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Hello.
Just a quick update to let you guys know (if you don’t already) that it is time for the FX Street Trader of the Year competition.
From what I’ve read, it seems it’s a little different format than last year - the major difference being that you must trade a live account rather than a demo ($2,000 live) (I just saw that there is indeed also a demo contest if you’d like to participate in that as well).
It’ll be interesting to see how this (live contest) affects the outcome as it is very different (as most of you know) when trading live vs. trading demo. People will let their losses run (thinking it will eventually go in their direction) and cut their profits short. This is where trader’s must apply their money management to do the opposite - cut your losses short and let your profits run.
It also said that the winner will receive a proprietary trading position at Nord Markets - very cool.
The contest starts on May 4 so be sure to check it out here.
Good luck!