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Hunt for Loss
Broker: ForexHunt      Other ForexHunt bonuses (-1)      Duration: Every week      Status: Removed      Type: Demo Contests
About

A trulyoriginal Forex trading contest that requires trading lose to win. Fortunately, it's based on the demo accounts. But the rules for this contest are rather strict. Ten accounts with the lowest balance by the end of the contest are declared winners. The account with the highest balance also receives a consolation prize. The prizes for this contest are the following:

  • 1 — $100 of zero-risk deposit.
  • 2 — $50 of zero-risk deposit.
  • 3 — $20 of zero-risk deposit.
  • 4-10 — $10 of zero-risk deposit.
  • Consolation prize — $25 of zero-risk deposit.

The prize money will be transferred to a special zero-risk account. During 1 year the account will be replenished if the balance falls below the initial prize amount. It will happen every 2 months.


Example

You decide to participate in the Hunt for Loss and register for contest to get a special demo account with $5,000 initial deposit. You trade actively, closing more than 30 transactions with a lot of loss, ending the week with only $313.46 left. This qualifies you for a 2nd place or $50 zero-risk deposit. Now you have a real trading account with $50 in it. By the end of the next 2 months the balance on this account falls to $25 due to losses. After 2 months since the winning passes it's replenished to $50. During the next 10 months you trade successfully and the year ends with $176.55. Since it's no longer a zero-risk account you decide to withdraw your funds.


Special conditions

All orders and positions should be canceled and closed before the contest ends. Otherwise the trader is disqualified.

You start with a $5,000 demo account and trade using 1:200 leverage only on EUR/USD, USD/JPY, AUD/USD and USD/CAD pairs.

You can't hold a position for less than 3 minutes and the resulting profit/loss should be 20 pips or more.

Maximum amount of transactions per day is 10.

No expert advisors or scripts are allowed.

Maximum amount of orders is 2 and the total volume of the open positions shouldn't exceed 0.8.

At least 15 transactions should be made by the end of the week.

Rating:
5.0 (1)
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Reviews
Admin 2010-04-27 10:05:06
It looks like ForexHunt is looking to surpass InstaForex in the amount of the offered bonuses (and in quality too). That's a good example of the competition process being good for the Forex traders. Hunt for Loss is so original in its concept that the idea alone deserves a 5/5 score. Where else you can get paid for losing in Forex? And if you think that it's too easy, you can just try it ;-).