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Gain a fortune in "Lucky Trader" - a new contest from InstaForex
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IFX Katerine
post Mar 31 2010, 03:54 PM
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InstaForex Company is happy to inform all traders about the launch of a new contest for demo-accounts – "Lucky Trader". "Lucky Trader" is a possibility to test yourself, a fair rivalry, application of your knowledge and analytical talents as well as an excellent way to prove that you are the best and the luckiest trader!

Starting from April 12, 2010 the contest "Lucky Trader" will be held every two weeks. Right now you can register in a debut step of this grand tournament and get into the list of the most gifted, successive and the very first "Lucky Trader" winners!

The participant's task is to enhance as much as possible the initial capital of a contest demo-account (USD 30000.00). In the result of every contest step, 8 most lucky traders are determined, who will share the prize fund amounting 3000 USD:

1 prize - 1000 USD;
2 prize - 750 USD;
3 prize - 500 USD;
4 prize - 250 USD;
5 prize - 200 USD;
6 prize - 150 USD;
7 prize - 100 USD;
8 prize - 50 USD.

The registration period for the first contest will last till April, 11. Trade and win with InstaForex!

Registration page
Contest regulations



Regards, official representative


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RahmanSL
post Apr 11 2010, 03:23 PM
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In The competition rules it states:

3. Trading conditions

o 3.6. Minimum volume of a deal is 0.01, maximum - 1 lot. Step is 0.01 lots.

Does "maximum - 1 lot" means I cannot open 2 positions at the same time for1 lot each of any pair of currencies?
For example:

1st. open position: Lot: 1.0 EUR/USD
2nd. open position: Lot: 1.0 EUR/USD





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IFX Kirill
post Apr 13 2010, 09:23 AM
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QUOTE (RahmanSL @ Apr 11 2010, 03:23 PM) *
In The competition rules it states:

3. Trading conditions

o 3.6. Minimum volume of a deal is 0.01, maximum - 1 lot. Step is 0.01 lots.

Does "maximum - 1 lot" means I cannot open 2 positions at the same time for1 lot each of any pair of currencies?
For example:

1st. open position: Lot: 1.0 EUR/USD
2nd. open position: Lot: 1.0 EUR/USD



This condition means that you can open a deal on any trading instruments with a volume not less than 0.01 lot and not more than 1 lot. The step means the possibility of increasing a size of a deal by 0.01 lot.



Regards, official representative Kirill Kuznetsov
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IFX Anna
post Apr 13 2010, 04:39 PM
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A new contest by InstaForex Company "Lucky Trader" is now on!
The administration of the Campaigns and Contests Department of the international online Forex broker InstaForex Company is glad to inform all its clients about the first contest start for demo-account traders "Lucky Trader". The new contest by InstaForex Company has more individual rules than before, according to which the winner of each contest will be determined not only by the deposit gain for the accounting period, but on the basis of the profitable deals quantity. Find more information in the rules of "Lucky Trader" contest.

Hurry up to participate and win!

At the present moment, the number of registered participants of the first "Lucky Trader" contest has already overcome 2000 people.



Regards, official representative Anna Lukina


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RahmanSL
post Apr 14 2010, 03:24 PM
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What does "Rate" mean on the Lucky Trader Contest? Is "Rate" the position/ranking of contestants in the competition?

Thank you.



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Juan Grande
post Apr 15 2010, 07:13 PM
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3.8. Maximal number of deals including pending orders is 10.

Does this rule mean --

that a maximun of 10 trades (deals) may be open at one time?

or

that we may only place 10 trades over the life of the contest?

Thanks

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IFX Kirill
post Apr 16 2010, 08:35 AM
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QUOTE (RahmanSL @ Apr 14 2010, 03:24 PM) *
What does "Rate" mean on the Lucky Trader Contest? Is "Rate" the position/ranking of contestants in the competition?

Thank you.


In accordance with point 5.4 of the contest rules:

QUOTE
For winners determination InstaForex Contests and Campaigns Administration will use rating, which is calculated by summation of all positive deals profit and subtraction of all negative deals losses with the only limitation: every positive deal will give NOT MORE than 10 points to your rating.



Regards, official representative Kirill Kuznetsov
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IFX Kirill
post Apr 16 2010, 08:39 AM
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QUOTE (Juan Grande @ Apr 15 2010, 07:13 PM) *
3.8. Maximal number of deals including pending orders is 10.

Does this rule mean --

that a maximun of 10 trades (deals) may be open at one time?

or

that we may only place 10 trades over the life of the contest?

Thanks


This rule means that you can not open more than 10 deals at one time.



Regards, official representative Kirill Kuznetsov
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tenderex
post Apr 16 2010, 02:27 PM
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QUOTE (IFX Kirill @ Apr 16 2010, 09:35 AM) *
In accordance with point 5.4 of the contest rules:


Could you please explain by way of an example exactly how your Rule 5.4 is applied ? I find the wording of the Rule very confusing and not at all helpful for competitors to engage in fair and equal competition !

To put it another way, I would like to know how my rating is calculated ?

Thanks.
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IFX Katerine
post Apr 17 2010, 08:52 AM
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Why isn't this fair? It is a contest and contest should be interesting and fascinating, that's why an organizers make up stright rules.

What about the rating, let say R is rating, L is losses, then the rating's formula is R=10x - L, where x is a number of positive deals.



Regards, official representative


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tenderex
post Apr 17 2010, 08:47 PM
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QUOTE (IFX Katerine @ Apr 17 2010, 09:52 AM) *
Why isn't this fair? It is a contest and contest should be interesting and fascinating, that's why an organizers make up stright rules.

What about the rating, let say R is rating, L is losses, then the rating's formula is R=10x - L, where x is a number of positive deals.



Thanks for the info. This explains somewhat why the guy at the top of the log has a rating of about 2400+ while my account is still floundering at the bottom of the pile ! But not to worry, just watch me perform next week .................
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IFX Katerine
post Apr 19 2010, 03:55 PM
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QUOTE (tenderex @ Apr 17 2010, 09:47 PM) *
Thanks for the info. This explains somewhat why the guy at the top of the log has a rating of about 2400+ while my account is still floundering at the bottom of the pile ! But not to worry, just watch me perform next week .................

I was glad to help you. Good luck in the next contest!



Regards, official representative


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musicana
post Apr 22 2010, 12:50 PM
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hello all
the concept of the lucky trader contest is awsome but i am a litle confused here as i see my stat that i have loss trade that i don't have in the instaforex client terminal and also i have trade 390 lot and i only lost 10 lots in that tarde but i see that my rank is 1886

could someone explain to me how are the rank is calculated and if there is a problem with the contest page in the website of instaforex.


cherres for all
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IFX Katerine
post Apr 22 2010, 04:16 PM
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Hello.
The rating's calculation formula was described a few posts above.

If you have doubts concerning your rating's right, please, send your pretension to tournament [at] instaforex.com. Do not forget to specify your contest account number.



Regards, official representative


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RahmanSL
post Apr 23 2010, 04:31 PM
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I noticed on "Lucky Trader" competitors' current position standing page that the word "Rang" is incorrect as that word should be spelled as "Rank" which means "position" while the word "Rang" is past tense for "Ring" as in "ringing a bell".

In the competition, I seems to have gone against competition rules and has been disqualified from this weeks' competition. Is my disqualification due to opening 1 lot positions 10 times on the same currencies pair?
To be honest, I find the competition "Rules & Regulations" rather confusing and hard to understand.....like that word "Rang" which should be "Rank".

Thank you.



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IFX Katerine
post Apr 24 2010, 08:54 AM
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QUOTE (RahmanSL @ Apr 23 2010, 06:31 PM) *
I noticed on "Lucky Trader" competitors' current position standing page that the word "Rang" is incorrect as that word should be spelled as "Rank" which means "position" while the word "Rang" is past tense for "Ring" as in "ringing a bell".

Rhank you for your notice, the misprint will be corrected.

QUOTE (RahmanSL @ Apr 23 2010, 06:31 PM) *
In the competition, I seems to have gone against competition rules and has been disqualified from this weeks' competition. Is my disqualification due to opening 1 lot positions 10 times on the same currencies pair?

What is your contest account number? By the way, you can send your claim directly to the contest administration: tournament [at] instaforex.com.

QUOTE (RahmanSL @ Apr 23 2010, 06:31 PM) *
To be honest, I find the competition "Rules & Regulations" rather confusing and hard to understand.....like that word "Rang" which should be "Rank".

What is not understandable for you? Ask your questions, we will try to make the rules wordings more clear. smile.gif



Regards, official representative


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RahmanSL
post Apr 24 2010, 03:07 PM
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Hi Katerine,

My competition number is: 534045

Thank you for posting reply, but I am not “claiming anything” so there is no need to write to contest administrator.
It’s just that I am baffled as to the reason(s) for my disqualification; that’s all.

I find the following confusing at “Lucky Trader Contest Terms and Conditions”:

2. Participants
2.6. The Organizer reserves the right to decline registration of any participant without explaining the reason or disqualify any participant during the Contest with an explanation. The reason of disqualifying can be opening the big volume opposite orders with the same currency pairs in different trading accounts at the same time approximately, as well as usage of failures in the quote flow for getting guaranteed profit.

“…disqualify any participant during the Contest with an explanation.”
Does this mean all disqualifications will be explained by Contest Organizer as to the reason(s) for the disqualification(s).

“…reason of disqualifying can be opening the big volume opposite orders with the same currency pairs in different trading accounts at the same time approximately,…”
Is this referring to “Hedging” a currencies pair?? For example: “Sell” USD/JPY: 1 lot and at same time place “Buy” USD/JPY: 1 lot

“…usage of failures in the quote flow for getting guaranteed profit.”
I am sorry, but I totally do not understand the meaning of this part of the sentence.

Once again, thank you for your time and trouble; yah!



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IFX Katerine
post Apr 26 2010, 01:20 PM
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Dear Sir,

You were disqualified for the violation of the point 3.8. of the contest regulations:
QUOTE
3.8. Maximal number of deals including pending orders is 10.


On April 23, 2010 at 15:47:51 (GMT +2) 16 opened deals were found at your contest account. That's the only problem with your account. Please, be more attentive next time.



Regards, official representative


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RahmanSL
post Apr 27 2010, 03:00 PM
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Ok, so I have 16 opened positions on that day!....Strange, I couldn’t open more than 10 positions at any one time on the trading platform… But, I guess you people know better.

Now how about my account for this current week’s “Lucky Trader Contest: 26-April-2010 to 8-May-2010. Login: 544428".

As I have e-mailed to Contest organizer, I totally cannot execute any trades at all since start of contest on Monda, to right now this very second.
Perhaps I have once again infringed some other contest rules & regulations as well in this contest???

Thank you for your attempts to give me some tangible answers to my perplexing questions.




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IFX Katerine
post May 3 2010, 04:21 PM
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QUOTE (RahmanSL @ Apr 27 2010, 05:00 PM) *
Ok, so I have 16 opened positions on that day!....Strange, I couldn’t open more than 10 positions at any one time on the trading platform… But, I guess you people know better.

Now how about my account for this current week’s “Lucky Trader Contest: 26-April-2010 to 8-May-2010. Login: 544428".

As I have e-mailed to Contest organizer, I totally cannot execute any trades at all since start of contest on Monda, to right now this very second.
Perhaps I have once again infringed some other contest rules & regulations as well in this contest???

Thank you for your attempts to give me some tangible answers to my perplexing questions.

Maybe you have registered for the next contest, not current? Have you already received a reply from the administration?



Regards, official representative


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