Dukascopy JForex Strategy Contest is a forex competition between participants using DEMO accounts for automated trading. Special contest rules are designed to make the competition fair and challenging at the same time. This contest is a perfect choice for those who are learning to program trading strategies with the JForex platform.
The ranking of the participants is obtained through a summary of their trading performance, strategy popularity and expert evaluation. The participants submit the strategy source files to the remote server that runs strategies non-stop during the contest month. At his own discretion, the author of a strategy has the right to disclose the code script on the personal blog in order to achieve higher popularity in the contest. The contestant can describe the strategy algorithm and comment on its performance on the personal blog. Dukascopy Forex Community members are offered to read, analyse and evaluate strategies by rating or commenting on them.
The Dukascopy JForex Strategy Contest is conducted regularly on a monthly basis with the total monthly prize fund of 15 000$ to be shared among the winners.
- The JForex Strategy Contest ('Contest') is held by Dukascopy ('Dukascopy') on DEMO accounts for JForex strategies on a regular monthly basis. Anyone who wants to take part in the Contest (individually a 'Participant' or collectively 'Participants') must register following the rules below.
- For each respective month, registration opens on the 25th day of the previous month and remains available until the 25th day of that month. For example, registration for January 2011 is opened from 25.12.2010 till 25.01.2011
- Only persons aged 18 or over are eligible to apply for a registration in the Contest.
- Participants shall provide true information at registration. If a Participant will become eligible for any prize, information provided upon registration will be used to initiate the procedure for opening of a live account with Dukascopy in the name of the relevant Participant. Should information be false, inaccurate or incomplete, Dukascopy may declare the participation in the Contest void at any time at its sole discretion.
- Participants acknowledge and agree that their registration data are not covered by confidentiality whether or not Participants already have a live account with Dukascopy or intend / need to open such live account in the future. Consequently, Participants waive expressly the benefit of Swiss Banking Secrecy and release Dukascopy from any liability in that respect in the frame of the Contest.
- Participants acknowledge and accept that, in case they are awarded with a prize by Dukascopy, they may be asked to participate in promotional events, interviews, public announcements in connection with the Contest and that Dukascopy may make public use of their names, trading history and references. Consequently, participants waive expressly the benefit of Swiss banking secrecy and release Dukascopy from any liability in that respect.
- Participants acknowledge and agree that should they decline Dukascopy's request to participate in above-mentioned promotional events, Dukascopy has the right to disqualify such Participants and to give the respective prize to other participants.
- Among other, multiple registrations under the same or different IP addresses and names, and/or use of proxy servers may result in Participant's disqualification.
- Contest accounts are registered with an initial deposit of USD 100 000.
- Unless specified otherwise, terms and conditions commonly applicable to trading via Dukascopy at the time of the Contest shall also apply to trading within the framework of the Contest (for information purposes only, as of March 1st 2010 those include: 32 currency pairs available for trading, account leverage 1:100, minimal size of one trade USD 1000, margin cut level of exposure 200%).
- Participant uploads the strategy source file to the remote server on the profile page. The remote server will compile the source file, start the strategy and keep it running during the contest month. The strategy will not be submitted to the remote server if the compilation fails.
- Participants acknowledge and agree that Dukascopy is not liable in case of any malfunctions, exceptions, programming bugs of the strategy and that increased CPU and memory usage will result in termination of the strategy.
- In case of any programming issues, Participants might request an exceptional permission to resubmit the strategy one time during the Contest month. The detailed explanations and strategy modifications have to be provided in the comments to the resubmission.
- Trading requirements to the positions are as follows:
- The total amount of positions opened during the Contest must be at least 20 (i.e. at least 20 opening orders).
- The maximum amount of simultaneously opened positions is 1. Any further requests to open a new position will be rejected by the platform.
- Any profitable trades executed with a similar time and price but with different directions within two or more Contest accounts will be cancelled. These trades will be removed even if the Contest accounts are registered with different names and IP addresses. If the percentage of suspicious trades is considered high, it may result in a disqualification of the relevant Participants.
- Dukascopy reserves the right to cancel any trade which is made with a purpose to circumvent the Contest rules or to evade a particular rule with an intention to get an unfair advantage over other Participants.
- Multiple order resubmissions are strongly prohibited and will result in automatic disqualification. The trading script of the strategy must include the validation on free margin and amount of simultaneously opened positions.
- Margin call trades incurred due to overexposure on a Contest account (e.g. use of more 200% leverage) will result in automatic liquidation of all existing open positions.
- At the end of the contest all open positions will be automatically liquidated.
- Before submitting the strategy to the remote server, Participant has to verify that the strategy can be compiled without errors.
- Participants are not allowed to use external files (DLL, JAR, etc). Only custom indicators implemented inside the strategy can be used.
- Dukascopy expects Participants to adhere to the following list of recommendations:
- The strategy algorithm has to be symmetrical for opening long and short positions.
- It is strongly discouraged to include built-in forecasts, hardcoded prices targets.
- It is strongly prohibited to set any equity targets and switch the strategy into 'hibernate mode'.
- The back-testing result has to be adequate and similar to the live trading results.
- The strategy must be written in accordance with Java Code Conventions. All comments have to be provided in English.
- Participants are not allowed to include personal contact details (names, phone numbers, emails, and web links) in the script of the strategy.
- Visual JForex Programming Rules:
- Participant's strategy and components of the strategy must not be based on a strategy component that is developed by a 3rd party.
- Logical blocks have to be arranged in a readable order.
- Before submitting the strategy to the remote server, Participant has to verify that the strategy can be tested without errors.
- Strategy has to be deployed from Visual JForex (Compiler -> Contest).
- After adding a visual strategy to the contest, the strategy has to be activated on 'My Page' section of the web-site.
- The subscription to instruments must be provided in onStart method. By default, Remote Server is not subscribing the strategy to any instruments. Pleas see Recommendations for programming tips.
- Participants can upload unlimited number of strategies and its versions to the Contest account. Participant must activate one of uploaded strategies in order to participate in the Contest. The activated strategy cannot be changed but can be upgraded one time to a newer version during the Contest month.
Each month winners' selection will be evaluated by four parameters, totally 300 points:
- Performance - real increase of capital. Maximum 200 points.
- Drawdown - maximum decries of capital in percents. Maximum 50 points (0 percent drawdown).
- Strategy Publication Bonus
- Participants who are copyright holders of their strategies are rewarded with additional bonus points for the strategy publication at the beginning or during the Contest month.
- In the case when the strategy code is disclosed, the bonus points are calculated according to the following formula:
Bonus Points = remaining days till the end of month X 1 point 5 points
- If the strategy is disclosed on the last day of the contest, Participant receives 5 points as the minimum bonus.
- Participants who produced copies or reproductions of a strategy are not eligible for bonus popularity points. The strategy is considered copied if a substantial part of the algorithm (at least 90 percent of the script) resembles another strategy. The author of the strategy and other participants may complete copyright claims by providing information about code snippets that have been copied and a reference to the original strategy.
After reviewing copyright claims which are submitted during a month, Dukascopy may remove the bonus points from the participant if the copyright claim revealed that the strategy has been copied.
- Visual Strategy Bonus. Participants who use a strategy created with Visual JForex will benefit from additional 15 points. The promotional bonus points are provided in the context of latest release of Visual JForex - the new strategy development tool provided by Dukascopy.
- Only Participants with real positive increase of capital can be treated as Contest nominees.
- Participant's strategy has to be described in detail in order to receive the prize won in contest. This means that a description of the trading logic, indicators, settings and other necessary information should be present in strategy description.
- The total prize pool of USD 15 000 is distributed among 10 winners of the Contest in the following manner:
- 1st place - 'grand prize' of USD 5000
- 2nd-3rd places - 'golden prize' of USD 2500
- 4th-6th places - 'silver prize' of USD 1000
- 7th-10th places - 'bronze prize' of USD 500
- The winners may withdraw cash prize amounts from their respective live sub-accounts after meeting the following minimum turnover requirements on these live accounts. These requirements constitute 1.5 million USD for every 100 USD won in the contest. In other words:
- 1st place - 75 million USD
- 2nd-3rd places - 37.5 million USD
- 4th-6th places - 15 million USD
- 7th-10th places - 7.5 million USD
- Top-3 position winners are required to take part in one broadcast of Dukascopy Community TV. Broadcasts are open-format and users have the opportunity of presenting the trading strategies and principles that lead them to success in the particular contest, taking part in the discussion of one of the open discussion of the Live TV or suggesting another topic of their interest related to Forex/Economics/Trading psychology etc.
The broadcast is to be carried within one calendar month after the end of the contest month. Dukascopy representatives will be in contact with every of the winners to appoint a commonly convenient time for the broadcast.
The only device one needs to take part in the web-broadcast is a microphone and a web-cam. Broadcasts are held in English. Cases when the prize winner does not master English at a sufficient level will be solved on an individual basis: either by outsourcing an interpreter or via other individual solutions.
Prizes are credited to the Participant's trading sub-account not linked to any Business Introducer in the name of Participant with Dukascopy.
If Participant does not have a live account with Dukascopy, then he/she should proceed to the live account opening procedure in a regular way. If Participant does not comply with live account opening requirements, Dukascopy reserves the right to cancel the cash prize.
If a Participant already has a Live account but has not yet any open sub-account, Dukascopy opens a sub-account in the Participant’s reference currency and credits the prize(s) on this sub-account.
Save contrary and valid preliminary written instruction of the Participant, Dukascopy converts the prize(s) into the currency of the sub-account on which the prize(s) shall be credited in application of the present rules. Such conversion is subject to fees as per the fee schedule posted on Dukascopy website.
- Each prize winner has a commitment to give consent to publication of his/her Strategy's source code by Dukascopy. In case such consent is not given, respective Participants will have their prize value reduced by 50%. In case of 1st - 6th place winners the resulting prize amount will be credited to respective Participants' live account with Dukascopy in a manner described above. In case of 7st-10th place winners the resulting prize value will be counted towards the respective Participants' bonus. If the total value of bonuses accumulated by the respective Participant exceeds 500 USD during one year the resulting amount may be credited to such Participant's live account with Dukascopy in a manner, described above.
- In case of a Participant's refusal to participate in promotional events, interviews, public announcements in connection with the Contest, Dukascopy has the right to disqualify such Participant and give the respective prize to another Participant.
- Participants acknowledge and agree to make efforts to respect the principles of Fair Play.
- Participants must refrain from any dishonest and unfair conduct even if these activities are not fully described within the framework of the Contest rules.
- Such activities include, but are not limited to:
- Registration of persons that are directly or indirectly related to other Participant
- Various team tactics that include consolidation of Participants into a group with a purpose to get a statistical advantage on one of the accounts
- Trading in opposite directions within one or more accounts
- Spamming in private messages and comments
- Any kind of manipulations with popularity points and other statistics
- Other activities used to get an unfair advantage over other Participants
Publication of a Participant's strategy implies a distribution of its copies to the general public with the consent of its author. By authorizing the publication of the strategy script on Dukascopy's website, the Participants are not deemed to waive any of their copyrights or other intellectual property rights related to the strategy. Participant acknowledges and accepts not to make any financial claims against Dukascopy or any third parties who disseminate or use strategies published on Dukascopy's website or other web resources. Participants acknowledge and agree that they shall not be able or even allowed to control, limit and influence the amount of copies of strategy scripts distributed or made available by Dukascopy.
- Dukascopy reserves the right to change the Contest rules, requirements and awards without prior notice and at any time at its sole discretion.
- Dukascopy reserves the right to use any kind of information posted by Participants within the framework of the Contest for its own purposes without prior coordination and approval from the authors. These purposes may include any kind of promotional activities or publicity campaigns, statistics collection etc.
- Dukascopy prevents the use of its JForex Strategy Contest webpages for promotion of money management activities.
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