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Are you following the Forex Robot World Cup?
The FRWC was created with the objective of finding the best NON-COMMERCIAL Forex robot in the world through a competition based on solid and transparent rules.
What does non-commercial mean? Simple, robots that are not being sold or marketed anywhere but are solely used by their developers.
Hundreds of independent robot developers from all over the globe joined the FRWC to compete for the #1 Prize... US $100,000 (which is why the FRWC got the BEST of the BEST robot developers to participate)!
Now... the competition has two phases, the qualification phase and the live (real money) trading phase.
As of December 1st, 2009 the live trading phase started with 24 robots out of the 329 submitted during the qualification phase (which lasted over 2 months!)
You can view the live (real money) results of the 24 competing FRWC robots (updates every 15 minutes) here.
...and, by the way, you will also be able to view each robot's real money live account statement so you can see each and every trade it takes as the competition progresses, right through to the end on Friday, January 29th, 2010.
It is truly exciting to finally see an event designed to separate truth from hype...
Update January 2010: Once the live phase of the FRWC is over this coming Friday, the winning robots will be available for purchase (in very small quantities).
February 2, 2010 I was also validating the accounts and betatesting the FRWC bots that will be released to the public on Feb16. So far robots look very promising. I will be able to release the detailed backtests and the results after the FRWC launch.
February 4, 2010 FRWC has released a great interview with FXCM, main sponsor. You can listen to it here.
February 16, 2010 FRWC robot sales will start tomorrow. FRWC announced great Fusion V robot which will come as a bonus. You can check it our here.
As ever I was among betatesters and here is my forward test of the FRWC fusion robot on Iamfx broker. Click Here. FRWC FUSION V BETATESTING RESULTS.
March, 2 2010 FRWC News came out today. FRWC's Royal Trader will close its doors to new members
on Friday, March the 5th. They decided to limit the sales to avoid the "oversold" effect and concentrate on the current members. Good move.
The account is trading default settings but the Volcano Strategy is turned off. I don't like volcano strategy personally because it does not work
stable enough during the huge downtrend of GBPJPY.
Remember to stick with safe trading lot (0.01 fixed lot per $1000 of the balance) and you may want to turn off Straasha strategy in Fusion to avoid increasing the lot size by its strategy!
I am also beta testing the new Hirider which they are going to release to the members in future. So far results are pretty good, i even placed it on the Forex Challenge Account.
March, 2010 FRWC has released a great Hirider Advanced EA. It looks really powerful. I already started the test.
You can listen to my audio review of the FRWC using the player below:
I am getting a lot of questions about Forex Robot World Cup.
I’ll keep this FAQ extremely brief. here are some answers:
1. Is Forex Robot World Cup legit?
Yes it is legit. The sponsor is the largest forex broker in the world FXCM
Yesterday FRWC released an exclusive interview with Matthew Navie, V.P. of
Institutional Sales & Business Development at FXCM
You can listen to it
here.
Another sponsor - well known Boston technologies. They provided special
Metatrader for FRWC!
2. When will be EAs available for sale for traders?
I think it will happen on Feb 16.
3. Did you verify the FRWC trades?
Yes, I have received the investor access and verified the trades of the top
performing robots. I heard some other review sites like FPA are verifying the trades too.
4. Are the top 3 as good as they look in the contest?
LMD traded with very high risk but the robot seems very consistent.
Hirider looks extremely stable. Supervolcano, Simple, Cobaltfx look good to me as well.
5. Do you worry the contest is only 2 months - that is not very long for a true test.
Right. However the contest was on LIVE accounts, not Demo. That means a lot.
That means robots had real battlefield test. Most of them could not survive the test but top 7 winners
must be really bulletproof.
Plus the live trading happened around Christmas and New year - traditionally hard tome for every forex system.
6. Will FRWC 2 happen? When?
The EA submission for the 2nd Forex Robot World Cup Competition has already started. It is finishing
March 31st, 2010 so if you are an EA developer - don't miss out!
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