Best way to learn is through Demo Contests
Thanks to update us regarding Demo Contests. What are the conditions to withdraw win prize?
Yeah, demo contest is the best place to get money without real risks. But if we wanna be a winner, we have to effort, because demo contest is tight competition. InstaForex, my broker also hold several demo contest, may be you are interested to take part in those contest.
Demo contest is the best way to make real currency while trading with virtual currency without any risk of losing hard earned money.
Demo contest is the best way to make real currency while trading with virtual currency without any risk of losing hard earned money.
That's right. Demo contest is the best way to learn and get trading experience too. And it's suitable for beginner because there's no risk here. InstaForex is one of broker which hold several trading contest for their trader. You can check here.
I beg to differ. Demo contest is usually focussed on how quickly you can build up your equity. This is not the right way to learn forex trading. Sooner or later you will get into the competitive feeling and end up making bad decisions.
They are good, for testing EA (if the demo contests approve such use) or indicators.
Remember, forex is not about getting rich in a month, its about producing steady winning trades and not rush up.
jb1981, could you tell details. Now I use demo contest and wanna to win. But I didn't get the sense of your last words as to equity. Why it is difficult to win using for example scalping?
jb1981, could you tell details. Now I use demo contest and wanna to win. But I didn't get the sense of your last words as to equity. Why it is difficult to win using for example scalping?
Well if your trading style is more suited to scalping then maybe you can win a demo contest. I mostly trade 4 hour and daily charts, so my entry happens not that often.. same with exits too.. trade can last for quite a few days.
Demo contest is suited for intraday scalping... it is in my view increases the risk of losing much more compared to swing trading.
Beside demo contest, demo trading is also the right place to learn trading. But if we take part in demo contest, we will get other advantage, we get chance to win the prize, not only to learn, test trading strategy. Unfortunately, so far i never won demo contest in my broker, instaforex.
you should choose demo contests carefully. Stay away from the contests that allow use of EA's because if you don't have a good EA, then the odds are against you. Best to choose demo contests that allow only manual trading, this way there is something you can learn and also potentially win the contest.
My broker, Roboforex offers monthly contest and a one day contest (starts every Wednesday morning and ends on thursday).
you should choose demo contests carefully. Stay away from the contests that allow use of EA's because if you don't have a good EA, then the odds are against you. Best to choose demo contests that allow only manual trading, this way there is something you can learn and also potentially win the contest. My broker, Roboforex offers monthly contest and a one day contest (starts every Wednesday morning and ends on thursday).
Daily contest, it seems quite interesting. May be you can take part in FX-1 Rally. this contest is held among demo accounts each Friday. The weekly prize pool is $1500.
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Best way to learn is through the rush of the demo contest with the security of not loosing any real money!!!
Heres a contest I eneterd
Tradingforex- The total prize fund amounting to 15,000 USD is distributed among the threewinners in the following proportions:
FirstPrize – 10,000 US
SecondPrize – 4,000 US
ThirdPrize – 1000 US
Pleasenote that it is not allowed to put forth more than one contest account. Suchcontestants will be disqualified.
Thecontest starts at 08:00 AM GMT, February 11th and ends at 20:00 GMT on March11th.
Within thecontest the leverage ratio will be set to 1:500
All openpositions will be automatically liquidated at the close of the contest.
Allmembers will begin with 100.000 demo credit
It isrequired to specify your real Name and Surname plus valid phone number upon anyregistration.
The threecontest winners are those contestants with the highest rate of return duringthe contest.
The prizemoney will be credited on the winners’ trading accounts. After the contestresults are announced