MetaQuotes Declares Automated Trading Championship for Forex Trading Robots

MetaQuotes Software has announced that the annual competition for Forex trading robots, which carries prize money of $80,000, is open for the year 2011. The fifth annual Forex Trading Robots (Expert Advisors) Competition is expecting around 400 trading robots to participate from developers worldwide. The competition which will be starting on 3 Oct 2011 will end on the 23 December.

The CEO of MetaQuotes considered the competition as the only source that acts like a repository for storing information on trading robots in the market. The available information will be extremely useful for future analyses on trading plans taking in different points of view and in finding out reasons for successes or failures in finances. Automated trading methods will gain immense popularity by participating in the competition. The MetaTrader 5 trading platform will also be made popular in the competition.

The trading robots participating in the competition will be involved in analysing the prices of various financial instruments and applying suitable trading programs to generate profit, under conditions that are prevalent in the real-time Forex market. The top three trading strategies that generate maximum profit will be judged the winners in the competition and receive the ‘Best Trading Robot developer 2011’ award. The developers will be allowed to adjust their trading programs only until the beginning of the competition. MIG bank and Vantage FX are some of the sponsors of the competition.