Automated Trading Championship 2008 Regulations

MetaQuotes Software Corp. conducts the third annual Automated Trading Championship 2008 co-sponsored by Forex Capital Markets LLC (FXCM), Interbank FX LLC, FXDD and the TRADERS’ Magazine. An even more attractive and "showy" contest is expected. The results of the first two Championships provided much information about various aspects of developing and using Expert Advisors in trading. We are expecting a larger amount and a higher level of Participants this year. The competition at the third Championship promises to be even severer than ever.

As before, you will have to pass through the Registration to become eligible for the Championship. This year, the Registration starts on the 1st of July and ends on the 19th of September. Only the Expert Advisors that fully comply with the Rules will be admitted to the Automated Trading Championship 2008. This year's Rules will be stricter than at previous contests. This decision proceeds from our wish to make the competition fairer and more transparent.

The Automated Trading Championship 2008 itself will start on the 1st of October and finish on the 26th of December 2008. We will observe many interesting things during these three months: profitable and efficient Expert Advisors, the disappointing errors of the developers, all-around failures and incredible rises to the top lines of the Participants table. Three Winners will obtain the titles of the Best Expert Advisors Developers'2008 and share 80 000 US dollars!


Created: 2008.06.27  Author: MetaQuotes Software Corp.
How to Become a Participant of the Championship?

As the Organizer of the Championship, we are doing our best to provide a fair competition and suppress all attempts to “play booty”. It is this reasoning that sets the strict Rules of the Championship.
Registration started!

We are glad to announce, that from the 1st of July the registration of the Automated Trading Championship 2008 participants is open!

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Hendrick wrote:

Hi,

Could you please explain this rule: "Stop Out level is 50%".

Many thanks in advance.

Hendrick.

See this simple script.

//+------------------------------------------------------------------+
//|                                        CheckAccountFunctions.mq4 |
//|                      Copyright © 2007, MetaQuotes Software Corp. |
//|                                        http://www.metaquotes.net |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2007, MetaQuotes Software Corp."
#property link      "http://www.metaquotes.net"
 
//+------------------------------------------------------------------+
//| script program start function                                    |
//+------------------------------------------------------------------+
int start()
  {
//----
   string MarginLevel;
   string CommentString=StringConcatenate("Account Number = ",AccountNumber(),"n");
   CommentString=StringConcatenate(CommentString,"AccountCurrency=",AccountCurrency(),"n");
   CommentString=StringConcatenate(CommentString,"AccountCompany=",AccountCompany(),"n");
   CommentString=StringConcatenate(CommentString,"AccountName=",AccountName(),"n");
   CommentString=StringConcatenate(CommentString,"AccountServer=",AccountServer(),"n");
   CommentString=StringConcatenate(CommentString,"AccountStopoutLevel=",AccountStopoutLevel(),"n");
   CommentString=StringConcatenate(CommentString,"AccountStopoutMode=",AccountStopoutMode(),"n");
   CommentString=StringConcatenate(CommentString,"AccountBalance()=",AccountBalance(),"n");
   CommentString=StringConcatenate(CommentString,"AccountMargin=",AccountMargin(),"n");
   CommentString=StringConcatenate(CommentString,"AccountEquity=",AccountEquity(),"n");
   
   if (AccountMargin()>0) MarginLevel=StringConcatenate("MarginLevel=",DoubleToStr(AccountEquity()/AccountMargin()*100,2),"% ");
   else MarginLevel="MarginLevel=N/A";
 
   CommentString=StringConcatenate(CommentString,MarginLevel);
   Comment(CommentString);
//----
   return(0);
  }
//+------------------------------------------------------------------+

Execute this script on account with open positions:



You see MarginLevel = 488.62% as ratio Equity to Margin.

Margin Level = Equity/Margin


When Margin level will less then StopOut Level (50%) the position with largest loss will be closed by trade server. If Margin Level still will not enough after closing (<50%) it will be close next position, etc.

Here is one more picture:



Rosh
2008.07.07 12:20

Hi,

Could you please explain this rule: "Stop Out level is 50%".

Many thanks in advance.

Hendrick.

123
Hendrick
2008.07.04 19:31
Raindancer wrote: >>

Just to clariif that and avoid misunderstandings. let us take an example:
1) EURUSD has a spread of 2 pips. My experts does 100 trades, 25 are closed after only 2 pips: Scalping, disqualified!
2) The same EA, but I put in a protection to close trades only with 3 pips. The trades are not in "range within the spread" of 2 pips. not disqualified?!?

If even 2) would be disqualified, what is really the rule? What is an exceptable range?


Do you see difference between situation 1 and situation 2 ?


Rosh
2008.07.03 15:24

if the profits in 25% of trades made by the end of the contest are detected to range within the spread, the Participant will be disqualified

Just to clariif that and avoid misunderstandings. let us take an example:
1) EURUSD has a spread of 2 pips. My experts does 100 trades, 25 are closed after only 2 pips: Scalping, disqualified!
2) The same EA, but I put in a protection to close trades only with 3 pips. The trades are not in "range within the spread" of 2 pips. not disqualified?!?

If even 2) would be disqualified, what is really the rule? What is an exceptable range?


677
Raindancer
2008.07.03 01:33
enivid wrote: >>
Why are DLL's forbidden?

DLL's are forbidden for security reasons. Each Expert Advisor works in its own sandbox and cannot do much harm to an operating system or EAs of other Participants

Rosh
2008.07.02 13:53
cdshah wrote:
can i trade multiple currency pairs at the same time?

Yes. You can but remember that according to Rules "The maximum amount of simultaneously opened positions and pending orders is 3."

IV. Trading Terms

  1. A special group of accounts named "demochampionship" on the demo server demo.metaquotes.net will be used for the Championship's purposes. The accounts in this group will be opened by the Organizer only. Account numbers from 600 000 to 650 000 have been already reserved for this purpose.
  2. The initial "virtual deposit" is defined as US$10 000, leverage 1:100. The deposit may not be topped up.
  3. 12 currency pairs have been selected for the Championship.
  4. The minimum trade size is 0.1 lot, the maximum one is 5 lots with the step of 0.1 lot for each order.
  5. The maximum amount of simultaneously opened positions and pending orders is 3.
  6. Stop Out level is 50%
  7. Trading conditions will be very close to real ones:
    • trade requests processing time 2 to 7 seconds
    • requotes are involved
    • spreads and maximum permissible deviations from the market prices can be changed during the news are published
    • on gaps, during the news are published, there can be slippages in execution
    • trades performed at non-market prices will not be canceled
  8. More details can be found in Appendix 1.
Rosh
2008.07.02 12:32
can i trade multiple currency pairs at the same time?
cdshah
2008.07.01 22:09
Why are DLL's forbidden?
401
enivid
2008.07.01 19:28