It seems the Stop Loss and Take Profit parameters are designed primarily for lower time frames. All the daily orders I've executed have been compromised by these restrictions.

In other words I've taken the maximum SL and TP allowed, but when I enter a trade some distance away from the current price the SL/TP levels do not reflect what I trade on my live account at Dukascopy. It's not even close.

Ironically, the contest is supposed to reflect real life trading. However, judging by the imposed restrictions it would appear the contest is designed for one hour or less time frames.

Any chance of extending the levels if you enter the trade on a higher time frame?

Thanks.

My opinion would be that using a percentage of equity(based on lot size) would make far more sense than some silly price restriction. This is the way smart people trade larger timeframes, smaller lot size with wider stop to keep risk equal.

The original idea of the Contest was to test the ANALYTICAL SKILL of a trader than a mere trading skill which reflects the real trading environment. so they imposed a restriction of 2% sl and tp range in order to discourage traders from just placing the trade and hoping the position to turn positive or maximize by the end of the month.

After taking the contestants requests and demands, now they are relaxing the rules one by one. so, may be in a couple of months, you may see a lot of changes which may eventually look like real trading environment.

but, if you really want the contest to be in a real time environment with out restrictions, i advise you to open a real a/c with $1000 and trade with out restriction for "TRADER OF THE MONTH" contest in real account.

nice thought but never will I pay rollover swaps. It is an indication of: 1) trades may not be settled instantly and 2) not true spot contracts. I trade real spot with my ECN broker and never pay rollover swaps or any other type of fee besides spread.....period....no commissions, no deposit/withdraw fees none of it. Not sure why i bother to type this I'm pretty sure only forum moderator ever sees it...just another form of manipulation

It seems that you do not correctly understand the nature of rollover swaps. For more information - https://www.dukascopy.com/wiki/index.php ... Management

Quote: "I never pay rollover swaps or any other type of fee besides spread". Right, because the commission is already included in the spread. Besides, the nature of rollover swaps itself testifies that it is not a commission. It is an adjustment for base rate differences when holding a currency pair overnight. Hence, you can both pay and earn on a rollover swap.

By the way, Dukascopy does not change any deposit/withdrawal fees.

Correctly presented reasoning and observations.

I don't know what kind of junk you're talking. But how exactly does your ECN broker make money if they don't charge commissions and how the hell can they not charge swap? Your ECN broker is probably NOT an ECN.

CrazyFkr, your broker let you win money for free ?
You really know you can find really free services in the world ?

actually I do use an ECN broker there are a few. As far as how they make money it is ONLY the spread with FX trading. The only reason I did not mention the name is because I am in another brokers forum but if you really believe I am lying you need to be educated. You may know trading very well and I can see that, but you do not understand the market and market makers as well as you think you do.
Also my broker was one of the first to offer online FX trading(2001) and have been a business to business ASP provider longer(1997). They are also involved with global money transfers so trading is really only a part of their business and not the part that came first.
Just try prove me wrong, by what I just said you should easily be able to figure out which broker i mean. The very fact that you doubt my words indicates to me you have been manipulated by a broker, or just accepted what you have been told...do some homework I challenge you to prove even one thing I said is incorrect.
Furthermore they boast the largest percentage of profitable clients of all brokers, this is a function of their integrity in my opinion.

Not one word I said was a lie and again i stress...yes I am talking about a live account. Also I feel it is important to note that my only relationship with this broker is as a very satisfied client. I do not have any other type of affiliation with them.

I commend the forum moderators for posting my reply as it was the last thing I expected, and with their approval I will gladly make known of who I speak and offer literature to back my words.

Just go on the website of the broker you're talking about.
Then click on "Why ...."
Then "Quality Execution, Instant settlement"
Then just seek for "market-maker"


The proof is done

Hahahaha. Good one.

why would you confuse market maker with dealing desk? get educated

exactly my point, I trade FREE of all costs/fees except the spread. you need a clue, the reason the contest exists is to sucker you into an account where you PAY FEES

what is the difference between a market maker and a dealing desk? clearly people in this forum are not aware and think market maker is a bad thing. Let me guess... you think a dealing desk is a good thing.

i tried but if you all insist on being sheeple nothing more I will say because I really dont care that much about any of you.

When you trade stocks, there are one price show, but in the order book, you can see the bid and ask price.
This is a spread.
But I do not know any broker that let you trade stocks for free.

So you mean to say your broker is a non-profit organization? Gee, I didn't know such brokers exist.

i said nothing of the sort. you need to learn to read I said they charge spread. And the fact that you didnt know such a broker exists means you are manipulated IMO and you need an education. By the way get your prize yet?

furthermore, I issued a challenge to Dukascopy for them to allow me to name this broker of which I speak. If they have nothing to hide why have they not told me it is ok to name them and provide links which back up what I am saying?

C'mon administrators what are you hiding from? Cannot seem to find another discussion in this forum without your input why is this one so different?

Also I never said I do not pay/earn interest on trades what I said is it is not in the form of rollover swaps. I never said the broker works for free I said they charge spread only.

Also why does Dukascopy allow contest participants from countries that they cannot legally allow people to hold a live account from? Do they state this up front when people join a contest? or do they still use you as promotional material even when they know they cannot open a live account when you win?

There are so many questions people have not asked themselves but I suspect a few are finding out the hard way.

rahulghosh,
cannot help but notice you are not in the standings for new contest...did you get your prize yet? have you even heard from Dukascopy yet regarding your new live account? lol

We are responding to Contest-related or technical questions. The majority of the posts in this thread are not related to the topic of the forum. Hence, we left it for discussions between participants.