Although we have been waiting 34 weeks, LIVE Binary Trader Contest has not proved to be neither popular nor successful. Since it did not meet our expectations, we announce its closure. The last contest day is today (July 19), thus please be informed that starting from Monday (July 22) any trading performance on your Binary contest accounts will not be rewarded with prizes.
Meanwhile, we continue conducting LIVE Trader contest. In case the number of participants continues to rise, it is highly possible that the prize fund will be increased along with the number of winners. Stay tuned for new updates and have a nice weekend ahead!
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.
Only one point separated earspower from WallStreetBlog, the winner of the 30th week of LIVE Trader contest. This is the first time WallStreetBlog gets the main prize of 500 USD raising a total sum of won cash prizes to 990 USD. 250 USD won by earspower is the tenth prize he earned here and the aggregated prize amount therefore grew to 880 USD. We send warm welcome to liujg1201, who finished seventeenth and thus got his first prize since April when he joined the contest.
Congratulations to all 20 winners who shared the 1500 USD of the contest prize fund! Meanwhile, the total sum of cash prizes paid to 99 different Community members since the contest start has reached 33950 USD! We take this opportunity to inspire other contest participants who didn’t enter the final ranking yet to show their skills next time and to join the team of leaders of trading in the coming contest weeks.
Carlove, who registered in Dukascopy Community 2.5 months ago won the main prize for the third time by earning 96 points out of 100 possible. He was not the best in Profitability nomination, however high traded volume allowed him to win 500 USD. sos and bezalex finished at second and third places with 89 and 85 points respectively. Congratulations!
MURO has showed 3.9% of profitability during his first week participation, which allowed him to finish on the 24th place without any prize. However, taking into consideration that the 27 points, assigned for trading activity, have boosted his position significantly it allowed him to get his first 70 USD prize. This is another example of how valuable Traded volume points can be. foreignexchange won first 20 USD prize in his second attempt that is also a quite remarkable result. We congratulate our newcomers with this initiative and wish you more profitable contest periods.
1500 USD is already distributed among the winners and we invite you to check your trading accounts. Thank you for participation and wish you all the best!
llolor and ForexBugiy came to finish of the previous contest week with equal amount of points - 99. In accordance with the contest rules, in such cases, the advantage is given to participant with higher profitability. Therefore, llolor took the first place and the main prize for the fourth time since the contest launch. He also continues to hold a leader position in terms of won prizes sum (1700 USD). ForexBugiy took the second prize of 250 USD in this tight competition and the total sum of his won prizes reached 1330 USD. Congratulations with those amazing achievements!
VectorCZ and Vaibhav27 are the winners who entered top-20 participants for the first time. We greet you here and hope to see you among the winners next time.
In the meantime, there are no more news. We wish plenty of green trades to all participants all the way down to the end of this contest week.
20 traders have entered the final ranking of the first week of April and already got their prizes. Congratulations!
chytry_dziad from Poland showed the best profitability and got 89 points in total. This was enough to win the contest and the main prize of 500 USD. WallStreetBlog finished second, just one point short and MFaheem ended the week on the third position.
Meanwhile there are four Community members who already trespassed 1000 USD threshold of won prizes since the contest start: llolor (1200 USD), olegik and ForexBugiy (1080 USD both), dukfxx (1000 USD). Congratulations with this achievement!
That is all for today. We thank all contest participants for taking part in the contest and wish a wonderful weekend.