The competition still has 14 trading days left. Good luck to all participants.
Hi
Our Forex trading competition is progressing very well with good results being reported for all 14 Expert Advisors. As notified in a previous newsletter, the competition has been extended by a week to 2 February 2019 and the up to date results are available at this link:-
https://www.expert4x.com/comp19/
We have been reviewing the trading results and the trading activities of some of the competitors in the competition and we are concerned that they are exposing themselves to potential disqualification. There is still just under 3 weeks left in the competition so there is enough time to resolve this.
As there is a considerable amount of cash involved we want to give an early warning of where these rules have not been followed, rather than after the competition which would be too late.
The detailed competition rules can be seen on this link:-
https://www.expert4x.com/14-forex-trading-competitions-with-30-000-in-prizes/
Rule 13 requires that you notify Mary McArthur of all your competition names and your email address BEFORE you start trading. Luckily, 95% of competitors have done this. If you have not done this, your results will not be eligible for prizes. You can still start new entries but remember to comply with this rule.
Rule 8 allows 5 entries per competition – many competitors are exceeding this limit based on their licenced EA activity. This is one of the many reasons rule 13 is in place.
Rule 7 requires you to continuously and actively trade your account for at least 2 weeks on the 10-week competition period. Many traders have only placed a few trades with large lots over 1 to 3 days and then stopped trading. The EA has to be actively traded for 2 weeks – our licencing process monitors this activity. This will be a basis for disqualification if your EA has not been continuously and actively traded for at least 2 weeks. After all, the competition is about identifying trading skills.
Rule 11 Just a reminder that participant can only win 1 prize per EA competition. You have to be in the first 3 positions of the competition to win a prize.
We will audit all the winners at the end of the competition. It is your responsibility to make sure you have complied with the rules of the competition when you apply for your prize. As always, if in doubt, please ask for clarification now, rather than when the competition is over.
Everything of the very best for the rest of the competition.
Kind Regards
Mary McArthur
Expert4x
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