Forex Blog

FXcast announced a new type of the Forex trader’s competition today — the Hall of Fame type of competition. You don’t need to open some special account for it or pay for entering the competition. The contest is judged upon the monthly performance of your real trade account. The performance is denominated in the percentage to your monthly starting account and will only include your actual trading results. This way you can win the real prizes using even your starting $10 real Forex account.

The prizes are quite nice for a free monthly competition. The first prize is $3,000, while the second is $1,500 and the third one is $500. The prizes are paid to the traders accounts, but are not withdrawable. Of course, they can be used to trade and the earned profit can be withdrawn by the trader. The prize money will be deducted from the trader’s balance after a month being in his trading capital.

The first month of the contest is scheduled to start on the 1st of December 2008. So, don’t miss your chance and register your account before that time. You can read the description of this contest model on the official FXcast website. You can also read more about FXcast Forex broker.

MetaQuotes Software is organizing its third yearly automated trading championship (basically a contest of the expert advisors). There are three sponsoring Forex brokers this time — FXCM, Interbank FX and FXDD. The total prize funds are $80,000 with $40,000 going for the first place, $25,000 — for the second one and $15,000 — for the third. The registration for the championship opened today, July 1, and will last until September 19th. The automated contest itself will start on October 1st and will run for almost 3 months until December 26th.

As always, this is a pure virtual money contest (but with the eal money prizes of course), which is free for anyone to participate. The expert advisors should be written for MetaTrader 4 platform and can be both in form of the source files (*.mq4) and in compiled form (*.ex4). The last year contest showed some very brilliant Forex expert advisor ideas with more than 1,300% gain on the winning one. This time the quality of the participants’ submission may get even better.

My expert advisor for the 2007 championship was quite lossy and I hope to get a rematch this time. I’ve already registered for this competition and I am looking forward to optimize some interesting EA before the contest starts.

Register for Automated Trading Championship 2008.

The Automated Trading Championship 2007, which was started by the MetaQuotes Software Corp. (the company that made MetaTrader trading platform), ended yesterday and the winners have been announced:

Participant Better earned the first prize of $40,000 with his outstanding neural network expert advisor, which has turned $10,000 into $130,475.45 in 12 trading weeks. Too bad this has been done on demo account, not real :-). A very interesting result with almost 150% distance from the second place. Unfortunately his expert advisor won’t be available to the public, as he refuses to sell or reveal it.

Second prize is going to user wackena, who made $55,042.10 out of $10,000 - a lot less than Better’s EA, but still a very convincing result - 450% in over 3 months. The prize for wackena is $25,000.

Third position belongs to user with the nickname Pegasmaster. His expert advisor earned him $15,000 prize, making $39,945.81 balance during the competition.

My own attempt at this championship made it to the 179th place with $6,684.44 balance left - making it a big loser expert advisor. I had no time not only to forward testing it before championship start, but also to backtest it on some accurate data. Anyway I’ve tried and probably in the next championship I will end up with at least a bit better result :-).

Congratulations to the winners and better luck to all who will participate in the next year’s contest!

FXcast Forex broker announced a Forex traders competition which will be held on real accounts from the 1st till 30th of November with the best trader to receive $5,000 prize. Minimum account size for the competition is not high - just $250, but that will surely add more adrenaline for the participants and will make the whole event more exciting. On the other side - real accounts will stop some traders from entering this championship. Nevertheless, such competition can be useful for all Forex traders as their skills will be tested both against big greed and the excessive moderation.

If you want to join the competition follow these guidelines:

1. FXcast will start a trading competition on the real accounts Forex market (no demo accounts).
2. Become a customer of FXcast if you are not already one.
3. Open a special competition account in your membership area.
4. Deposit $250 to your competition account.
5. Start trading at the 1st of November.
6. The trader with the highest closing ballance (no open positions!) on November the 30th will be declared a winner and receive $5,000 in cash.

Good luck with winning on Forex!