New Trading Contest!

We’re happy to announce the next forex trading contest, sponsored by Octa Markets Incorporated!

There will be total $5000 in prizes given out to the top 3 traders as follows:

o    1st place is awarded with 3,000 USD

o    2nd place is awarded with 1,500 USD

o    3rd place is awarded with 500 USD

The registration will be open until June 16th and trading will then commence and will continue up to July 1st.

Trading will be performed with a $10,000 demo account and a 1:500 leverage.

To register, go here: http://www.myfxbook.com/contests/forex-contest-octafx/22/rules

Good luck!

The Myfxbook Team.

13 Responses to “New Trading Contest!”

  1. Tine says:

    I find this competitions are boring because they do not represent the real skill of trading.
    In real trading you dont trade with “all in”. You trade perhaps with 5% of your total account, not 50% and more.
    the last guy made 1 mio in a week with 10k and as I analyzed his pattern, its totally off the charts. I mean, congrats that he made it but its not trading. Its frenzy crazy scalping trading.

    Zwinner Reply:

    This is because they are trading on a Demo Account.
    With a Live Account no one is as foolish to stake 50%
    of the account on each trade.

    Tine Reply:

    Yea, exactly. And with that being said, I cant really consider them as winners. That kind of approach takes out all the real fun in playing the game and competing. And most importantly what trading on forex is really all about.

    I am curious how it would be if we were all limited to perhaps 5% max. of entire exposure. I am curious of the results then.

  2. MadaForex says:

    I will do it.

  3. Motie says:

    Rule: The prize is paid into the client’s real account at OctaFX and can be withdrawn
    Question: Is there any conditions for the prize to be withdrawn?

  4. Ernest says:

    I agree with Tine. This is not trading! It actually promotes a very dangerous kind of trading – so the people with no proper management are the winners. But maybe that is what these promotions want. To pay the prize money to someone who adheres to no money management so that they can win back their money quickly.

    Tine Reply:

    thumbs up! :)

  5. adesola azeez says:

    I will participate

  6. Rsafx says:

    These contests can do a great dis-service to a learned trader who is or has developed sound discipline trading the forex market. I entered a few initially to develop, harness and track my performance, strategies, accuracy and ability as a developing trader. Just to echo what Tine said, congrats to the guy who won the previous contest but until there is a contest of similar nature to actual trading with real money, there will remain these crazy statistics of winners making virtual millions with a few trades within a week or two. Anyway i wish all the participants well for the upcoming contest, more than the prize money, may you develop into great traders, money managers and the like!

    Tine Reply:

    Thumbs up! :)
    Thanks! I thought I was the only one,lol.

  7. Akirika says:

    Haters all ya. If you have a strategy that you trust so much as to stake 50% of your equity on it and you still won, it means the strategy is water tight. Do you know what will happen to the contestant if he’s strategy is crap? he’ll crash out of the trade after just two trades!!! But he didn’t! Why can’t you see it as a possibility of what one with a good stragegy can achieve if we all didnt have to worry so much about losing our whole accounts.

    Its virtual money yees, and if you yappers are such great traders, why not showcase your strategies and also use 50% of your account? after all what have you got to lose – nothing – and $5k to gain. Common quit yapping and register…. Chicken(s)

  8. mehdi says:

    registration window is inactive for me.is it because i’m from IRAN?

    Myfxbook Reply:

    No, you must login to register.