Since the start of the month, participation and visitors seems to less. I do not exactly why as i actively visiting site just for 20-30 days. However reading the forum, i think its because of prize cut.
Although prize should not be only one criteria to participate. The participation and recognition should also be major considerations. However recognition comes only when there are lot of competitors. 1st boy of a classroom does not enjoy if total number of student is 2.
In recent month so far my postion is number 1 but total number of visit around 100 and i suspect if my own visit is count then real visit may be 90 so at the end of month i will get publicity to only 400- 500 people which seems frustrating. So dukascopy can think of increasing participants.
lastly, position based on visits only seems boring. So it would better to reduce weight on popularity and increase weight on expert evaluation. if those evaluation can be given atleast weekly that would be more better.
If dukascopy think , 5000 usd is unjustified for 20-30-50 competitors then they can stop 5000 rather the first prize can be only visit to dukascopy monthly convention. 2nd price can be something. Whatever the price let it be fixed.......for 1 competitor or 50 competitor. you can add prize after few months or close the competionb whatever suits that time. but for now, may be a fixed prize system will be more honorable.
prize cut are demotivating.. just like salary cut. So just like management, New scale of prize can be fixed which does not show any sign of prize cut... rather it show a small budget competition.
we would just love to pay the full-scale prizes to participants. Still, there are not that many new contestants that would like to take part. We made the prize system proportionate as an experiment with 2 primary goals:
1) make the contest monthly - (do not wait until there are 100 participants, which was the initial idea)
2) give some incentive for the contestants to invite their friends join the competition (thus increasing the prize fund. )
If in September we saw some progress with the participant count, in October the picture was not that good. We are now thinking of some promotion activities.
But as for the prize fund - do you think it would be fair that, let's say, from 20 participating users 10 win the full-prize? There are around a thousand contestants in the Traders Competition fighting for the same prizes. In any case, thank you for suggestions, we will be thinking of some ways how to make the contest grow.