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Thread: Ray the Random Robot™ in the Myfxbook/FXOpen ECN Trading Championship

  1. #1
    Administrator Jim's Avatar
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    Ray the Random Robot™ in the Myfxbook/FXOpen ECN Trading Championship

    During a long anxious wait Ray the Random Robot's FXOpen demo account has already managed to accumulate profits of 64%:

    2010-10-25_Demo.png

    Now at last Ray's Myfxbook/FXOpen championship account is operational, and one of his multi-currency MetaTrader 4 clones placed its first six trades as soon as it was able:

    2010-10-25_Contest-Open.png

    As you can see, Ray's contest account is already showing a modest profit of $315, but according to the live contest site he is currently only in 292nd position out of 412 competitors on the evidently rather long leaderboard.
    Reality is merely an illusion, albeit a very persistent one - Albert Einstein

  2. #2
    Administrator Jim's Avatar
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    Ray the Random Robot finishes with 64% profit in one month

    The Myfxbook/FXOpen MetaTrader 4 ECN Trading Championship has now finished. If you've been following Ray the Random Robot's progress in any of his MT4 trading competition adventures you'll already know he trades 6 currency pairs simultaneously, and he stays in the market almost 100% of the time for each of them.

    Last Friday the contest finished with Ray's last six positions still open, leaving his account looking like this:

    Ray_Final.jpg

    To summarise that's a profit of $64,103.11 (or 64.2%) after one month's trading, from an overall loss of 172 pips. Ray's maximum drawdown was 51.19%. That performance was good enough for him to finish the championship in 28th position out of a final total of 474 contestants.

    Top40_Final.jpg

    Ray was however, an awfully long way from winning the FXOpen competition. First place went to Tompinai from Malaysia, with a final profit of 4,043.24%

    Contest_Final.jpg

    Tompinai is apparently a manual trader and not a "robot". The highest placed entrant that claimed to be automated was Tiger, who finished in 11th place overall. In the league table of fully automated entrants Ray was placed 4th.

    Meanwhile back in the real world, Ray's live spread betting account at Smart Live Markets is currently in profit to the tune of £1387.32 (or 56.61%) after slightly less than two months, with a maximum drawdown so far of £735.76 (or 21.04%).
    Reality is merely an illusion, albeit a very persistent one - Albert Einstein

  3. #3
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    Can you easily copy traders with Myfxbook/FXOpen like you can with eToros OpenBook?
    Would be nice as I don't like eToro that much

  4. #4
    Administrator Jim's Avatar
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    Hi Gurusepp,

    Myfxbook don't provide any automated trade copying facility, although I suppose you could manually try to follow trades as they appear in the list of open trades. However I'm not sure why anyone who calls themself a "trader" rather than an "investor" would want to do such a thing. If despite my reservations you've got your heart set on "investing" in someone else's signals, but don't want to be tied to a single broker, you could check out mirror trading platforms such as Collective2, Currensee and Tradency.

    In any event I certainly don't recommend copying Ray the Random Robot's trades on a live account, either manually or automatically. Whilst his equity curve does have some superficial attractions, Ray is designed to be used solely for educational purposes, not trading with your hard earned cash.

    If you don't mind me asking, what is it that you don't like about eToro?

    Cheers,

    Jim
    Reality is merely an illusion, albeit a very persistent one - Albert Einstein

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