Mpower,
I follow that championship nearly every day and together with the members in the video room.
The only conclusion we can make is that this competion is some sort of a crap shoot.
It is easy to look to the total results (as most people do who don't know any better) but once you start to look into the technical details they could have been whiped out after the first 2 trades. If you look to liliputs results and check out his 10th and 11th trade and if those 2 trades would have occured as the first 2trades he would have been in the bottom 10 ranking.
As I am absolutly convinsed that if some of those people who were in the bottom 10 ranking after a couple days, would have had a bit more luck the moment they started, could have been now in the top 10 ranking.
If
ONLY 2 bad trades occure the moment you start trading and would whipe you out completely, one can hardly have any admiration for such a system.
If you look to the absolute draw downs of all EA's in the top 10 ranking there is not 1 that has a less then 40% drawdown.
People screamed already murder and hell here in my topic if they could have gone to a 30% drawdown.
If you look to the technical report of this one
Participant simplexnet - Automated Trading Championship 2008 you will say WOOOW. The hitrate is more then amazing. The avg win/los ratio is extreme. Because MT4 shows only results on end of trade and also the equity curve is build that way. But if you look to his Maximum DD it was at some point -81%. Witch can not be seen on his equity curve because of floating losses that are not registered.
So it is nice to have a look to all of these results and if you know how to read a technical report it learns you a great deal and that is that there are no secrets in trading.
That competion will always be a Do or Die situation because ending up 4th on the ranking gives you nothing in return for your effort.
One has the possiblity to program his EA in such a way that if he is extreme lucky he can make in the top 3 and receive some price money but in real if he was just a little bit unfortunate he would have blown up his account 14 times.
The other possibility is to program your EA in such a way that you would be very safe
in real trading but in that competion, you want make it into the top 100 ranking that way.
Interesting also to see is that the top 3 devellopers of the previous years joined the competion again the years after and they are no way near the top 10 the next years ( and they had more then a year to even improve their systems).
So if Liliput can make it into the top 10 next year I will build up some credit for him. He has now 22 trades and I consider that as pure luck. I look at this that his system has found a sweat spot in the current market conditions. As "better" had last year and is now even in a small loss after making 1300% profit last year.
regards...iGoR
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