Trading Challenges

hi, all.

Occasionally I get messages in my mailbox about upcoming trading challenges, organized by different brokers. Most of the time the period of the challenge is relatively short and the price money is good!

Maybe some us, especially the newer traders, like to challenge themself or compare their trading with a group of competitors. But be aware, maybe we may not call this challenges “trading” because to even come close to the yields of the winners, you have probably violate your own risk rules, because you have to trade with high leverage!!! But maybe that is the charme or better lesson to learn for many (beginning) traders, that they can experience the consequences of trading with high risk (leverage) within a real environment.

So let us post here all the upcoming challenges you are hearing off!!

I do hope that the babypips moderators are approving posting links of the challenge. I do not have relationship with the brokers I posting the challenges off. So I would appreciate that I do not get any warnings because of violating the forum rules. It is not my goal!!

If it is not allowed, just remove the whole thread!!!

For those who will go participate in one of the challenges, best of luck!!!
Maybe you can post your experiences and your endresult here in this thread under reference which challenge you participated in. If you like the idea of posting all upcoming challenge, maybe you can express this by “like” it, so the babypips forum knows that we, the members of the forum, appreciate this information.

Again, good luck!!

The first challenge I want to post is of broker Instaforex

http://www.instaforex.com/contest_forex_rally.php

A one day challenge 26th of September, price money 1.500$

I advice against trading competitions as they promote just about everything you should never do as a real trader. Sure, if you a bored and feel like putting all in one trade hoping to get it right and repeat the process a few times go for it. In my opinion it is waste of time. The money you may win (yes win as you do not earn it which is what real traders do) is likely to come with several restriction where you get it into your trading account and have to trade x-amount of lots which is where most newbies (doubt any serious traders takes place in those competitions) will lose their winnings as they will likely engage in a similar trading fashion they have used in the demo contest. Just my opinion on this matter (there are trading competitions in real accounts with real money which differ slightly, but in my book still something to avoid).