Quote from ssss:
I didn't know it was regular contest. I just started seeing it promoted recently. I guess it depends on how many accounts they can drain during Feb as to whether it will go on as a 40K prize pool. If it does go on then that tells you they have a good thing going (for them that is). Notice it is only for accounts with $500 and the average microlot balance is probably $100. So they figure if they pump up their capital base by 5x it is probably worthwhile.
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Last time with 2500$ top price ,was regulary approx 10000 participants .
For five years some 250 000 man-attempts
Best result on 500 $ was 2300%
on 2800 $ some 45000$
Some 3-4 800-900% result's
Some 10 600-700 % result's
Most of praticpants' loss
( average forex life account expectancy some 60 days)
It is very good for promoution/recognition ,but to be winner is case ,which is more related to game theory .
In leading group multiple persons have equal qualification
P.S. author tested multiple hundreds time's
(very possible more as 1000 )
with paper money ,high margin ( it possible on request by fxcm)
Best result was some 3100 % for two week ,
was 2 1500% result#s
was one day with 700%
but more as 99.5% attempts was loss 70-95%
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