Ray the Random Robot's Report for November 2010

0

The first day of a new month has arrived, and Ray the Random Robot™ has asked us to update you all on the progress he has been making in the numerous  MetaTrader 4 automated trading contests he has been competing in recently.

Before we do that though, let's take a quick look at Ray's live MT4 spread betting account at Smart Live Markets. Here's the state of his account today, courtesy of Myfxbook:

Smart Live spread betting account after two months trading

Smart Live spread betting account after two months trading

A profit of 58.4% after 2 months isn't bad going, but what sort of risks has Ray been taking to achieve that impressive result?  The Myfxbook statistics are somewhat misleading in that regard.  We rapidly built Ray's account up to a total deposit of £2,500. The maximum drawdown of £735.76 works out at 21.04% of that total.

Moving on to those contests, both the MIG FX Grand Prix and the Myfxbook/FXOpen ECN Trading Championship are now complete. Here's how Ray got on in the MIG contest:

MIG FX Grand Prix contest final statistics

MIG FX Grand Prix contest final statistics

Ray's bottom line at MIG was a profit of 55% after suffering a maximum drawdown of 27%. That's in just one month's worth of trading remember. Ray was also only allowed to trade for one month in the Myfxbook/FXOpen ECN Trading Championship:

The Myfxbook/FXOpen ECN Trading Championship final statistics

The Myfxbook/FXOpen ECN Trading Championship final statistics

The bottom line this time? A profit of 64%, following a maximum drawdown of 51%.

Some impressive profits, although obviously those have only been achieved after Ray has taken considerable risks with his mountains of make believe money. For a more graphic illustration of the sort of things that can go wrong take a look at Ray's FXOpen demo account, which he began experimenting with before the ECN championship got started:

Disaster strikes Ray the Random Robot's FXOpen demo account

Disaster strikes Ray the Random Robot's FXOpen demo account

Now you know why we keep on saying that this particular sort of Random Robot should never be used on a live account!

Filed under Trading Systems by  #

Leave a Comment

Fields marked by an asterisk (*) are required.

Subscribe without commenting