 24 hours close DD is not calculated. And as long as it's still floting and hasn't reached the maximum DD limit. and DD is calculated after 24 hours and after 24 hours the DD is calculated, unless the open position has been closed then the DD is calculated and sorry before that, surely many have experienced this 🙏🙏 Hopefully my response will be accepted by the admin everyone, and I hope the admin is always healthy, GREETINGS FROM PEKANBARU, LIVE TRADER SWING


Hi there Prasetya!

Feedback and suggestion noted!
We always try to provide contests that are fair to all, so, yes, I forwarded your comment to our contests admin.

Thanks smile

- Angelus


very good feedback especially for traders dont have much trading time.

another feedback from me, i see at end contest market closed all trades closed automatically. please make it everyday. not only in the end time.
and reset drawdown when all trades closed everyday at market closed



Hi there Claudie Pierlot!

First, thanks for participating in our forum with your suggestions and feedback.

We provide our contests as a simulator of real-life trading conditions so traders can learn to trade (and win a cash prize while doing it smile).
Now, in real-life trading if you have a losing position... will the broker close it at market close everyday? Will the broker reset your DD everyday at market close?

You know the answer to those questions smile...
Of course at the end of the contest our systems close all open positions (the contest ended) to validate the traders with the highest equity. But during contests that is impossible, sorry.

Thanks and good luck Thumbs Up

- Angelus


you say We provide our contests as a simulator of real-life trading conditions so traders can learn to trade

but in real-life trading conditions there is :

1. no limit equity drawdown. everyone can still trades as long as equity enough not margin call.

2. no limit 1 minute trades. everyone can open close trades within second or milisecond

3. no forex only. everyone can trades any symbol available.
0 link
Admin
Admin
Administrator
Posts: 671


10/18/2022
Admin
Admin
Administrator
Posts: 671
Claudie Pierlot wrote:
Admin wrote:
Claudie Pierlot wrote:
Admin wrote:
Prasetya wrote:
Hi dear admin I want to complain about the contest issue! I want to complain about DD problem, DD should be calculated from the initial balance of the contest. not from the amount of equity, and before 24 hours close DD is not calculated. And as long as it's still floting and hasn't reached the maximum DD limit. and DD is calculated after 24 hours and after 24 hours the DD is calculated, unless the open position has been closed then the DD is calculated and sorry before that, surely many have experienced this 🙏🙏 Hopefully my response will be accepted by the admin everyone, and I hope the admin is always healthy, GREETINGS FROM PEKANBARU, LIVE TRADER SWING


Hi there Prasetya!

Feedback and suggestion noted!
We always try to provide contests that are fair to all, so, yes, I forwarded your comment to our contests admin.

Thanks smile

- Angelus


very good feedback especially for traders dont have much trading time.

another feedback from me, i see at end contest market closed all trades closed automatically. please make it everyday. not only in the end time.
and reset drawdown when all trades closed everyday at market closed



Hi there Claudie Pierlot!

First, thanks for participating in our forum with your suggestions and feedback.

We provide our contests as a simulator of real-life trading conditions so traders can learn to trade (and win a cash prize while doing it smile).
Now, in real-life trading if you have a losing position... will the broker close it at market close everyday? Will the broker reset your DD everyday at market close?

You know the answer to those questions smile...
Of course at the end of the contest our systems close all open positions (the contest ended) to validate the traders with the highest equity. But during contests that is impossible, sorry.

Thanks and good luck Thumbs Up

- Angelus


you say We provide our contests as a simulator of real-life trading conditions so traders can learn to trade

but in real-life trading conditions there is :

1. no limit equity drawdown. everyone can still trades as long as equity enough not margin call.

2. no limit 1 minute trades. everyone can open close trades within second or milisecond

3. no forex only. everyone can trades any symbol available.


Hi Claudie Pierlot!

Hahahahaha! Yes, good point (you forgot to mention that in real-life people also use EAs, lol).
I know what you mean. But we also want traders to get "educated" in trading, not gambling.
If we do not limit DD, if we don't void trades below 1 minute, traders will not trade, just gamble the account balance.
Hope you understand that. Of course with a real account, traders can do whatever they want.

And we change the traded symbols some times to please traders, some love FX, some love Gold, some even love crypto.
Anyways, loved your argument, yes. With a real account traders can do whatever they feel like.
On our demo contests we have rules and guidelines (like any other contest).
If you want to join and get a chance to win a prize, you must trade within the set rules smile

Thanks Claudie and good luck Thumbs Up

- Angelus
0 link
Admin
Admin
Administrator
Posts: 671


10/18/2022
Admin
Admin
Administrator
Posts: 671
tsu kurata wrote:
Admin wrote:
tsu kurata wrote:
when my account max allowed dd reset? i have been waiting 24 hours and currently no open trades but still not reset (-26.24).
admin say in previous contest 36, max allowed dd will be reset if there is no open trades in trading account.


Hi there tsu kurata!

There is no such rule of DD reset. I checked all the posts on contest 36 where you say admin say in previous contest 36, max allowed dd will be reset if there is no open trades in trading account and there is no such post.

The DD is ALWAYS calculated from your equity high. Check this post: User Guide - DD rule
The DD is never reset. Your current max DD is 19.48% and it's calculated from the equity high (in your case the starting balance).

Thanks and good luck Thumbs Up

- Angelus


Hi there tsu kurata.

Sorry, you misread that post.
I was referring to the stats of a particular account (that at that time had no open trades) and the Max allowed DD field was not updating.

I used the word "reset" as in update the Max allowed DD field.
Not that the DD% would reset...
I will correct the wording from reset to update so there's no more confusion.

Thanks tsu kurata! Good catch smile

- Angelus
0 link
UserTrader
UserTrader
Posts: 40


10/18/2022
UserTrader
UserTrader
Posts: 40
it is really necessary to reconsider the accounting of drawdown. I've been talking about this for a year now.
0 link
UserTrader
UserTrader
Posts: 40


10/18/2022
UserTrader
UserTrader
Posts: 40
UserTrader wrote:
it is really necessary to reconsider the accounting of drawdown. I've been talking about this for a year now.

I propose to note the drawdown in the following contests. But limit the lot and maximum transactions to 30.
0 link
CamiloGonzalez
CamiloGonzalez
Posts: 7


10/18/2022
CamiloGonzalez
CamiloGonzalez
Posts: 7
SALUDOS DEBERIAN HACER LA REGLA DE COLOCAR STOOP LOSS EN TODO
0 link