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Contest Support

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

new amendments

Registration Rules:

1. The JForex Strategy Contest (“Contest”) is held by Dukascopy Bank SA (“Dukascopy”) on DEMO accounts for JForex strategies on a regular monthly basis.
2. For each respective month registration opens on the 1st and remains available until the 15th day included of that month. Participants may register for the next month’s Contest at any time.
3. Only persons aged 18 or over are eligible to apply for a registration in the Contest.
4. Registration is a mandatory requirement for participation. Before trading on the contest account, Participant needs to compile a strategy in the trading platform in order to generate a strategy ID. The strategy ID is a unique identification number which is assigned to every trade on the Contest account. The strategy ID will be automatically assigned to Participant when the first trade is made on the contest account. Any further modification of the script will result in change of strategy ID. Participants are not allowed to modify the code and trade with different strategy IDs on the same contest account.
5. Participant agrees to provide true information at registration. If Participant will become eligible for any prize, information provided upon registration will be used to initiate procedure for opening of a live account with Dukascopy in the name of Participant. In case of information being false, inaccurate or incomplete, Dukascopy may declare participation in Contest void at any time at its sole discretion.
6. Among other, multiple registrations under the same or different IP addresses and names, and/or use of proxy servers may result in Participant’s disqualification.
Trading Rules:

1. Contest accounts are registered with an initial deposit of USD 100 000.
2. Terms and conditions commonly applicable to trading via Dukascopy at the time of the Contest shall also apply to trading within the framework of the Contest (for information purposes only, as of March 1st 2010 these include: 32 currency pairs available for trading, account leverage 1:100, minimal size of one trade USD 1000, margin cut level of exposure 200%).
3. Strategy must be compiled and used in the JForex platform only. Running the Strategy in any custom platforms or IDE is prohibited.
4. Trades must be mainly conducted by the Strategy script. In general, manual intervening is not allowed. In exceptional cases, the contestant may use manual trades to close positions, but the ratio of manually closed trades must be less than 10% of the total turnover. Dukascopy reserves the right to require Participant's explanation of any manual intervention with Strategy's operation, and accept or reject such an explanation at its sole discretion.
5. To run the Strategy, Participant must use his/her own computer during the Contest period. It's temporarily prohibited to use a new "Remote Run" mode of the platform. The strategy must be running at least 10 trading days of the month.
6. Trading requirements to the positions are as follows:
- The total amount of positions opened during the Contest must be at least 10 (i.e. 10 opening and 10 closing trades, 20 trades totally).
- The maximum amount of simultaneously opened positions is 1. Any further requests to open a new position will be rejected by the platform.
- 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.
- Any profitable trades executed with a similar time and price but with different directions within two or more contest accounts will be cancelled. These trades will be removed even if the contest accounts are registered with different names and IP addresses. If the percentage of suspicious trades is considered high, it may result in a disqualification of the contestant.
- Dukascopy reserves the right to cancel any trade which is made with a purpose to cheat on the contest or to evade a particular rules with an intention to get an unfair advantage over other participants.
7. Multiple order resubmissions are strongly prohibited and will result in automatic disqualification. The trading script of the strategy must include the validation on free margin and amount of simultaneously opened positions.
8. No “black boxes” (as commonly known in the industry) are allowed. Strategy’s trading algorithms must be fully scripted inside the JForex platform. Participants are not allowed to use external files (DLL, JAR, etc), and/or MT4 strategies with MT4-JForex Clients Bridge.
9. The strategy’s parameters must be hardcoded inside the script. Annotation @Configurable is prohibited for use. In exceptional cases, the contestant may change the parameters upon receiving a preliminary consent by Dukascopy.
10. The method onStop must be empty. This method can be used for logging operations only.
11. At the end of the contest all open positions will be automatically liquidated.
Ranking and Awarding Rules:

1. The winners will be determined at the end of each respective Contest period. 10 Participants with the largest positive balances in the overall rating table will be defined as award candidates.
2. The winners must disclose the code of the strategy to Dukascopy (Suisse) SA for verification purposes no longer then 10 days after the end of the Contest. If the verification for strategy ID fails, the respective Participant may be disqualified from the Contest.
3. The total prize pool of USD 15 000 is distributed among 10 winners of the contest in the following manner:
- 1st place – “grand prize” of USD 5000
- 2nd-3rd places – “golden prize” of USD 2500
- 4th-6th places – “silver prize” of USD 1000
- 7th-10th places – “bronze prize” of USD 500
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
5. Cash prizes are credited to a live account in the name of Participant with Dukascopy. A Participant who is awarded with a prize is not allowed to demand crediting of the prize to any other account, including, among other, an account that is not in the name of this Participant.
6. Each prize winner has a commitment to give consent to publication of his/her Strategy’s source code by Dukascopy. In case such consent is not given, respective Participants will have their prize value reduced by 50%. In case of 1st – 6th place winners the resulting prize amount will be credited to respective Participants’ live account with Dukascopy in a manner described above. In case of 7st – 10th place winners the resulting prize value will be counted towards the respective Participants’ bonus. If the total value of bonuses accumulated by the respective Participant exceeds 500 USD during one year the resulting amount may be credited to such Participant’s live account with Dukascopy in a manner, described above.
7. In case of Participant’s refusal to participate in promotional events, interviews, public announcements in connection with Contest, Dukascopy has the right to disqualify such Participant and give the respective prize to another Participant.

Dukascopy reserves the right to change the contest rules, requirements and awards without prior notice and at any time at its sole discretion. Dukascopy prevents the use of its JForex contest web pages for promotion of money management activities.

Please note that any modification of the Strategy’s code during the contest will result in a change of the strategy ID – the unique identification number which is used by the JForex platform to label every trade on the contest account. Participants with multiple strategy IDs within one contest account will be disqualified, unless Dukascopy decides otherwise in its sole discretion.

For feedback, questions and comments please send an email to jforex(at)dukascopy.com

bimbo · **User rating:** -

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.

Contest Support

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!

Sun · **User rating:** -

what is qualifying factors to enter into the contest..
or Is this strategy only for live account holders??

Contest Support

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.

[quantisan]

are the rules posted in post #1 above the final Sept rules?

Contest Support

Not yet. Follow the next thread. We are currently discussing the contest rules with everybody.

[inkexit]

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?

Contest Support

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!

Contest Support

The rules for September were updated. Please read it carefully while preparing your strategy for the next month.

[profx_eu]

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!

Contest Support

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.

Contest Support

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!

[inkexit]

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?

[inkexit]

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.

[inkexit]

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.

[arnab]

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?

[Jakil]

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.

Contest Support

At the moment, there are no rules which would put restrictions on the first trade, in terms of profit.

[arnab]

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?