Forex Some tips for winning in demo contests

[FXOchartist]

Demo contests are one of the competitions for world traders because there are prizes up for grabs, this can be an opportunity for forex traders to earn capital without spending money from their pockets. Even the prizes in demo contests can be very large depending on the policies of the broker holding it.

The demo contest entitled "Ticktrader Challenge 3" sponsored by FXOpen will be held from December 4 to December 17 and registration has started with a total prize of $650, this will be participated by FXOpen traders from all over the world who will compete to win the prizes which are divided to several winners.

Of course, winning the contest is not easy because there are many competitors who also definitely want to win the contest. Some of these tips may be useful if you want to participate in free demo contests

• Follow the contest rules, this is mandatory for participants to avoid disqualification even if they succeed in getting the highest profit.
• Don't cheat, once again read the contest rules because there may be certain restrictions that participants cannot do.
• Use your mainstay strategy, don't experiment during the contest, you can experiment with a regular demo account which is separate from the contest.
• Focus on certain pairs, it will make it easier to implement strategies by paying attention to risk limits in the trading plan.
• Take bigger risks, the limited contest duration must be utilized well, use high risks because competitors will also do it to gain maximum profits.
• Use a trading robot if possible and you have a reliable trading robot.
• Stay calm during the contest, even if you experience a loss, your mind must be calm, it will make you focus on using the contest to learn.
• Improve trading results, you can monitor your competitors' profits and improve trading results to exceed their results.
• Don't give up, the competition is still going on, you have to compete until the end of the competition.

Anyone can be a contest winner, and it is not certain that previous winners can repeat their victory again, the chances of winning the contest are the same, making the best use of the contest duration allows you to become a winner

 

[Dita Walczak]

Technical tools and education are both inevitable for trading. You have to combine both of these at the time of trading. FXOpulence is a regulated trading broker, allowing traders with smart technology and narrow trading spread. They provide almost all indicators to traders.