Forex Robot World Cup: EA trading
Hi Folks,
Have you noticed just how many new trading robots are coming onto the market? They are generally called EAs or expert advisors. It seems that every day somewhere a new EA is being launched with some kind of exotic name. One day they are here… the next they are gone… except for a few good ones. Not only do most of them not work but it’s becoming more and more apparent that this new bunch of EAs are really just a marketing exercise.
This is VERY annoying because EAs are probably the future of forex trading. Not only that, they allow people with full-time jobs to take part in the market and make good results. This is one of the main reasons why I have been following The Forex Robot World Cup… the biggest and most important INDEPENDENT FX robot developers competition… real money – live trading!
You can check out their website here (soon the robots will be available for sale):
All I want you to do is go along to the Forex Robot World Cup website and check them out. I want you to see how it “should be done” when you buy an EA. I want you to see what real transparency looks like. I want you to see that robots sometimes DO lose but also can WIN big time if really good:
It’s almost like these guys read my mind. They were obviously fed up with the state of the market too.
These guys decided to take a very brave step by offering $150,000 in prize money to anyone who could produce an EA that was good enough to compete in the FRWC based on their tough qualification rules. They had over 300 entrants to the competition. That may seem a lot but, again, let me assure you that their rules were so strict that thousands of would-be pretenders couldn’t even qualify.
And yes, as you can see on their website, only 24 robots qualified to participate in the live, real money trading phase.
They have taken this whole EA thing to a new level!
Now… not only did they agree to pay out a fortune in prize money to the winners, they also put their own money into the top 24 EAs. They opened live accounts and put $1,000 in a dedicated account for each EA. This is where it gets interesting…
The FRWC contracted some of the world’s top programmers to make it possible for you to see the statements and every trade made LIVE, updated every 15 minutes! Good or bad, you get to see exactly how each EA performs… Nearly everyone in the EA community knows of this competition and it’s being followed very closely.
This will be the first time that the general public will have access to this type of transparency and product quality. The competition finishes this Friday so now is the time to go see the live results!
Everyone has a favorite, and I’m just like everyone else – I like the LMD and HiRider EAs. They are presently sitting at positions one and two.
All the best,
Admin
