Hello fellow MT5 Forum members. Hope you all are enjoying yourself.
For the first time in the history of MT5 Forum, we are arranging a real account trading contest to test the skills of our traders along with their emotions. The main idea is to see how our members deal with their emotions in a real money trading contest and who is the best among them in handing a real account for 4 consecutive weeks.
Everyone will use his real account and the starting amount to participate is 50$. There is ample amount of time left for the contest start so you all can even arrange 50$ through posting bonus of August to take part.
Read the rules carefully and act accordingly. The prizes are highest this time so grab them while you can
1. The contest is held between 22.09.2014 00.00 (GMT+3) - 17.10.2014 23.59 (GMT+3).
2. To become a Participant, user must start his thread in contest section before the deadline. Registration will close on [19.09.2014 23.59 (GMT+3)].
3. Any member of MT5 Forum who joined on or before 14th July 2014 and was active in last 1 month before contest announcement can take part in the contest. (Being active is judged by moderators)
4. The contest participant's mission 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 uses any of his real IFX Account (Non bonus or bonus account). The account parameters (Initial Balance and Leverage) will vary for each participant depending upon his choice. Each participant can choose any leverage he feels comfortable with and can deposit his account either with posting bonus or his own money. The minimum initial balance to take part is $50.
6. A user can make as many deposits and withdrawals as he want. There is no restriction of depositing or withdrawing during or after the contest. Bonus of September which will be credited in October will also be considered as a deposit. In case a participant doesn't wants September bonus to effect his final score, he can change his account after contest starts if it's been two months since he attached his account.
7. No advisors are allowed to be employed on the contest account.
8. Working on the contest account should comply with the rules set by InstaForex Company for servicing real accounts.
9. Each participant will have only one account. Once the contest starts, he won't be allowed to change his account.
10. The Participant opens his/her own contest thread in MT5 Real Warriors section specifying his/her account number and providing a very precise short description of the strategy in the form of, for example, "XXXXXX -Trade midterm EURUSD", where XXXXXX is the trader's account number. Each participant will then send his investor password to four senior moderators (Toxic, Phantomtrader79, Passionate Pisces and moneygrows). Sending investor-password to senior moderators is must. All participants should clearly mention their trading account servers and initial balance in their threads before 19th September 2014 23.59 (GMT+3). There should be no open trades at the deadline of registration.
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 1 lot on his contest account during the contest. If this requirement is not met by any participant, he won't be considered as a winner.
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.
15. Selection of winners is done by using the following steps:
15.1 At the end of the contest, Percentage of final pure profit for each participant will be calculated using the following calculations:
A) Percentage of Initial Balance = [Initial Balance / (Initial Balance + Sum of all deposits)] x 100
B) Adjusted Profit = [(Final Equity + Sum of all withdrawals)] x [Percentage of Initial balance]
C) Percentage of Final Pure Profit = [Adjusted Profit / Initial Balance] x 100
15.2 Top 15 Final Pure Profit Percentage participants with positive results, final equity higher than initial balance and who met all the requirements will be shortlisted.
15.3 Seven best traders will be selected out of the top 15 based on their trading performance, discipline, thread quality and the way they followed their strategy after jury voting.
16. The total prize pool is $2600. The Prize Distribution will be as follows:
1st Prize = $1000
2nd Prize = $700
3rd Prize = $500
4th Prize = $100
5th Prize = $100
6th Prize = $100
7th Prize = $100
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. All Seven winners will receive user titles "Profitable Trader" at the end of the contest.
18. Anti-Fraud policy.
18.1. 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.
18.2. 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.
18.3. For the actions which contradict the rules of the contest the Participants will be disqualified.
19. The administration takes decision at its discretion in relation to the situations that are not covered by the present Regulation.
20. 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.
Contest Stats After One Week
Contest Stats after Two weeks