The Forex Robot World Cup

WELCOME FOREX ROBOT DEVELOPERS


Top 10 FRWC Ranked Robots (Live Trading - Real Money)

All FRWC robots are NON-COMMERCIAL creations
by Independent Developers

** Results are updated every 15 minutes **
Click here to view all rankings and real money, live account statements



WHO IS THE BEST?

Forex trading via automated robots has become very popular in the Forex industry over the past few years.

Thousands of robots have been, and are being, developed by traders from all over the globe with a single objective:

Creating A Profitable, Solid And Reliable Long Term Automated Trading Solution.

For the first time ever, non-commercial Forex robot developers from every corner in the world will have a chance to compete in the biggest and most important automated Forex championship: The Forex Robot World CupTM (FRWC).


FRWC's objective is to allow nature, so to speak, to select the best of the best in an open and transparent challenge.


Equal rights, equal opportunity, equal conditions; Everyone starts at the same point, everyone has an equal chance to receive:

Reference :

http://www.forex-robot-world-cup.com/

Expert Advisors

Expert Advisors (EAs) are special trading programmes that can be used on the MetaTrader 4 platform to assist you with your trading decisions.

These trading programmes allow you to maintain a particular trading strategy according to a predetermined set of trading parameters.

In simple terms, you can use EAs to monitor movements in the market and perform buy or sell trades automatically according to the strategy that you have chosen.

The use of Expert Advisors is generally limited to the MetaTrader 4 platform however there is an array of other trading systems which work in a similar fashion.

Where can I get an Expert Advisor

If you decide that an EA is a suitable product to use within your investment strategy then there are several ways that you can get your hands on a strategy to suit your needs.

Buy an EA on the Internet

There are hundreds of different EAs available from a host of reputable companies on the internet and whilst ODL Securities does not endorse the use of any in particular, there does seem to be some excellent EAs available at relatively low costs to the end user.

You can buy the programme and install it into your MT4 platform very quickly, meaning you can be trading within minutes.

It is important that you understand what strategy your EA is running and therefore we always recommend that you only use EAs which are in line with your risk profile.

Design your own EA

Although designing your own Expert Advisor is significantly harder than using one from off the shelf, the benefit is that you can customise your own EA to your exact trading requirements.

Creating your EA will be difficult if you do not have a high level of technical knowledge and you will need to understand MetaQuotes Language 4 (MQL 4).

Please refer to http://www.metaquotes.net and http://www.odlmarkets.com/ea/expert-advisors.odl for more information.

FOREX FAQ

Frequently Asked Questions

	01. Some people call the FX market the market that never sleeps. What are the advantages and disadvantages of a 24-hour market? Forex provides frequent opportunities on both the upside and downside. For many years the Foreign Exchange market (FOREX or FX) was out of reach for the mainstream investor. But nowadays with low transaction costs and easy access to the Forex market, one can easily participate in the world’s largest trading arena. It has been said that "The FOREX Market never sleeps." Unlike the Stock Market, there is no waiting for an opening bell. This can be very advantageous if you want to trade on a part-time basis, as you can choose when you want to trade: morning, noon or night. Also, because the FX market is sensitive to Political, Financial and Economical news, a trader can take immediate advantage of this volatility and trade accordingly. The downside to a 24 hour market is that one can easily get obsessed with trading and find themselves "Over trading." return to top

	02. In Forex the terms "margin" and "leverage" play a major part. Could you explain the coherences in contrast to the stock market? The stock market generally does not allow leverage products, unless you are trading an exchange traded future. As FX is an OTC market, leverage can generally be greater, and margin requirements are more flexible depending on the product and entity. As an example of leverage, if a client is on margin of 5% he can trade to 20 times his initial deposit. Also, there are no commissions or exchange fees to pay in the FOREX market which is an advantage to the trader. And with narrow spreads in FX compared to equities this can be an additional saving to the trader. Slippage is another factor in the stock market. But here in the FX market, this is not something that the FX trader has to worry about under normal market conditions. return to top

	03. The volume in the Forex market is bigger than in any other market. To what does a private trader have to pay attention to? With a daily trading volume of over $2 trillion the FX market dwarfs the equities and futures markets combined. This can be good news for traders as one will find that a true trend is more sustainable in FOREX and as long as they focus on the Major support and Resistance levels on a chart, Technical Analysis can play a useful tool for effective trading. At the same time it is useful to keep an eye on Political and Economical Data releases as they really can impact the FX market in a big way. return to top

	04. As with all trading strategies, one must always apply stringent risk and money management rules. What kind of risks are waiting for a Forex-Trader and what are the special preparations you have to make for the FX market? Like all financial markets, one must have a full understanding of the risks involved in trading whether it is FOREX, Futures or Stocks. Because of the combined volatility and leverage offered in FX, traders should pay strict attention to risk control and never put themselves into a situation where they are over leveraged. As mentioned previously, News can have a swift impact on the FX market and therefore using Stop Loss Orders are essential. return to top

	05. Is it possible for a person who has a full-time job to trade in the Forex market? What are the conditions to trade successfully this way? Absolutely, the FOREX market is highly liquid and after spending some time studying the dynamics of this market, one can find unique opportunities which are not available in the other financial markets through most of the day. There are key times during the day where there is good volatility and as long as a trader is equipped with effective strategies and good risk control, these can present profitable trading opportunities. return to top

	06. Is there any basic advice for new entrants in the FX market? Be sensible, have a strong foundation with good education and respect risk rather than abuse it. FX is a very high risk product as are all margined products. The key to becoming successful in the FX market is to ensure one has a plan and a sensible attitude to risk and money management. And don't get over leveraged, as you could be out of the market very quickly. There is no Holy Grail in any of the markets. If a new trader can find a good Educational and Trading Programme and understand how the FOREX market works then this can only help them in the long term. return to top

	07. Is there a minimum size for a Forex-account? A suggested amount of capital to start with is $2,000 and of course the more available capital one has the more flexible one can be. Whatever amount you put in, make sure it is money you can, in the worse case scenario, afford to lose i.e. don’t trade with the money you set aside for your new car or house! return to top

	08. Are there recommended techniques or strategies that are commonly used in the Forex market? A trader would be in a better position to first have a look at a basket of trading styles and strategies. One can now buy a suitable and reasonably priced trading software package and back test ideas. The basic rule of thumb is to trade with the underlying trend. For higher risk traders, they may want to look at break out strategies or reversal strategies which professional traders employ around key news events. With the advent of computers and internet technology, today’s trader is in a far better and advantageous position than before to test and simulate ideas, before putting large amounts of capital at risk. The key point to remember is for a trader to find a suitable strategy to fit their risk temperament, as well as their lifestyle. return to top

	09. What are the key characteristics of the Foreign Exchange Market? The key highlights are: The FX market is a global industry that operates worldwide. The market itself is a network of traders that are connected by telephones and computers and consists of no centralised base or exchange. This is an OTC or 'over the counter' market. The most common type of FX trading transaction is called a 'spot' or 'cash' transaction where one currency is either bought or sold against another currency. Foreign exchange prices fluctuate constantly 24 hours a day, 6 days a week as the supply and demand shifts according to economic or political factors. The three major centres of foreign exchange trading are London, United States and Japan. London trades the largest volume due to its time zone and stringent regulation under the Financial Services Authority. return to top

	10. What are the key reasons to Trade Foreign Exchange? There are 3 key reasons: Speculation To make short term profits from fluctuations in exchange rates. Hedging To gain protection from losses due to changes in exchange rates. Physical Delivery To acquire the foreign exchange currency to purchase goods and services from other countries. return to top

	11. Who are the main participants in the Forex market? The main Forex Market Participants are: Interbank participants are the largest and most important. Corporations, global funds, FX market makers, hedge funds. Individual traders & investors. return to top

	12. What are the advantages of trading forex? Highly liquid markets. Leverage available (remember this affects losses as well as profits). Full transparency with 100% electronic execution. Low transaction costs. Trending markets. The largest and most liquid market in the world – currently worth $2 trillion daily. Multiple liquidity providers. Institutional pricing at retail level. 24 hour trading. Ease of trading - enter and exit markets anytime. Transparent, competitive two-way prices. No commissions or other dealing charges (AxisODL make their money on the spread). Multiple trade sizes. No delivery or contract expiry. Many currency pairs to trade. There is never a bear market – you have the ability to profit in rising and falling markets. When it comes to trading and investing strategies, it could be argued that FX is the 'purest' market available: The Euro is not going to issue a profits warning, no director is going to sell a large holding of stock and any analysts' downgrade is going to have little or no impact on the FX market. return to top

	13. What are "The Majors"? USD – US Dollar. EUR – Euro. JPY – Japanese Yen. GBP – Great British Pound. CHF – Swiss Franc. CAD – Canadian Dollar. AUD – Australian Dollar. 85% of daily transactions involve the majors. return to top

	14. Which are the Most Liquid Currency Pairs? EURUSD – Euro/US Dollar – Euro Dollar. USDJPY – US Dollar/Japanese Yen – Dollar Yen. USDCHF – US Dollar/Swiss Franc – Dollar Swiss. GBPUSD – Sterling/US Dollar – 'Cable'. EURJPY – Euro/Japanese Yen – Euro Yen. EURGBP – Euro/Sterling – Euro Sterling. return to top

	15. How long on average does an "FX trade" last? 80% of FX transactions are open for less than 7 days with 40% open for less than 2 days. return to top

	16. How does the Trading Day progress around the world? Begins in New Zealand and Australia. Tokyo. Europe. London. Ends in New York. return to top

Dollar Holding Own After Last Week’s Gains

The US dollar is for the most part flat in early week trading. Continued gains would target 1.4410/50 in the EURUSD.

The big story last week was the decline below 14625 on Friday. A trendline, channel support, and pivot lows (14800 and 14625) have been broken-the evidence supports the larger bearish wave count. The next potential support is 14410/50. Near term structure is somewhat elusive. Immediate trend is bearish under 14780. Above there exposes 14820, 14910, and 14970 as resistance. Listen to additional thoughts regarding the EURUSD.

Read more: DailyFX - Dollar Holding Own After Last Week’s Gains http://www.dailyfx.com/forex/technical/elliott_wave/eur-usd/2009-12-14-1540-Dollar_Holding_Own_After_Last.html#ixzz0ZiT12FKu

迪拜消息打乱美元上扬步伐

欧元/美元亚市大部分时间横盘整理周五跌幅，欧元/英镑最初向上修正为欧元/美元提供了支持。午盘有关迪拜世界的消息推动汇价强劲反弹，日内市场缺乏重要 数据公布，预期该消息可能会在短期继续影响汇价。但从技术上来看，鉴于汇价周五下破1.4626关键支持，逢高可能仍是卖出机会。

迪拜消息打乱美元上扬步伐

亚洲早盘美元继周五的零售销售以及密歇根消费者信心指数后继续保持坚挺，各主要货币除日元外继续承压。

亚洲股市未能跟随周五美股上扬，为日元提供了支持，尽管日本第四季度短观报告显示经济仍然疲软。

亚市午盘阿布扎比宣布无条件为迪拜政府提供100亿美元的资金，主要用来偿还迪拜世界的债务，迪拜政府通过重组法令，为迪拜世界提供担保以及阿联酋央行准备为本地银行提供支持的消息在市场引发轩然大波：

各主要货币兑美元强劲反弹，并纷纷创出日内新高，美元、日元则成为抛售的对象。

但投资者也许还记得，迪拜债务风波传出的当天各主要货币兑美元全面下挫，但在美国收盘时已经回收了当天的大部分跌幅，

这意味着目前市场对该消息的反应可能有些过度，既然当初问题的暴发都没能在市场引发恐慌，现在的初步解决对于目前金融市场的风险偏好来说只能是锦上添花。

并且从最近汇市与股市的关联性大幅减弱来看，非美反弹可能也难以持久。（贺华明）

亚市重要数据或事件：新西兰10月零售销售月率持平，核心零售销售增长0.5%；日本第四季度大型制造业前景指数升至-18，非制造业指数降至-19，但均好于预期；日本10月工生产修正值月率上升0.5%，年率下降15.1%，与预期一致
欧洲时段重要数据或事件：瑞士11月生产者/进口物价指数，欧元区10月工业生产

相关市场：国际原油下跌0.23%，报69.73美元；伦敦金上涨1.03%，报1126.40美元；道指期货录得年内新高

http://www.dailyfx.com.hk/commentary/afternoon.html

Forex Sharing

Hi Guys,

I hope you had a good week trading. There was a lot of volatility in the majors this past week, I hope everyone was on the right side of their trades!

Which brings me to my topic for this newsletter. One of the most important rules of trading is protecting your principle and using proper risk management tools.

The most critical components of risk management are position sizing, setting stops, setting reward risk ratios, and draw-down control.

One of the biggest mistakes traders make is over-leveraging and taking a big hit on one single trade. Not only does this deplete your account balance, but it also can deliver a gigantic blow to the trader's psyche and mind set. Even though systems can be effective, only a few traders end up profitably following them. For now it is crucial to understand that taking a big loss on any one trade is one of the most detrimental things that can happen to a trader. Traders on a hot streak tend to feel invincible and begin to over-leverage or go for it on one "can't lose" trade and then end up unable to recover their psychological balance and ability trade effectively afterward. One way to deal with this problem that I personally consider the holy grail of risk management is setting the maximum percentage you are willing to lose on a single trade before you even begin trading. I recommend this percentage be below 5%; I personally use 2%. Someone with more guts (or experience) may use 4%-5%. Setting the maximum account risk percentage is vital to being able to retain your capital and continue trading the markets. The calculation is as follows:

Total account size: $100,000
Maximum single trade loss %: 2% {set}
Maximum single trade dollar loss: $2,000

This means that you have to calculate your loss on a single contract, lot or share based on the distance from your entry to your stop and then divide it into your maximum single trade dollar loss to obtain your optimal position size in contracts or shares. This to me is the most critical concept in trading.

Also please keep in mind that during fast market situations (i.e. news releases) stops may not be honored by your broker and you may get a fill past your stop price. As you know, a stop order turns into a market order once the stop price is crossed. This is all the more reason to trade conservatively. Different brokers have different pricing policies so if you plan to trade during these times read the fine print in your trading contract and let your broker know what you plan to do so you know that they can handle your trade size and needs. This prevents later misunderstandings, busted trades, and loss of trading equity. Most brokers reserve the right to "bust" (i.e. take back) a trade at any time for any reason or no reason, but must do so within twenty four hours of the trade occurring.

Example for $100,000 account in Forex contracts:

Entry: 1.1850
Stop: 1.1830
Max $ loss per contract: 20 pips $200
Maximum Single trade dollar loss from above: $2000 (2% of $100k)
Optimal position size: $2000/$200 = 10 contracts

This will keep trades small and emotions under control during the learning curve and eliminate the large losses that can cost you your trading capital and end the trading experience.

I know this is not the most exciting stuff, but it's the cornerstone to any good trading system. We do offer some third party services that teach you basics like this, and best of all they are free to our clients. If you have any questions about this or any interest just let me know.

Alex Nekritin
(P) 1-781-444-6969
(F) 1-781-444-0311
alexn@traderschoicefx.com
www.traderschoicefx.com