Hello all forum members
With the start of 2015, we are back with another amazing team based contest where everyone within the winning team will receive a share of prize if he ends up positive and meets some basic requirements.
Teams are based on gold, silver or currency pairs traded and there are huge penalties for trading other pairs apart from the chosen ones. So read the rules carefully in order to avoid any deductions from your final score!
You all have one week to join the contest as the registrations will close on 6th February 2015. Hurry up
1. The contest is held between 09.02.2015 00.00 (GMT+2) - 27.02.2015 23.59 (GMT+2).
2. To become a Participant, user must make a post in contest thread stating "I want to Participate" with his preferred instrument as early as possible. Registration will close on [06.02.2015 23.59 (GMT+2)].
3. Any member of MT5 Forum who joined on or before 20th December 2014 can take part in the contest.
4. The contest participant's mission along with his team mates is to earn the biggest profit shown in "Equity" indicator by the contest end and also to make his thread as much informative as possible.
5. The Participant opens a demo account with InstaForex Company via The Special Form. The account parameters (USD 10,000 balance and 1:100 leverage) are set automatically. In the process of registration in the account holder field it is necessary to indicate the forum nickname. The Participant should keep the account password safe as it cannot be restored if lost.
6. No advisors are allowed to be employed on the contest account and option trading isn't allowed.
7. Working on the contest account should comply with the rules set by InstaForex Company for servicing real accounts.
8. Each participant will have only one chance. If he/she blows his contest account, there won't be a second attempt.
9. Each team will be formed based on the preferred instrument (any currency pair, gold or silver) of each participant. All EURUSD traders will make up one team, all GBPUSD traders will make up another team and so on.
10. The Participant opens his/her own contest thread in The Specialist Team of 2015 section specifying his/her account number, team name and providing a very precise short description of the strategy in the form of, for example, "XXXXXX - Team YYYYYY - Trade midterm all currency pairs", where XXXXXX is the trader's account number and YYYYYY is the team name like EURUSD, GBPUSD, USDJPY e.t.c. The publication of the investor-password is must.
11. The Participant is to explain the actions in relation to every deal, open or close (partially close as well), or fixing profit in the topic thread (see point 10), in particular, what triggered the decision to open or close a deal. The description is to contain the number of a certain trade or order.
12. The participant should mention the indicator/indicators he will use while trading in the contest account. With his explanation, he have to give one or multiple thread links of our forum on his indicator/indicators in Indicators Section of MT5 Forum. To search the thread on your indicator in Indicators section, you can use This thread. If the participant is to use such an indicator which doesn't have a thread on our forum, he must create a thread on his Indicator in Indicators Section of MT5 Forum.
13. The Participant must close at least 10 trades which will be taken into account with the total value of 10 lots on his contest account during the contest. If this requirement is not met by any participant of the team, his score will be counted in the team score but he won't be considered as a winner if his team wins.
14. For the moment of the contest finishing all positions of the Participant should be closed. In case a position is open, the participantís score will be the value shown in "Equity" parameter. If a participant doesn't opens any trade during the contest, he won't be considered as a valid participant.
15. Selection of winners is done by using the following steps:
15.1 At the end of the contest, equity of each participant will be adjusted according to the number of instruments traded other than the team's specified instrument. If one other instrument was traded, the participant will loose 20% of his final equity. If two other instruments were traded, the participant will loose 40% of his final equity. If three other instruments were traded, the participant will loose 60% of his final equity. If 4 or more other instruments were traded, his contribution in the team will be 0.
15.2 All individual scores of each team will then be added to make up the total team equity.
15.3 Final Score of each team will be calculated using the formula:
Final Score = Total Equity / Number of valid participants
15.4 There will be one record breaker prize. This prize will be given to anyone who can beat Hera Wati's score of $2311319.23 at the end of the contest. If no one manages to surpass it, no one will get this prize.
16. The total prize pool is $2750. The Prize Distribution will be as follows:
Team with highest Final Score = $1500 (Distributed equally among all participants after applying penalties*)
Runner up Team = $750 (Distributed equally among all participants after applying penalties*)
Record Breaker Prize = 500$
* Only positive participants from the winning teams will get a share of the prize. Penalties applied would decrease the prize of the winner by 20% if he traded one other instrument, 40% if he traded two other instruments, 60% if he traded 3 other instruments and no prize if he traded 4 or more other instruments apart from the team pair.
The prize amount is unavailable for withdrawal and accrued to the member's real trading account with InstaForex attached to his forum profile. All the profit earned during trading operations is allowed for withdrawal with no restrictions.
17. Anti-Fraud policy.
17.1. The administrators of the contest warn that non-trading methods of competition leading to the guaranteed prize are prohibited, in particular, the confederacy of the Participants with a target of registering numerous accounts and opening differently directed deals on the same instrument. For such actions the Participants will be disqualified.
17.2. InstaForex Company has a right to ask the administrators of the contest to consider the issue of the Participant's disqualification in case of revealing scam electronic advisors, using the faults of the Company's software support with an aim to get the guaranteed profit by the Participant.
17.3. For the actions which contradict the rules of the contest the Participants will be disqualified.
18. The administration takes decision at its discretion in relation to the situations that are not covered by the present Regulation.
19. MT5 Forex Forum and InstaForex has the right to publish the complete trading strategy and full trading statement of the winners in any way most fitting to MT5 Forex Forum and InstaForex.