The Technical Analysis Contest (“Contest”) is a monthly competition between Members of Dukascopy Community ("Community"). The Contest participants submit their argumented technical analysis for at least one currency pair for the pre-defined date and time, which is afterwards evaluated on the basis of its accuracy and quality.
Every month the prize pool of USD 10,000 is distributed among 15 winners.
The Contest objective is to determine who in Dukascopy Community is the best at preparing technical analysis.
- To register for the contest, one has to proceed to the contest page and press the “Join contest” button.
- Registration for each month opens on the 1st day of the respective month and closes on the last day.
- Participants shall acknowledge and agree that their predictions, any picture, personal data, and any other information posted on Dukascopy Technical Analysis Blog are accessible to the public and that Dukascopy does not ensure any confidentiality in this respect.
- Participants shall 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 use of their names, community history and references. Consequently, participants shall waive expressly the benefit of Swiss Banking Secrecy and release Dukascopy from any liability in that respect.
- Participants further acknowledge and agree that should they refuse Dukascopy 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.
The contest is open to anyone older than 18; prizes will be credited to participants eligible for LIVE Prize sub-account opening with Dukascopy.
- To participate, one has to be a member of Dukascopy Community and register for the contest.
- Participant can submit technical analysis for as many currency pairs as he wishes. The only limitation is no more than one submission per currency pair.
- Every month, Participant submits his technical analysis for a predefined date. Usually we ask to predict the currency exchange rate for the 1st day of month after the next month. For example, in April participants submit analysis for the 1st of June, 12:00 GMT.
- Participant should submit technical analysis that consists of minimum of two charts and the text that briefly explains the predicted rate and the used analysis methods. The charts for the technical analysis have to be prepared using Dukascopy products (JForex, web platform, web charts, etc.)
- Technical analysis post may be edited (deleted and posted again). Please note that the prizes sum will decrease by 2% for every day if you resubmit your analysis after the 15th day of the month.
- The winner is determined according with the accuracy and quality of his analysis. Dukascopy Bonus points are also applicable.
- The accuracy score is obtained from the rank in the prognosis top. By accuracy we mean the difference between the predicted price and the BID price of the respective currency pair at the predefined date and time. Prognosis top is formed from all the technical analysis posts in the current month. Note that if a participant has multiple posts, we only count his best-ranked analysis.
- The maximum score is 90 points. According to the places in nomination “accuracy”, participants will gain points from 90 till 1 in the following sequence: (1) 90, (2) 85, (3) 80, (4) 79, ... (82) 1.
- The quality evaluation is based solely on the quality of the chart, description and the popularity of the post. We also look at the relevance of the title and tags. The maximum score is 15 points.
- Dukascopy reserves a right to add up to 10 bonus points for the participants that supplied their technical analysis with updates in comments during the wait time (date of submission – date for which the rate is predicted).
- The maximum possible score is 115 points: 90 points for accuracy, 15 points for post quality and 10 optional bonus points (Dukascopy score)
The total prize pool of USD 10 000 is distributed among 15 winners of the Contest in the following manner:
- 1st place - 2500 USD
- 2nd place - 1500 USD
- 3rd place - 1000 USD
- 4th place - 750 USD
- 5th-10th places - 500 USD
- 11th-15th places - 250 USD
We want to encourage participants not to post their technical analysis during the last day of the month. Thus, when you post an analysis after 15th of each month, the prize (if applicable) will decrease by 2% every day. For example, if you submit your prediction on the 30th and score the 1st place, you will only get 1750 USD instead of 2500. Note that the prizes of 250 USD are not subject to this deduction.
Prizes are credited to the Participant's LIVE Prize sub-account not linked to any Business Introducer in the name of Participant with Dukascopy.
If Participant does not have a LIVE Prize account with Dukascopy, then he/she should proceed to the LIVE Prize 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 Participant already has an opened Dukascopy current account without any opened trading sub-accounts, Dukascopy will open LIVE Prize sub-account in the basic currency of the account of the Participant.
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.
The contest winners may withdraw their cash prizes and the profits generated from their cash prizes on their respective sub-accounts after meeting the minimum turnover requirement. The minimum turnover requirement constitutes 2.5 million USD for every 100 USD won in the contest.
Participants are allowed to withdraw funds in full only when there are no blocked prizes on the account. Profit can only be withdrawn when there are no blocked prizes on the account.
If there are both blocked and unblocked prizes:
- participants are only allowed to withdraw the sum of unblocked prizes;
- only the positive difference between equity and sum of blocked funds can be withdrawn;
- the sum of withdrawn funds can't exceed the sum of unblocked funds.
LIVE accounts which are credited with prize money are considered LIVE Prize accounts. LIVE Prize accounts can be credited only with cash prize money. Clients are not allowed crediting their own funds on this type of account.
We expect participants to be reasonable with what they post. The “Code of conduct”
shall not be violated. Dukascopy reserves the right to disqualify a Participant, to change the Contest rules, requirements and awards, without prior notice and at any time and at its sole discretion.
Please avoid the following topics in the Dukascopy Community:
- Pornography or sexually explicit content
- Racism or sexual discrimination
- Hate speeches
- Shocking & disgusting content
- Unlawful acts
- Infringements of intellectual property
- Violation of privacy
Note that Dukascopy does not take any responsibility whatsoever for participants violating the intellectual property laws. The contestants that do not respect copyright might be banned from the Dukascopy Community forever.
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 reserves the right to disqualify a Participant, to change the Contest rules, requirements and awards, without prior notice and at any time and at its sole discretion.
For feedback, questions and comments please send an email.