For a long time human minds have been interested in replacing the manual labor by automation. Some are skeptical about the idea of replacing the human labor by robotics believing that machines are unable to generate ideas. Also they say that machines are exposed to the risks of unexpected failures. Others, on the contrary, are convinced that robots can handle a larger work volume more effectively enabling humans to spend their time on more pleasant things. In trading the dispute on whether it is more profitable to use advisor or manual trading is still urgent. MT5 Forum decided to find it out by carrying out a real experiment. All users of the forum can take part in the contest!
1. The contest is held 21.05.2012 00.00 (GMT+3) - 09.06.2012 00.00 (GMT+3).
2. Contest registration finishes on 20.05.2012 at 00.00 (GMT +3).
3. The competition is run among teams - manual trading and automated trading.
4. The contest participants' mission is to earn the biggest profit shown in "Equity" indicator by the contest end.
5. The Participant opens a demo account with InstaForex Company via the special form. The account parameters (USD 5,000 balance and 1:500 leverage) are set automatically. In the process of registration in the account holder field it is necessary to indicate the forum nickname. The Participant should keep the account password safe as it cannot be restored if lost.
6. No advisors are allowed to be employed on the contest accounts of Traders' team.
The participant of the Robot team should trade in automated mode. Manual orders are not allowed, only adjustment of settings and current orders are permitted.
7. Working on the contest account should comply with the rules set by InstaForex Company for servicing real accounts.
8. The Participant opens his/her own contest thread in the section Robots vs. Traders: who will win? in their team subsection specifying his/her account number and providing a very precise short description of the strategy in the form of, for example, "XXXXXX - trade midterm EURUSD, GBPUSD, GOLD, apply MACD", where XXXXXX is the trader's account number, the participants of the Robot team should indicate in the headline the name of the advisor used. The publication of the investor-password is required.
9. The Participant is to explain the actions in relation to every deal, open or close (partially close as well), or fixing profit in the topic thread (see point 8), in particular, what triggered the decision to open or close a deal. The description is to contain the number of a certain trade or order.
10. For the moment of the contest finishing all positions of the Participant should be closed. In case a position is open, the participant’s score will be the value shown in "Equity" parameter. The Participant who did not open any trade for the contest period will have a 0 score.
11. The final teamýs score is calculated by the following formula: [amount of all teamýs participants score] / [number of participants in the team].
12. The team participants who got the highest final score are recognized winners upon the contest finish.
13. Every winning team member, that has managed to get a profit, obtains a USD 50 bonus to the account. The prize amount is unavailable for withdrawal and accrued to the member's real trading account with InstaForex attached to his forum profile. All the profit earned during trading operations is allowed for withdrawal with no restrictions.
14. Anti-Fraud policy.
14.1. The administrators of the contest warn that non-trading methods of competition leading to the guaranteed prize are prohibited, in particular, the confederacy of the Participants with a target of registering numerous accounts and opening differently directed deals on the same instrument. For such actions the Participants will be disqualified.
14.2. InstaForex Company has a right to ask the administrators of the contest to consider the issue of the Participant's disqualification in case of revealing scam electronic advisors, using the faults of the Company's software support with an aim to get the guaranteed profit by the Participant.
14.3. For the actions which contradict the rules of the contest the Participants will be disqualified.
Trading duel between traders and robots is declared open. May the best win!
The contest monitoring.