The Forex Robot World Cup

[marc walton]

The Forex Robot World Cup looks likely to be THE forex event of the year. Those of you who have followed me for a while will know that I am very cynical when it comes to forex robot vendors and their claims - basically most of their outlandish, declared results are absolute hogwash and yet we still want to believe them!

One exception of late has been forex megadroid. I have a lot of members of my forex mentor site who use this robot & say it works. Nothing like the 2000% a year rubbish the owners claim, BUT it works. I have just bought that one and we have a robot fan testing it here on the forum at the moment.

However, what if we had the opportunity to see a number of robots in action over a period of time, on real money,"live" accounts. Know that they are being independently audited. Trust that the results are legitimate? Now I am intrigued. Thats what the Forex Robot World Cup is about.

Sponsored by FXCM there is a prize of $100.000 for the best performing robot from the 329 that were entered and began trading on the 1st December 2009 to the 31st January 2010. At the moment the first place robot, LMD- Multicurrency has gained 211.36% which is awesome BUT the middle figure (34.06%) is the draw down which is scary

LMD-Multicurrency Deposit $1,000.00 Draw Down 34.06% PROFIT 211.36% $2113.62

The second place one, the HI Rider looks far more interesting to me, but then I am ultra cautious when it comes to forex trading. But to grow an account on autopilot by 83% in two months is simply incredible. Imagine no more studying charts & spending hours in front of the screen. Forex Heaven

HiRIDER Deposit $1,000.00 Draw Down 3.26% PROFIT 83.42% $834.21

The aim of the competition is to to find the best FX robot in the world, and then allow people to trade it. If you would like to follow the competition results in real time & find out more CLICK HERE. I said earlier this could be THE forex event of the year. Jay & Julie have a lot more experience with Forex Robots than me. I have asked them to do a detailed summary of the competition & give us their opinion of the competitors. Marc

[marc walton]

Re The forex robot world cup, I cautioned the other day against taking everything at face value. However the organisers have been ultra sneaky & now combined the 5 winning robots to make one SUPER robot that earned 355% in a month on a "live" forex account with a small drawdown. Now that IS interesting.

The winner of the competion grew his account some 200%+ which sounds great BUT his drawdown was 34%. Drawdown is the amount that it could have lost. So on a $10.000 account you could wake up to find you just lost $3400! Ouch

The following video shows the perfomance of the SUPER forex robot, that they have named The Fusion V Click the link to take a look: The Fusion V Forex Robot

[raa]

Re The forex robot world cup, I cautioned the other day against taking everything at face value. However the organisers have been ultra sneaky & now combined the 5 winning robots to make one SUPER robot that earned 355% in a month on a "live" forex account with a small drawdown. Now that IS interesting.

The winner of the competion grew his account some 200%+ which sounds great BUT his drawdown was 34%. Drawdown is the amount that it could have lost. So on a $10.000 account you could wake up to find you just lost $3400! Ouch

The following video shows the perfomance of the SUPER forex robot, that they have named The Fusion V Click the link to take a look: The Fusion V Forex Robot

I feel some kind of scam in there. If they would not combine it, number 2 robot has a very beautiful curve and extremely low drawdown, despite earning 80% in less than 2 month, that is grand! But instead they have combined it. I don't know, maybe it is possible to switch one strategy one and another off, turning off these scary LMD-Multicurrence moves (too similar to MD actually, despite MD is only EURUSD trading robot but algorithm looks very very similar, flat market scalping, like Forex Blaster trading system, very easy to implement in EA). Dunno, tempted to give a try but a grand to bit too much at the troubled time like that. Or desperate times call for desperate measures?

But FRWC site looks very much like any other FX marketer website - much hype and large sized letter, very little precise information.

[raa]

Re The forex robot world cup, I cautioned the other day against taking everything at face value. However the organisers have been ultra sneaky & now combined the 5 winning robots to make one SUPER robot that earned 355% in a month on a "live" forex account with a small drawdown. Now that IS interesting.

The winner of the competion grew his account some 200%+ which sounds great BUT his drawdown was 34%. Drawdown is the amount that it could have lost. So on a $10.000 account you could wake up to find you just lost $3400! Ouch

The following video shows the perfomance of the SUPER forex robot, that they have named The Fusion V Click the link to take a look: The Fusion V Forex Robot

I know I am stupid, after all I have said I went and subsribed to the frwc and got that Fusion thing (and others) on hand. One a positive side - you can enable and disable each component, so I have enabled only LMD, SuperVulcano and a precious HiRider. Let's see how it will develop. BTW went for the option for 599 now and 599 later, with a stupid hope that robot will earn me another 599 for payment

[joey]

I am only interested in the HiRider but it appears that you need to purchase all systems and then switch the others off.
It doesnt make sense. I guess that is why they are asking for approx $1000.00
Let us know how you go as i am still keen to purchase prefering the $599 option now and $599 later.

regards
Joey

[raa]

I am only interested in the HiRider but it appears that you need to purchase all systems and then switch the others off.
It doesnt make sense. I guess that is why they are asking for approx $1000.00
Let us know how you go as i am still keen to purchase prefering the $599 option now and $599 later.

regards
Joey

Hi. So far it started with a loss. HiRider has opened long position at the top of EUR/USD rebound (weirdo, thought I), where manually on another account I have opened huge sell position. Sure, robot lost 100 pips (I decided not to intervene what so ever in process of robot), now LMD has opened several positions, so far most are loosing, SuperVulcano has opened one position and it is gaining. Not very exciting yet, also, I have back tested their fusion megarobot for exact time frame they specified - these 17 day, nothing even close to the mentioned result of 300+%, something 20-30$ tops. Also, I don't see how their money management parameter is working (in advertising they mentioned "powerful money management system" they have included, but in manual they advise to switch it off, LOL). Parts of the manual remind extremely close MegaDroid manual! Maybe they copy-cat, or... may be same guys went on the rampage, dunno..

BTW, they are offering also original robots participated in competition for use, not only as part of Fusion, it is all part of the subscription. So you can actually download original HiRider and use it.

They run very similar activation code system like MegaDroid does, some parts of configuration are too familiar. But maybe a copy again..

Megadroid at the same time did a very nice winning trade this night!

[joey]

Thanks for the update much appreciated....
however i do have a couple of questions if you could answer...
1)can you run the original Hirider or LMD with exactly the same settings and parameters as per the competition phase.
2)what platform are you using and is it the same platform that the competition winners(top 3) used.during the competition phase
Again thanks for your honest update review......if it is not asking for much providing another review in a few days time will be helpfull.
Cheers

[raa]

Thanks for the update much appreciated....
however i do have a couple of questions if you could answer...
1)can you run the original Hirider or LMD with exactly the same settings and parameters as per the competition phase.
2)what platform are you using and is it the same platform that the competition winners(top 3) used.during the competition phase
Again thanks for your honest update review......if it is not asking for much providing another review in a few days time will be helpfull.
Cheers

Hi Joey,
yes you can run them like in competition, according to the manuals these settings are set as a default. But still I am not through all of the docs, it is very messy to be honest and looks like everything was done in a great haste to cash chips in ASAP. But I will give it a time. They look committed though.

I am using LiteForex.org platform, not the same as FXCM, they have mentioned that systems are designed to be run on +1 GMT offset, but 0 and +2 are fine too, LiteForex has +2 (I think they are Moscow based).

I have also started full-set Fusion run on test platform from FXCM to see the difference. If it perform well there I will open account there instead. The reason I use LiteForex as I don't want to risk too much money while I am still learning and testing, and LiteForex allows to open Lite accounts in cents, rather in dollars, which is handy, you won't loose much while making kids mistakes.

[raa]

Spent some more time trying to back test Fusion, LDM and HiRider, SuperVulcano. Fusion is providing with quite unimpressive test results, I understand it is very difficult to test with multicurrency options on just one pair data but anyways. Same goes for LMD. But even on one pair LMD is loosing quite a much, so much it is almost always stopped out due to low equity. With most modest setting it generates very little revenue. But again of course it is one-pair test, still not excited about it so much. Vulcano - it uses M1 charts, i.e. impossible to back test with no commercial data, but actually it shows same results when run on any time frame - just few trades, not impressive. But HiRider impresses me most. It does well on specified FRWC time frame, and back tested to the whole 2009 it shows staggering results. I just hope it is not hardcoded into robot not to take certain historical trades to scam its performance...

Here is results from back test:

Initial deposit 1000.00
Total net profit 26583.00
Gross profit 36513.00
Gross loss -9930.00
Profit factor 3.68
Expected payoff 17.58
Absolute drawdown 214.60
Maximal drawdown 9479.60 (39.78%)
Relative drawdown39.78% (9479.60)
Total trades 1512
Short positions (won %) 782 (97.83%)
Long positions (won %) 730 (97.53%)
Profit trades (% of total)1477 (97.69%)
Loss trades (% of total)35 (2.31%)
Largest profit trade96.00
loss trade-1470.00
Average profit trade 24.72 loss trade-283.71
Maximum consecutive wins (profit in money)182 (2805.00)
consecutive losses (loss in money)6 (-7030.00)
Maximal consecutive profit (count of wins)4330.00 (75)
consecutive loss (count of losses)-7030.00 (6)
Average consecutive wins 48 consecutive losses 1



Basically it has suffered only one big loss on multiple positions. My parameters:

Equitylimit=60; MaxTrades=5; Lots=0.01; UseMM=true; LotsRiskReductor=5; MaxLots=10;

The rate of win on test is even higher than that of MD, so this robot would benefit highly from revenge strategy, which can be done manually, after a loss and closure of all previously opened trades, we can double the stakes until it win everything back and then return to automatic money management. Strangely it was not already done.

I will give a go to Fusion for few more days and if it is still messy - will do only HiRider for a month. If reality would bite, I will request refund.

[raa]

More news from the field. I decided to switch on all the strategies to see what difference it would make. To the point, about 36 hours from start, Fusion has recovered all the loss it went initially and made small profit. There were much more than 12 positions open during the 24h, closer to 20. There is so many things going on it is difficult to tell where we are now. Many positions are currently open, equity is lower than balance, but I understand that this is a normal situation when trading with robot like this. Good things I have noticed, it is hedging heavily, so some positions are in profit, some in a loss, so the equity is not suffering too much, i.e. it allows to keep opening more positions. We will see. When I will have one week results, I will publish a report from my account to you fellow traders.

One of the tactics I use in my manual trading (I am beginner though) is a Warren-Buffetie approach , if you loose and equity goes down but you sure you were right initially, keep buying Few days ago I had suffered a big loss on my account, when they euro spiked hard about to Fibo 23 (or 78 if you use Marc's settings) weekly, but I kept buying USD. At the end I have recovered my initial loss due to these tactics. It is risky though. But with this multy-hedging tactics this problem with low equity is much smaller as losing positions are more less covered by winning positions.