Actually that question was very related to this contest. My questions now are:
1) Do you allow people to participate when you know you cannot open a live account for them in the country in which they live?
2) If...(big if lol) you do allow people in these countries to participate do you make it known up front?
3) If say somebody won the contest from one of these countries and you cannot open them a live account is there some other type of prize?
4) Also in such a case would you still use a video made in the video contest for promotional material?

if you ask me you have left these questions unanswered because the answers are simply embarrassing to you. I'm pretty sure I already know the answers but why not come clean and answer them for me if I am so wrong? Or are these questions still not related closely enough to your contest?

Anybody who wants to know what broker I refer to just use twitter and dm @CrazyFkr i will tell you all about it there where there are no forum rules.

2% TP and SL rule is really annoying for me as I’m trading on 4h charts an usually keep my position for couple days. Aiming for 200 -400 pip move. Unfortunately I can’t do it in this contest co I feel left out.

Shorrly 2% (1% for JPY) rule only favour scalpers and short time day traders. Specially in current market conditions when 1 day move can be well over 2%

Dukacopy please change the 2% rule!

You can always move your TP more than you initiate in the beginning. but you can't widen your SL. Suppose you had short eur/usd position at 1.44 and had set initial sl of 1.46 and tp as 1.42, you can widen the tp to 1.4150 but can't increase the sl to 1.4650.

to do this, right click on the position and select "change take profit" and increase it.

must try this
cheers

I'm guessing crzyfkr is using Oanda, as he stated that they do global currency exchanges(fxglobaltransfer), and they only charge spread, and also interest.

I have an account with them as well and never really had a problem w/ them.

I don't believe Oanda consider's themselves to be an ECN though, so on that you are mistaken, they just state that they are a transparent FX broker.


----

on to the original topic, I too would like to see removal or widening of the 2% position rule as to mimic a more realistic trading environment.

also not sure if this is already part of the rules but I believe margin call's should also be a part of the contest as well. my apologies if this is already something that is active in the contest I may have overlooked it in the rules.

Very good deduction mptrades....obviously my statements are not incorrect if another client can recognize the FACTS. All you others who say commissions and rollover swaps are charged by all brokers can now wake up, smell the coffee and go read their page for yourself. I'm pretty sure they are an ECN but not 100% so i guess you are right about that, otherwise all other statements I have made about my broker are pure fact and the people who didn't believe it can now go read up on how truly manipulated you have been.

Now lets see if Dukascopy has the integrity to address my questions about the contest...by the way here is another:

5) How can a prize be awarded for a video that does not conform to contest rules? It has been brought to my attention that a 6 minute video has won a prize when the rules state 5 minute time limit.

In my opinion this can be attributed to nothing more than the true intention of this contest, to use any and all material submitted as they wish for promotional material. My best guess is that the prize pool is simply cheaper than the alternative of hiring a marketing agency to do basically what the contest sheeple are doing for them. Don't be suprised if the next thing you see is content being used when no prize was awarded for it.....also thanks Dukascopy for disabling my blog page...honestly I thank you for that because I am no longer wasting so much of my time with you....but anytime you care to address the problems I have pointed out in your contest feel free....until that time your lack of doing so represents a total lack of integrity in my opinion.

also I never said they do not charge/pay interest on trades, what I said is they do not do it in the form of rollover swaps. You can hold a trade with them for 1 hour and earn/pay the amount of interest applicable to the time period for which the trade was held. What you hold at the end of the day has no bearing on your trading results.

well crazyfkr, i think you don't understand the concept of rollover swaps. i feel you better learn what's it and then reply here. in short, rollover swaps are charged only if you hold it over night. i.e. if you have a opening position at 10.00PM GMT (approx), then you will be charged the rollover swap. it's not the one hour holding position for which the broker charges turnover interest.

Well, about your earlier question :
Do you allow people to participate when you know you cannot open a live account for them in the country in which they live?

First let's understand why few countries don't allow forex.
Some countries don't allow their citizens to fund their Forex account because those people would have burnt the investment as forex is a OTC and there were a lot of scams reported in the past and complained to Central banks (like here in India) and other countries where the country is considered as terrorist state, broker's have been instructed not to accept funds for trading from those countries from their regulators.

By winning the contest, a trader is not funding his account and as long as he makes money and takes the money to his country, the country will earn foreign exchange.

Mind you, opening an account and funding an account are different.

In the past i've seen a lot of traders who fail in trades and are frustrated behave like what you are doing now. you did well last month, then too why provoking?

Incorrect sir. what you are saying about rollover swaps does not apply with said broker. Perhaps you should do your own learning and investigate their page before you simply regurgitate what other brokers have tricked you into believing is the way it needs to be. I have been charged interest on trades and earned it as well but the end of the day has no bearing whatsoever with my broker. THEY DO NOT CHARGE ROLLOVER SWAPS. yes they charge interest on trades but the time of day is completely irrelevant. You pay a scaled amount of interest for the precise time period that you hold a position.

example: I open a positon with some brokers just before market close and upon close I pay an entire days worth of interest...in the form of rollover swaps. With my broker I can open a position lets say 1 hour before market close and if I close that position 2 hours later I pay 2 hours worth of interest....thats it thats all....its really that simple so until you investigate this for yourself there is no point in having a discussion with you because you are only aware of what most brokers shove down your throat so to speak and that is the falsity that rollover swaps are necessary. I fully understand rollover swaps and what they are, and I think the fact is I understand even better than you do because I know how not to pay them.

And in the case of carry trades why should you have to hold a position after market close to earn interest? I can open a spot at 9am on lets say AUD/USD long, close it at 1pm and still earn 4 hr worth of interest. This cannot happen with those brokers who use rollover swaps....you get nothing.

Yes I can make good trades and within a few months of trying would have likely placed in a prize position, my "behavior" is not frustrated whatsoever I simply enjoy a good debate and in this case people stand to learn something...the ones with open enough mind to try anyway. If anything my "behavior" has been generated from pure disgust with the fact that a broker would charge rollover swaps and commission on top of that....while my broker does neither...really go navigate to the page and look for what they call the traders bill of rights. They completely explain their business model and honestly some very experienced traders have told me they learned from reading that page....I think maybe the thing is you do not understand the difference between trading true spot contracts and forward looking contracts. Just because you have a forex broker does not guarantee you are trading true spot....this is what you Sir seem not to understand....with any and all due respect....go learn from the traders bill of rights....they truly practice what they preach in there.

NagarajaAdiga,
You may also be right about some countries but how about for example USA clients who are now forbidden to trade metals in FX markets? No single statement you can make will address the regulations of all countries now will it?

c'mon sheeple wake up and smell the coffee.....interest is not the same thing as a rollover swap. Swaps are simply the most used method of charging interest because it is in a brokers interest to do so IMO. The only reason you believe I am wrong about swaps is that you have never heard of such a thing, while I have been trading LIVE for over a year now with no rollover swaps. THIS IS NOT TO SAY I DO NOT PAY/EARN INTEREST...interest is simply applied more fairly with my broker.

Also you all forget to try debate the fact that I said I receive interest on my account balance whether I trade or not. I can hold a balance for months without making a trade, never be charged idle fees...and STILL get paid interest on my account balance. Does anybody know of any other broker that does this? I do not so if there is another please inform me.

Dear Sir,

Despite the highly provocative nature of your posts and the willingness to contradict to some basic principles of FX market functioning (cost-of-carry etc.), we hereby provide the answers to your questions:

1. Please see clause #7 of the prizes and awarding rules (https://www.dukascopy.com/tradercontest/ ... les#prizes). It clearly states that "If Participant does not have a live account with Dukascopy, then he/she should proceed to the live account opening procedure in a regular way."
The regular account opening procedure presupposes undergoing a compliance check. At this stage the legal department, on the basis of the documents submitted, identifies whether the client is eligible for an account opening.
As you may further read from the clause #7 "If Participant does not comply with live account opening requirements, Dukascopy reserves the right to cancel the cash prize."

2. We are not going to limit the participation in our contests basing on the country because even though a person may have indicated one country in his profile, he may actually be a resident/citizen of another country. Leave alone other legal aspects that can be disclosed only during the actual account application procedure.

Regarding your example with US clients: they are now offered to open an account with our US White-Label partners. This also refers to contest winners from USA.

3. See answer #1.

4. Again, please read the rules before reporting abuses. As you may have read in clause #1 "Other rules and policies" of the FX Video contest, "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."
Since the prize has been successfully attributed to the winner of the FX Video contest, your 4th question is not even topical.

Concerning your question Nr. 5:

As you may have noticed, at the point of FX Video contest's finalization, the number of active participants did not comply to the basic requirements to consider it accomplished - a minimum of 50 participants.
Hence, officially we may have terminated it without distributing any prizes at all. The fact that we actually did offer prizes was our benevolent decision meant to award the efforts of those participants who participated and submitted their materials.

The contest was officially not eligible to be evaluated and finalized. It could simply have been discontinued.

That is why we addressed clause #2 of "Other rules and policies", stating that "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."
Seeing the substantial gap in the quality of the video submitted by the 1st place winner and other materials, we intentionally disregarded the fact that it was 6-minutes long and attributed him the maximum number of points.

Hope our comments are comprehensive enough.

yup. just like I said use content as you see fit for promotional material....change contest rules on the fly or whatever it takes if it can be used as good advertising.

Use any content as you see fit if it makes good promotional material. If there were no videos good enough for you to use it surely would have been discontinued, thank you for supporting my argument, although I'm sure that was not your intention...just what would it cost a professional marketing firm to develop promotional videos? what is the prize pool again? lol

furthermore, I was not trying to point out "abuses" as you say, more like I am pointing out what I feel is the true intention of the contest, and your rules and reply to me only substantiate my comments in my opinion. Of course you have set the "rules" so that you can manipulate results as you see fit....just what does that marketing firm cost again?

Organizing a contest with some rules and then cutting prizes and disregarding all the rules just because you have the "right" it's not only unethical but also illegal. In my country this is a serious crime and a petition to the consumer protection would have serious consequences.

funny how as soon as I mention it in forum the retrieve password link magically works again on my blog page. Until today the submit button on password retrieval link did nothing at all, it was as if there was no button there whatsoever.

Dear support,

I have same thought as DumbAsArock.

I have long observed that the maximum allowable S/L, for example, for Eur/Jpy, ± 254 pips is insufficient for mid to long-term trading, in case there is surge due to some news, which usually move the pair more than 290 pips range like yesterday, even for trade position using low margin would still be disadvantageous, i.e. loss in pip points. Therefore an increase to maximum allowable S/L range would be reasonable for mid to longer term trading.

Thanks

hello,
if price goes in your direction, you can enlarge your TP!
you can always enlarge your TP as long as it stay within 2% or so from current price.
so if short EJ 127.00 tp 250pips once price reach near 125 you can enlarge tp to 123.50. once reach 124 you can enlarge to 121.50. once reach 122.00 you can enlarge to 119.50. just to see price reversing straight to 127 again. LOL.
just my view