Today Forex market presents a lot of various contest for traders. As a rule, the main goal of most of them is to attract potential clients to the company by providing “convenient” trading terms together with attractive prize money means.
What Forex Contests can Help Traders to Make Money?
At the same time brokers that are truly interested in financial success of their clients look at contests from different point of view. First of all, from a perspective of clear depiction of Forex specifics when a person has an opportunity to “touch” the market and find out its pluses and minuses on his/her own, judging from presence of certain knowledge and skills.
Trader tournament organized in such a way help participants of Forex market to grasp work with currency pairs quicker and more effectively, learn to work out trading strategies that are optimal under different trends, rationally use instruments of technical and fundamental analysis, minimize risks by means of competent system of diversification by different assets, etc.
In a word, contest of Forex traders is not only prize money for victories, which are not always received as a result of a rat race without looking back, but, what is more importantly, an opportunity to get priceless work experience at the market, deepen the theory of profitable trade, and improve one’s effective trade.
RVD Championship: Best Terms – Best Opportunities
Such has been the approach followed by best ECN broker of 2014 RVD Markets, which has started a unique trader contest RVD Championship. Despite the fact that slightly more than a month is left till the end of the competition, anyone can still take part in it by registering at the company’s web site. At the same time, the number of trading or PAMM accounts opened for participation in the competition is unlimited, which is a characteristic feature of the tournament. Consequently, the more accounts you have, the higher are your chances to succeed.
Other characteristic features of the tournament are the following: minimal deposit amounts to 100 dollars only, you are allowed to use any trading strategies, including electronic advisors, get certain information advantage with the help of rating of the contest, etc. All this, plus exclusive trading advantages from the organizer of the tournament; for more details read the article “RVD Championship – Contest of Forex Traders from RVD Markets Starts”.
By the way, winners will become not traditional three best traders, but five people who show highest profitability. The general prize fund amounts to 100,000 dollars, which will be distributed in the following way:
1st place – 50,000 dollars;
2nd place – 20,000 dollars;
3rd place – 15,000 dollars;
4th place – 10,000 dollars;
5th place – 5,000 dollars.
Traders can use the gained prize money means for further trade, investment at highly effective services of the company, or withdraw for personal use. At this point TOP 10 contestants of RVD Championship are:
As far as we can see, a trader under a nick Alien (Russia) is a leader. He has a rather serious breakaway from his closest follower – more than 20,000 dollars by absolute profitability. The odds are that at gained rate of trade this participant will eventually take the first place. Although, the whole month of the competition is ahead, and everything can change.
Until then please find below an interview with Alien, in which he tells about some secrets of his successful trade, reasons that have motivated him to take part in the contest, and why he generally finds work with RVD Markets profitable and convenient.
Alien: Haven’t Seen Anything Like That at Forex for a Long Time
Market Leader: Hello. Please, tell us why have You decided to take part in RVD Championship contest?
Alien: Hello. First of all, the prize fund is very good, I haven’t seen anything like that at Forex for a long time. And my trading system is currently showing good results, so I decided to fight for the prize money.
Market Leader: How hard or, on the contrary, convenient do You find work in conditions of extreme trading?
Alien: I would not say that participation is particularly hard. However, there is competition among first ten participants in the rating, especially from testopal, who has been keeping leading positions for a long time and showed very high income, but overrated risks have knocked him out of the struggle.
Market Leader: You have a considerable breakaway from closest rivals when only a month is left till the end of the tournament.Does this let you relax and “slow down”?
Alien: Yes, advantage over other contestants allows to slow down a little bit, and if I am certain that rival are far away and lower risks or suspend trade for some time, why to push luck?
Market Leader: Nevertheless, for the last week you have sustained a loss by slightly more than 1%.Because of what?
Alien: Nothing serious, working trade and drawdown in the framework of stipulated risks. This is market, things do happen, and the system is working, which is most important.
Market Leader: What is Your main goal in the contest: victory or, maybe, improvement of trading strategies?
Alien: I improve and optimize strategies and trading systems on accounts with smaller deposit and risks. At the contest I want to see what my trading system is worth at the most.
Market Leader: Why have You chosen the contest from RVD Markets company?There is a great number of other brokers, which also offer various trader contests.
Alien: I have already mentioned above that there is a big prize fund, 50,000 dollars for the 1st place in the contest. I haven’t met anything similar in other brokers, and some demo contests, which are popular these days, are not interesting for me.
Market Leader: How often do You generally take part in similar contest and can You compare RVD Championship with other trader tournaments?
Alien: Not often, I don’t even have what to compare with.
Market Leader: According to terms of the contest, several trading or PAMM accounts could participate.How many accounts and which ones exactly (trading, PAMM) have You opened?
Alien: I have opened one trading account, specifically for the contest. I do not trade at PAMM, for I do not like working with investors, communication with them and pressure from them distract me from trade.
Market Leader: Do You trade «manually» or apply means of automated trade, for example, advisors or robots?
Alien: My trading process is fully automated, sometimes I revise some parameters and hold optimization, but the work is generally set automatically.
Market Leader: Have You cooperated with RVD Markets for a long time?What, in your opinion, are the broker’s advantages?
Alien: I first met RVD Markets about two years ago. I was looking for a broker with low spreads and minimal commission fees, and RVD Markets has generally met my requirements.
Market Leader: What services, technologies, and company’s products are most useful for You?How much do they help to work effectively at the market?
Alien: The main points for me are fairness and openness of the company to its clients, favourable trading terms, opportunity of timely and quick withdrawal of profit; I consider all these main constituents of a modern and reliable Forex broker.
Market Leader: Do You apply in contests the same strategies and trading methods as in “live” trade at Forex?Or do You try new methods?
Alien: No, why to test anything new at contests when there is a ready system, which I work by?
Market Leader: And, in general, what trading strategies are up to You: aggressive, conservative, or moderate?
Alien: I like aggressive strategies on a short time span when market profile is suitable. On my accounts the risks are understated, for the main goal is to maintain a deposit, and then think about profit.
Market Leader: Do You prefer working for a long-term perspective or with scalping, pipsing?
Alien: I prefer mid-term trade. I close deals during the day; I shift positions to the following day very rarely.
Market Leader: What trading instruments do You find most convenient?
Alien: Currently I mostly trade majors in intraday trade, but neither do I neglect night-time scalping.
Market Leader: Please, tell a few words about yourself: when and why have You started trading, what results have You gained by now?
Alien: I have a degree in engineering, higher technical education, worked as an IT-specialist in one large Russian company. I got acquainted with exchange market yet in 2008, in the epoch of creating dealing centers, start of interest to earning at Forex market. I read a lot, studied, attended courses, seminars etc. Later I started doing algotrading, automatization of processes, etc. on my own.
What have I come to now? For 7 years, after having invested on numerous occasions in different types of trading systems, I have found out one interesting regularity, which proves that a trading system has to be as simple as possible. There are, certainly, intricate systems, which can give good income at a short time span, but they will surely merge on a longer period of time.
Market Leader: Is Forex Your main source of income, or simply passion?
Alien: It has already become the main source of income. In 2012 I quit work as a senior programming specialist in one company and devoted myself to trade. And my spare time is spent with the family.
Market Leader: Do You plan to take part in contest of RVD Markets company in future?
Alien: Yes, for sure. If the company holds such contests, it is a plus to its reputation and even higher interest among traders.
°Everything in your life should be joined to one another, so that later you could see everything at the same time. (Julio Cortázar)
