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Originally Posted by holyguy7
The maximum amount of simultaneously opened positions and pending orders is 3.
That rule, does it mean that you can only have 3 total open trades at any given time or does it mean that 3 given trades per currency pair. Let me say that this rule would eliminate 99% of experts out there if it means ALL currency pairs.
Thanks.
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The contest only puts an EA on a single chart, so multi-pair isn't an issue.
However, I still agree the 3 total orders limit is a bit ornerous. I have a stone-simple strategy, but it ran immediately into this problem if multiple signals are given. It took several times more time to code a work-around to keep the strategy intact than the original strategy code.
I had thought this was an anti-grid or a resource preservation technique, but now I think it's just a limiter to force single-entry type designs. Obviously there are adaptations possible, and such restrictions can narrow the field to only thoughtful EAs which can help with their judging process. An errant order opening will DQ the EA and that's one less EA to watch.
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Anyone that has an EA generating a $B will certainly not participate for $40k. However, the poor coders eeking out account less than a quarter that prize fund will stand to gain trading capital.
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I'm very pleased they will run the code uninterrupted on their servers. My own system has far too many interruptions for long term tests. I get a free long term test even if my EA eats some other EA's dust. I'll be jazzed to finish profitable.
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Offering a prize this large for a demo-based long-term trade does not seem trivial to me. I'm sure they care very little about who doesn't show up with their killer EA compared to those who would game the system. For example, watching for someone teaming with a buddy to each code a buy-&-hold of max lots in each direction. One account will blow up and the other stands to make a few hundred pips (average quarterly body) on 5 lots. such a 200%+ return sounds pretty competitive. I think this is precisely what the jury will be watching for to cut out. The last thing they want is to have someone win, go through all the interview and lauds to the winner, and then find they cheated. "you can only win if you cheat!" is the last thing they want to publicize as broker/software community. Doesn't attract new customers.
Even so, I'd be surprised at any contest trader that is set up exactly like the real-money live trader would be set up.