Did someone heard something about the Automated Trading Championship?

Did someone heard about the Automated Trading Championship 2006? o Metatrader??
I just want to say that if you didnt know anything about that go to this link and read it!!!

That champsionship was about in building an automated program that could do tradings, automatically, and efficient, the winner was the one who did more money with his bot program, in this case an Ukranian called Rich, he won 40 000 dollars (it was the prize), because he was the one who did more money, 35 000 dollars from september to december from this year, with an initial capital of 10 000 dollars(with virtual money obvisuly), i will do anything to get his bot!!! it works in metatrader.
What do you think about this???
Im a newbie in forex, but i’ve reading and im practicing, and in the future i’ll be interested in building something like that a bot, that could do money automatically, imagine, what you say? someone from here know something about programming like c++?? is easy because metatrader 4 can be programmable it has his own sintaxis, read the link that i gave you to know more about this championship?.
Let’s try to do something in the next champsionship that will be in september 2007, who want to do something???, let’s give ideas, how can it work our bot???, what trading system we can implement???, im 100% dedicated in learning the sintaxis from metatrader, i know c++, so it will be easy to learn, if someone know it already good!!, so let’s do something, thanks
:D:D :smiley:

I wonder how my SNW program would do in this competition :stuck_out_tongue:

Don’t get too excited about three months worth of results, especially the trading isn’t with real money. First off, the timeframe is way too short to give a really assessment of the system’s performance. Could have just been an optimal spell for the bot.

Secondly, since the competition wasn’t “live” there is no concern about risk. The bot creator is trying to win. It wouldn’t really matter how poorly the thing performed if it didn’t. The competition entrant wouldn’t feel any pain. That means it could have been taking insane amounts of risk, which is pretty likely given the results.

Always be sceptical of the trading prowess of any trading competition winner.

These competitions always have a fixed timeframe during which the competition takes place.

You’ll pretty much always find that the winners just use crazy money management and hugely geared positions. If they’re lucky they catch some huge trends and look like trading gods.

Since they’re out to ‘win’ and not to make consistent money they can take these risks. They never have to worry about black swan events.

If they blow their account, oh well, just wait for the next competition.

How you trade in a competition and how you should for real are two completely different things.