New contest!
And Some New Rules!
I am very happy to announce that this contest is sponsored by
CMS Forex. The FPA is running the contest, and
CMS Forex is very kindly donating the prize money.
- First place will be $1000 (1 prize)
- Second place will be $500 (1 prize)
- Third-Fourth place will each be $100 (2 prizes)
- Fifth-Seventh will be $50 (3 prizes)
- Special Prize! will be $150 (1 prize)
Note: In the event that a winner is from a country where funds cannot be legally transferred to the winner, then the winner may select an internationally recognized humanitarian or environmental charity to receive the prize money.
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Prizes can be sent to winners by
PayPal, Check, or Western Union.
The idea is to use your market prediction skills to estimate the price of the EURUSD and GBPUSD on a specific day a couple of weeks from now. You can use fundamental analysis, technical analysis, a combination of the two, or any other method you want. Prizes will be determined by who's estimate comes closest to the actual value at the end of the contest. Please see the detailed rules below for more information.
For this contest, CMS Forex is not only the sponsor, but also will serve as the official data provider. To follow along and see the final data that will determine who the winners are, you have to visit and download a copy of CMS Forex's VT Trader trading platform here:
Contest #3 Rules
Note: Just so that no one jumps in too quickly, the contest entry page will not accept entries until
market open at about 5:15 PM (New York Time) on Sunday, June 28th, 2009.
Please read these rules VERY carefully before entering.
1. Entries: You need to
predict the bid price of the EURUSD and GBPUSD to the nearest pip at noon (12 PM New York Time)
on Friday, July 10th, 2009. This should be a 5 digit number (only use 4 digits past the decimal for each number). If you use less than 4 digits after the decimal we will assume the remaining digits are zeros (1.93=1.9300). If you enter more digits after the decimal, the extra numbers might or might not be displayed, but will be rounded off. Make sure to put the decimal in the right place. Total number of pips deviation for the two pairs will determine the winner.
You must also include your CMS VT Trader account login. If you have a live account with CMS Forex, you can give that login name. Otherwise, please download a demo copy and give the login name for your delo account.
2. Tie breaker: In the event that there there is still a tie remaining, the first entry posted will be the winner of the tie.
3. Entry form: Only entries made in the entry form are valid. Entries posted in this thread elsewhere in the forums, or by email will be ignored and will probably be deleted. Entries submitted via other means will also be ignored and will probably be deleted.
Make one and only one entry. Anyone making more than one entry will be disqualified. In the event of a system error causing entries to be duplicated, we will delete any duplicate
identical entries that are placed within a few minutes of each other.
Only one entry may be made per CMS Fx account login.
Do not attempt to change your entry once it is submitted. If we catch anyone attempting to do this, you will be disqualified and the Contest Director will think of something very unpleasant to do to you.
All entries must include a valid CMS Forex account login name. Entries that do not include the account name, EURUSD price and GBPUSD price will not be considered valid.
4. Data Provider: The data provider for this contest will be CMS Forex. Their
free VT Trader demo account will provide us with the prices we need to determine the winners. In the unlikely event a problem occurs with the data feed on the end date, we will take data from the market opening on the following Sunday instead.
5. Determining winners: Sometime after 12 PM (New York Time) on Friday, July 10th, we will look at the opening price of the noon hour BID and ASK bar for both the EURUSD and GBPUSD on CMS Forex's VT Trader demo platform. We will then post the average of the BID and ASK prices for each pair in the contests area, will lock them in on the winner's page, and begin the task of determining which people came closest to predicting the price of the EURUSD and the GBPUSD. The total deviation will be counted. Total deviation is the sum of the absolute values. This means that 5 pips deviation on EURUSD and 5 pips deviation on GBPUSD is a 10 pip deviation no matter whether the individual deviations were +5 pips or -5 pips.
6. Where to place entries: Once the contest opens, entries should be placed here:
Forex Peace Army Contest Entry Page. Entries posted anywhere except the entry page will be deleted or ignored.
7. Entry deadline. All entries must be posted by noon (New York Time) on Friday, July 3rd, 2009. Any entries made after that time will be deleted.
Note that CMS login names (demo or real) associated with entries must have been registered PRIOR to the time of entry. Failure to do so may disqualify that entry.
8. Collecting winnings: We will send an email to the address listed in the forum account of each of the winners within 3 business days of the end of the contest. Each winner may give us their their choice of how they wish to receive the money as well as the correct info we need to deliver it (PayPal, check, or Western Union).
9. Legal note: This contest is run by the Forex Peace Army and is thus governed by US Law. Since this contest involves the skill of predicting potential outcomes of financial events, it is considered to be a contest of skill and not a random drawing. Thus, we believe that it is not subject to rules and regulations governing random drawings. Since no actual forex trades need to be placed, rules and regulations regarding forex trading also should not apply. US Tax Regulations require us to report any prizes of over $600 to the IRS on a 1099 form for US citizens and residents. If this form is necessary, we will have to collect enough information from that prize winner to fill out the form before sending the prize money.
The FPA extends sincere thanks to Kevin Conway of the law firm of
Conway & Conway for consulting with us on the rules of the contest.
10. Addition of rules: The FPA reserves the right to add additional rules and prizes as long as these do not adversely affect those who would win under the initial rules of the contest.
11. General rules: FPA General Contest rules are here...
FPA General Contest Rules.
Once again, the FPA would like to thank
CMS Forex for generously agreeing to sponsor this contest.
NOTE: You MUST have an FPA Forum account to enter. The password for the Daily Trading Signals is probably NOT the same as your forum account. If you have a forum account and can't remember your password, please go here...
Forex Peace Army Forum - Lost Password Recovery Form
If you don't have a forum account, enter your name and the same email address you used to sign up for the Daily Signals in the upper-right corner of this page. You should then be taken to the sign up form. If you have any problems with this, please use the "Contact Us" link at the bottom of the page.
If you have any questions about the rules, please post them in this thread
before placing your entry. Once you place your entry, it cannot be changed under any circumstances.
Some people like to wait until the last moment to make their entries. For those who decide to enter early, there's a better chance at a special prize of
$150.
On the
Winners Page, I've added a section that keeps track of every time an entrant's name appears in the top 10 list. Each time this happens, that person gets 1 point. The more times a name appears in the top 10, the more points. The list is updated every 15 minutes. At the end, the person who was in the top 10 the most times wins $150.
The Rules:
1. Entries: Entering the main contest automatically enters participants in the Special Prize contest.
2. Determining winners: Each time a person is on the top 10 hypothetical winners list, they get 1 point. Points are counted from the opening of the contest until the final winners list is posted. The person with the most points wins.
3. Multiple Wins: Winners of the main contest are eligible to also win the special prize.
4. Tie Breaker: In the event of a tie in the number of points for the special prize, the first person to enter wins.
If you haven't already placed your entry, you can do it soon. That will give you more chances to be on the Hypothetical Winners List and get more points. Once you've entered, you can check the
Winners Page to see if you are among the top contenders not only for the main prize, but also for the special prize.