Forex Live Contest
Forex live contest is the largest offer by forex brokers for only real and experienced traders. There is a good chance to win millions of dollars, cars, luxury trips, flagship phones, MacBook, and more!
It helps to grow up your trading skills, show your talent and win big prizes! This contest is only for professional traders who have good confidence, self-control, and money management strategy.
There are many forex brokers offering more than 100 000$ prizes, forex traders have a chance to win more!
How does the forex live contest work?
It's simple. forex broker will give you the all terms and conditions which are only for real forex market participants.
Most forex Contest registration is free and it takes less than 1 minute of your time. You just need to make a deposit to start trading.
Advantages Of the Forex Live Trading Contests?
As forex traderscontending in forex live challenges, there are sure advantages for us regardless of whether we win -
As forex traders, we've all accomplished the excitement of a live forex challenge and the cutthroat soul it envelops. Forex live exchanging rivalry allows you to contrast your forex trading ability and the other forex dealers all over the planet.
Other than the everyday customary exchanges, you likewise have an opportunity to win prizes as well as a growth opportunity. This gives you more inspiration to exchange cautiously and work on your forex investment growth.
This is an incredible chance for you to measure yourself as a merchant at the present time and contrast yourself and the remainder of the forex dealers out there.You can also take this opportunity to test different strategies and ideas and apply them in actual forex market conditions without taking too much risk involved due to the higher prize value at stake. At its initial stage, Advice Forex Contest will assist forex brokers' clients.
Trading against other opponents pushes you harder
When you're alone trading forex without opponents, your efforts aren't exactly being tested. You can do as much research as you want to perfect your strategies but when there are no opponents to challenge you, it's just not the same. Facing off opponents makes your strategies stronger because they'll be pushed hard by other forex traders before they make their way onto the real market. So this means you have to work harder too.
Live Contest Has a Positive Impact
Like many other individuals, you may have got had an interest in taking part in and owning your individual online foreign exchange stay contests. After spending a number of hours learning the ropes of the sport together with making a bit of cash to speak of during its early levels, you want further monetary advantages and recognition that comes from having fun with these contests. Owning by yourself or with different gamers is new and thrilling however there are numerous choices that will add excitement and interest to playing them for you.
How to Win a Forex Live Contest
In forex live contests, forex traders pit themselves against one another to see who can be the most successful forex trader. Participants will usually put up a certain amount of money as a forex live contest entry fee and then try to earn as much as possible of their account within a specified time period. The forex trader with the highest return on his or her account at the end of the contest wins.
The rules for forex live contests vary from site to site, but often there are a number of action items participants have to complete in order to win a forex live contest. These might include trading a minimum number of lots during each week or taking part in webinars or other activities that help promote better trading.
Select a good forex broker
When selecting a forex broker, forex traders should be aware that aside from the forex trading platform being offered by the forex broker, forex brokers may also offer additional services to their clients. While choosing a forex broker, forex traders need to know what types of services are being offered so they can decide if these additional services are beneficial or not.
Forex Broker Offers Additional Services to Clients
When selecting a forex broker, forex traders should always ask if the forex broker offers any other services aside from the forex trading platform. Generally speaking, brokers do not charge additional fees for opening an account with them and using their platforms even though there are some exceptions to this rule.
Use a successful trading strategy
The most important thing to win a forex contest is a good trading strategy. Don’t start with a bad or newly generated trading strategy.
If you don’t have any proven one then better keep away from participating in live trading contests. It’s a highly risky game! You have to compete with the most successful traders who had good strategies and trading for a long time.
Control your emotion
Trading with too much excitement is not good. More than 80% of people’s loss on trading. And from research, we got that more than 50% of people can’t keep their emotions under control. Controlling your feelings while trading forex can distinguish the contrast between progress and disappointment. Your psyche state fundamentally affects the choices you make, especially assuming you are new to trading, and keeping a quiet attitude is significant for reliable trading.
To use forex money management to consistently gain profits, we must sustain our capital and not let it dwindle to zero. If forex money management is done right, you can survive in the forex market for decades.
The forex market has a lot of risks involved in it; it is important for all forex traders out there to learn forex money management techniques that will help them make their investment last longer. Although forex trading seems like a sure way of making a profit in the beginning levels, many times beginners end up losing because they don't approach forex in a systematic manner and lack forex money management skills.
You need to bring into play risk-reward ratios when you trade in the forex.
Common Rules of Live Contest
The rules or terms and conditions vary from broker to broker. But there is a common pattern to join and perform in a trading contest.
Time period –
All contests come with a time period. It could be daily, weekly or monthly basis. All details you will get on the broker website.
Championship Prizes –
Forex contest comes with a lot of fun. Almost all traders participate in a contest to win prizes. But sometimes it goes tricky! The broker sets some different conditions to meet the prize.
The contest will calculate each contestant’s “%Portfolio Return”.
The common rule of a contest is, the highest %Portfolio Return will be the winner.
Also, there are minimum deposit amounts to participate, trading pairs, country, EA’s, leverage, spread and some common factor that as a trader I hope you know.