The subject competition has been underway for about a month now and there have been a number of surprises. Already there are 6 competitors (of 24) down > 60% and one was bust after 11 days. I’m not sure what this says about the competition’s qualifying rules and about backtesting in general. It is probably more a reflection of the flaws in backtesting than the qualifying rules.
The leaders have a variety of ways to suit every style. There is one with a 97% win rate. Some trade frequently, others infrequently. Some go for the big wins and losses and others want smaller amounts. Here is some statistics I put together on the weekend.
The competition completed this week and the better robots will be offered for sale in a couple of weeks. I did some statistic analysis of the robots’ performance and have included the results below. The records for SuperVolcano for Jan were messed up.
Another competition will be starting sometime in March.
How reliable are these results? Has any reputable third-party verified them?
It always worries me when I come across such events (& I have seen two of these since the original one was scrapped due to the work on the MT5 release) - they seem like marketing stunts to make some sales.
I understand your skepticism, but this competition is different. This was sponsored by FXCM and Boston Technologies and those organizations are not about to let a competition get out of control. I’m not sure if they had a third party monitoring the results but they had every competitor plus spectators like myself checking in regularly. The results were updated in real time every 15 minutes. I have met several of the competitors online and they say positive things about the competition. One finished in the money and the other’s robot was out of it early:eek:.
I actually followed some of the trades to try to learn some of their secrets;). FXCM stated upfront that it is a marketing ploy on their part. I don’t think their inhouse robots sell that well, so they are outsourcing. Their other motivation (they claim) is to drive the scammers out of business by offerring an alternative.
I follow FRWC from the beginning. they started in october 2009. the sponsors are FXCM and Boston tech. I applied with my EA but it was too weak too pass tough rules of FRWC. I hope next year I will improve the ea.
the contest seem fair to mee. I dont like other contests when they trade on Demo , eas make 1000% but you can never trade them in real life… FRWC trades on live deposits from fxcm which is good sign.
2 months maybe not too long but it was around Chrismass and New year - that is the good test for EAs. most systems fail during this time.
I like hirider and simple ea… volcano seems good too. Cobalfx is nice. lmd is good too. i am waiting for feb 16
btw you can listen to their new interview with FXCM today on their site The Forex Robot World Cup
To those who favour HiRider or may be considering it as the best candidate, I wish to point out that its Risk/Reward ratio is 10:1 which means it needs a 90% win rate to [I][B]break even[/B][/I]. That is definitely not my idea of how to trade.
FRWC announced today that the top 3 finishers will be sold together as a package starting on Feb 16. The price was not announced. I am not posting a link in case I get another violation.
The robots in the competition were non commercial and are only being offered for sale as part of the competition package. If you want to find out more visit the Forex Robot World Cup website and it will answer most of your questions. …Or you could get yourself put on the mailing list of the dodgy marketers like Mark McRae, Martin Alexander and Jason Fielder.:rolleyes:
News has broken that the Forex Robot World Cup will release a multi-strategy expert advisor named Fusion-V 1.1a, along with the top expert advisors of the competition in a package. Fusion-V 1.1a was tested in their EA lab during the competition and is said to have made a profit of 355.46% with 226 trades in 19 days of live trading.
and the other’s robot was out of it early:eek:.