Have you joined in any forex contests? - page 2

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Forex contests are good, but the usual problem is that too much emphasis is given to how much money the winners make, rather than how many pips the winners make. Relative drawdowns and numbers of trades. Trying to make as much money as possible is clearly suicidal.

 
The forex traders contest is a great opportunity for rookie traders to test trading using demo accounts without any risk of losing their own money, and a chance for professional ones to test and improve their trading strategies. By trading using virtual funds, traders can win real money – demo accounts contest is an excellent opportunity to win prize money that the winner can use anyway they want!

For a real fun joined trade1on1 just as peter said.
 
alanfx:
Same here mate. Don't like to waste my valuable time on the contests. Imo Contests will change trading mentality to gambling mentality.

What do you mean by changing it to gambling mentality? Didn't you even tried on joining just for fun to help you relax

 

not yet. but i want to try it. sounds good.

 

What is it about contests? How can a trader compete with something as impersonal as market?

 

trade1on1 is the best. You can compete against your friends or other trader in the world at any time in 1on1 or tournament games at a specific amount.

It's amazing and really good one.[/QUO

Not a bad this trading game. I joined this recently and i really enjoy the tournament the most. It is really fun to trade against many traders in this contest. very innovative. I think by this trading game- we can sharpen our knowledge more towards the trading and by this way if we won the prize we can have good money to start the trading and gold rush is good option to start the trading

 

I think they are terrible especially for new traders who are serious about trading.

 

Yes, i had the opportunity to join the forum and broker contests many times and there have been times where i have won the contests and also got the prize money sometimes cash and most of the times bonus money for trading. Its really nice to get such rewards.

 

I have joined once. It was on demo accounts, and actually I was a total newbie. Of course I blew up all the money. But this time taught me a lot. So I was excited about next learning Forex.

 
techmac:
What is it about contests? How can a trader compete with something as impersonal as market?

If you look around different forums, you will notice that there are many contest going on. The traders take part in these contest according to rules of contest and the winner gets a cash prize.

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