http://forexforums.dailyfx.com King of the Micro Trading Contest - We are awarding $40,000 in prize money monthly ! Will You Be King of the Micro ? en Sun, 22 Nov 2009 00:06:54 GMT vBulletin 60 http://forexforums.dailyfx.com/images/dfx2009/misc/rss.jpg http://forexforums.dailyfx.com http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/127541-did-i-join-contest.html Fri, 20 Nov 2009 22:05:29 GMT I didn't close all positions at the beginning of this month. Is there anybody can tell me what the rule is with the open positions?

Thanks in advance. ]]> charles1 http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/127541-did-i-join-contest.html http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/124945-my-trading-experience-comments-needed.html Sun, 15 Nov 2009 14:35:25 GMT Hi Everybody, I have recently been keen to... Hi Everybody,

I have recently been keen to FOREX and started reading throughout internet about it. Then, I wanted to kick start to test and possible live on trading later.

I started practicing with FXCM MICRO $5000 demo account. I managed take the account to $6700+ in just one day (I was trading continiously). Then, I decided to start from $340. So, I took loss and took the account to $380 and started trading. I was taking small profits like $1, $2, $5 or even $0.33.

LATER AFTER 2 DAYS PRACTICE DAY AND NIGHT.
I opened an account with FXCM MICRO and deposited my first real $300.

I traded and took profits like $0.33, $1, $7 and so on. and took this account to $425 in just one trading day.

The next day, I started trading again and the market is against me. I kept on shorting untill the margin call kicked me out to $265 and then I GOT AGGRESIVE and wanted to recover the loss. YET I LOST ANOTHER round there and my account fell to $69 and kept on going lower and lower to $35 to $12 untill I added another $280 dollars.

and took one profit of around 25 dollars. So my balance was $312+ and then did not take $28 dollar profit instead i was looking for more (GREED) and ended up looosing around $65.


NOW I am sitting at $245 with a 25K buy of USD/JPY at the current market price.

What do you think of my experience ?
Please give me Suggestions on how I can make consistence profits ?
What were my mistakes ?
Will I be able to make profit from my ENTRY of USD/JPY ?
More comments and suggestions please. ]]> testtrader http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/124945-my-trading-experience-comments-needed.html http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/124908-unfair-contest.html Sun, 15 Nov 2009 03:42:33 GMT With the new margin requirements that will have a... With the new margin requirements that will have a significantly negative impact to US accounts, will the King of the Micro contest be altered at all to make the playing field even? If not, wheres the form to transfer my account to a UK account? It has seemingly disappeared off of every micro link that mentions it. I say this being up nicely this month already and I would be really pissed off if I ended up losing a contest because a new rule was implemented in the middle of the month that ended up costing me the win/money. Doesnt seem as though anyone gave this much thought with regard to its affect on the contest. ]]> nebula9 http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/124908-unfair-contest.html http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/123510-king-micro-oct-2009-results.html Wed, 11 Nov 2009 13:33:23 GMT *The top 10 traders for October , 2009 trading... The top 10 traders for October , 2009 trading day are below*. These results are for the complete month of October. All results are currently pending and trading records will be posted after final confirmation.






1 - China - 1540.23%

Trading History



2. - China - 1101.65%

Trading History



3 -Canada- 888.05%



4 - Canada- 616.22%



5 - China - 377.3%



6 - United States - 374.56%



7 -Australia - 341.51%



8 - Pakistan - 323.85%



9 - United States- 278.86%



10 - United States- 256.87%

Good luck with your trading!

Walker E.

*Past performance is not indicative of future results, as returns may vary according to market conditions. ]]> Walker E. http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/123510-king-micro-oct-2009-results.html http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/122834-new-margin-requirements-screw-u-s-kotm-participants.html Mon, 09 Nov 2009 21:22:37 GMT Well it looks like those of us still interested... Well it looks like those of us still interested in participating in the contest will be (in a way) at a significant disadvantage due to the leverage(or lack thereof). We are essentially forced into converting our accounts to UK-based accounts just so we can have a fair chance at winning.

With a $500 balance and the GBP/USD costing $17 per lot, we would have to put up nearly 35% of our account balance on a trade just to get $1 per pip whereas before it would only take $5% of our account balance to achieve that same $1 per pip.

UK accounts will still have anywhere from roughly 200:1 to 400:1 leverage while our US accounts will be anywhere from 60:1 to 100:1. Obviously less leverage is a safer bet, but you will certainly not be getting 1600% return (for 1st place) at 60:1 leverage!

I've already applied for my account to be transferred over so we'll see how it goes.

Any comments are welcome!

Regards~ ]]> finiti http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/122834-new-margin-requirements-screw-u-s-kotm-participants.html http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/122801-king-micro.html Mon, 09 Nov 2009 20:15:27 GMT where do i get the october 2009 king of the micro... where do i get the october 2009 king of the micro results? ]]> dhanalakshmi37 http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/122801-king-micro.html http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/119319-withdrawal-deposits-time-specific.html Sat, 31 Oct 2009 01:35:23 GMT I like to clarify on time specific questions on... I like to clarify on time specific questions on the beginning equity of the account.

If I would to withdraw deposits from my account between
the close of the trading day (5.00 PM New York time) on the last day of the month
and before 5:15 PM New York time on the first day of the month.

1) How will these affect the balance of the account for the contest (is there a time stamp on account equity?)

eg. If I make $1000 withdrawal before 5.15pm the first day from an account of $1500. Will the account start with $1500 or $500 for the contest?

2) Eligibility of the contest (withdrawal rules)?

based on the below rules


-----------------------------------------

3. CONTEST TRADING ACCOUNT
In order to win the monthly prize, traders must have a minimum balance of $500 by the first trading day of that month. All FXCM Micro accounts with a minimum balance of $500 at the beginning of the month are automatically entered in the contest. Withdrawing funds from your account during the duration of the contest will disqualify you from the contest.

5. DETERMINATION OF THE WINNERS
Each month the top three traders will be determined as follows: The FXCM Micro account will be marked to market at 5:15 PM New York time on the first day of the month and on the close of the trading day (4.59 PM New York time) on the last day of the month in order to determine the Entrant's beginning ledger balance and ending ledger balance. ]]> microking http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/119319-withdrawal-deposits-time-specific.html http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/115974-king-micro-ytd-results.html Fri, 23 Oct 2009 23:12:16 GMT I'd like to know if there's a possibility of posting all results under one Thread? The Current Monthly results seem to be scattered throughout the forum in disarray.
It would be a Huge help to have them under one heading for discussion purposes, as well as review.
Any help is appreciated.
Pippdaddy ]]> dibs01 http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/115974-king-micro-ytd-results.html http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/109390-am-i-entered-months-king-micro.html Sun, 11 Oct 2009 10:42:33 GMT Hey Guys,

I didn't have $500 in my account on the 1st of this Month, and i only deposited money on the 8th.. Can i still be part of this Months Competition. Even though i made 8 Days late??

Thanks ]]> claudfs88 http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/109390-am-i-entered-months-king-micro.html http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/109389-wonder-how-micro-trader-5000-max-balance-can-claim-40000-king-micro-award.html Sun, 11 Oct 2009 10:01:48 GMT Can anyone please explain how a micro account... Can anyone please explain how a micro account holder can have more than $5000 in his balance, if he wins the King of micro contest? ]]> FX_RoMi http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/109389-wonder-how-micro-trader-5000-max-balance-can-claim-40000-king-micro-award.html http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/108317-king-micro-sept-2009-results.html Tue, 06 Oct 2009 20:06:06 GMT *The tentative top 10 traders for Sept, 2009... The tentative top 10 traders for Sept, 2009 trading month are below*. These results are for the complete month of September. All results are currently pending and trading records will be posted after final confirmation.





1 - United Kingdom - 1432.86%

Survey
Statement



Statement

2 - China- 1114.66%



Survey
Statement

3 - United States - 879.32%



4 -United States - 808.49%



5 - United States- 706.02%



6 - Kuwait - 590.89%



7 - Estonia - 554.84%



8 - United States- 403.36%



9 - China - 396.40%



10 - United Kingdom- 383.63%

Good luck with your trading!

Walker E.

*Past performance is not indicative of future results, as returns may vary according to market conditions. ]]> Walker E. http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/108317-king-micro-sept-2009-results.html http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/107961-king-micro-octobers-top-10-daily-traders.html Mon, 05 Oct 2009 19:44:50 GMT The top 10 traders for the October 16, 2009... The top 10 traders for the October 16, 2009 trading day are below*. These results are not month-to-date. They are only for the 24 hour trading day of October 16 , 09 .


1. United States - 466.09%


2. Canada -352.29%


3. United States- 348.72%


4. Canada - 340.38%


5. United States- 330.34%


6. China- 241.16%



7. China - 227.03%


8. Japan - 195.82%


9. United States - 195.81%


10. Canada - 192.01% ]]> Walker E. http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/107961-king-micro-octobers-top-10-daily-traders.html http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/100442-contest-rules-questions.html Fri, 04 Sep 2009 12:28:35 GMT I have a questions regarding rules 8 and 10 of... I have a questions regarding rules 8 and 10 of the KING OF MICRO contest:

================================================== ========
RULE 8 States :

" 8. NO PICKING
At FXCM's discretion, entrants may be removed from the contest for employing trading techniques including but not limited to, "picking", use of orders or Margin Calls inappropriately, and over-leveraging. Receiving a Margin Call is grounds for disqualification."

Questions:
1. What do you mean by " Picking " ?

2. What do you mean by using " Orders Inappropriately" ?

3. What is your definition of "Over-Leveraging" ?

================================================== ========

Rule 10 of the KING OF MICRO states:

"10. DISENTITLEMENT
FXCM has sole discretion to disqualify any Entrant found in violation of the rules of the contest or applying inappropriate trading strategies. "
Questions

1. What is your definition of " Inappropriate Trading Strategies " ? ]]> tradingkevin http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/100442-contest-rules-questions.html http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/100155-king-micro-august-2009-results.html Thu, 03 Sep 2009 12:23:57 GMT *The top 10 traders for August , 2009 trading... The top 10 traders for August , 2009 trading month are below*. These results are for the complete month of August. All results are currently pending and trading records will be posted after final confirmation.





Report
Survey
1 - Canada - 381.95%



Report

2 - Nigeria - 379.99%



Report

3 - United States - 363.23%



4 -United States - 358.08%



5 - Taiwan - 357.03%



6 - France - 326.47%



7 -United States - 296.12%



8 - United States- 271.16%



9 - China - 248.21%



10 - United States - 239.79%

Good luck with your trading!

Walker E.

*Past performance is not indicative of future results, as returns may vary according to market conditions. ]]> Walker E. http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/100155-king-micro-august-2009-results.html http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/99830-king-micro-septembers-daily-top-10-traders.html Wed, 02 Sep 2009 13:47:34 GMT The top 10 traders for the September 28, 2009... The top 10 traders for the September 28, 2009 trading day are below*. These results are not month-to-date. They are only for the 24 hour trading day of September 28, 09 .


1. Canada - 476.01%


2. United States -293.33%


3. United States - 242.83%


4. Singapore - 239.94%


5. United States - 226.08%


6. Japan - 158.01%


7. Canada - 154.44%


8. Hong Kong - 145.5%


9. United States - 145.44%


10. South Africa - 142.94% ]]> Helene Z. http://forexforums.dailyfx.com/king-micro-40-000-currency-trading-contest-interactive-trading/99830-king-micro-septembers-daily-top-10-traders.html