Demo Account Contest. Q&As for the contestants

DEMO ACCOUNT CONTEST: EVERYThing you need to know (information is continuously updated)

14-10-2020

Demo Account Contest hosted by Gerchik & Co is a safe and profitable way to get the feel of the trading in the market. With its help, traders get to test out their skills, trading plans, and strategies, as well as their ability to control their emotions as various factors impact them. The most important thing is that it offers an actual chance to make money which will be credited to the winner’s trading account in case of victory!

What Is This Page For

To make the competition go as comfortable and smooth as possible, we have created this page where you will find all the latest information about the ongoing contest season, Q&As, and links to the articles which will help you to build a truly profitable strategy.

If any questions arise before or in the course of the contest regarding it, make sure to leave them in the comment section below! Our experts will answer them.

This way, you will have a handy list of Q&A which is essential for every contestant.


Contest Season 6: Information


  • Start date — September 15, 2020.
  • End date — December 11, 2020.
  • The number of winners — 55.
  • Prize fund — $55 000.
  • The minimum number of trades during the Contest — 10.
  • Maximum drawdown — 20 %.
  • Contest Rules.
  • Ranking of Contestants.

Articles Covering Contest


Frequently Asked Questions


To have your question answered, please write it down in the comment section below.


Questions of the Contestants and Answers to Them


Yes, you can use your smartphone for this. However, you should be mindful of the specifics i.e. quality of chart display, the limited possibility to use several timeframes.

Pavel,

1. Upon completion of the contest, the winner opens a TIMA account, draws the offer where he/she must outline all relevant information and details, including remuneration percentage and trading time period.
2. The company then credits $1,000 investment to the winner’s TIMA account.
3. The managing trader opens trades using $1,000 investment as initial capital.
4. At the end of the trading period, the profit shall be distributed in accordance with the terms and conditions outlined in the offer.
5. The managing trader applies for the withdrawal of profit payable to him/her as a remuneration.

E.g. The winner created an offer which says that a trading period is 2 weeks and the percentage of remuneration for capital management is 50%. Based on two-week results, the trading profit was $100. Therefore, $50 (50%) will be the investor’s money, and $50 (50%) will be the managing trader’s remuneration for trading well using the investor’s funds. This remuneration amount ($50) will then be automatically credited to the balance account of the managing trader. After that, you can do whatever you like with that money. Please note that you cannot withdraw investors’ money (investments) in any manner whatsoever!!!

The Contest takes place on the MetaTrader 4 trading platform.

Please launch MetaTrader 4. In the upper left corner, click "File", press "Open account" and then "Scan". Select "GerchikCo–Demo" from the list of servers and click "Next" in the appeared window. Select "Existing trading account". Enter your account number, password, and press "Finish". Now you can open trades, see your balance, and edit positions. If this does not resolve your problem, please contact us here https://gerchikco.com/contacts..

Yes, you can.

Yes, you can check the ranking of the demo contestants here https://po.gerchikco.com/contest/2.

We calculate the loss from the highest point of profit. And it is unfair... or fair after all? Let’s get to the bottom of it!

The primary goal of the Contest is to find talented managing traders who will make money both for themselves and the investors. Let’s assume that you won the contest and increased your TIMA account by 30% of the initial amount in the account. Investors invest a bunch of money… and incur losses right away. Yes, it is indeed inevitable. When profitability reaches its peak, a rollback happens. However, you need to be able to control it!

The investors don’t care what laws the market follows. They see that they’ve invested their money and lost a portion of it right away! That said, it depends on you how large the loss will be. In any case, you must not exceed the 20% threshold. To help traders get used to this value right off the bat, we have established a 20% drawdown limit for the Contest.

In the case of the 20% drawdown, the prize investment will get detached. Other investors indicate the risk per investment independently (but no less than your “Minimum Risk per Investment” parameter).

Yes, you can use automated EAs and robots when taking part in the Contest.


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