I see it was weekend margin, great strategy, I cannot see the point in opening a position in the opposite direction, it would make far more logical sense to close part of the position to remain within margin requirements. Opening a diametrically opposite trade is foolishness.

Hello. I opened 1 position (SHORT) with EUR/USD on Friday evening and left it opened for weekend. Now I see my position and another one (LONG) also EUR/USD. It has neither SL nor TP and I don t know how it was opened and why, as it is impossible according to the rules.
Could you please explain or fix it? I have a Print Screen if required. Teneres_sa

Hello. I left some positions opened friday from sunday. Two of them are with "opened" status, but they are not on the plataform. Also, a position that my TP was hit is still open on my blog.

Is there any problem?


Thanks

heven_

So I guess I must add a limitation in my strategy to close all trades when they reach 25% profit?

Please refer to the rules: "Only the participants with real positive increase of capital can be treated as contest nominees."

There are no issues in the system. Please familiarize with the margin policies and over-the-weekend leverage (https://www.dukascopy.com/swiss/english/ ... ts/margin/).

The counter position was opened automatically following your disregard of the over-weekend-leverage, which enters into force every Friday at 18:00 GMT and constitutes 1:30 (instead of the standard 1:100).

I mostly enter and exit positions at market depending on the indicators i follow and don't trade on pre defined TP and SL.

Am I supposed to let the TP and SL defined earlier to initiate even though the indicator changes signal?

Why averaging positions is not allowed?

Please see the margin requirements' description: https://www.dukascopy.com/swiss/english/ ... ts/margin/

Contest accounts are subject to the same margin requirements as regular Demo and Live accounts do. The weekend leverage has always been applied to these accounts, on Fridays, at 18:00 GMT.

Opening an opposite trade is in fact the same as closing it partially (the trader may simply merge those two this attaining the same effect). Opening counter positions instead of closing existing trades is also justified by the fact that the JForex platform is functioning in hedging mode.

Yes, setting predefined SLs and TPs is indispensable in this contest. In fact, you cannot avoid it when passing your trade. The contest is tailored for reasoned, analytically-backed trading, which presumes the setting of your expectation levels (SL/TP).

Averaging positions is not allowed for numerous reasons. Those include both the algorithm of pips expert calculation, avoidance of cheating and the general purposes of the contest.

after the first month of the competition , things are more clear now. I suggest a small place on top on any traders profil, to explain in a few words his general plan, tacticks and/or strategy. Also please consider the option of trailing stops..Thnaks and i am sure the second month will be more exciting, knowing all new rules now, having tested the platform and the tactcs as well as how DuckasCopy points will be given.

For the next contest, maybe Dukascopy can considering the change of "stop loss" just in one direction, which is closer of the entry price, and just block the change of stoploss in the direction to enlarge it. This way we can put the stop on breakeven, for those who trades this way. Many trades that I did would be stopped out on breakeven if i could just move my stop closer of my entry price.

This behavior is very wise and improves a lot my results on my live account, and it would be nice on the contest too.

regards,

heven_

Dear Duke and heven_,

Thank you for your valuable thoughts. We are open for proposals and strive to remain flexible with the account in order to keep it dynamic and interesting. Hence, ideas are welcome and we do consider them for future updates.

Dear Support,

can you please elaborate more on how the pips expert points are computed?

My idea was: algebraic sum of gained/lost pips, taking into account the conversion rates. Then points are attributed depending on the standing among all contest participants (100,95,90, 89, ..., 1).

Is this correct? When are new lost/gained pips updated? Daily?

Specifically to my position: can you please check whether my score at the moment (0 pips expert points) is correct?
My algebraic sum of all pips should be positive: do I have to assume that even to get 1 pip expert point we have to score many pips?

Thanks in advance and happy new year.

1st of all I was in 4th in pips expert both next time I logged in I was in 1st place. I understood how pip experts points is calculated but I dont know how many points I have got. It will be useful if pip experts points of traders are given in own page next month.
And some questions about popularity.
Why popularity is rated in this contest. I have 85/100 in performance and 100/100 in pips expert and only 4/100 in popularity and im in 13th position overall.
What else can I do to win this contest?

Hi there,

when i save my workspace, i loose it when i re-log in.
any idea

The purpose of the contest is not to merely reward pure performance. The balance performance is not going to be the main determinant in this contest because we do not want traders to blindly risk with their demo deposits in a struggle to get in the top places.We want them to be wise and act as if it was a real deposit. Moreover, we want them to justify their actions, demonstrate their analytical capacities, to maintain reasonable risk/reward levels, not to rely on pure luck. That is why performance accounts only for 25%.

Popularity is very important. Building a community around the contest (not only the Traders contest), making it more dynamic and attractive both to participants and followers is one of our primary goals. This is why we are encouraging participants to spread the information about the contest and their participation in it. All the more that attracting more people to your profile page directly affects your popularity rating. Commenting your trades additionally to the compulsory 200 symbols, justifying your activities, posting links to your profile page on external internet resources and inviting your acquaintances interested in Forex to follow your activities/blog, participate in the contest or take part in the discussions is a direct way to increase your “Popularity” index. Moreover, this goes exactly in line with the aspirations of Dukascopy Bank to elaborate an attractive Forex Community, which would unify people interested in Forex under a professionally-focused dynamic environment.

Right you are in your understanding of the pip expert points calculation.

Currently the pip expert points are updated twice per day. Possibly, later the frequency will be increased.

There is no "threshold" limit after which one receives pip expert points as they are awarded on a relative basis and depend on the points gained by other contestants. Hence, it is indeed right that merely having a positive balance of gained pips may not be enough to get even one pip expert point.

Take profit and Stop loss levels should not exceed more than 2% from the opening price for EUR/USD.

What does this mean?

You can't get into a trade where you win more than 2% of your account?

Dear Support,

Thank you very much for your prompt response and clear explanation.

May I take this occasion to wish you and all the other members of this growing community a
happy 2011.

Take profit and Stop loss levels should not exceed more than 2% from the opening price for EUR/USD.

What does this mean?

I start in the contest in January, but I'm not sure what this is?

Thanks!