Each month over $4,000 will be awarded to the top 5 mini account holders with the highest percentage gain. This is NOT a demo contest — this is a live trading competition open to all live mini account holders. At the beginning of each month, the slate is wiped clean and traders have a new opportunity to win the monthly prizes. What makes this contest unique? All prizes are CASH prizes with no restrictions on withdrawing the prize money!

Note that in September 2008 the King of the Mini contest will become the King of the Micro contest. There is no registration form or entry fee required. All live FXCM Micro accounts with a minimum balance of $500 by the first of each month are automatically entered in the contest.

Click Here to read the Contest Rules
Click Here to open an FXCM Micro account
Click Here to deposit more funds into your existing FXCM Micro account.

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http://www.forexmicrolot.com/trading-contest.jsp

The winners for the June 2008 King of the Mini Contest are posted below. To discuss the performance results for the King of the Mini Contest visit the King of the Mini Discussion Thread. We will also be including commentary throughout the month of the weekly leaders in the competition and inviting the winners to discuss their winning strategy with Forum members. Please keep in mind that past performance is not indicative of future results, as returns may vary according to market conditions.



1st Place -- $2,500 -- Anonymous -- China -- 1,037.36%
To view the combined statement in GMT click here

By trading only the major currencies this trader took his balance from $4,232.55 to having around $48,139 in equity by the end of June. Trade times mostly lasted for just several minutes, yet often lasted for as much as a few days. Making over a hundred trades, the trader exclusively utilized the USD, the EUR, the GBP, and the JPY. Somewhere the course instructors for FXCM’s “Trading the Majors” are smiling.


2nd Place -- $1,000 -- Anonymous -- United Arab Emirates -- 864.45%
To view the combined statement in GMT click here

Making several hundred trades, the trader used several different currencies, yet the bulk of the trades involved either the EURUSD or the GBPUSD. Most trades were only open for a few hours. Also, the trader relied heavily on Limits to close out winning trades. Following these methods, the trader brought the initial balance of $4,389.91 to $45,381.65 of equity within the month.


3rd Place -- $500 -- Marcus Green -- United States -- 588.25%
To view the combined statement in GMT click here

By solely trading the GBPUSD, the third place winner was able to turn the beginning balance of $2,982.29 to $20,525.69 of equity. Unlike the two traders above, this trader held trades open for several hours at a minimum, with many trades lasting several days.


4th Place -- $250 -- Anonymous -- Singapore -- 492.26%
To view the combined statement in GMT click here

Unlike the other winners, this trader utilized a ton of various currencies. In doing so, the account that started out with $1,159.37 ended up with $6,866.45 in equity. Interestingly, the duration of the trades seemed to get larger as the month progressed.


5th Place -- $100 -- Anonymous -- United States -- 391.79%
To view the combined statement in GMT click here

Like the first place winner, this trader only utilized the major currencies. However, the majority of the trades included the JPY, and many of the trades utilized the notoriously volatile GBPJPY. Utilizing small lot sizes, along with a very high winning percentage, yielded excellent returns for the trader as the account went from a balance of $ 2,706.89 to $ 10,605.42 in equity over the course of the month.


Please keep in mind that past performance is not indicative of future results.

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http://www.forexmicrolot.com/trading-contest.jsp

Please keep in mind that past performance is not indicative of future results, as returns may vary according to market conditions. To discuss the Week 1 performance results, please visit the King of the Mini Discussion Thread.

Common Strategies:

• Short on USD
• Long-term trading (positions open for several months at minimum)
• Employ technical analysis for short-term trading

China 867.92%
This active trader traded in larger positions that rarely lasted longer than a few hours. Profitable positions involved buying the GBP against the USD and the CHF, and buying the USD against the JPY and the CHF.


China 600.60%
The trader employed a long term strategy of having shorted the USD against the JPY in 2006 until the present.


United Arab Emirates 493.46%
This active trader rarely held a position longer than 24 hours. The trader took a variety of positions between the GBPUSD and the EURUSD.


Brazil 432.05%
This trader has gained by shorting the dollar. The trader achieved significant returns by selling the USDCHF and buying the EURUSD. All positions were held open for several months.


France 356.19%
This trader also profited by shorting the dollar, though this trader utilized five different currency pairs. While the time length for each position varied from about two months to two years, the trades that were held open for more time generated superior returns.