Rules Automated Trading Championship 2008
I. General Provisions
- The Championship is organized by MetaQuotes Software Corp.
- The Championship is sponsored by:
- The Championship starts on the 1st of October 2008 and finishes on the 26th of December 2008.
- Registration starts on the 1st of July 2008 and finishes on the 19th of September 2008.
- Prizes of totally $80 000 are distributed among:
- First Place - $40 000
- Second Place - $25 000
- Third Place - $15 000
Organizer provides server equipment on which the Participants' Expert
Advisors will continuously work throughout the Championship.
- All Participant operations will only be performed with virtual money.
- Participation in the Championship is free.
- Anybody aged 16 or over is eligible to participate in the Championship, irrespective of occupation, citizenship or gender.
former or actual staff members of companies that organize or sponsor
the Championship, or their family members or relatives, are eligible to
- Everybody who wants to participate in the Championship must be registered.
- The Participant agrees and undertakes to provide true information about himself or herself at registration. Incorrect registration details will result in disqualification.
- The Participant can be registered only once within the Championship. Registration of your friends or relatives instead of you will result in your disqualification. If any registered persons display their ignorance of trading, they will be disqualified.
attempts of multiple registrations or use of anonymous proxies will
result in unambiguous disqualification of the Participant.
- The Participant agrees not to raise any financial or other claims against the Organizer or the Sponsors.
reserve the right to refuse registration to a Participant without
showing the cause and to disqualify him/her showing the cause.
registered for participation in the Championship, each Participant
expresses hereby his/her full agreement with these Rules without any
exceptions or limitations.
III. Eligible Expert Advisors' Programs
- Programs can be accepted both as compiled *.EX4 files and as source codes *.MQ4. DLLs are forbidden.
- The following can be used:
- one Expert Advisor (to be placed into the /experts directory)
- one data file (to be placed into the /experts/files directory) in any format except for executable one
to 5 custom indicators (to be placed into the /experts/indicators
directory); there are no limitations to use indicators integrated in
- up to 5 libraries (to be placed into the /experts/libraries directory)
- Each Expert Advisor will be launched in one account, in a separate terminal, only on one chart selected by the Participant.
- All competing Expert Advisors will work on the Organizer's equipment only, without any external control.
to being accepted for participation in the Championship, each Expert
Advisor will be tested by the Organizer for its compliance with the formal
- Experts can contain limitations to be used outside the Championship, but they must:
normally and be tested on the whole interval of year 2008 (for
portfolio strategies no history testing is necessary, a simple
description will be enough)
- work normally in accounts numbered from 600 000 to 650 000
- work normally with demo accounts opened on the server of demo.metaquotes.net:443
use scalping: if the profits in 25% of trades made by the end of the
contest are detected to range within the spread, the Participant will
at least 5 conscious trades within the first 8 backtesting months
(2008.01.01-2008.08.01) and within 3 months of the contest
- properly consider symbol settings without rigidly specified parameters (limitations on lots, spreads, minimal deviation from the market price, etc.)
- never contain any critical bugs (like looping or hanging up, etc.) or explicitly harmful actions in the code
- be economical with the use of resources on the processor and PC memory
the Expert Advisor's behavior during preliminary testing essentially differs
from that during the Championship, it will result in disqualification
of the Expert Advisor.
IV. Trading Terms
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
- The initial "virtual deposit" is defined as US$10 000, leverage 1:100. The deposit may not be topped up.
- 12 currency pairs
have been selected for the Championship.
- The minimum trade size is 0.1 lot, the maximum one is 5 lots with the step of 0.1 lot for each order.
- The maximum amount of simultaneously opened positions and pending orders is 3.
- Stop Out level is 50%
- 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
- More details can be found in Appendix 1.
V. Publishing of Results
- During the Championship, the following will be automatically published in real-time mode:
- all Participants' statements
- all journals (terminal logs and logs of the Expert Advisors) of client terminals
- Ratings and comparison tables are updated every 5 minutes.
- Logins and passwords of the Participants' accounts will be available to the public. Read only access.
VI. Experts' Codes Safety and Non-Disclosure
Organizer guarantees that all Experts' files received from Participants
(including custom indicators and libraries) will be immediately deleted
as soon as the Championship finishes, provided that the Participant has
not authorized their publishing.
- The Organizer guarantees that only MetaQuotes Software Corp. authorized staff will access to the Participants' programs.
case of the Jury's well-grounded claims against the Participant's
program and of the Participant's audit engagement, the trilateral
(respectively, by the Jury, the Organizer, the Participant) audit will
be performed. If the Participant refuses to be engaged into audit, he
or she can be disqualified.
VII. How the Winners Are Determined
- After the Championship is finished (23:59 on the 26th of December 2008, trading time), all positions will be forcedly closed.
- Only three Participants who have the largest balances by the end of the Championship will be declared as the Winners.
- If 2 or more potential winners have equal balances, the final decision will be made by the Jury.
- If none of Participants has a positive profit, it will be considered that there is no winner at all.
- The Winners must agree to the publication of their names and surnames.
Winners must agree to participate in publicity and marketing events
conducted by the Organizer and Sponsors, including interviewing,
photo-reports, and public announcements through mass media about the
events to be conducted.
VIII. How the Award Is Paid
Winners must send the photocopies of their passports (photo page and
residence data) by fax within 7 working days after they have been declared winners in order to
confirm their identity. If this provision is broken, the Winner will be
- The Winner must provide his or her bank details within 7 working days after he/she has been declared a winner.
the Organizer cannot contact the Winner (by phone) within 7 days, the
Participant can be disqualified by the Jury's decision, and the Winners
list will be revised.
- The award money will be passed to the
Winners' accounts by bank transfer within 7 working days after the bank
details have been received.