Reporting the Second Week (6-10 October)

The second week of the Championship that still amazes us by new records is over.

First of all, the number of comments written during the first ten days (October 1-10, 2008) has exceeded the total number of comments written during the ATC 2006. In 2006 1561 comments were left on the Championship website. In the current competition above 1900 comments of Participants and website visitors have been published already.

Secondly, we have seen new rises of Participants' equities - some Participants managed to reach $80,000. Such Balance and Equity values seemed absolutely unachievable in 2006. As for the ATC 2007, such a result was achieved only by Better's Expert Advisor; and this happened only by the end of the second month of the Championship! It seems no one, including authors of currently leading Expert Advisors, has thought of such an impetuous rise.

Now let us remember the stars of the first short week of the contest. The leader of the first day ANG3110 has only $114.70 on his Balance. Taking into account the fact that the EA traded only on EURUSD, this sum is not enough to open even 0.1 lot. It looks like the competition for his is over.

The Expert Advisor of a Participant from China archer89 also finished its trading activity. But the reason now is absolutely different. It has enough money ($12,250.46), but as a result of some code error the EA started to make attempts to close an order that had been closed earlier. As a result it generated 87 Gb of error messages and was disqualified as decided on the Jury session. We can only guess how it could trade further if its code contained no errors.

The first-week leader Gold_member almost during the whole week was present on the first page of the Championship Participants. He managed not only to recover from losses and return to the sums achieved, but also to get close a new record value of $50,000. It seemed the EA needed a little more to rise till a safe Balance value and observe calmly the stormy market sinking other Participants' deposits. But...

Fig.1 . Balance chart of Gold_member.

On the last weekday it suffered a series of large losses which left no chances of continuing the struggle for the prize. The first Friday, October 3, brought this Expert Advisor a triumph. The second Friday, October 10, killed it.

Now let us analyze results of the second week of the Championship. By the week end the first page of Participants looked like this:

#	Login	Name	Country	PF	Balance	Profit	Equity
1	600185	eniksoft	Germany	5.06	84 410.23	0.00	84 410.23
2	600046	amelabs	United States	3.59	61 922.24	0.00	61 922.24
3	600016	adamoliberato	Italy	1.45	45 419.34	3 477.00	48 896.34
4	600260	Gorez	Russia	0.00	37 883.95	2 320.02	40 203.97
5	600612	thezen	Malaysia	0.00	46 928.00	-7 002.00	39 926.00
6	600381	Mart	Russia	42.69	39 060.37	0.00	39 060.37
7	600336	kotegh	Israel	0.00	27 908.20	9 545.40	37 453.60
8	60385	maximich	Russia	8.00	36 865.24	566.16	37 431.40
9	600349	Liliput	Bulgaria	3.56	32 303.46	4 139.36	36 442.82
10	600497	Raindancer	Switzerland	0.00	36 154.52	0.00	36 154.52

The total equity of the top-ten Participants was exceeded 460 thousand dollars. Expert Advisors of the previous championship didn't manage to obtain such a profit even by the end of the ATC 2007! It is notable that by the end of the second week only 5 of them had no loss-making trades at all.

The Balance of a Participant from Germany eniksoft exceeded $ 84,000. His EA's profit factor is over 5 which is quite acceptable in the beginning of the contest.

Fig.2. Balance chart of eniksoft.

The current leader's (eniksoft) Expert Advisor is a multi-currency one and trades on several currency pairs. We have never seen before that a multi-currency EA could rise so high within such a short period of time. Perhaps it can be explained by a strong trend existing currently on all currency pairs.

Second best now is the Expert Advisor of a Participant from the USA amelabs. His EA trades on a very volatile pair GBPJPY that was in a very strong downtrend during the first ten days of October. 14 trades were closed with a very good profit and the Balance reached more than $81,000.

The latest - 15th trade was a Sell order that appeared to be unfortunate. The Expert Advisor managed to sell at the very bottom and after that the volatile pair GBPJPY turned upwards. As Tony Manso has explained in his interview, his EA has a "panic mode" whose aim is to avoid large losses. Friday evening there was an open position that could lead the EA to Stop Out.

Fig.3. The losing position opening level of amelabs and the level of possible Stop Out.

But the panic mode was activated and having lost $20,000 amelabs finished his second week in the second place. Time will show the future destiny of this Participant.

A Participant from Italy whose nickname is adamoliberato is in the third place. This participant was not in the Top Ten of the first week. His Expert Advisor executed 60 trades on AUDUSD, 33 of them were profitable. Among the best three Expert Advisors only the EA of adamoliberato had an open trade by the end of the second week. This was a Sell trade of 5.0 lots volume.

Interview with Tony Manso (amelabs) In my experience, setting a fixed stop-loss is a recipe for disaster.	Interview with Nikolas Ehrenberg (eniksoft) The idea (I can even say not an idea, but a desire) is to make a fully dynamical system.
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