Quote from OddTrader:
I don't have to join the site to often play a very similar game myself.
recently, metoo! wonder how long it will take the first participant to lose the 5k?
Lose to Win Contest--- unique idea..
- Thread starter marketsurfer
- Start date
recently, metoo! wonder how long it will take the first participant to lose the 5k?
Quote from SethArb:
I wonder if the broker will encourage the "loser" to trade with some of their real money in the future so that the firm
can fade all his trades
yes, its required-the winner gets his/her account funded at the firm.
one of the criteria is that the winners must submit to having all their trades listed on the website.
i wonder if the winners are able to withdraw the winnings from their account?
surf
skepticaltrader
Guest
I wonder if the people running this Forex club will take the other side of our losing trades?
nothing will surprise me. the rules are stringent and seem like it will be a level playing field but who knows?
http://www.fxclub.com/contest/rules.html
Yes, I was about to say the same thing. The obvious strategy is to find the pair with the highest bid-ask spread in real terms, and then apply the maximum available leverage.
The contest says a maximum of 4 orders per day (2 complete trades), so this is not a trivially easy way to blow an account, but it depends on what kind of leverage is available and the time scale of the contest. (Edit: OK I just read it, it's 20:1)
If that proves useless in practice, the only other approach that would make a lot of sense (only 4 orders a day, that's tough) might be to average down whatever loser you get aggressively. This gives you a small but significant chance of completely blowing out in a short time frame.
OK here's something I don't understand:
they say maximum allowed leverage is 20:1, initial balance is $5000 and *only* 100,000 lot sizes are available. Doesn't that mean that as soon as you lose some money, you cannot buy 1 lot, and cannot trade?!
(http://www.fxclub.com/contest/rules.html)
The contest says a maximum of 4 orders per day (2 complete trades), so this is not a trivially easy way to blow an account, but it depends on what kind of leverage is available and the time scale of the contest. (Edit: OK I just read it, it's 20:1)
If that proves useless in practice, the only other approach that would make a lot of sense (only 4 orders a day, that's tough) might be to average down whatever loser you get aggressively. This gives you a small but significant chance of completely blowing out in a short time frame.
OK here's something I don't understand:
they say maximum allowed leverage is 20:1, initial balance is $5000 and *only* 100,000 lot sizes are available. Doesn't that mean that as soon as you lose some money, you cannot buy 1 lot, and cannot trade?!
(http://www.fxclub.com/contest/rules.html)
max size is one 100k unit per currency pair. therefore, the max spread idea is mute imho. good idea, otherwise!
ah hell im bored and have some free time. i always wanted to try trading forex. sounds like fun. count me in surf....if i can figure out how to get my chartd to display forex pairs then i'll see you on the frontlines
looks like were competing against all of the russian continent from the looks of the contestant list.
looks like were competing against all of the russian continent from the looks of the contestant list.