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Resolve
07-19-2012, 11:16 AM
Forex-competitions, where lots of people participate, are becoming more and more popular. How to win there? What a strategy you’d better choose for successful trading? What advices could be given to newbies?

All that information and even more (for example, what encourages traders to participate again and again) you will be able to find in this topic where we will constantly publish interviews with winners of ForexCup competitions.

Resolve
07-19-2012, 11:17 AM
«PAMM Master 5000» a three-month traders competition for demo accounts has ended. Trader GoldDen was lucky to clinch the first place in this tough contest. The winner increased his starting capital by 701%! Golden was awarded the opportunity to become a manager of a PAMM ECN account and received a real money prize worth of $5000 as investments into his newly-opened PAMM account.

We have asked some questions to the winner

- Could you please tell us some words about yourself.
- Thank you. I live in the wonderful city of Samara. I have so many interests that it is obviously impossible to enumerate them right now.

- How long have you been trading Forex? How did you start to trade?
- I have been trading on Forex market since 2005. After visiting one of the seminars it seemed interesting to me, and so I started to trade.

- How long have you been participating in FXOpen’s ForexCup competitions? Do you participate in any other competitions sponsored by other brokers at the same time? How did you learn about the ForexCup project?
- I have been participating in FXOpen’s competitions since October 2011 and I learned about the project from the invitation to the competition. Sometimes I participate in the competitions of other brokers, too.

- What benefits and drawbacks can you point out, how can we further improve ForexCup?
- The only thing that leaves much to be desired is connection failure that I hope will be improved soon. For the rest all is remarkable.

- Is Forex trading and participation in the competitions is your primary income or it is just an additional hobby?
- Yes it is my primary income.

- When did you realize that you started to win the competition? Describe your emotions at the moment when you became the winner of the competition.
- I realized i will be the winner, when some hours before the end my nearest rival lost somewhat all of his deposit. With the volatility that was at that moment in the market, I was almost unreachable. It is always a pleasant to win and furthermore in the long-term competition.

- What is the secret of your successful trading? What helped you to win?
- The secret is in the trading system. I do not know whether it is permitted to place references here however I was the listener of the academy of trading.

- How do you plan to dispose of the prize? Is it your real aim to become a manager of a PAMM account or the financial prize that you can dispose of in your own way is more attractive to you?
- A part of the prize has been withdrawn, a part has been invested. Even if all the prize could be withdrawn anyway a part of it would be invested.

- How do you plan to celebrate the New Year?
- I am an active person and I will spend a New Year's eve visiting my friends and relatives)))

- Could you please give some advice to all traders and participants of the competitions on the threshold of 2012.
- Always follow your trading system that is the main thing to my mind. Thank you for attention and my congratulations with the coming New Year. Wish you good luck and good profits in the new year.

Resolve
07-19-2012, 11:18 AM
In April FXOpen launched a monthly Forex trading contest FX Market Masters APRIL. 831 joined the contest and competed for the main prize – the opportunity to become the manager of a PAMM ECN account with manager’s capital worth of $1020.

Trader Hathana (from Jordan) won the first prize. The winner increased the starting deposit ($5000) up to $29379.

Hathana kindly answered some questions for us and shared her thoughts on Forex trading and ForexCup contests.

- Could you please tell us some words about yourself.
- I am a 36 years Jordanian female living in Amman. I have 3 kids

- How long have you been trading Forex? How did you start to trade?
- I am trading forex since 3 years. I knew about forex from advertisements.

- How long have you been participating in FXOpen’s ForexCup competitions? Do you participate in any other competitions sponsored by other brokers at the same time? How did you learn about the ForexCup project?
- I learnt about ForexCup project through one of my friends where I won many times.

- What benefits and drawbacks can you point out, how can we further improve ForexCup?
- Regarding the monthly competitions: It is better to increase the max number of orders at the same time to 10 orders and to increase the leverage to 200. Regarding the weekly competitions: It is better to increase the max number of orders at the same time to 5 orders and to increase the leverage to 200

- Is Forex trading and participation in the competitions is your primary income or it is just an additional hobby?
- Forex trading is a main income. Participating in competition is an additional hobby.

- When did you realize that you started to win the competition? Describe your emotions at the moment when you became the winner of the competition.
- I realized that I will be one of the winners in the 2nd week. I was very happy when the results were announced.

- What is the secret of your successful trading? What helped you to win?
- No secrets. Technical analysis.

- How do you plan to dispose of the prize? Is it your real aim to become a manager of a PAMM ECN account or the financial prize that you can dispose of in your own way is more attractive to you?
- The future will determine this issue.

- Could you please give some advice to all traders and participants of the competitions on the threshold of 2012.
- Don't ever give up.

Resolve
07-19-2012, 11:18 AM
A 33-year-old female trader from Moldova wins a Forex trading contest in May and gets the chance to manage a PAMM ECN account with the balance of $1020.

Each month FXOpen launches a Forex trading contest to choose the best traders for the position of an ECN PAMM Manager. In the most recent monthly contest FX Market Masters May, a trader under the username WWWW won the first prize and the chance to manage a PAMM ECN account. It turns out the winner is a female trader from Moldova. She came a clear first out of 666 participants. The winner increased her starting demo account balance from $5000 up to %52710. And her profit was 945%!

Was there a secret success strategy behind this amazing win? We contacted he winner and she answered a few questions for us and shared her thoughts on Forex trading and contests.

- Please tell us a few words about yourself.
- I am 33 years old. I was born and live in Moldova. I work as a manager. Married.

- How long have you been trading Forex? How did you start to trade?
- I learned about Forex from friends 2 years ago.

- How long have you been participating in FXOpen’s ForexCup competitions? Do you participate in any other competitions sponsored by other brokers at the same time? How did you learn about the ForexCup project?
- I learned about ForexCup from an ad on the Internet. I’ve been taking part in ForexCup contests almost since the start of this project. I also took part in several Forex trading contests sponsored by other brokers. But i like ForexCup more.

- What benefits and drawbacks can you point out, how can we further improve ForexCup?
- I would like to take part in a contest for live accounts. Apart from that, i do not see any drawbacks. I like your contests a lot.

- Is Forex trading and participation in the competitions is your primary income or it is just an additional hobby?
- Forex trading is a hobby that brings a small income, too.

- When did you realize that you started to win the competition? Describe your emotions at the moment when you became the winner of the competition.
- Up until the last minute of the contest I was in the second place. Only when the contest ended, I realized that I won.

- What is the secret of your successful trading? What helped you to win?
- Constant practice and luck.

- How do you plan to spend the prize? Is it your real aim to become a manager of a PAMM ECN account or do you want to withdraw the prize and spend it on something else?
- I will use the prize for trading. Maybe, I will be lucky.

- Could you please give some advice to all traders and participants of ForexCup competitions.
- Join a ForexCup trading contest at least once. You will be lucky and you will win.

Resolve
07-19-2012, 11:18 AM
The results of the paid monthly competition “FX Market Masters JUNE” have been published lately. The winner is a 31 years old trader form Oman, who several times has participated in ForexCup contests. The trader got his first prize in the week competition in January, 2012. The June’s victory is the second one for him. And now he became a manager of PAMM ECN account with the balance amounted to $1000.

Remember that FXOpen constantly holds monthly competitions, where a winner can get a manager’s position of PAMM ECN account with solid balance. And June contest wasn’t an exception – the user with nickname Balqaun increased his balance to $68 649 (it’s necessary to mention that his start-up capital was of regular size and amounted to $5 000). So, his profit was 1 273% and he showed the best result among 771 traders.

What is the taste of the victory? And which are the future plans of the winner? We asked him a few questions and also ask to tell us a few secrets of successful trading.

- Please, tell a few words about yourself.
- I was born in 1981. I am a university lecturer, in my free time I prefer reading. I’m married and looking forward to the birth of my daughter, which will happen in August.

- You managed to win in the really important competition. Could you please describe your personal “Way of the winner in the Forex market”?
- I tried trading two years ago – one of my friends led me to Forex. Then I decided to participate in the competitions, because this action is totally non-risky.

- What are the main advantages of trading in the currency market to your opinion?
- The ability to get profit is an absolute benefit.

- What is trading in the Forex market for you – your constant income or just hobby?
- Trading is a constant source of little income for me.

- How did you get to know about ForexCup competitions?
- One of my friends told me about it.

- Well, what concerns competitions – why do you participate? What attracts you – the passion, your interest to the process of trading or prizes which you can get?
- Most of all I like the fact that winners usually get prizes.

- We know that you have already participated in 14 contests and it isn’t your first victory. What encourages you to participate again and again?
- You are right, I have become a winner for two times and it’s really a nice feeling. Loosing is emotionally hard, of course (but I always know that I don’t lose anything. That fact encourages me to participate again).

- What is the secret of your success in the Forex market? Could you describe in a few words your personal strategy?
- I can say that my strategy consists of fundamental and technical analysis.

- What can you advise to all the newbies in the Forex – both for those who start trading and those who start participating in our contests?
- Do not make any emotional decisions. You should understand that all your problems you can find in yourself. From my point of view, the main parts of success are discipline, planning, working with your journal, statistics and analysis.

Resolve
08-16-2012, 03:50 PM
Big monthly contest “FX Market Masters July” was held in the previous month. More than 960 traders participated in it. And the winner named Dao Viet Cuong managed to show the best result – he increased his deposit by 661% (from $5000 to $38094) and became a manager of PAMM ECN account registered with FXOpen.

We were lucky to ask the winner a few questions after the contest ended. Read his interview below:

- Could you please tell us a few words about yourself: how old are you, what do you do for a living and how do you spend your free-time?
- I’m 35 years old and I have a work, where I earn money for a living. In my free time I often read articles and documents which are related to Forex (in order to improve my skills) and I trade, of course.

- How long ago have you started trading at the Forex market?
- I started trading at Forex about five years ago.

- How much time has it taken to develop your own strategy? What does it consist of (if it’s not a secret)?
- I have worked on my strategy for 4 years and now it mainly consists of RSI, Storchatic, MA and MACD.

- What is a particular interest for you to trade at such an unusual market?
- The most interesting thing here for me is a trend of trading.

- Do you take a risk while trading or you usually make only deliberated decisions?
- I should say that sometimes I do make some risky decisions, it depends on a particular situation.

- How did you get to know about Forex contests?
- One of my friends has showed me the ability to participate in your contests.

- What was your reaction to your victory? Did you anticipate it or it was an unexpected thing for you?
- I was really happy about my victory. Actually, I have tried really hard to get it.

- Are you going to participate in other ForexCup competitions?
- Of course, I do! I’m sure I will become a winner again and again.

- What is your universal advice for those, who are just going to participate in Forex contests?
- You should believe in yourself.

Resolve
11-09-2012, 08:52 AM
FX Market Masters September 2012

The monthly contest “FX Market Masters September 2012” ended in the beginning of October. The total prize fund amounted to $5000 (prize fund - $2000 and $3000 were prepared for bonuses). 75 traders divided bonus fund between theirselves.

Such contests are really popular. 1344 users participated in the September competition. The winner of the contest is Andrey Barinov – he became a manager of PAMM ECN account with a balance of $1000 and also received a bonus for successful trading.

We asked a successful trader a few questions about participation in our contests, his victory and trading strategy.

1.Could you please tell us some words about yourself
My name is Andrey. I am from Ukraine. I work as an engineer.

2.How long have you been trading Forex? How did you start to trade?
I have been trading from summer. I have started as any other person – I just wanted to get some additional income. Once I have seen an advertising of a Ukrainian company, went to their web-site and learned about Forex.

3.How long have you been participating in FXOpen’s ForexCup competitions? Do you participate in any other competitions sponsored by other brokers at the same time? How did you learn about the ForexCup project?
I have participated in contests just for some months. I have also tried to play with some other brokers, but I wasn’t successful. I have learned about ForexCup from the Internet – someday I have met a company’s banner in a mail server.

4.What benefits and drawbacks can you point out, how can we further improve ForexCup?
The main benefit is an honesty of the organizer. Also, you have a very convenient option of subscribing to contests, updated rating and other functions in the ForexCup cabinet. I haven’t met any significant drawbacks yet.

5.Is Forex trading and participation in the competitions is your primary income or it is just an additional hobby?
It’s not my primary income, but I can’t also call it “a hobby”. While participating in contests, I am trying to learn how to be successful at Forex and get some experience without any risk

6.When did you realize that you started to win the competition? Describe your emotions at the moment when you became the winner of the competition.
To be honest, a week before the end of the contest I saw that my balance had already pulled me away from other competitors. I was really happy and surprised when I closed the last trade and saw that I became a winner

7.What is the secret of your successful trading? What helped you to win?
Actually, I don’t have any secret. I have just tried to enter the market in trend and used the simplest MT4 indicators.

8.How do you plan to dispose of the prize? Is it your real aim to become a manager of a PAMM ECN account or the financial prize that you can dispose of in your own way is more attractive to you?
I will definitely trade in my account! And of course, I want to be a manager. I plan to increase my deposit with personal trading and then – attract investors.

9.Could you please give some advice to all traders and participants of the competitions
First of all – believe in yourself and your victory! Never give up your trading strategy. I wish everybody good luck! I think that I personally proved that everyone is able to win in a contest

Resolve
11-09-2012, 08:53 AM
Another one paid contest “Profit Hunters” ended on October, 12. A trader from Jordan, Emanova, appeared to be the best one among 85 participants – he increased a start-up capital by 490% and became a manager of a PAMM ECN account.

We were lucky to ask the winner a few questions:

- Could you please tell us some words about yourself?
- My name is Eman. I am married. I have 3 kids (one boy and two girls ).

- How long have you been trading Forex?
- Two years.

- How long have you been participating in FXOpen’s ForexCup competitions?
- I participate in those contests since they have been launched.

- Do you participate in any other competitions sponsored by other brokers at the same time?
- Yes, in two other competitions.

- How did you learn about the ForexCup project?
- I knew about it from a friend of mine.

- What benefits and drawbacks can you point out, how can we further improve ForexCup?
- The ForexCup site is professional and interactive.

- Is Forex trading and participation in the competitions is your primary income or it is just an additional hobby?
- It’s an additional hobby.

- When did you realize that you started to win the competition?
- I was in the 2nd place till the last 5 hours. I realized that I will be the winner two hours before the end of the competition.

- Describe your emotions at the moment when you became the winner of the competition?
- I cannot describe my emotions... I was very, very happy.

- What is the secret of your successful trading? What helped you to win?
- There are no secrets. But, sometimes you have to ride the trend

- How do you plan to dispose of the prize? Is it your real aim to become a manager of a PAMM ECN account or the financial prize that you can dispose of in your own way is more attractive to you?
- I am planning to increase my capital to reach $5000 and after that I can attract investors

- Could you please give some advice to all traders and participants of the competitions on the threshold of 2012.
- Do not trade emotionally. Ride the trend as much as you can. Cut the losses.

Resolve
11-09-2012, 08:54 AM
A Ukrainian trader named Makarov won in the regular weekly competition “Profitable WeeK 10/22/2012-10/26/2012”. During 5 trading days the leader made 13 profitable trades, noticeably increased his start-up deposit (from $5000 to $15846) and received $275 for the 1st place. We were lucky to talk to the trader and find out his secrets of successful trading.

- Could you please tell us some words about yourself?
- I will turn 29 this year. I live in Khmelnitsky, work in commerce and got married not long ago.

- Tell us when you got to know about Forex?
- I first met with Forex this summer

- Do you trade in a real account? Are you successful?
- Right now I try to trade in cent accounts.

- Is Forex trading and participation in the competitions is your primary income or it is just an additional hobby?
- Trading is just a hobby for me. But I should say that sometimes I can get rather good income.

- How long have you been participating in ForexCup contests? How did you get to know about the project?
- I have been participating in your contests for 2 months. I first saw ForexCup ads while searching in the Internet.

- If we talk about the contest you have just won – according to statistics, all your trades were profitable and you traded just in one currency – why you have chosen that trading instrument?
- It’s just in that contest) In other ones I wasn’t so successful. The choice is based on the fact that EUR has a strong movement recently, and the second currency in the pair JPY makes it possible to obtain a higher profit at the expense of more tick. I would have traded a pair GBPJPY, but in my opinion, the spread is too big.

- When did you realize that you started to win the competition? Describe your emotions at the moment when you became the winner of the competition.
- During last hours I watched the rating, I didn’t want anyone to overcome me in the end. I was ready to make some more trades, but I was successful and finally didn’t have to do it

- Please, tell us a few words about your trading strategy? Did it take long to start profitable trading?
- Strategies you can call it very conditionally – I buy on strong move up and sell on the rebound. In real trade I do not risk a maximum lot.

- What benefits and drawbacks can you point out, how can we further improve ForexCup?
- I like the conditions of your competitions. Your website is well-designed, though "too heavy." For not too fast Internet. Also, you have a rather convenient form of registration.

- Have you ever participated in other projects’ contests? Are forex-contests popular in Ukraine?
- Yes, I participate in some other contests, but unsuccessfully. I can’t say anything about contests from Ukrainian brokers – I haven’t ever met them

- Is Forex widespread in Ukraine? Do you friends trade?
- No, I don’t have friends-traders. I can’t say anything about spread of Forex, but advertising on TV and in the Internet is rather huge.

- Will you again participate in ForexCup contests?
- Definitely yes!

- Have you ever heard that we hold a monthly contest where a winner receives a PAMM CAN account with a great balance? Will you participate?
- Yes, I have already tried but haven’t been successful in your October contest. I have just registered for a November one

- Do you know that FXOpen – a sponsor of ForexCup contests, has just opened an office in Ukraine? Are you happy about that?
- I think it’s great news. So, I am able to visit your company in case of any necessity.

- By the way, FXOpen holds a Ukrainian Forex Championship. Participation is free and an account with a balance of $1000 for the 1st place. Will you participate?
- I will!

-What can you wish to newbies?
-I think that I am a newbie in trading myself. So, just learn and don’t risk all the time!

Resolve
11-15-2012, 10:46 AM
A girl from Ukraine with a nickname Kimoha became the winner of the weekly contest “Profitable WeeK 10/29/2012-11/02/2012”. During 5 trading days she managed to increase her start-up deposit from $5000 to $15188.

How did she manage to reach such a great result during short period of time? What was her trading strategy? The winner answered to that and other questions.

- Please, tell us a few words about yourself?
- I am 26. I live in Kiev and I am not married. I work in a sphere of non-network marketing.

- How did you get to know with Forex? What did you start your trading with?
- I became to market in 2009 and almost immediately started trading in a small real deposit.

- Are you successful in real trading?
- To tell the truth, I am successful from time to time – sometimes better, sometimes worse )

- What is Forex trading for you - a hobby or a source of income?
- Right now it’s just a hobby.

- You have participated in ForexCup contests time and again – please, tell us, what has encouraged you to try to be the first again and again?
- Actually, this victory is not the 1st one in ForexCup contests. I try to participate in each competition. It allows me to train my skills and get new ones. Also, it’s really great to feel yourself as the best trader even of one contest.

- According to statistics, all trades in that contests were profitable and you used only two currency pairs – EURJPY and CHFJPY – how did you choose your trading instrument?
- Taking into consideration the specific of your contests, I have chosen currency pairs with high price of one point. Also, EURJPY and CHFJPY show good volatility.

- Could you please share with us some secrets of your trading strategy?
- In that contest I used the intraday trading strategy. I also tried to take small profits of 50 points maximum because I haven’t expected any strong movement before the announcement of the election results for the U.S. president.

- In which moment did you realize that you would win the contest?
- Just in the beginning, an hour before the end of the competition. The thing is that the closest participant had almost the same chances as I did – we had the same Equity. Probably, the last trade resolved everything.

- What are the benefits of ForexCup to your point of mind?
- There are lot of benefits: a quickly updated rating of contests, and the ability of viewing trading activities of other participants, the great benefit is a just-in-time summing up. But it would be great if you provide an ability to see open trades of others. Also I would like to participate in contests of other timing, like a two-week or a daily ones.

- Will you participate in ForexCup contests in the future?
- I will!

- Do you know that we hold a monthly contest where the winner will become a manager of a PAMM ECN account? Will you participate?
-I have been already participating.

-Do you know that FXOpen, who sponsors all ForexCup contests, has just opened the Ukrainian office? Are you happy about that?
-I think, I am. That action means that FXOpen has serious plans and attitude.

- What can you wish to newbies?
- I want to wish them perseverance and patience.

Thank you for the interview. We wish you great profit and victories!

The way to the victory can be rather long and complicated – you have to improve your strategy and try new instruments. But an honored reward is waiting for all persistent traders! Believe in yourself – join ForexCup (http://www.forexcup.com/) contests right now and win!

Go to the registration page (http://forexcup.com/Competitions.aspx)

Resolve
01-15-2013, 06:42 AM
FX Market Masters December

One of the most popular ForexCup contests, “FX Market Masters December” ended on December, 21. Exactly 100 traders participated in it. The introduction of the entry fee presented low competition’s level and increased total prize fund.

The winner of the contest, a Jordan trader with a nickname Msaleh, appeared to be one of the most successful traders, connected with ForexCup – he received the biggest prize ever, almost $2000.

We were lucky to ask the winner a few questions. So, read below what is the secret of his strategy, how he managed to win and more.

- Please, tell us a few words about yourself
- My name is Mamoon, I am 41 years old. I am married and I have twins (two boys). I work at public statistics department as a statistics specialist. I live in Marka which is a very nice city.

- How long ago did you come to the Forex Market? What did you start trading with?
- I came along with the Forex market 18 months ago when I started trading on demo accounts. After 7 months of trading I switched to live accounts.

- Are Forex trading and participation in contests your main sources of income? Or do you have it as an addition to other activities?
- Forex is not my main income.

- How did you get to know about ForexCup? How long ago did you start participating in our contests?
- I had been informed about ForexCup via the person who trained me some forex basics. I started participating in ForexCup contests from the very start.

- According to the statistics of the contest you won, you traded on silver only – why did you choose that particular trading instrument?
- I usually trade on silver on my live account (I like little margin with large pip value,also it respects the trend)

- Your trades were almost all profitable. What is your successful trading strategy based on?
- It is based on a mixture of special indicators.

- How long did it take to work out such a profitable strategy?
- My trainee pointed me to the used strategy

- When did you realize that you will become a winner? Please, describe your emotions at that moment.
- I realized that I will be the contest’s winner two days before the end of it. So, on the last day I did not trade. I am happy to be the winner.

- Is becoming a manager of PAMM ECN account actually what you want? Or your main motive force is the financial prize, and you’d better like to dispose it other way?
- This is the 1st time I have a PAMM account. I hope I will be successful in managing it.

- Do you have any experience of trading on ECN accounts? Do you know that FXOpen has the lowest ECN spreads in the whole industry?
- No, I do not have any experience of trading on ECN account. I noticed and I was very happy to see that the spread of silver on the contest account switched to 0.2 pips during the last week of the contest.

- What do you like and do not like about ForexCup? What new features or contests would you like to see in 2013?
- ForexCup is a nice project both for beginners and expert traders where all participants are able to win prizes and bonuces. I hope ForexCup will develop more and more in 2013 with bigger prizes.

-Could you please give some advice to traders who participate in ForexCup contests in 2013?
-I wish good luck to all traders and ForexCup participants! Remember that anyone is able to win!

Resolve
02-14-2013, 07:39 AM
1. Please, tell us, how did you get to know about Forex Market? What did you start trading with?
Some time ago I saw some advertising about Forex in Media and also I watched a few TV reports about principles of trading. I even went to some free seminars, but I didn’t dare to open a real account, I was afraid of losses. During that time I realized that Forex is not a financial pyramid, it is a real way of earning money, where everything depends on your attentiveness and patience. For the first time I traded at Forex market in March, 2012 and I wasn’t really successful, I should say.

2. What is trading for you – your hobby or a source of income?
Right now trading is only hobby, because I trade only on demo accounts. I do not have a real account, but of course I would like to try trading on it. But I’m sure, I will have to be more careful with funds and do not make risky trades.

3. Please, tell us a few words about yourself
I live in Samara, my hometown. I am not married. Most of all I like spending time in my country house. Also, I am fond of soap operas and spending time behind the computer.

4. How did you get to know about ForexCup? For how long have you been participating in our contests?
I first read about your contests in the web-site, devoted to discounts. I became an active participant in autumn, 2012.

5. When did you understand that you would become a winner? What did you feel at that moment?
When I turned up at the 1st place, I was really surprised, because I hadn’t even dream about it. During the contest I managed to make some successful profitable trades – and because the contest was just a weekly one, it was enough to win.

6. Please, tell us a few words about your trading strategy. How long did it take to make it successful?
It took about 2 months to make my strategy a profitable one. Its principles are rather simple – just buy, when it is cheap and sell, when it is expensive. But you have to keep track of trends and participants’ behavior all the time.

7. What are the pros and cons of ForexCup contests? What should we add or change?
From my point of view, your main pros are:
• Availability – there are participants from all over the world;
• Transparency – it is possible to see trades of other traders, etc.
And I don’t think, your contests have any drawbacks.
As for me, you can add some competitions on shares or futures.

8. Have you ever participated in other projects’ contests?
Yes, I did, in the beginning of 2012. I didn’t like the mechanism of that contests, they were complicated and even their terminal didn’t work in a proper way. Your contests, conversely, are much more interesting and exciting. They remind me some sport or intellectual game.

9. Do you plan to participate in ForexCup competitions again?
I like your contests, so, I will try to find time for ForexCup in the future.

10. Do you know that we regularly hold a monthly contest where the winner becomes a manager of a PAMM ECN account? Would you like to participate?
Well, I didn’t know about it but it will be interesting to participate. I think I should try.

11. Could you please give some advice to newbies in our contests?
Do not try to get excess profit and weigh your risks. Be attentive and take the time. Good luck!

Resolve
02-20-2013, 08:34 AM
A traditional contest “FX Market Masters January” has been recently held at ForexCup. Igor Kuznetsov from Kazakhstan has become the winner. He’s managed to make really great profit of 832 % during 4 weeks of trading. You can read more about the competition here (http://www.forexcup.com/forexcupnews_229_en/).

- Please, tell us a few words about yourself.
- I’m 42. I was born in a Kazakh town Kustanay, where I live now. I’m system administrator.

- When and how did you get to know about Forex? How did you start trading?
- I learnt about the Forex market about 5 years ago and took up trading in demo and micro accounts. I must admit it was hardly possible to increase the deposit and not to lose in the beginning of my trading career.

- What is Forex trading for you – hobby or a source of income?
- Well, it’s primarily a sort of hobby.

- Do you trade in the live account? Have you succeeded?
- Yes, I do have a live account and I trade regularly there. However I can’t boast of outstanding results so far.

- Is Forex trading popular in Kazakhstan? Do you have friends who share your hobby?
- Forex trading is not widely spread in Kazakhstan. Personally, I don’t know any Forex trader here.

- How did you learn about ForexCup competitions?
- I’ve read about the project in one of the Forex-related forums.

- We know that you have already participated in our contests for 57 times. - What’s been inspiring you to strive for the victory again and again?
- Well, I really enjoy the whole process of competing and the feeling of being the best. Besides I do love the very “alchemy of finance.” I am a real Forex fan.

- Now let’s talk about the competition. It wasn’t for free. Do you enjoy participating in contests of such a type? What did you aim at?
- I should say, I like such format of contests. The main goal I’ve set before the contest is to learn making profits in Forex and obtain the best results.

- You’ve been primarily trading EURJPY and EURUSD currency pairs. Why have you chosen these instruments?
- I prefer using the instruments that suit me most and draw my attention. What is more the current market volatility is pretty favorable and there’s no need to move towards more exotic trading tools.

- According to the contest statistics, you’ve made 53 trades for 4 weeks, while only 5 of them happened to be loss-making. Will you share your trading strategy with us?
- I must admit that I have no clear strategy at all. I just ignore technical indicators and act on a hunch. I’d say I am still a beginner learning to trade with profit. So, I rely on myself and try to develop my trading skills.

- When did you realize that you’re going to win? What did you feel?
- I was not sure of my win till the very end of the contest. It’s always great to be the first. This year’s prize is a special reason for my pride – it’s a record for me!

- What are the pros and cons of ForexCup competitions? What would you like to hange?
- I do love ForexCup project! I’d hardly define any faults. My point is that other brokers should learn from you how to hold such kind of contests.

- What will you recommend to newbies in the Forex market?
- I wish them patience in learning and success on the way to their goals!

This competition has proved once again that anyone can become the winner regardless of their trading tools, strategy or targets. Just do your best and believe in good luck!


Test your skills!


Join ForexCup and prove the world that you are worth being the best! (http://www.forexcup.com/competitions.aspx)

Resolve
06-05-2013, 09:57 AM
Artem Shvidskiy, a trader from Poltava, has proved to be the best among the 162 participants of the tournament "Gold of Ukraine" (http://www.forexcup.com/forexcupnews_262_en/). He managed to gain the 500% profit during the trading interval, thus taking the leading position in the contest.

In a brief interview Artem shared some secrets of his trading strategy that secured his success and the 1st place in the competition. He also told us about his plans for the future and advised everyone to learn from mistakes.

The interview is given below:

- Our heartiest congratulations on your win! Please, tell a few words about yourself. Where do you live? How old are you? What is your hobby?

- Thank you for congratulations – it’s always pleasant to win! I’m 20, I study finance at University and enjoy extreme sports. I’m not married yet, but plan to make a family in the future. As for my character, I’d say that I am quite a risky person but I always feel the right moment to stop. This contest is the most vivid example – I stopped trading as soon as I made some profit.

- Tell us about your trading career in Forex: the way you’ve learnt about it and taken up trading.

- I came to Forex 3 years ago. My friend told me about his hobby – Forex trading – and his achievements there. He’d already made good money despite his young age. Of course, it pushed me to learn more about Forex.

- What is trading for you? Is it a hobby or a source of income?

- I’m a part-time student, so I try to find time both for education and Forex trading. As soon as my trading strategy becomes responsive and enables me to make profit, I’ll switch into Forex 100%.

- How did you learn about ForexCup project?

- I came across a project advert when surfing the forum I rely on. Generally speaking, I like the format of these competitions and I’m going to go on with them in future.

- This competition is your first trading experience at ForexCup but this fact didn’t prevent you from the win. What trading tools did you prefer when trading? Did you often take a risk?

- I focused mainly on volatility when choosing trading tools. By the way, I took high risks at the very beginning of the contest. But as soon as I started to make steady profit I forgot about my positions for some time. It often happens that, in pursue of minor profits, a trader may close the position ahead of time, thus, depriving himself/herself of higher profits.

- Will you share some secrets of your trading strategy?

- I usually watch various timeframes - from short to daily ones. I prefer not to use indicators in my trading and choose the time to open a position on my own taking into account the market dynamics – I use the older timeframes to identify the trend but work with the 15-min chart to find the signal for making an order.

- How long did it take you to work out a profitable trading strategy?

- I learn from my own mistakes. If analyzing my trading year, I either incurred losses or stuck to zero level. My patience and persistence bore fruits with time. The whole process of trading became clearer to me and I realized that I started to shape my own trading style.

- When did you realize that you could win? Describe your feeling when you learnt about your victory.

- Well, actually, I’ve always felt that I could make the TOP5. Close to the end of the competition I became more confident in my actions and I started to hope for the absolute victory.

- Would you really like to manage your new PAMM ECN account? Or you are probably more enthusiastic about the real money prize and the ability to use it as you wish.

- By all means, I’ m very curious about the PAMM Manager’s duties. I anticipate the opportunity to learn and master new skills. When I have enough experience in this sphere I’ll try hand as an Investor.

- Do you have any experience of trading on ECN accounts?

- I’ve read a lot about ECN accounts and planned to open my own ECN account in the near future. But now I’ve got a splendid opportunity to see how the ECN accounts work in practice.

- What are the pros and cons of ForexCup competitions? What would you change?

- I like the ForexCup project and can’t find any faults in it. For a change, you may arrange intraday competitions.

- What would you recommend newbies in Forex?

- Forex-contests are a great chance to train personal stress-resistance. When trading Forex, you have no time to think – all decisions must be taken instantly. But keep in mind that contests are far from real trading. You must take adequate risk when trading real money. Only then you’ll be a success!

Source: An Interview with Artem Shvidskiy (http://www.forexcup.com/forexcupnews_265_en/)

Don’t miss great opportunities provided by ForexCup competitions (http://www.forexcup.com/competitions.aspx)! Join new projects right now – your success depends on you!

Resolve
08-06-2013, 10:48 AM
The results of Asian Forex Championship (http://www.fxopen.com/News.aspx?Id=c56fd155-a233-4fdf-9194-7a5c5a2584a6) have been summed up lately. The biggest regional Forex-contest was held from May 27th to July 19th, and was a total hit with over 1600 participants.

The winner, an Indonesian trader Ariful Miftakhuddin, was awarded the title "The Best Asian Trader" and a PAMM ECN account worth $3000. Ariful Miftakhuddin should really be admired for his trading talents and outstanding results! The winner made more than 2000% profit, leaving his competitors far behind. It was a clear victory.

We were lucky to interview the most successful trader in the Asian Forex Market and asked him a few questions about the championship, his trading strategy and plans for the future.

1. Could you please tell us a few words about yourself?
I am 25 years old and I am single. I live in Indonesia. My hobby is music and bird watching.

2. Could you please describe your “way in Forex”: how and when you started, how you moved on, when you managed to make the first profitable trade, etc.?
I learnt about Forex trading about three years ago. Actually, I started learning by joining some thematic forums.

3. Do you trade with real money? Are you successful at it?
Yes, I do trade in a real account. Well, what concerns profitability I consider it is enough for me, when my profit is bigger than my losses.

4. What is trading for you: your main source of income or just a nice pastime, which earns you some money?
Trading is my main source of income. I consider it my job.

5. How did you learn about ForexCup contests? Have you ever participated in contests held by other brokers?
For the first time I came across the mentioning of ForexCup contests at one of the forums, that I usually read. So, I decided to try - and now I like it very much. I have never participated in competitions, which are held by other brokers.

6. What are the advantages and disadvantages of ForexCup competitions?
As for me, the main advantage of ForexCup competitions is free participation in most contests. I admire it because you do not lose anything even if you are not successful. And I cannot think of any disadvantages, the project is of high quality.

7. Let’s talk about the Championship you won – it was one of the biggest ForexCup events, how did you dare to participate?
Actually, when I saw the announcement, I just decided to try. I thought “Why not?” and joined the championship.

8. We know that before that contest you have already participated in 16 other contests – what encourages you to try again and again?
My main reason to participate in each contest is to learn from other traders and to develop my own trading skills.

9. Weren’t you scared by the high level of other traders in the contest? Did you follow the results of your competitors?
I should say that I wasn’t afraid – if I already joined it, I just had to do my best at trading. And I didn’t follow the results of other participants – I was totally concentrated on my own tasks.

10. How did you make your trading decisions? Did you think everything over or did you let yourself risk sometimes?
In most cases I carefully analyzed the situation, but sometimes I made risky decisions too.

11. Did you dream about the victory or you were just sure that you would win?
I should confess that I haven’t even dreamed about the victory. So, it was a total surprise for me!

12. According to the contest statistics, you made a lot of trades – and you traded mainly GBPJPY or other GBP pairs – is it your favorite trading instrument? Why did you choose it? What other pairs do you like to trade?
You are totally right, most of my trades were made on GBPJPY – just because it’s my favorite currency pair. Also I often used EURJPY and USDJPY, because those instruments usually have nice movements.

13. Also, we can see that you had really few losing trades – so, did it take you long to work out a profitable strategy? What is your strategy based on?
I created my strategy while I was learning to trade at Forex. While preparing it, I tried to use different indicators, but finally I picked Ichimoku.

14. What did you feel at the end of the contest when your leadership was proved?
I was very, very happy about my victory!

15. You got a PAMM ECN account with significant money in it as a reward – are you excited to start your PAMM manager career or would you prefer just a money prize?
I enjoy having a PAMM ECN account – I have always dreamed about it. But if you had given me just a money prize, I would not be upset *smiling*.

16. How do you plan to manage your PAMM ECN account?
I want to develop it, to attract Investors and manage it as long as possible – and make great profit, of course.

17. Are you going to participate in forex-contests again, after being awarded such a great title?
Forex-contests are my hobby, so, you will see me in ForexCup competitions again and again.

18. Could you please give some tips of advice to newbies and to those who still plan to start participating in ForexCup contests?
My main advice is “never give up!”. You should try again and again until you succeed. And do not forget to improve your skills by both learning theory and practicing it.


ForexCup team totally agrees with the winner: never stop on your way to your dream. Take every opportunity to improve it and develop your skills – and success will find you. Do everything possible – and you will be awarded!

Resolve
08-23-2013, 10:06 AM
Asian Forex Championship, 2nd place

ForexCup (https://www.forexcup.com/)Summer 2013 has been marked with an outstanding event called Asian Forex Championship. About 1600 traders from 53 Asian countries took part in it, fighting for fabulous prizes and bonuses.

Each participant achieved their own results depending on trading skills, personal strategy and a bit of luck. It should be mentioned that some traders showed excellent performance, for which they received good prizes.

For example, the second place holder, Farid Ikram Bin Ahmad Zabidi from Malay, made 1355% of profit during eight trading weeks. He let only the winner outstrip him – so, now he is a deserved manager of a PAMM ECN account from FXOpen.

We contacted the lucky trader and asked him a few questions about the successful strategy he created, the risk he took up, his favorite trading tools and other interesting facts.


1. Could you please tell us a few words about yourself?
- I am 28 years old; I am married and have one cute daughter, now she is almost two years old. I am from Perak, Malaysia. I work as an Assistant Technician Officer in Telekom Malaysia and my hobby is fishing.

2. Could you please describe your “way in Forex”: how and when you started, how you moved on, when you managed to make the first profitable trade, etc.?
- I started trading in Forex about 5 years ago, when I learnt about it from my colleague. I used to attend Forex courses and follow thematic groups in Facebook. I made my first profitable trade in 2011.

3. Do you trade with real money? Are you successful in it?
- Yes I trade in the live account, but I am not always successful.

4. What is trading for you: your main source of income or just nice pastime, which provides you with some additional money?
- I have a full-time job, so, I may consider Forex as a part-time one. However, I hope that one day trading will become my main source of income. Right now it helps me earn some extra money which is very important for our family, because my wife is out of job – she stays at home with our daughter.

5. How did you learn about ForexCup forex-contests? Have you ever participated in contests organized by other brokers?
- I came across ForexCup in one of my favorite forums. I admit that I have participated in several contests held by other brokers, but I have never succeeded there.

6. What are the advantages and disadvantages of ForexCup competitions?
- What I like about ForexCup most is that there is no need to deposit any money while participating. What is more, the rules are clear and simple, while the rewards are more that attractive. Personally, I see no disadvantages.

7. Let’s pass to the Championship you took part in. It was one of the biggest ForexCup events, how did you decided to participate in it?
- First of all I should say that it was a real challenge for me. I understood that there would be hundreds of participants and strong competitors from all Asian countries. But in the end I got the second place – and I assure you, I had no idea that I could win.

8. We know that before that contest you have participated in 7 others – so, what encourages you to try again and again?
- The main reason for persistence is the feeling that I could make it and could become an experienced trader in the end. Each contest makes me more disciplined, attentive and knowledgeable in terms of Forex trading.

9. Were you afraid of the competition scale? Did you follow the results of your competitors?
- Actually, I didn’t feel any fear, because I also have some experience in contest trading. I just enjoyed the process and didn’t hope to get as high as I did. And I followed the results of other participants, I always do it.

10. How did you make your trading decisions? Did you carefully think everything over or did you take up risk sometimes?
- Most of my trading decisions are based on technical analysis, so, I have to think them over carefully. But I am a human being, so, I make risky decisions at times.

11. Did you dream about the victory or you were sure that you would win?
- I admit that sometimes I had dreams about the victory, but I wasn’t sure that my dreams would come true one day.

12. According to the contest statistics, you have made a lot of trades – and many of them were on GBPJPY– is it your favorite trading instrument? How did you choose it? What other instruments do you like to trade?
- Actually, my favorite currency pair is EURUSD, but it is not that volatile, so, I settled on GBPJPY. Sometimes I also used EURJPY, even though it was more risky but high risk means high return. As for my live trading, I prefer gold as a trading instrument.

13. Also, we can see that you had really few losing trades – so, did it take you long to work out a profitable strategy? What is it based on?
- From my point of view a profitable strategy should be based on caution and risk management. During the contest I used the mix of two strategies: the first one is KGBS TS-Kang Gun Buyer Seller Trading strategy and the second one is my own, but I am still working on it.

14. What did you feel at the end of the contest when you understood that the second place is yours?
- I was very excited and proud of myself. It’s my first victory in Forex contest and what makes me happier is the understanding of the scope of the competition I won.

15. You were awarded with a PAMM ECN account with a great balance in it – are you happy about it or would you prefer to get only money?
- The most important thing for me is that I have got my prize. And I am happy about having a PAMM ECN account.

16. Do you have any plans of how you will manage your PAMM ECN account?
- Yes, I have some plans. I want to develop the account, expand the balance and attract investors to it.

17. Are you going to participate in forex-contests again, after such a great victory?
- As soon as I have some free time, I will join ForexCup contests again.

18. Will you please give some advice to newbies and all those who’re still planning to join ForexCup contests?
-First of all you should understand that you enter a risky world of Forex trading. Work on yourselves, control your emotions and try to avoid unnecessary risks. And remember that you can be successful only if you never give up – make it your motto. And I am sure, one day you will win!

Resolve
09-02-2013, 08:19 AM
FXOpen have collated the results (http://www.fxopen.com/News.aspx?Id=d70fa549-99e0-4546-8c2b-194f9226123e) of the OCTL2 plugin user report contest that was held by the company for the first time. The competition organizers were seeking feedback for the company’s new product in practice. Their opinions regarding its functionality were highly appreciated. All winners were offered good financial reward.

The prize money went to the authors of the three most insightful reports. It was decided that the user with the handle Serega submitted the most consistent report on the plugin operation. He was awarded with US$500 and he willingly shared his impressions of the newly developed product.

FXOpen: “Please tell us a few words about yourself. How long have you been in Forex? Have you had much success?”
Serega: “I am 35 and I am single. I live in Kiev. I first heard about Forex some 8-9 years ago. I came across an article about a new way of making money and right at that minute I was carried away by Forex trading. At first it was more of a hobby but then it gradually grew into an alternative source of income but it did take some time. As a beginner, I spent much time on choosing the most suitable trading system, method, broker to eventually get sizable return. Now I consider long-term keeping of the trading capital as the main criterion for success in Forex i.e., I consider a year to be successful if I make a zero profit and may go on with trading. Talking about my targets, I plan to make 20-50% annually and I must admit I reach my goals.”

FXOpen: “Tell us about your trading strategy and your principles of trading. What methods do you prefer? How often do you use EAs?”
Serega: “Currently I combine a few strategies in my trading. I use long and short-term methods, follow the trend and trade over the range. My choice is based on the conformity with my vision of the market and the principles of its operation.
To see the trend I analyse the latest news and market sentiment. To catch the trend I use various methods of the technical analysis to choose the best time for opening a position, setting Stop Loss and Take Profit. I often work with the candle patterns coupled with stochastic and Fibonacci retracement. At this stage I apply the EA that I created myself. When algotrading without setting the trend filter, I generally open low-volume positions. To my mind, mechanical methods alone are unable to consider all the factors affecting the price movement.”

FXOpen: “We understand that you have experience in programming. Does this help you when trading? How often do you create and develop scripts, EAs and other programs to facilitate trading?”
Serega: “I’ve been studying the MT4-tailored programming with the purpose to get the effect of my trading ideas checking and testing them. First of all I use EA to see the potential of some history-based trading strategies. Even if a trading system proves to be profitable when being tested, I don’t hurry to create special EAs but think how I can use it with the best yield possible. For example, I can include the system or its part into my toolkit of manual trading methods. In any case I carry out the overall market analysis. Scripts and EAs are always at hand to open a position, determine the SL and TP levels.”

FXOpen: “How have your personally developed EAs helped boost your trading results?”
Serega: “The main thing is that I can save my time with EAs otherwise, I would have to spend most of my day on the market analysis or would have to put up with the worse results than expected.”

FXOpen: “How did you learn about the contest held by FXOpen? Did you decide to participate straight away? Did you expect to win?”
Serega: “The thing is that I sometimes scalp on tiny lots, which is more for fun rather than to make money. Recently there have been a lot of new applications for one-click trading in MT4 which is very convenient for scalping. I saw your announcement of the contest in the Internet, tried to work with the plugin and wrote the report on it. I aimed to help the tool developers when sharing my recommendations for its improvement. I hope my advice will be useful and the application will become even more efficient.”

FXOpen: “What do you think of the OneClickTradingLevel2 plugin? What in your opinion, are the pros and cons of the instrument? What changes would you suggest?”
Serega: “The plugin steady operation, high accuracy and execution speed are the main advantages of OneClickTradingLevel2 plugin. As for recommendations, I’d like to have a software manual at hand as well as an opportunity to monitor and close the positions opened by means of the plugin only. Switching symbols, used by the plugin to trade, would also be very convenient.”

FXOpen: “FXOpen is planning to hold another competition imminently – Forex Article Contest. Would you like to take part in it? Do you have Forex-related stories you would like to share with other traders?”
Serega: “Sure, I plan to participate in this contest. Who knows, maybe, I’ve caught the trend for winning in your competitions :) ”

FXOpen: “Could you offer advice to Forex novices? What should they start with or avoid?”
Serega: “All beginners had better start trading in real accounts, because demo trading will never give them the main thing i.e., the feeling of losing money. Low volumes will suit them best in the very beginning since mistakes are inevitable so, it’s better to pay less for them. Anyway, don’t be afraid of making mistakes but learn from them! Your losses may turn out to be the best teachers but you still have to analyse and assimilate them in your experience. Even if you are in the red, you have learnt something – isn’t it only bad experience? But, most importantly, stay away from the Martingale strategy and never join the unprofitable position.”

Resolve
09-16-2013, 01:28 PM
Asian Forex Championship appeared to be the most outstanding forex-contest, launched by FXOpen. Hundreds of traders from 53 Asian countries have participated in it driven by the desire to win.

Three strongest participants were awarded the main prizes i.e., all of them received PAMM ECN accounts registered with FXOpen along with good financial bonuses.

All the prize winners shared their impressions of the contest and finally, the third place keeper has agreed to reveal some of his trading secrets. During the Championship the trader made 1294% of profit and was awarded a PAMM account with $US1, 020 in it.

Could you please tell us a few words about yourself?
My name is Sensenati. I am 30 years old and I am married. I am from Jordan, I live in Tabrboor city. I work in the Interior Ministry of Jordan.

Could you please describe your “way in Forex”?
Two years ago one of my friends told me about his experience of Forex trading. It seemed interesting to me and decided to join some Forex courses here in Jordan. I also took private lessons of Forex trading.

Do you trade with real money? Are you successful in it?
I am just about to start trading in a real FXOpen account! Thanks to the contest I’ve got this opportunity though, I have already tried real trading with other brokers.

What is trading for you: your main source of income or just nice pastime, which provides you with some additional money?
Forex-trading is a good addition to my full-time job.

How did you learn about ForexCup forex-contests?
I have come across the mentioning of ForexCup in some online ads and immediately decided to try.

What in your opinion are the advantages and disadvantages of ForexCup competitions? What would you change in the project? Do you have any suggestions?
What I like about ForexCup most is that it provides a trader with everything that is needed i.e., it’s easy to register for a contest; all competitions are well organized while trading terms are favorable and attractive.
As for the weak points, I would mention a fixed leverage, the necessity to register at FXOpen forum and the restriction of “no more than 5 positions at a time” – that’s what I think worth changing.

This Championship was one of the biggest ForexCup events. What made you join this competition?
I had a strong desire to participate in the contest – that’s how I decided to join the Championship.

We know that you have already participated in 1 contest before the Championship – what encourages you to try again?
Some time ago I tried forex-contests organized by other broker. That’s why I decided to join – I had enough confidence in myself.

Were you afraid of the competition scale? Did you follow the results of your competitors?
At first I didn’t follow the results of other participants. But when I smelled the spirit of competition in the air I started analyzing the behavior of other traders.

How did you make your trading decisions? Were they informed, risk averse or did your actively pursue risk?
Most of my trading decisions were carefully thought over while based on technical analysis, news and indicators. But I also took up risk and I liked it.

Did you dream about the victory or you were sure that you would win?
In the beginning of the contest I was dreaming about prizes and bonuses. But I didn’t dare to think of such a high place.

According to the contest statistics, you have made 25 trades, of which a large percentage belongs to JPY. Is it your favorite trading instrument? How did you choose it? What other instruments do you prefer trading?
I have settled on JPY pairs as they are usually more volatile than others. As for my regular trading habits, I prefer gold.

All your trades were profitable. We wonder if it has taken you long to work out a profitable strategy? What is it based on?
My trading strategy is based on indicators, news trading and technical analysis. Actually, I am still working on its improvement.

What did you feel at the end of the contest after your leadership had been proved?
I was happy about it. As for me, it was unusual experience. Most of my ambitious expectations came true.

You were awarded with a PAMM ECN account with a healthy deposit – are you satisfied with this method of reward or would you prefer prize money only?
I am glad to become a PAMM ECN account Manager, because I have never tried ECN trading before. I hope I will be successful in it.

Do you have any plans for how you will manage your PAMM ECN account?
I want to try not only managing, but also investing in a PAMM. And I will also offer my family and friends to join me.

Are you going to participate in forex-contests again, after winning such a great title?
I am sure I will, because ForexCup contests are great experience for any trader.

What advice can you give to beginners and to those who are planning to join ForexCup contests?
First of all, you should be disciplined in everything related to trading. Work on yourself and don’t be greedy. If you want to invest, use only the money you can afford losing in case of a failure. Remember that trader’s success is based on three “T”: training, training and again training.

Resolve
10-21-2013, 09:02 PM
15th October FXOpen collated the results of the Forex Article Contest launched in early autumn. The authors of the best works were announced. They were awarded with good financial prizes. The contest organizers admit that the event drew a response among the Forex community. Some traders took an active part in it; others watched the competition closely from aside and supported the participants by voting for their articles.

The main goals were achieved i.e., Forex traders willingly shared the accumulated knowledge and experience. Their submissions were undoubtedly useful both for Forex beginners and more professional traders.

According to the results of the voting, held in the social networks, “Little Ins and Outs of Big Terminal” («Маленькие хитрости большого терминала») turned out to be the most popular among the network users. It was written by Rinat Zaynutdinov (Ринат Зайнутдинов), who became the winner in the category “Forex Theory.” He got US$500 as the prize for the 1st place. He also answered the questions of the contest organizers and shared his impressions of the recent event.

FXOpen: “Could you tell us a few words about yourself?”
Winner: “My name is Rinat. I am 42. I was born in a beautiful Siberian city called Novokuznetsk where I live now. I am married and I have a 13-year old daughter.”

FXOpen: “Participation in the Forex Article Contest does not require active trading in the FX market. You just have to be well-informed of its mechanisms and be skilled enough to tell about them correctly. We are wondering whether you are an active trader or just a casual observer.”
Winner: “I am really interested in all the processes taking place in the Forex market. I trade in two accounts and try to top them up with the money earned in the contests and various promotional campaigns. As for the Forex Article Contest, right, it required little or no activity in Forex at all. That is a plus. But anyway I am always ready to tell my vision of the market situation. And I will be really happy if I get a prize for that.”

FXOpen: “You submitted your entry in the “Forex Theory” category. Can you explain why you made such a choice?”
Winner: “Well, I decided to share my knowledge of the MT4 terminal. Generally, I enjoy such sort of competitions. I even joke saying that theory is more stable than practice.”

FXOpen: “Could you please describe your “way in Forex” i.e., how you began, developed, made your first profitable trade, etc.?”
Winner: “I learnt about Forex from my wife’s sister. And I got hooked on it at once. I started to search for any useful information in the Internet, registered in Forex-related forums, took part in various competitions. I began my trading activity in 2011. I opened a real account for participation in Forex contests – it proves again that I am really keen on such competitions. My first experience was a failure, but the next one turned out to be a success and I earned my first money. Since then I’ve been watching the market behavior, learning its laws and regularities. I have come to the conclusion that the FX market tends to follow the same patterns repeating the moves within different time intervals. But it’s hard to make any predictions so, one has to be sensitive and feel the market.”

FXOpen: “Do you trade in a real account? Are you successful in it?”
Winner: “I do, but very conservatively. I try to comply with money and risk management principles. Currently I can’t boast of any outstanding results, but I believe in myself and do my best.”

FXOpen: “What is Forex trading for you: your main source of income or a sort of hobby, providing you with extra money?
Winner: “To be honest, Forex is more a hobby for me. It’s an interesting occupation that helps to get some earnings. I learnt a lot of useful things and met some very nice and talented people while trading Forex. I regularly discuss some new ideas and share personal experience with my Forex coworkers. It’s always very exciting!”

FXOpen: “How did you learn about the Forex Article Contest? What made you take part in it?”
Winner: “I came across this competition in forum announcements, as well as in Facebook. I thought it would be interesting and useful for others to learn what I know about the trading terminal. I was also thinking to write about my thorny way to Forex, but I decided that two prizes for one participant would be too much. ”

FXOpen: “Do you take part in other Forex contests? If so, please, tell a few words about them.”
Winner: “Well, I usually follow the latest news about Forex competitions and try to participate in them. But I lack time and simply can’t go on with all of them. You won’t believe me – I tried to hold my own competition but got little support.”

FXOpen: “What in your opinion, are the pros and cons of Forex Article Contest? What would you change or recommend?”
Winner: “To my mind, the advantages of this competition are evident. Anyone is encouraged to share their knowledge. There are no fears or discomfort. It’s up to participants to choose a category or a subject of their articles. Personally, I see no disadvantages. As for recommendations, I think the introduction of new nominations would add some spice to the contest flavor. What is the more, each participant will have a chance to win in the category he or she feels confident and knowledgeable enough.”

FXOpen: “According to the contest rules, the winner is determined by the voting held in the social networks and by the objective assessment of the submissions by the company’s representatives. We are wondering whether you watched your competitors’ results and the whole process of voting in the networks.”
Winner: “Sure I did. I even tried to promote this contest among my friends. Many of them learnt about Forex and its opportunities for the first time in their lives. I hope it will help to enlarge our Forex community.”

FXOpen: “Did you dream about the victory? Or you were probably sure of your success.”
Winner: “Well, I can’t say that I was dreaming about the win, but definitely I expected to get a prize. There were some really good articles that I regarded as my competitors however, judging by the number of “likes” in Facebook I knew I would get a reward. But I wished everybody luck – that’s true.”

FXOpen: “What did you feel when the contest was over and you became the winner in the “Forex Theory” category? What became the biggest reward for you: the prestigious title of the winner or a US$500 prize?”
Winner: “It’s hard to say. Actually, I was happy to get both the title and the prize money – that’s for sure! I felt proud of myself for sharing valuable material. And there was an incredible feeling when I was announced the winner. Thank you the contest organizers and all those who voted for my article.”

FXOpen: “There will be another round of the Forex Article Contest in the near future. Are you going to participate again?”
Winner: “I will definitely take part in it again! All the more, I have already gained valuable experience.”

FXOpen: “Not everyone feels enthusiastic about such Forex competitions. There are different reasons for that. You was not discouraged and decided to try. And as we see, your efforts and optimism were rewarding. What could you advise all those who did not believe in their success and stayed aside? Will you share some secrets of preparing the contest materials? What was the most important thing during the preparation?”
Winner: “The most important thing is to have your own attitude towards the trading process. My advice is to openly share your thoughts, views and ideas without being shy or uncertain of the result. Believe in yourself and you will achieve everything!”




FXOpen congratulates the winner again and welcomes everyone to the nest round of the Forex Article Contest! Good luck!

Resolve
03-17-2014, 12:37 PM
FXOpen has recently announced the results of the Forex Article Contest-3 held in February 2014. The contest organizers were happy to discover new talented traders with both a profound knowledge of the FX market mechanisms and the ability to describe them in an engaging way.

In total, 7 authors of the most interesting articles were awarded money prizes. An article by Marcin Nowogórski won the 1st prize. FXOpen team has contacted Marcin to ask him a few questions regarding his impressions of the contest and his personal experience in the Forex market in general.

FXOpen: “Could you tell us a few words about yourself?”
Winner: “I am a 28 year old guy from Poland who has family and struggle to make for a living. I work as a Business Analyst for the software company with connections to financial industry and I also do some part time job for the biggest Polish Forex Portal. I'm very focused on self-improvement and my goal is to hook up in the FX industry for the full time.”

FXOpen: “Participation in the Forex Article Contest does not require trading actively in the market. You just have to be well-informed of its mechanisms and be skilled enough to tell about them correctly. Are you an active trader or more of a casual observer?”
Winner: “I started my adventure with Forex almost 3 years ago and then I wanted so much to make day-trading my profession. After 2 years of trying, learning and failing I gave up and changed my approach. I found a job as close as possible to the financial industry to be near the market. Despite having a job, yes, I am still an active trader.”

FXOpen: “Can you explain the choice of your article topic?”
Winner: “I read about Forex a lot. I read forums, articles, blogs and I am tired of the same articles and same talks in style of "whatever number of reasons why you fail" or "golden, super, grail, holy system", etc. The Internet is flooded with this, and I wanted to come up with something fresh, what can't be found easily in the Internet. Over the years of Forex trading I've found lots of decent information, so I focused on picking something up from this pool. Soon I realized that I'd like to write about a couple of useful, related things. And so it is: "Few facts that can do something for you" ;-)”

FXOpen: “Could you please describe your “way in Forex”, i.e. how you started trading, developed your trading strategy, made your first profitable trade?”
Winner: “I've started probably as many traders do. My colleague introduced me to Forex saying, that I could probably make some money there. After a short period of trading in demo accounts I decided to go on with real money. Generally, my way was long and painful. I've lost many times – luckily I deposited small accounts. Each time it forced me to improve and seek for knowledge. Thanks to my appetite for wisdom I've met many valuable traders to share knowledge, experience and mutual support. Personal relations from that time are priceless to me, and crucial for my further development.
Actually, I hardly remember my first trades and profits. The thing I recall pretty often is something that happened after the first two months of my FX adventure - it was summer 2011. I was trading in a real account having +100% score then, and I left opened positions for the weekend. It happened to be THE weekend when Fitch downgraded the US credit rating from AAA. I was shocked when I saw my account totally blown up on Monday morning. The funniest thing is that a couple of days later the market reached my target point without me. This particular event taught me several important lessons.”

FXOpen: “Have you made any significant progress trading with a ‘live’ account?”
Winner: “If not losing is a progress, then yes. I have very little profit during the whole 2013 but when I took fees under considerations then I realized that I had to make healthy profits to cover them up ;-). Actually I have made great progress dealing with my emotions and controlling the risk I take. I’ve had very tough time to realize that I won't make lots of money in a reasonable time trading with small initial deposit. Who wouldn't want that? ;-)”

FXOpen: “What is Forex trading for you - your main source of income, or more of a hobby that provides you with some extra money?
Winner: “I wish it would be my main source of income, but it's not. It's rather a passion that sometimes gives extra money… and sometimes takes. ;-)”

FXOpen: “How did you learn about the Forex Article Contest? What made you take part in it?”
Winner: “My colleague has an account at your firm and he told me about FXOpen. I was surprised, that I haven't ever heard about you so I made some research and among other things I've found information about the contest. I took part because I like such contests where several prizes are offered instead of one big prize. It increases your chances to get 'any' reward and makes it worth your effort. Also it's more fun when many people can win and not only "the king."

FXOpen: “Have you ever taken part in other Forex contests? If so, please, tell us a few words about them.”
Winner: “Actually I had this time when I tried my luck in a few competitions. But what I don't like in trading contests is that you have to bare an extreme risk otherwise you don't stand a chance. For me such "shot and pray" games weren’t really interesting. As I said, I'm focused on minimizing risk and having stable returns based on wise decisions made repeatedly. One of my last trading contests was Crosstrade Championship in Poland in 2013 where I won a minor prize - there were something about 20 prizes for different categories.”

FXOpen: “What distinguishes our Forex Article Contest from other competitions in your opinion? What would you change or improve?”
Winner: “I think the idea of the Forex Article Contest is very good. It is very social - make people share their knowledge. I don't see any exact con. I think I would recommend changing images on your Facebook publications. They are all pretty same. It would be nice to make them individual, at least for the users’ content.”

FXOpen: “Did you watch your competitors and voting results unfolding?”
Winner: “Yes, I did look from time to time. There were a few good articles with good potential to be popular.”

FXOpen: “Was your victory a dream come true? Or were you sure of your success from the beginning?”
Winner: “Close to the end I was hoping for 2nd or 3rd place. But the 1st place was a huge surprise for me.”

FXOpen: “What did you feel when the contest was over and you won in the “Forex Theory” category? What became the biggest reward for you - the prestigious winner’s title, or the US$400 prize?”
Winner: “I was very happy and I took my wife to a festive dinner to celebrate. I feel joy that my work and my knowledge have both been appreciated. Money isn’t the most important but I’ll find a good way to use it.”

FXOpen: “You also won in the “People’s Choice Award” category. Did you expect to win twice at a single competition?”
Winner: “Hah, so much happiness! No, I didn't expect this one. There were two articles that get so many Facebook shares in the last few days…”

FXOpen: “There will be another round of the Forex Article Contest in the near future. Are you going to participate again?”
Winner: “Definitely. I just need to think of something interesting for a new article.”

FXOpen: “Not everyone feels enthusiastic about such Forex competitions for various reasons, and yet you were not discouraged and decided to try. As we see, your efforts and optimism were rewarded. Can you share any secrets of writing the contest article? What was the most important thing during the preparation?”
Winner: “You know what? I have written this article during my 12 hour transfer at Moscow Sheremetyevo Airport while waiting for my second flight. Of course I gave it proper check later but the main idea and everything were born there. The 12 hours I was about to lose on just sitting there, turned to be the greatest investment. It's like you need to take that time you waste and look for opportunities that you can catch.”

FXOpen: “What would be your advice to all those who did not believe in their success and stayed aside?”
Winner: “Don't you ever stay aside. Find out what you want and how to do it, and then give it a shot. Of course, you won't succeed every time, but sitting and waiting won't lead you anywhere. I often think that, if I'd known from the beginning what I’d have to go through these 3 years of my Forex trading, most likely I wouldn't have even decided to start it. That would have been probably the biggest mistake of my entire life.”


FXOpen would like to thank all the participants of the February Forex Article Contest and invites everyone to join the next rounds of the competition.


Best regards,
FXOpen NZ Limited
Customer Service
E-mail: [email protected]
FXOpen Live Chat (http://support.fxopen.com/visitor/index.php?/LiveChat/Chat) (24/5)

Resolve
04-18-2014, 06:27 PM
The Interview with the 3rd prize winner of the Chinese Forex Championship

ForexCup Team is glad to offer you the last interesting article related to the Chinese Forex Championship — the interview with the 3rd prize winner, Ping Zheng.

Over the 8 competition weeks he made a 950% profit! The talented trader was awarded with a PAMM ECN account with the balance of US$ 1200 and a real cash bonus for his outstanding results.

ForexCup team asked the winner a few questions regarding his way of life, trading experience and plans for the PAMM ECN account management.
Please, see the interview below.

1.First of all, tell us a few words about yourself.
My name is Ping Zheng. I am a trader from Fuzhou, the city in China. I work as a manager in a small local company. My hobbies are the Forex market and stock trading.

2.How long have you been trading Forex? How did you learn about the Market? Do you have a “success story” of your own?
I have been in Forex for a very long time. Unfortunately, I can’t mention the exact period. My story of success is still going on with each new trade making it longer.

3.What is Forex trading for you?
Trading is my favorite hobby, which often takes time but sometimes gives money in return.

4.Do you trade in a real account? Are you successful in it?
Yes, I have a real account and from time to time I even get some profit from it. I consider it to be a great trading achievement.

5.How did you learn about Forex contests held by ForexCup?
One of my friends introduced me to the ForexCup project when he found out about my passion to Forex. That is how I registered there. Since then I have been enjoying participating in ForexCup competitions a lot.

6.How many contests have you already taken part in? Have you ever won?
I have already participated in numerous contests and even won in some of them.

7.What pros and cons of ForexCup competitions can you mention?
To tell the truth, I am a great fan of the project, so, I can’t point out to any drawbacks. One of its main advantages is the availability to join free competitions.

8.Let’s talk about the Chinese Forex Championship. How did you decide to join it? Did you dream about the solid prizes or did you want gain new experience and get some cash bonus?
It was easy for me to join the Championship – I wasn’t afraid of the competition scale at all. Yes, I wanted to gain some new experience and get a cash bonus.

9.Did you have a particular strategy or did you make your trading decisions on the spot? Which trading instruments did you use?
Yes, I had a special strategy based on the cross pairs.

10.What did you feel at the end of the contest? Did you enjoy being one of the competition leaders?
Actually, I am still surprised with the results. I was absolutely happy to become one of the winners.

11.How did you feel about the idea of allowing other nationalities to take part in the Championship of a particular country? It is good or bad from your point of view?
I don’t see anything bad in it. If participants follow the rules – so, why not?

12.Will you take part in the other ForexCup contests? What can you say about the project following your win in the Championship?
Yes, I will definitely participate in the next contests. My opinion about the project hasn’t changed at all. Now I am sure that everyone is able to win in the ForexCup competitions.

13.Could you please give some advice to newbies in Forex?
Believe in yourselves and track your own way. Do not fall for provocations! Make your own decisions — you don’t need any guidance.




New ForexCup competitions will be announced soon. Stay tuned!