The key point at any trading contest should be low risk profitability but not maximum trades counts or trading with EA. MT4βs and programming language MQLβs automated trading is a dream come true for so many people. Their complex order capability allows traders to write scripts for automated trading and self-developed forex indicators, as it supports algorithmic trading. It is possible to have dozens or even hundreds of different orders running at the same time in the same MT4 platform which you can keep your normal job or other business activities running while your robot automatically trades for you.
[quote=Demo gOD]Are there any stop loss size/lot size limits or restrictions?[/quote]
Hello Demo God, there are no particular limits to your entries or stop losses, other than what is allowed by your margin and leverage.
All the contest rules are detailed in this link: https://www.cashbackforex.com/contests/44?tab=contest-rules ; as a general rule, everything not specifically forbidden there is allowed.
The key 4 rules for this contest are: 1) Keep each trade open for at least one minute 2) Only the first 60 trades count for the final result 3) Don't let your equity drop more than 20% of your peak equity (the peak is calculated including open trades) 4) Only FX pairs, other symbols do not count for your final result.
Hope this information helps, let us know if you have any other questions.
[quote=mahirn ]The key point at any trading contest should be low risk profitability but not maximum trades counts or trading with EA. MT4βs and programming language MQLβs automated trading is a dream come true for so many people. Their complex order capability allows traders to write scripts for automated trading and self-developed forex indicators, as it supports algorithmic trading. It is possible to have dozens or even hundreds of different orders running at the same time in the same MT4 platform which you can keep your normal job or other business activities running while your robot automatically trades for you.[/quote]
Hello Mahirn,
You are certainly right, and we appreciate you sharing these comments with us.
Even though we agree with your perspective of how real trading should take place; our data shows most participants on our demo contests are new to the Forex market and place their trades manually. We established a limitation to the amount of trades per contest to keep the competition interesting for everybody. otherwise, a very limited amount of experienced traders with EAs would predominate all contests, which would reduce the amount of competitors from more than 2 thousand to maybe a few dozens.
With that being said, we have plans to "evolve" our contests in the near future and we expect to include different categories, allowing EA traders to participate in a more competitive environment, among other changes. We expect to execute these modifications throughout 2023.
We hope you find this information interesting, any feedback you may have is most appreciated.
Just a quick update regarding some questions about the contests next year: Yes, we will carry on with our super duper demo trading contests in 2023. No, the next contest will not start January 1st 2023, as market liquidity will be very low.
We are currently studying the start date for the next contest and also considering adding something new and exciting!
Please stay tunned to our forum and our Telegram group, and make sure to enable notifications on your profile. As soon as we have a fixed date for the next contest(s) it will be posted on our official communication channels :)