Forex Trading Contest

steven evans By steven evans, 11th Nov 2013 | Follow this author | RSS Feed
Posted in Wikinut>Money>Forex Trading

Winning in forex trading contest is not only about the prize but also to test the trading skills. So taking in trading contest will be a good way to test the trading strategy.

What Is Forex Trading Contest

Forex Trading Contest is a contest for forex trader to test their ability to make profit in forex. The goal in this kind of contest is to make a lot of profit as much as they can. The winner will be the one who can make biggest profit in their trading account. The winner of trading contest usually will be awarded with big prize like $100 or even $1000 when they get the 1st position in trading contest. In some contest the trader who get 2nd and 3rd position also will get the prize too, depend on trading contest provider.

Since mostly it will use demo account, the participants don't need to worry about margin call or stop out. They will just getting eliminated from the contest but at least they won't losing any money. By participating in this kind of forex event then the forex traders will have an opportunity to make big money without using any money and they only need to work with their trading skills.

How to Win Forex Trading Contest

The ability, trading strategy and also analysis will being tested during this contest. Making profit from trading is the key to win the contest but it's not that easy because the winner will be the one who can bring the highest profit among the participants. SInce the competition is very tight, then in order to win the amazing prize, often the traders will try to use scalping trading method. This trading method can give big profit within a few minutes, but it also have a big risk because if they are failed with having a wrong prediction in market then they will out from the contest.

Preparation will be important during forex trading competition. Usually the winner is the trader who can being patient to wait for a good entry when forex market price moving. Just wait for a good entry and never make any speculation since your target is not only to make profit but also to get the highest profit. If it's a daily trading contest then you don't need to being sad after losing the contest, just participate again tomorrow. If it's weekly trading contest then you can also wait to join the new contest next week too, just try to learn from the mistake so you can participate in the next contest with better trading skills. Unfortunately for monthly trading contest then you will need to wait for longer time especially if you failed in the beginning of contest, so just trade slowly if you don't want it happen to you during the competition

Win The Forex Trading Contest

Always learn from the mistake which make you lose in the contest, if you did it then someday you can be a winner of forex trading contest. Do you know, when you win the contest then it means your trading ability also increased and it means you can also implement it in real trading account so you can make a big and consistent profit.

When you win any forex contest, you will get some money and of course it can be used as an initial deposit in forex trading account so you can start to make profit in forex without using the money from your pocket.

By winning the trading contest especially if it's international trading contest then you will also being famous. If you are lucky then someone will contacting you and making a deal with you, usually they will ask you to trade with their money. It can be a good opportunity for you especially if the amount of deposit is big.


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just an ordinary man with an extra-ordinary mind.

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