There exists a great number of different contests for traders at Forex market. But by no means are all of them equally effective. Moreover, some of them, held by “kitchens”, promise great money prizes, chic SUVs, and keys from apartments, but in fact draw participants into real market, where the former happily empty the deposits of the latter.
How to Make Money by Participating in Forex Contest?
At the same time, many contest are honest and open. However, by virtue of small budget of the organizing company, winners can count only on modest rewards. And only few trader competitions are held at top level – with full-scale support of brokers, opportunity to tap the market and even in practice and without risk, as well as make money during the tournament. Аnd winners get real large-scale money prizes or expensive presents.
However, the trader tournament without any special rules and terms from a famous British broker “Larson and Holz” can, supposingly, be called the most non-standard Forex contest. Competitions are a viewing point for investors, who can sign agreements with the trader they like already during the tournament and start investing in his trade.
Monthly non-stop contest from “Larson and Holz IT Ltd” allows:
1. Grasping market specifics in practice without high risk.
2. Withdrawing and even outputting profits, gained during the contest.
3. Participating in the contest on several accounts at once.
4. Having an opportunity to attract additional means of investors into their trade.
5. Getting prize money from the company for final leading positions.
6. Anyone to participate in the contest for unlimited number of times, without special requirements, simply by trading in one’s ordinary regime.
7. Having access to all exclusive innovative technologies of “Larson and Holz”, including a modernized NDD system, which transfers your orders to largest providers of liquidity, with which a trader can effect deal at most profitable current prices.
According to Aleksandr Afanasievich Smirnov, the Head of Inspection and Audit Special Department of Larson&Holz IT Power Trade group, a unique system of reporting is available to contestants, most lasting situations of “zero spreads” often arise in their trade, and you can work without expanding spreads even when there appear important economic news or market volatility is high. For more details about these technologies and many other not less attractive services of “Larson and Holz” read the “Market Leader” article “Larson and Holz: NND – New Level of Trading Quality”.
“Another distinctive feature of our contest,” admits a representative of the Forex broker, “is its social orientation; in fact, the tournament forms a vast area for communication of traders and investors, being a kind of Facebook, only adapted to interests of the target audience. Here traders can freely communicate with one another, investigate the secrets of most effective trading strategies, suggest their own vision of profitable trading, leave opinions, comments, advice, and recommendations on numerous directions of trade and investment at Forex market.
Our contest also provides a number of unique opportunities for beginners. One of most popular services, according to our clients, is copying the deals of best, in their opinion, traders, which allows making money without direct trade, but at the same time having an on-line study of how and on the basis of what effective trading strategies are formed.
Eventually, by communicating in the chat room within the format of the contest, you can independently form a portfolio of trading strategies, which will bring you profit; this is particularly interesting for investors, who prefer investing on the basis of wise diversification of means.
Speaking about concrete terms, there is no need of special registration in the tournament, as after replenishment of your account it is automatically included in the rating of the tournament. All real accounts from 100 dollars, including even the ones open by the program ‘Deposit-Free Forex’, take part in the contest on condition that they have been replenished by real money. There are also no limitations on use of trading strategies during the contest.
The prize fund amounts to 14,000 dollars, which are divided between 140 prize-winning places and which, by the way, can be output by traders. And the criterion for defining winners is maximal profitability for a month, shown by contestants.”
Initiative – Rewarded
Polezhaev Anatoly Aleksandrovich (Kamchatka, Russia) became one of last winners of the monthly non-stop trader contest held by «Larson and Holz». He has kindly agreed to meet a “Market Leader” reporter and answer several questions.
Market Leader: Hello, Anatoly Aleksandrovich. Our congratulations on victory in «Larson and Holz» contest! Tell us, please, how hard it was?
Anatoly Polezhaev: Hello. Thank you for congratulations. I wouldn't say that for reaching the final 1st place I had to make some supernatural effort. I simply traded in an ordinary way, like I am used to. It has appeared that «habits» have given certain results.
Market Leader: According to the terms of the contest, several trading accounts could take part in it. How many accounts did you open?
Anatoly Polezhaev: One.
Market Leader: Аnd what type of account did you use?
Anatoly Polezhaev: Start.
Market Leader: What, in your opinion, are the benefits of the contest from «Larson and Holz»?
Anatoly Polezhaev: Simple registration and big prize fund.
Market Leader: Did you happen to take part in other Forex contest?
Anatoly Polezhaev: No, the contest from «Larson and Holz» became my first experience of such type of activity at Forex.
Market Leader: Аnd why have you decided to take part in this contest?
Anatoly Polezhaev: I have decided to show initiative. And as it appeared, initiative is not always punished, but on the contrary, rewarded (Smiling).
Market Leader: What benefits of trading at Forex with «Larson and Holz» could you specify? What services, technologies, and products do you use most frequently?
Anatoly Polezhaev: Low commission fee, handy input and output of means, and excellent work of the terminal.
Market Leader: Please, tell us about yourself in a few words.
Anatoly Polezhaev: I am 55. I work as a chief engineering officer on fishing vessels.
Market Leader: How have you come to Forex market?
Anatoly Polezhaev: I saw an advertisement in the Internet, and decided to try. I have also studied in a consultation center “TCS-Kamchatka”.
Market Leader: Why have you decided to cooperate specifically with «Larson and Holz»?
Anatoly Polezhaev: In my opinion, this is a rather serious organization with good reputation and long list of services at currency market.
Market Leader: Please, tell us what trading strategies did you use in the framework of the contest: conservative, moderate, or aggressive? And which ones do you use in real trade?
Anatoly Polezhaev: I prefer staying in long-term trends in the framework of moderate risks.
Market Leader: Аnd what currency pairs did you use for effecting deals, and why?
Anatoly Polezhaev: Currency pair GBP/USD. It is rather volatile and not bad; it is also open to technical analysis.
Market Leader: Have you traded «manually» or used automated trading, for example, advisors or robots?
Anatoly Polezhaev: I always prefer working at Forex manually, trusting myself, but not machines, «pointed» only to certain algorithms.
Market Leader: What would you advise to beginners at Forex market and to those, who are going to take part in the contest of «Larson and Holz»?
Anatoly Polezhaev: To beginners – strictly follow conditions of risk-management. And to those, going to take part in the contest of «Larson and Holz» – successful trading deals!
Your wellbeing depends on your own decisions! (John Rockefeller)
