As I have written before, tradimo partnered with One Financial broker to launch a two-part trading challenge this autumn. The demo part lasted from September 14 until October 2. The live trading part is scheduled to start on November 2 and will last through December 11 of this year.
The live trading part is definitely a more fun version of the competition as you get a chance to win control of a $50,000 account funded by One Financial. Here is the list of conditions and rules for this contest:
To participate, you have to fund your account with at least $500.
The deposit and any profit you will make on that deposit in the duration of the contest is yours.
The winners are sorted according to equity growth measured in percentage. So, it does not matter what your initial deposit size was (as long as it is $500 or more).
The 1st prize is the management of $50,000 account with 20% profit share. The 2nd prize is full ownership of a $2,500 live account, and the 3rd prize is the same with $1,000. To be able to withdraw from the accounts won via 2nd or 3rd place, a trader will have to trade at least 100 standard lots of volume.
The maximum drawdown on your account during the contest should not exceed 20%.
I have burned my demo part account quite fast with a rather reckless trading strategy (go short on GBP/CHF with all available margin). I am not yet sure that I am going to take part in the live competition. However, I still have some time to decide. Anyway, if you have ever wanted to get a big account under management, this is definitely a good chance to get it.
Update: Clarified some of the conditions.
If you want to ask questions about the live trading competition part of the challenge, please feel free to do so via the commentary form below.