Yes, we have a new contest!
Last time, I had to steal the Asstmoderator's salary and pick Felix's pocket to get the prize money. This time, I am very happy to announce that this contest has a sponsor -
Tradeview Forex. The FPA is running the contest, and
Tradeview Forex is very kindly donating the prize money.
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- First place will be $1000 (1 prize)
- Second place will be $500 (1 prize)
- Third-seventh place will each be $100 (5 prizes)
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.
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 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, Tradeview 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 Tradeview's MT4 trading platform here:
Contest #2 Rules
Note: Just so that no one jumps in too quickly, the contest entry page will not be accept entries until market
open at 5:00 PM (New York Time) on Sunday, March 1st, 2009.
Please read these rules carefully before entering.
1. Entries: You need to
predict the bid price of the EURUSD to the nearest 1/10 pip at market close (about 5 PM New York Time)
on Friday, March 13, 2009. This should be a 6 digit number (only use 5 digits past the decimal - Tradeview supports 10ths of pips). If you use less than 5 digits after the decimal we will assume the remaining digits are zeros (1.932=1.93200). If you enter more digits, the extra numbers will be ignored, not rounded up or down. Make sure to put the decimal in the right place.
2. Tie breaker: On the second space of your entry, do your best to predict the bid price of the GBPUSD to the nearest pip at market close (5 PM NY Time) on March 13, 2009.
In the unlikely 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 or elsewhere in the forums 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.
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.
4. Data Provider: The data provider for this contest will be Tradeview Forex. Their
free MT4 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 the market closes at about 5 PM (New York Time) on Friday, March 13th, we will look at the closing price of the last 1 minute bar for both the EURUSD and GBPUSD on Tradeview Forex's
MT4 demo platform. We will then post the prices in the contests area and begin the task of determining which people came closest to predicting the price of the EURUSD. The GBPUSD data will
only be used for tie-breaking purposes.
6. Where to place entries: On Sunday, March 1, 2009, a link to the entry page will be posted in this thread. 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, March 6th, 2009. Any entries made after that time will be deleted.
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. General rules: FPA General Contest rules are here...
FPA General Contest Rules.
Once again, the FPA would like to thank
Tradeview 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.
FPA Contest #2 Rules -
02-25-2009, 02:21 AM
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