30 participants finished with positive profitability during the previous week and 20 of them were rewarded with prizes. Dominos from Egypt finished on the first place having shown the highest profitability among all the contest participants (211.3%). kutlu from Turkey and TuHoang from Vietnam finished second and third respectively. Congratulations to the top-3 winners as well as to other 17 contestants who shared 1500 USD. The prizes are already paid so please check your accounts.
In the meantime, we would like to continue the discussion that started in comments to a previous post. It consists of polar assessments of trading practice that allows some participants to get additional points by making short-time trades. Since there were no unanimous opinion, we would like to continue the discussion and welcome all contest participants to provide their opinion and, what is even more important, the possible solution.
We would like to remind that the contest was initially designed with minimum conditions to the contrast with DEMO Trader contest that had a lot of parameters and restrictions to comply with.
However, few months after the contest launch we have discovered that there is an imparity between the results of participants who’s equity significantly differs. Thus, traded volume points were introduced to support those participants, who trade with bigger deposits as they bring more commission and are bound by tighter risk management.
Few traders took advantage of this improvement during previous weeks gaining additional points by boosting their trading volume opening short-time positions. As a possible solution, we can react to this by introducing new rule (to set a minimum trade duration, for example) that will make the contest more complex both for participants and moderators moving it away from the original idea of simplicity. On the other hand, if a participant gained some profit he or she can do with it whatever he or she wants (to keep it or to spend it paying commission to get more volume points) because this time the contest is being conducted on LIVE accounts and every trader’s action costs or brings real money.
Since the contest is created for participants, we would like to hear from you whether it is seen reasonable to take any actions in this regard and to make it a bit complicated or to leave it as it is.