Today contests of Forex traders are a customary, even to a certain extent ordinary occurrence. As a rule, most of them held in a standard way: winners are defined by the highest increase of deposit for a certain time span.
What Forex Contests Help to Become a Successful Trader?
Unfortunately, the main goal of such events (not all, but mostof them) is to attract potential clients to the company by showing with the help of a contest the opportunities, which await for them. However, the problem is that terms of participation in a contest often do not correspond to real trading terms, offered by brokers. What is more, even winners experience certain discomfort when switching from contest to “live” trade at Forex.
At the same time brokers that are truly interested in success of their clients, acting by the principle “a trader’s income is a company’s profit”, create conditions in competitions, which are maximally close to “real” market trade. And in many cases such tournaments are held in the mode of real work at Forex. Therefore, contestants, besides the prize means, leave the gained income to themselves.
Owing to tournament organized in such a way traders get priceless experience of effective work at Forex, gain skills and knowledge of composing flexible trading strategies, adapted to any market trends, learn to build wise systems of risk and money management, as well as use instruments of technical and fundamental analysis most rationally, etc.
A unique contest “Triathlon” from one of the world’s leading Forex brokers, FIBO Group company, follows these principles. Unlike its analogues, this tournament is generally unique for the entire industry. It allows to “build a career” from a beginner at Forex, who is taking a shot at demo accounts, to a professional, who manages over PAMM accounts with large capital of investment means.
New “Triathlon” Starts
“Our company has recently drawn conclusions of the tournament for last year and named three winners, who have received management over PAMM accounts with large prize capital,” says the head of Ukrainian branch of FIBO Group Sergei Poplavsky in his interview to the “Market Leader”, “they are the following:
1st place – arash amiri with a result of maximal profitability per week amounting to 189.31%. He has received a PAMM account with a 25,000-dollar capital.
2nd place – mikalaha. His maximal profitability per week has amounted to 188.59%. He has received a PAMM account with a 15,000-dollar capital.
3rd place – samanehA, whose maximal profitability per week has amounted to 133.77%. Prize – a PAMM account with a 10,000-dollar capital.”
“From myself personally and on behalf of the company let me congratulate winners of the contest and everyone who took part in it. We are certain that this has been an exclusively useful contest, which has brought not only knowledge and experience, but also allowed to earn real money means,” comments the specialist.
The completed contest has already been replaced with a new one – “Triathlon 2015”, the first stage of which started on January 19. Like in the previous tournament, anyone can take part in it, from a beginner to a professional, new clients of the company and those who took part in “Triathlon” contest in 2014; consequently, there are no limitations. In exactly the same way, without investment of one’s own means, but with an opportunity to earn and withdraw the gained income for personal use.
And as long as participants do not risk their personal means, they have an opportunity to familiarize with specifics of work at Forex in calm and convenient conditions, starting with work at the first stage, where they are provided with a demo-account with 5,000 virtual dollars. Ten traders, who show best results by profitability at this stage of the tournament, proceed to the next stage on condition that their maximal drawdown does not exceed 30%. Those who fail to go further, can take part again by returning to initial starting positions of the first stage.
“On the second stage,” explains Sergei Poplavsky, “participants already get real NDD accounts with a 100-dollar deposit and a credit leverage 1:100. Here certainly appear market risks, for trade is effected with “live” money. But, again, as long as company’s means are transferred to the accounts, none of contestants risks their own money. Instead, there is an opportunity to use innovative services, progressive technologies, unique trading terms of FIBO Group, which allow to reduce risks and increase the volumes of expected profits. (For more details about this read the article “FIBO Group Explains How Forex Technology STP is Better than ECN”.)
For one week participants of the second stage of the contest are to effect deals to the total volume of not less than 0.5 lot. Let me admit that all contest NDD accounts are transferred into an ordinary NDD group with a further opportunity of replenishment or withdrawal of means.
A participant that gains best results per week and does not “go” in a drawdown by over 30% becomes the winner of the second stage. His prize is management over a PAMM account with 1,000 dollars transferred to it.” Offer of the PAMM account presupposes the following terms:
- Minimal sum of investment: 50 USD;
- Manager’s reward: 30%;
- Fine for early withdrawal: 0%;
- Investment period: 1 week.
“And, finally, there is the third stage, which has undergone some changes, which, in our opinion, will make it more interesting and allow to show the talent of managing over investors’ means,” admits the “Market Leader” interviewee, “Particularly, the company has introduced adding points for achievement of certain results on contest PAMM accounts according to the results of every week.
Points are added only if weekly profitability of contest Managed account exceeds its general positive profitability by over 5%. Points increase twice if weekly profitability exceeds 5% per week. If weekly profitability is less than 5% and less than general positive profitability of contest Managed account, prize points for this contest week are not added. If weekly profitability of contest Managed account exceeds 5%, its owner gets one point.
Contest points are written off at negative value of general profitability of contest Managed account, one point for every week of the contest. At zero number of prize points, write-off does not happen.” Example of adding points:
Every prize point is converted into one ticket, which takes part in a lottery draw, which will define winners of the third stage on December 29, 2015; they will get management over PAMM accounts with capital amounting to 25,000, 15,000, and 10,000 dollars for 1st, 2nd, and 3rd places accordingly. At the same time all participants, including those who fail to become winners, save the previously received Managed PAMM accounts with an opportunity to withdraw profit.
For more details about terms and rules of participating in “Triathlon” contest, as well as rating of contestants after the first weeks of the first stage, see the corresponding section of FIBO Group official web site. “From myself personally and on behalf of all staff members of our company, I would like to wish all participants good luck, profitable trade, and favourable trend. And we, in our turn, will provide your trade with best technologies, high-quality services, effective decisions, which will allow to achieve the desired at Forex. And this means that by working with us you will get stable and large profits,” concluded Sergei Poplavsky.
Observing and logical mind can predict any human strategy.There is, however, a way to remain unpredicted: it is enough to make decisions on the basis of randomness. For example, choosing direction for next attack by rolling the dice.
Certain chaos in a global strategy not only brings the effect of surprise, but also gives an opportunity to keep secret the logics, to which important decisions are subject. Nobody can predict how the dice will fall. (B. Werber)
