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 July 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 -- Islam Elfayoumi -- United States -- 632%
Click Here to view Islam's combined account statement (GMT)
Click Here to view Islam's Trader Survey

This trader utilized swing trading to become July’s winner of the King of the Minis Contest. By trading only the EURUSD, and setting limits for multiple positions at the same point, the trader was able to sit back and wait for the limits to be reached.


2nd Place -- $1,000 -- Anonymous -- Switzerland -- 526%
Click Here to view the combined account statement (EST)

Focusing on day trading, this trader used the only the major currencies in addition to the CAD. Holding positions for often less than a few minutes, the trader realized a high rate of positive returns to deliver consistently solid returns, even for trades lasting only a minute.


3rd Place -- $500 -- Grzegorz Ksepko -- United States -- 411%
Click Here to view the combined account statement (GMT)
Click Here to read Grzegorz's Trader Survey

By making trades that lasted in duration from several minutes to several days, this trader had several interesting strategies behind the successful return. By only trading the USD with other currencies such as the EUR, the GBP, the JPY, and the CHF, the trader was able to trade very liquid pairs, which is an important aspect to trading on a short timeframe. The trader also relied heavily on trailing stops, using them to minimize losses when trades start to turn in the wrong direction.


4th Place -- $250 -- Ronald Anderson -- United States -- 171%
Click Here to view the combined account statement (GMT)

Utilizing short-term strategies was the main key to success for this trader, as the bulk of the many positions were only held open for several hours. Trading a plethora of currencies, this trader in particular focused on the GBP and the JPY. By targeting small movements with many positions, this trader was able to have excellent returns and become one of July’s winners.


5th Place -- $100 -- Ivano Evangelista -- Canada -- 130%
Click Here to view the combined account statement (EST)

By almost exclusively trading the EURUSD, this trader was able to achieve significant returns for the entire month. Often holding trades open for under an hour, the trader relied on having most of the trades deliver positive returns. Finally, the trader generally avoided using stops and limits in an attempt to actively manage all the positions.

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