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[OctaFX Rep]

Round 55 of OctaFX Champion demo contest: $1000 for the winners!

OctaFX Champion demo contest is a real challenge for the real champions, so let’s congratulate the traders of the month who were the best in Round 55! The prize fund of $1000 was shared between the following Forex masters:

• 1st place with the award of 500 USD goes to Mr. Dejan Kostovski from Macedonia.
• 2nd place with the award of 300 USD goes to Mr. Yuliantono from Indonesia.
• 3rd place with the award of 100 USD goes to Mr. Adi Putra Nugraha from Indonesia.
• The last place is Mr. Zainal Efendi from Indonesia who has won 100 USD

What are their secrets of success and trading experiences? Here are a few exciting stories from our champions!

1st place: Mr. Dejan Kostovski from Macedonia
Being an OctaFX Champion feels great. It feels great to know that, for a moment in time, you were the best at something you wanted.

Usually I trade during the London and the US sessions (and sometimes Tokyo too) always looking for a good opportunity to enter the market. Economic calendar is helping a lot, so my trading is somehow scheduled. I pay close attention to the announcements because it’s quite probable that they may affect the direction of the market. There were a few days when I was very active and trading took a lot of my time.

My focus is mostly on the real trading, but I'd like to continue participating in all your contests - they are all very good. Also, I'd like to win again.

When I saw the ranking just 6 days before the end of the contest, I looked at the Economic calendar and decided to trade during the most probable market-moving events.

I had a plan to take the risk on the last day of the contest to become the winner. So it worked.

To be honest, in this Round of OctaFX Champion demo contest I didn't use any specific strategy. I just traded during the most influential events. Also, to climb the ranking list and to make a big profit on the last day of the contest I had to risk. I tried to anticipate how much EURUSD and GBPUSD will move and scalp all the way down. My most spectacular gain was when the non-farm payroll numbers were announced and the Consumer Price Index numbers came out. I had some loss too, but only once. It was just 20%.

If you ask me for a piece of advice, I believe that there is no particular amount of time needed for a trader to become a real pro. Advanced traders say they learn new things every day as they continue to improve, so continuity and consistency are the most important points here. Good traders are those who are able to adjust their strategies and to learn about themselves.

But if I were to generalize, it takes at least 6 months or up to 2 years of active trading to become quite a skilled trader.

2nd place: Mr. Yuliantono from Indonesia
I’m very happy and proud to take the second prize! I don’t trade too much and too often; only when I have some free time. However, contests have always been appealing to me, I think it’s a great opportunity.

What is my key to success? Patience and discipline, of course. There is nothing more important in trading than patience and discipline. The strategy that I use is based on the shape of the candlestick. I will continue to explore this technique in the future. I also get the greatest profits when the major news are released.
It took me quite a long time to master my trading techniques. I believe one has to practice from 5 to 10 years to become a good trader.

3rd place: Mr. Adi Putra Nugraha from Indonesia
I’m glad to be in the list of winners! I don’t spend a lot of time on trading in general and on contests in particular, it’s some kind of fun for me, so it was a pleasant surprise to get a prize. I’m not sure I will participate in any other promotions in the future, but it was anyway great to take part in this OctaFX Champion round. My favourite strategy is to be able to control emotions. It’s not too easy and it takes some time, but at the end of the day, it’s worth it.

The last place: Mr. Zainal Efendi from Indonesia
Of course, I want to improve my performance! My goal is to beat the other contestants and become the champion in the next round. I got a valuable lesson and I want to try some other techniques next time. Yes, there are some things that I want to repeat again, hopefully they will work better in the future. For me, Buy Limit & Sell Limit are the keys to maintain profits and avoid losses. Talking about time, it takes no less than 3 years to be a good trader, but I guess I have to go on learning and practicing!

OctaFX Champion demo contest offers a $1000 prize fund and an excellent opportunity to test your trading skills without any financial risk. All you have to do is to trade within a month and become the round leader by the finish date! OctaFX Champion demo contest is easy to take part in: just register here and become one of the champions!

OctaFX Champion demo contest: bringing success

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[OctaFX Rep]

cTrader Weekly demo contest, Round 53: $400 for five winners!

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Ready to hear the results of OctaFX cTrader Weekly demo contest Round 53? Five outstanding traders shared the well-deserved prize fund of $400, and here they are:

• 1st place with the award of $150 goes to Mr. Puji Harno from Indonesia.
• 2nd place with the award of $100 goes to Ms. Sutini from Indonesia.
• 3rd place with the award of $75 goes to Mr. Misran Marbawi from Indonesia.
• 4th place with the award of $50 goes to Mr. Mahmoud Ahmed Abed Alaziz from Egypt.
• 5th place with the award of $25 goes to Mr. Prabhulal Rugnathbhai Rupala from India.

OctaFX cTrader Weekly demo contest is quick and easy to participate in. Every new round takes just a week, so if you don’t like to trade and wait for the long time, this contest is a right choice for you! All you have to do is open a cTrader demo account and trade. No deposit is required and no financial risks are involved. If you are not yet familiar with cTrader platform, here are some of its advantages:

• Direct Market Access brokerage capabilities;
• Mobile trading;
• Level II market depth;
• Full-size tick chart;
• Reverse position in one click;
• Double position in one click;
• Scale out positions;
• Close all open positions in a single click;
• ...and many more!

Don’t miss your chance and open a demo account to participate in the next round of cTrader Weekly demo contest!

OctaFX cTrader Weekly demo contest: try to win!

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[IrwanI]

Great

 

[outofphase]

Hello outofphase!

Thank you for your feedback!

Do you have some doubts about MT4, could you share your experience with us? Does anybody else except the broker you've mentioned use MT4+?

Best regards,
OctaFX Rep.

Sure thing. And sorry for the late reply--I don't spend a lot of time on forums as I couldn't care less. Trading is way more important to me. But, I do get the occasional fire for justice burning, and if I am bored, I go rant on FPA ;-)

Anyway, re MT4, of course I have doubt. Actually, it isn't doubts anymore since it has been years that the whole Metaquotes scam has been revealed and documented. cTrader server, by the way, offers brokers the exact same capability that the MT4 server does. So, it's up to the broker to decide not to use it.

The main issue with MT4 is that you cannot really trade off a Level 2 window, a real Level 2, and you can't provide liquidity on an ECN if you wanted to, but only consume liquidity. That is a major flaw to say the least. Also, MT4 is limited in terms of how fast it can process price stream updates, and so on.

Other issues with MT4 include a clunky and poorly designed user interface that slows the user down. Compare that to placing and managing trades with tradingview.com or tradable.com. Or Ninjatrader. Or MotiveWave. Or for a real professional trading station: FlexFX: http://flextrade.com/buy-side/flexfx/ .

Where algo development is concerned, cTrader is a step up compared to MT4 MQL scripting engine, which wastes so much memory. C# is indeed better. But, where is the contained app that would allow us to connect to a REST API via Python or any language that has networking libraries available and provide a dashboard to monitor risk exposure and manage all active and pending trades?

Finally, to answer you last question, I am not aware of any other broker offering the same enhanced MT4 as JFD does.

I would recommend to all technical traders or wannabe traders reading this to set up your trading station as follows: use the best chart app available to do your technical analysis (and that's not MT4). Then once you are ready to place your trades, use an order entry and management app that the broker should provided: basically an app that will show you Level 2 and will let you send your orders to the execute engine and manage those orders; this app does not need to have charting capability--all you need is a way to place your trades. So, in this sense, MT4 is really not needed. Brokers could very easily provide even an HTML5 UI (as LMAX does) which shows a trading panel with level 2 for all instruments available. Not only it would cost the broker less since now they won't have to pay licensing fees to Metaquotes, but would also improve the clients trading experience. Charting can always be taken care of by tradingview.com, which IMHO is the best out there. For comparison, ChartIQ doesn't even come close to what tradingview.com offers in terms of ease of use and fully complete libraries of technical indicators and automated strategies as well as a coding editor (although their programming language sucks, I am afraid to say).

 

[OctaFX Rep]

OctaFX: changes in trading conditions for US30, NAS100, SPX500​

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OctaFX updates trading conditions for US indices. We would like to inform you that starting from 31.10 leverage for US30, NAS100, SPX500 indices will be lowered from 1:50 to 1:10 on Metatrader 5 trading platform. Leverage will be lowered from October 31 till November 14 due to the probable high volatility that can occur during US president elections.

We would like you to be aware that further changes can be made depending on market volatility.

We would like to apologize for any inconvenience caused. Please, contact our Customers Support in case you have any questions. If any failures occur, please report immediately tosupport@octafx.com.

 

[OctaFX Rep]

OctaFX trading schedule changes due to the end of Daylight Saving Time
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OctaFX team would like to notify you that on Sunday, October 30, Daylight Saving Time ends in Europe. Please, note that Forex market and our servers convert from EEST to EET on this date. Our server time will be EET (Eastern European Time) starting Sunday, October 30. Don't forget to consider this fact while planning your trading.

Please note, that on Friday, November 4th, 2016, trading on all available instruments will be closed at 23:00 EET (Server Time), due to the fact that the USA converts to Standard time a week later.

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Trading hours will return to normal from Sunday, November 6th, 2016.

Moreover, starting from October 31st to November 4th, 2016, trading on metals, oil and indices will be opened and closed 1 hour earlier than usual (server time). Don't forget to consider this fact while planning your trading.

Here is the timetable for your convenience (October 31st - November 4th):

*Please mind that blackout for some indices shifts accordingly:

For AUS 200 blackout time is 08:30-09:10 EET (instead of 09:30-10:10)
For US30, NAS100, SPX500 blackout time is 22:15-22-30 EET (instead of 23:15-23:30)

Please, consider the fact that any open trades upon closure of trading hours will be rolled into the next day.

We would like to apologize for any inconvenience caused. Please, contact our Customers Support in case you have any questions. If any failures occur, please report immediately to support@octafx.com.

Thank you for choosing OctaFX as your top-notch Forex Broker!

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[OctaFX Rep]

Welcome cTrader weekly demo contest Round 54 winners!

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One more round of cTrader weekly demo contest is over, and the results of the contest are announced. While our Round 54 winners celebrate their victory, all traders who want to test their trading abilities can jointhe contest. We are glad to award prizes to the distinguished winners:

• 1st place with the award of $150 goes to Mr. Czeslaw Socha from Poland.
• 2nd place with the award of $100 goes to Mr. Olexandr Korobkin from Ukraine.
• 3rd place with the award of $75 goes to Mr. Moh. Hanafi from Indonesia.
• 4th place with the award of $50 goes to Mr. Gang Chen from China.
• 5th place with the award of $25 goes to Mr. Yasunori Nakatsuta from Japan.

If you are still wondering if cTrader Weekly demo contest is a good fit for you, here are a few advantages for you to consider:

• Free of charge. No registration fee or other expenses. Get a demo account and trade - for free.
• A chance to win real prizes. The prize fund comprises $400 and is divided among five winners.
• Fast. The duration of cTrader Weekly demo contest is 1 week, so it won’t take you long to get your prize.
• Learn and improve. cTrader Weekly is a demo contest which makes it an ideal place to test your skills and develop your abilities with no risk.

It is very easy to take part in our contest, just open a demo account to participate in the next cTrader Weekly demo contest round!

OctaFX cTrader Weekly demo contest: demo trading, real experience!

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[OctaFX Rep]

Changes in trading conditions due to US President election

Dear customers, in addition to the update of trading conditions for US indices due to the coming US President elections we would like to inform you about the following changes in trading conditions taking place from November 7 till November 9th across all platforms and accounts.

• Leverage will be lowered to 1:200 for currency pairs and to 1:50 for metals and oil.
• Margin requirements will be increased 5 times for accounts with the balance higher than $10000 (or equivalent).

This is all due to the fact that higher volatility, low liquidity and spreads widening are expected during US President election period. Trading conditions are expected to get back to normal on 00:00 EET (Server time) November 10.

We would like to remind you that starting from 31.10 leverage for US30, NAS100, SPX500 indices will be lowered from 1:50 to 1:10 on Metatrader 5 trading platform. Leverage will be lowered from October 31 till November 14.

Please consider this information while planning your trading.

We would like you to be aware that further changes can be made depending on market volatility.

 We would like to apologize for any inconvenience caused. Please, contact our Customers Support in case you have any questions. If any questions occur, please contact us at support@octafx.com.

 

[OctaFX Rep]

OctaFX Champion demo contest Round 56 became truly Indonesian!

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Round 56 of OctaFX Champion demo contest is over, and our participants are ready to share their trading experience that led them to success. This round became truly Indonesian - all positions have been occupied by participants from Indonesia. Our four luckiest traders can now share $1000 prize fund according to their places:

• 1st place with the award of 500 USD goes to Mr. Lalu Putra Setia Derajat from Indonesia
• 2nd place with the award of 300 USD goes to Mr. Iqra Wirya Dinata from Indonesia
• 3rd place with the award of 100 USD goes to Mr. Marsanto, Sp from Indonesia
• The last runner in the contest, Mr. Soehartono from Indonesia is granted 100 USD

Do you want to know how to keep winning and never give up? Here are a few exciting stories from our champions!

1st place: Mr. Lalu Putra Setia Derajat from Indonesia

I am so happy to know that I’ve become the winner of this legendary contest! I can’t believe that this finally happened, because I didn’t trade too much and too often, only when I had some free time. This victory will be a good stimulus to join all contests and promotions held by OctaFX! My key to success is based just on two points - faith and patience. I tried to be very concentrated and went with the market flow, that’s it. The best profit I made was in GBPUSD pair and how lucky I am - no great loss at all! In my opinion, it takes about three months to become a good trader who can earn a consistent profit.

2nd place: Mr. Iqra Wirya Dinata from Indonesia

Thanks for having such a great contest! I am very pleased to be involved in the contest, although I did not spend a lot of time while trading. My plan is to do my best in order to achieve better results, so I will definitely participate in other OctaFX contests and promotions. If you ask me about my key elements for successful trading, I will tell you that you have to stay calm and control your emotions. The strategy that helped me was to follow the direction of the MA trend, nothing seems to be more perfect than that! According to my experience, learning as well as practical work take months and years to become a good trader, the time that you have to spend to become an exceptional trader is unlimited, take your chance!

3rd place: Mr. Marsanto, Sp from Indonesia

I am very pleased to be among the winners! I would never believe that I could change the capital of 1000 USD to 54000 USD. It was really surprising to me and changed my opinion about Forex trading, now I feel more confident.

This was the first time I participated in the contest seriously, I was concentrated and focused on, although I felt desperate when my equity plummeted. If you have ever experienced anything like this, you will definitely understand how glad I am now and how my mind changed after this contest. I think I will try to trade on a real account using the prize funds. Of course, I won’t put everything because I also want to use money. I will trade with my Micro OctaFX account.

What I needed to get profit was to stay confident and follow the market data. I was sure that USDJPY was in the range of 100-105 and trend of GBPUSD was down. But I often could not resist the urge to open buy GBPUSD. However, while trading on a real account I would try to be more certain with my own predictions. I used MACD and speculation and I made a mistake because I didn’t use the plan. XAUUSD was correct in my prediction, but because I was tempted, I set Profit Target irrational. So, it became my primary record to trade on XAUUSD.

In my opinion, two years seem enough to become a good trader, and don’t forget to be patient and disciplined all the time.

The last runner in the contest: Mr. Soehartono from Indonesia

I’m lucky to be on the list of the winners, but I’m sure that I will improve my results by joining in the Round 57 of OctaFX Champion demo contest and this time I will be ready to become the champion! I spent a lot of time and efforts on trading and I was focused on learning trend graph to open orders. But my strategy failed because I did not put the cut loss.

I usually trade on OctaFX accounts for approximately one hour at 7 AM, 3 PM and 9 PM.

This round was the anniversary for me - it was the 10th time I participated in the OctaFX demo contest and I had been in the 4th position two times.

Shortly about my strategy: Bollinger Bands (BB), moving average, 3 level ZZ semafor and focus on JPY. I've been trading almost for 19 years but I haven’t found a suitable pattern yet, but if you are able to learn with patience and commitment, I think you can become a proficient trader in a year.


Are you ready to try the OctaFX Champion demo contest yourself? It just takes a few moments to join our fantastic competition. Just register here and accept the challenge!

Join the OctaFX Champion Demo contest today!

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[OctaFX Rep]

Trading conditions will be reverted back to normal November 10​

Dear customers!

OctaFX would like to let you know that company’s financial position has not been negatively affected during US Presidential election period.

We would like you to be aware that changes that took place during US President election period will be reverted back to normal tonight, November 10th. In order to make this happen we will perform a 10 minute scheduled technical maintenance. Trading won’t be available November 10 from 00:00 EET (Server time) till 00:10 EET (Server time).

Please consider this information while planning your trading.

In case you have any questions, don’t hesitate to contact our award-winning Customer Support: support@octafx.com.