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Contest Rules [September] http://www.dukascopy.com/swiss/english/forex/jforex/forum/viewtopic.php?f=21&t=18559 |
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Author: | Contest Support [ Mon 09 Aug, 2010, 15:38 ] |
Post subject: | Contest Rules [September] |
We will publish the contest rules for September here. As usual, we have marked amendments with red color. If you have any questions or suggestions, please post them right here! Quote:
Contest Rules (edition 09.08.2010, new amendments become effective starting from September) |
Author: | bimbo [ Mon 09 Aug, 2010, 17:44 ] |
Post subject: | Re: Contest Rules [September] |
hello, could you please explain more in depth this part of new rules: 'It's temporarily prohibited to use a new "Remote Run" mode of the platform.' Thank you. |
Author: | Contest Support [ Tue 10 Aug, 2010, 18:54 ] | ||
Post subject: | Re: Contest Rules [September] | ||
There is a new cool feature of the platform called "Remote Run". We have a powerful server where the clients can run their strategies remotely. It means that even when the platform is closed the strategy keeps running on the remote computer. Actually, the clients will be running the strategies not on the local machine at all! However, as this functionality is too new, we do not allow to use it in the contest for a while! The strategies should be run by using "Local Run" with is identical to the current running mode. What is really good is that our platform keeps becoming better and better!
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Author: | Sun [ Tue 17 Aug, 2010, 10:04 ] |
Post subject: | Re: Contest Rules [September] |
what is qualifying factors to enter into the contest.. or Is this strategy only for live account holders?? |
Author: | Contest Support [ Tue 17 Aug, 2010, 17:54 ] |
Post subject: | Re: qualifying factors |
There are no any specific factors. You need to create a strategy and fill up the registration form. Please read the contest rules carefully to learn more. |
Author: | [quantisan] [ Tue 24 Aug, 2010, 13:08 ] |
Post subject: | Re: Contest Rules [September] |
are the rules posted in post #1 above the final Sept rules? |
Author: | Contest Support [ Tue 24 Aug, 2010, 17:57 ] |
Post subject: | Re: Contest Rules [September] |
Not yet. Follow the next thread. We are currently discussing the contest rules with everybody. |
Author: | [inkexit] [ Wed 25 Aug, 2010, 00:04 ] |
Post subject: | Re: Contest Rules [September] |
Not quite sure I understand rule #4 4. The winners may withdraw cash prize amounts from their respective live accounts after meeting the following minimum turnover requirements on these live accounts: ◦1st place – 10 million USD ◦2nd-3rd places – 5 million USD ◦4th-6th places – 2 million USD ◦7th-10th places – 1 million USD I assume this must be calculated including leverage. So, if a person wins 1st place, they would have to have, for example, 10000 trades of 1000 units (this size should be +/- $0.10 USD per pip) opened and closed before they can withdraw the $5000? Or would it only have to be 5000 trades, as both opening and closing count? Or am I completely off altogether? |
Author: | Contest Support [ Wed 25 Aug, 2010, 09:48 ] |
Post subject: | Re: Contest Rules [September] |
If you will trade with micro lots then you need to do quite a lot - 5 000 trades. The idea is that when you close a trade, you increase your turnover. As a result, you need to make only 5 000 trades. But it's easy to compute that the spread and commission costs on 10 mil. are actually less than 1000$. So, it's up to you to decide the right strategy and trade side to achive the required turnover. If your strategy will be smart enough, you can even gain additional profits to your bonus. Good luck! |
Author: | Contest Support [ Wed 25 Aug, 2010, 10:36 ] |
Post subject: | Re: Contest Rules [September] |
The rules for September were updated. Please read it carefully while preparing your strategy for the next month. |
Author: | [profx_eu] [ Wed 25 Aug, 2010, 13:17 ] |
Post subject: | Re: Contest Rules [September] |
This is the third version of the contest rules for september and we have 5 days to decide what type of strategy will be fine for the rules. It is totaly different to not force to have fixed lot size and now the first position can profit 100% of the ballance if you can made it twice again. Is it he last version or it can be an other modification before 1st. of Sept. ? It would be fine not change the rules before the contest by 15 days! Then we have 2 weeks to think about the strategy, test it and optimize it to the rules. Think about it! |
Author: | Contest Support [ Wed 25 Aug, 2010, 15:28 ] |
Post subject: | Re: Contest Rules [September] |
profx_eu wrote: This is the third version of the contest rules for september and we have 5 days to decide what type of strategy will be fine for the rules. It is totaly different to not force to have fixed lot size and now the first position can profit 100% of the ballance if you can made it twice again. Is it he last version or it can be an other modification before 1st. of Sept. ? It would be fine not change the rules before the contest by 15 days! Then we have 2 weeks to think about the strategy, test it and optimize it to the rules. Think about it! This should be the final version of the rules. No further changes are expected. |
Author: | Contest Support [ Wed 25 Aug, 2010, 15:29 ] |
Post subject: | Re: profx_eu |
Yes, this is the 3rd change. Sorry about that! But we tried to do our best to find the perfect combination of rules! So, the rules are announced. No changes are expected to be done again! Write, test, optimise! Get ready for take on a challenge! |
Author: | [inkexit] [ Wed 25 Aug, 2010, 17:41 ] |
Post subject: | Re: Contest Rules [September] |
Contest Support wrote: If you will trade with micro lots then you need to do quite a lot - 5 000 trades. The idea is that when you close a trade, you increase your turnover. As a result, you need to make only 5 000 trades. But it's easy to compute that the spread and commission costs on 10 mil. are actually less than 1000$. So, it's up to you to decide the right strategy and trade side to achive the required turnover. If your strategy will be smart enough, you can even gain additional profits to your bonus. Good luck! So just to confirm, opening a trade counts and closing a trade counts. So, if you think of "a trade" as both the opening and closing of a trade together, you will get credited double the volume size? For example, if I open a trade of 1000 units and then close it, I get credited for a turnover of 2000 units? |
Author: | [inkexit] [ Wed 25 Aug, 2010, 17:53 ] |
Post subject: | Re: Contest Rules [September] |
Quote: The maximum amount of simultaneously opened positions is 1. Any further requests to open a new position will be rejected by the platform. Would you please explain the reasoning and justification behind this rule? It's hard to see how having more than one open position at a time gives an unfair advantage. Thank you. |
Author: | [inkexit] [ Thu 26 Aug, 2010, 00:57 ] |
Post subject: | Re: Contest Rules [September] |
Also, what happens in terms of taxes if we don't have enough turnover to be able to withdraw the prize money before the end of the year? Will Dukascopy provide us with an account statement with the prize money deducted from it to submit to our tax authorities? Surely we shouldn't be expected to pay taxes on money we cannot access? sorry so many posts in a row. |
Author: | [arnab] [ Thu 26 Aug, 2010, 01:30 ] |
Post subject: | Re: Contest Rules [September] |
Quote: The maximum profit on a single position must be below 50% of the total profit of all positive trades. If not, Dukascopy reserves the right to decrease the total balance of the account for an amount equal to the profit of the position and apply the rule recursevly. What would be the allowed profit for the first trade? |
Author: | [Jakil] [ Thu 26 Aug, 2010, 07:48 ] |
Post subject: | Re: Contest Rules [September] |
arnab wrote: Quote: The maximum profit on a single position must be below 50% of the total profit of all positive trades. If not, Dukascopy reserves the right to decrease the total balance of the account for an amount equal to the profit of the position and apply the rule recursevly. What would be the allowed profit for the first trade? I think compliance with the rule will not be verified till the end of the contest. Which means, you can have any profit for any of your trades, including the first one, provided that your final result for each individual positive trade is compliant with this rule. |
Author: | Contest Support [ Thu 26 Aug, 2010, 09:21 ] |
Post subject: | Re: Contest Rules [September] |
At the moment, there are no rules which would put restrictions on the first trade, in terms of profit. |
Author: | [arnab] [ Thu 26 Aug, 2010, 13:59 ] |
Post subject: | Re: Contest Rules [September] |
Contest Support wrote: At the moment, there are no rules which would put restrictions on the first trade, in terms of profit. If I consider Jakil's understanding to be true, does that mean that no trade has restriction on the amount of profit it can make provided no trade made more profit than 50% of the total profit an account made by the end of the competition? |
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