Risk Manager Contest - upgrade your skills and win prizes
Hello friends forex traders.
Each of you must have heard that the ratio of Risk to Profit in the transaction should be at least 1 to 2 (i.e. take profit at least 2 times the stop loss). But let's be honest: who takes this approach in practice? Very few. There are many reasons: this is greed and fear, illusions about time frames, etc. etc.
But what if you try this practice in practice? It is for this purpose that we, together with Alpari, organized a competition for you"Risk Manager" on demo accounts, where you can practice a tough risk approach and maybe discover the grail)
What is the essence of the competition?
Everything is very simple: you open a demo account (see conditions and restrictions below), trade in lot 0.01 (you can define an entry point using any strategy) and, most importantly, use the fixed Stop Loss and Take Profit values. In this case, TP will be 5 times more than SL. And nothing else) Values for TP and SL below.
The competition will last 2 weeks, after which many participants will have a shift in consciousness, and maybe not one ...
And what are the prizes?
Prizes will be 10. Winners will determine the administration of the resource. The more you earn, the better)
- 1st place - $ 300
- 2nd place - $ 200
- 3rd place - $ 150
- 4th place - $ 100
- 5th place - $ 75
- from 6 to 10 place - 50 $
Note: cash prizes will be paid through the WebMoney system
Also, the winner who takes 1st place will receive a small copy of the legendary Wall Street Bull! Bull brings good luck and profit in trading 😉
To participate in the contest you need to register your contest account by October 15 (inclusive) (see conditions below). The contest itself will be heldfrom October 16 to October 27. Those. You will have 2 weeks to trade on the competitive account. The results of the competition will be announced before November 1 (most likely earlier).
Competition rules - read carefully!
To participate in the "Risk Manager" contest you need:
1. Register a standard demo account in Alpari. Demo account balance must be1000$
2. Create monitoring for this account on Myfxbook.com -> see the instructions for creating monitoring. All trading account data in monitoring should be open!
3. Send your name, link to Myfxbook monitoring, number and password to the demo account by e-mail
In the subject line indicate "Risk manager".
4. In the periodfrom October 16 to October 27 make transactions in your account, observing the restrictions (below).
- Only 1 account is accepted from one person for the contest.
- Until October 16, open positions on the contest accountprohibited.
- You can trade only in pairs: EURUSD, GBPUSD, AUDUSD.
- The size of each order is 0.01 lots.
- It is forbidden to hold more than 1 transaction for 1 currency pair at a time.
- Each trade must be open with fixed Stop Loss and Take Profit. Stop loss = 10 points, Take Profit = 50 points.
You bought EURUSD at the price of 1.1700. In this transaction you will need to set: stop loss = 1.1690, take profit = 1.1750. You can’t close the deal manually.
- By the end of the 2nd trading week (October 27), all transactions on the competitive account must be closed. For an open position, not deleted pending orders are also considered.
- A participant who has completed less than 10 operations on his account during the competition, or has violated any other of the above restrictions, will be disqualified.
- An hour before the market closes on Friday (October 27), it is possible to close previously opened transactions with profit / loss of less than 50 and 10 points, respectively, but you should not count on this.
- Also, those who do not send or send incorrect links to myfxbook will be disqualified.
- We all know that there are slippages, requotes, etc. on the market. Therefore, backlash (fluctuations) of SL and TP in individual transactions within 1-3 points is allowed. You will not be disqualified for this.
Competent Risk Management and profitable trading!
P.S. Competition results here -> //forum.tradelikeapro.ru/dnevniki-treyderov/29/konkurs-obsuzhdenie-konkursa-risk-menedzher/17061/msg380614#msg380614