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The $100,000 Tradimo Trading Challenge: A Forex Contest That Measures Actual Skill

Jun 20 2013
By
Forexbrokerz.com
Correct me if I'm wrong but I say that everybody loves a challenge, and everybody loves a free $100,000. The peeps at Tradimo, the forex school & community, must share this opinion as they have just teamed up with Varengold Bank FX to start the $100,000 Tradimo Trading Challenge. 
 
The challenge will run for six weeks between July 14 and August 25, 2013, and will reward the 50 traders who demonstrate the best skills. The winner will be awarded a $100,000 trading bonus in their Varengold account, and will be invited to a two-week trading camp in Gibraltar. The $100,000 will no be withdrawable, however the winner of the challenge will be able to withdraw 15% of the profit they generate with this money. 
 
Traders who rank on positions 2 – 10 will be able to choose between two prize packages. The first one features a two-week trading camp in Gib and a platinum status at Tradimo for a month; option two offers one gadget – iPad 4, iPhone 5 or Samsung Galaxy S4 – and a month of platinum status treatment.  
 
Those who finish the challenge in positions 11 – 50 are obviously good but not quite good enough, so they'll each get a book on trading from Tradimo's list of recommended literature. 
 
In order to participate in the challenge, you would need to open a Varengold FX account through Tradimo and make sure that you have an equity of at least €1,000. 
 
If you don't feel like risking this investment to prove that you're a really, really good trader, you can take advantage of the €100 no deposit bonus that the broker and Tradimo offer. To get the bonus, you would need to pass the school's six quizzes on the forex beginner strategy – this way, you'll be prepared to invest based on educated decisions, and you'll be a step ahead in the challenge. From then, you can either trade until you make a profit of €900 more, or simply top up the bonus with a deposit. 
 
Most trading contests, be they demo or live, determine the winners based on account equity at the end of the competition. This is not the case with the $100,000 Tradimo Trading Challenge. In it, the winners will be the traders with the highest risk-adjusted return, or Modified Sharpe Ratio. Explained simply, this means that contestants who take less risk will have a better ranking than those with poorer risk management who have achieved the same results. This way, merits will be distributed based on actual trading skills, decreasing the role of luck and discouraging traders to take crazy risks hoping for a lucky turn of events and markets. 
 
If you are up for the challenge and believe you can win, go ahead and register for the contest. The registration is already open and will close on July 12, 2013. 
 
 

About Tradimo.com 

 
Tradimo.com is one of the largest financial trading school and communities. Covering numerous asset classes, including both foreign exchange and stock trading, Tradimo.com offers free comprehensive lessons, videos, live coaching sessions and daily news updates.  The company is focused on building user-friendly content and has an engaged community of more than 50,000 in English, German, and Russian languages.
 
 

About Varengold FX 

 
Established in 1995, Varengold is a specialist German Investment Bank and Broker with headquarters in Hamburg. Steffen Fix and Yasin Sebastian Qureshi were the founders, with the bank initially focusing on managed futures. In 2000, Varengold moved into CFD trading and offered clients access to the award winning Metatrader 4 platform in 2007. The company offers brokerage services to both the institutional and retail sectors.
TAGS: forex  forex trading  forex challenge  forex contest  forex competition  trading contest 

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