MetaQuotes Software Corp. has launched the fifth annual Forex Trading Robots (Expert Advisors) Competition, with prize money of $80,000 on offer. This year's competition will see 400 trading robots submitted by developers from across the world. The competition, which rolled off the block today, will end on December 23.
"The Championship is the only large-scale storage of information about the behavior of trading robots in market conditions. This huge amount of information will help analyze trading strategies from different points of view and determine the reasons for financial successes or failures," Renat Fatkhullin, the Chief Executive Officer (CEO) of MetaQuotes Software Corp. said.
The goal of the Automated Trading Championship is to popularize the concept of automated trading and the MetaTrader 5 trading platform. The competition will see participating robots analyze prices of financial instruments, subject to the same conditions of an actual real-world Forex market, and apply specific trading programs designed to create the most profitable business strategies.
At the end of the competition, the three most profitable strategies will win laurels and the developers of the robots will receive the title 'Best Trading Robot Developer 2011'. They will share the prize money of $80,000. Once the competition starts, the developers will not be allowed to influence their trading programs.
For coverage of the event, MetaQuotes has set up a special Web site - http://www.championship.mql5.com - where detailed and real-time financial statements of all Expert Advisors will be published. In addition, the Web site will also feature various research studies, reports and interviews with famous developers.
"The website of the Automated Trading Championship provides a lot of unique information, which cannot be found anywhere else," said Renat Fatkhullin.
The competition is sponsored by MIG Bank, Go Markets, Vantage FX and Forex-TSD.