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How long can it last?

I’m currently taking part in an automated trading competition that is run by MetaQuotes and have been slowly rising up through the ranks, today I finally made it to #1! I’m not under any illusions that I probably won’t last there (still 2 months to go), though I’m quite happy that my EA (Expert Advisor) that I threw together in probably less than 10 minutes is up there with the really smart ones.

For when I get knocked off from the top spot, here’s a screengrab as proof

UPDATE: I’ve actually managed to hold off the pack since I wrote this post and managed to increase my profit quite substantially (see screenshot below) up to more than 50k (I think I remember seeing it at 51k), though there was a big retracement last night and so I’m back around the 40k mark. I’ve just finished an interview with the guys from Metaquotes, hopefully the curse of the interview (everyone that gets interviewed loses lots of money straight after it is published!) doesn’t make me go downhill.

Filed by Popeye at October 30th, 2007 under Finance, FOREX, Trading

way to go Milton!! i think this week’s events should keep you in 1st place for at least another month! :O)

Comment by ckowyong — October 30th, 2007 @ 8:44 pm

Good Job !!

You must be a Genius

What Strategy does it use ?

Comment by Mandeville — November 7th, 2007 @ 7:10 pm

Thanks Mandeville, Not sure about the Genius title, it’s actually really quite simple.

It uses Bollinger Band breakouts for entry and exit signals.

Comment by Popeye — November 8th, 2007 @ 8:53 am

you are still in 1st place , so you must

have a good strategy.

can you send indicator or ea

thanks

Comment by Mandeville — November 8th, 2007 @ 9:59 am

Plenty of luck as well

It’s not really something worthy of being sold, the risk it uses is far too high and will result in large drawdowns, also it needs a better exit strategy.

I’m going to be doing an interview with Metaquotes where I’m thinking about explaining the strategy.

Comment by Popeye — November 8th, 2007 @ 11:11 am

can you send a screen shot that explains

strategy. Im new to Forex - having a

hard time understanding how it works.

thanks

Comment by Mandeville — November 8th, 2007 @ 1:03 pm

sure, here’s a pic

http://www.projectsomewhere.com/wp-content/uploads/2007/11/bbstrategy.gif

Comment by Popeye — November 8th, 2007 @ 3:02 pm

great shot,

thanks

what are settings for Bollinger Bands

Comment by Mandeville — November 8th, 2007 @ 5:51 pm

in my EA I’ve just set it at 100 periods 1 stdev, you could probably find a better setting

Comment by Popeye — November 8th, 2007 @ 10:13 pm

what about Shift ?

Comment by Mandeville — November 9th, 2007 @ 5:03 am

51K? Awesome!!
How much did you deposit your fund to this competition?

Comment by sweetmetagirl — November 11th, 2007 @ 2:00 pm

Mandeville: 0

Sweetmetagirl: everyone started out with 10k (fantasy money), it’s just a fantasy contest without any possibility of losing real money so everyone has excessive risk.

Comment by Popeye — November 12th, 2007 @ 9:33 am

Oh I see?.. Yesterday, I saw your place turn to 2nd, but I hope you’ll be the real winner.
Good luck,

Sweetmetagirl.
Malaysia.

Comment by sweetmetagirl — November 12th, 2007 @ 10:43 am

Thanks I hope I’m the winner as well, though my strategy really counts on the USD continuing it’s decline against the CAD. If it keeps declining strongly for the next 6 weeks then I should have a good chance, I think the odds of it are a bit slim.

Comment by Popeye — November 12th, 2007 @ 2:30 pm

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