I believe, that this Trading Contest is made for traders, which wants to get ready for live account trading. But as I see this Contest, we have some limitations that will not contribute to this goal.

Limitation is, that we can not set SL or TP further than 1,17 % or something like this from our entry price.
This limitation is extraordinary, because in live trading we can set SL and TP where ever we want. I think, that it would be more meaningful, if we could set SL in accordance to our Balance. This means, that we can not make more loss with one trade than 3 or max. 5 % of balance. TP should de without limit.
I don't know anybody that would be able to make 100-1000 % profit returns in one month. On this contest we have some examples of even higher profit returns. Nobody is making constant profit every month.
What kind of Money Management (MM) is this, that you trade 5 MIO with 100,000 $ Balance. That's gambling! If I'm lucky, OK, otherwise I'll try next month. We are forced to trade against common sense rules of Money Management, otherwise we have no chance to be one of top 10.
A great deal of traders is in positions with negative risk/reward (RR) ratio, even 1/10. Example: 20 pips TP and 200 pips SL. Are we kidding someone? I would like to see someone who is trading like this on his/her live account. AGAIN! That's gambling! If I'm lucky, OK, otherwise I'll try next month. I suggest to limit RR to at least 1/1. We can solve this problem with limitations for MM.
Points for popularity has not achieve their intention, and there is constant abuse. Most of comments are: Good luck, wish you…
Rarely someone comments trades like this should be done. A suggest the abolition of those points.
Because I feel that this contest could and should prepare traders for live trading, I feel that this listed proposals would contribute to this.

Best regards.

Hello Milani,
I believe you can move your TP after the price goes to your direction.
Some traders put reward/Risk 1/5 or 1/10 when they are scalping.
For me a reward/risk beyond 2/1 is already risky, an then comes in Money Management, lower the volume of the trade.
I personally try to comment only on the Trades , with Analyse ad Personal View of the Market and Market conditions.

I agree with your Demands,
Good luck in the contest,

Doctortyby

Completely agree with Milani. In my opinion DUKASCOPY should change current SL limitation to 2% - 3% of opening price to all pairs or adjust SL equally for all pairs based on some percentage of average weekly volatility. This would allow to open trades based on daily chart (weekly would be too long for the contest of course). At current limitations most of the pairs are problematic to trade at that scale.

One of the best ways to stop people from commenting "good luck" etc, is just to ignore them and then favorite the traders that comment and post reasonable posts.

Hi Milani ! you are spam king n cheat pending order with 50 pop piont

I agree. We should be trading and writening articles, not looking for popularity. Waste of time. Money management has no meaning in this contest and I think it looks stupid to congratulate someone who nas made 500 % in one month. Elvis is still alive!?

And for all winners of contest, you should swich to live trading and be banned from further contest. But I think you are not so good in live trading, so you stick to this contest.

In hope of best interest of all contesters, best regards.

Firstly the contest imposes crazy rules. In real trading most traders scale into and out of a position. Good traders build into a position over time adding and taking off positions as they go. In this contest its not possible.

It is a contest with crazy rules but we all suffer with the same rules, Some of the traders know how to manipulate the rules legally and those of you that watch the good traders will see how they do it. Its not cheating as we can all do it and its in the rules.

One of the contest winners, wins because he has a system and he controls risk, he takes prizes because he applys a strategy, you can all look at what he does it takes time and patience and knowledge. I learnt from him, we all can learn. I don't care if he wins again its telling me I have to improve. Trading is a sport where those that know take money from those that don't. One way or another you have to either learn this business or pay to be taught.

Personally I think the winners are good traders and if they win every month then you have to become a better trader then they are to win. Its no good crying about it, and saying "ahh they are too good I will never win". Become better, learn to do what they do and become better.

If you want an easy life with no stress then trading is not for you, take up gardening and get a pair of slippers. Trading is a dog eat dog world, there is no grey there is only success or failure, no inbetween. Sure its tough but if you master it then you are made for life, its worth the struggle.

Well, this is my week in the contest, and in my first few days I would have agreed. Almost took to writing a forum post myself. It dawned on me, however, that this is a game. I can't trade my contest account like I trade my live account, and I cant trade my live account like I trade my contest account. I find myself having a lot more fun with the contest now. Over trading, and enjoying it. I plan to try out some radical strategies. It's nice because here, you're held slightly more accountable than if you just open a random demo with a random broker, but at the same time you are not risking your actualy equity! The prize money is just icing on the cake, and I reckon it will pretty often go to a with an average 88k monthly equity. Thats cool with me.

I think the concept of popularity is pretty sound. I just wish that our accounts were linked to facebook or something similair, so that if you want to get to know and interact with a trader as a person, you can, rather than "fellow contestant qqqr4." This would also help prevent any abuse. I joined the contest in hopes of finding some like-minded traders, with an outlet and a sort of gauge for their performance as well. If someone wants to make outlandish claims about their performance or a system, they can put up or shut up in the contest, and if it works then lets talk. Instead I browse the forums and see just a whole lot of skytrader (not an attack on you buddy, but you do have a pretty active presence here) either attacking or defending some random guest account. Not cool.


Anyway, just my 2pips.