People are curious and anxious at the same time when this happen. Some of them are positive about this change while the rest are worried. So analysts from around the world try to analyze the market according to their view.
Contest Regulations for BREXIT 2016!
1. The contest is held between 5 December 2016 00:00 (GMT+2) - 23 December 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 4 December 2016 23.59 (GMT+2). And then, the participant must choose a country (Germany or UK). At the end of the contest, we will see which country's stock market has the highest last 2 digits and if the country that the participant chose has a higher last 2 digits than the other country's last 2 digits then the participant's total equity will be added by 30%.
For example, at the end of the contest the data for the stock market in Instaforex MT4 trading platform are:
FTSE100 (UK's Stock Index) ends in 7290
DAX30 (Germany' stock Index) ends in 10925
in this case, FTSE100 has the highest last 2 digits (90) and DAX30 has the lowest last 2 digits (25).
So, those who qualify to enter the top 5 final result and chose UK will get additional 30% to their final equity and the ranking of the final top 5 will be adjusted to reflect this change.
3. Any member of MT5 Forum can join this contest however, only those who joined on or before 5th of August 2016 are eligible to win the prizes. Which means those who join after 5th of August can participate in the contest but they can not win any of the prizes.
4. The goal of this contest is to get as much profit as possible but you can only trade a pair that has GBP or EUR in it. For example:
you can trade:
and so on because they HAVE GBP or EUR in it.
but you can't trade:
and so on because they DON'T HAVE GBP or EUR in it.
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 expert 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 BREXIT 2016 section specifying his/her account number and a precise short description of the strategy. For example, "XXXXXX - Trade midterm all GBP 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 indicators’ link in Indicators Section of MT5 Forum. To search the thread on your indicator in Indicators section, you can use this link. 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 Participant’s 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. Here’s how the winners will be selected:
14.1 Only those with at least 10% profit will qualify as winner’s candidate. The top 5 rank will be chosen and then their balance might or might not be adjusted according to their choice of country and the final top 5 will be announced as winners.
14.2 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 $2,000 with the following distribution:
1st prize $400
2nd prize $300
3rd prize $250
4th prize $200
5th prize $150
The contestant with the highest Profit Factor at the end of the contest will get $100
The contestant with the highest Hit Rate at the end of the contest will get $100
So if a contestant win the 1st prize and he also has the highest Profit Factor then he will get $400 and another $100.
And if a contestant win the 1st prize and he also has the highest Profit Factor plus the highest Hit Rate then he will get $400 + $100 + another $100.
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.
PS: The monitoring link will be added later by Admin.