Contest Regulations for The King/Queen Of Accuracy 2016!
1. The contest is held between 22.02.2016 00.00 (GMT+2) - 07.03.2016 23.59 (GMT+2).
2. To become a Participant, a member must make a post in contest thread stating "I want to Participate" as early as possible. Registration will close on 21.02.2016 23.59 (GMT+2).
3. Any member of MT5 Forum who joined on or before 1st of December 2015 can take part in the contest. Those who join the forum after 1st December 2015 can't participate in this trading contest. Those who joined after 1st December 2015 can also participate in this trading contest but they will not be eligible to receive any prize and will not affect the final ranking of this contest.
4. The goal of this contest is to get as much profit as possible but must do it accurately and with less loss.
5. The Participant must open a demo account with InstaForex Company via this Special Form. The parameters for this contest account (USD 10,000 balance and 1:50 leverage) are set automatically. In the process of registration you must use your forum username (user ID) in the account holder field to make it easier to recognize and evaluate. 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. The Participant opens his/her own contest thread in The King/Queen Of Accuracy Contest 2016 section specifying his/her account number and a precise short description of the strategy. For example, "XXXXXX - Trade midterm all currency pairs using Fibonacci", where XXXXXX is the trader's account number. The publication of the investor-password is must.
10. The Participant must explain the actions taken during the contest period such as the open or close (partially close as well or stop loss
and take profit in the thread that he/she created (see point 10) also what triggered the decision to open or close a deal. The description is to contain the number of a certain trade or order. The format is as follows:
Trade No. : 1
Order No. : 845065643
Order Type: Sell Stop
Open Price: 1.4050
Stop Loss: N/A
Take Profit: 1.3000
Volume: 3 lot
Reason For Open:
I found the pair is losing bull power and probably retrace few hundred pips found in daily chart and H4 chart. Strong resistance was there around 1.4175. So first up I placed a pending order. The red arrow pointed right side shows the open time and price.
Reason For Close:
Close Price: 1.4100
I found the price was moving high and as I decided to open some spot order better to close it.
Profit/Loss: Trade was deleted so no profit or loss.
11. The Participant should mention the indicators that will be used during the contest period. Also he must mention the indicatorsí link 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 in Indicators Section of MT5 Forum.
12. The Participant must close at least 10 trades with a total value of 10 lots during the contest period.
13. Every trade must be closed by the time the contest end. In case a position is open, the Participantís score will be the value shown in "Equity" parameter. If a Participant doesn't open any trade during the contest, he won't be considered as a valid participant.
14. Hereís how the winners will be selected:
14.1 Only those with at least 20% profit will qualify as winnerís candidate.
14.2 The winners will be based on (in order of importance) the Profit Factor and Hit Rate.
14.3 There will be one record breaker prize. This prize will be given to anyone who can beat Hera Wati's score of $2,311,319.23 at the end of the contest. If no one manages to surpass it, no one will get this prize.
15. The total prize pool is $1050 with the following distribution:
1st prize $300
2nd prize $250
3rd prize $200
4th prize $150
5th prize $50
6th Ė 10th (participation) prize $25
The record breaker's prize is $500.
The prize is unavailable for withdrawal and it can only be used as extra trading balance in your bonus account that you attached in your forum profile. All profit resulted from your trading is available for withdrawal without restrictions.
16. Anti-Fraud policy.
16.1. 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.
16.2. 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.
16.3. For the actions which contradict the rules of the contest the Participants will be disqualified.
17. The administration takes decision at its discretion in relation to the situations that are not covered by the present Regulation.
18. MT5 Forex Forum and InstaForex have 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.