Ray the Random Robot Enters the myfxbook Elite

The myfxbook blog has just been updated with a new post summarising the results of their most recent MetaTrader 4 trading contest.  It includes a revealing pie chart showing that after 30 days of demo trading,:

• 7% of accounts were profitable
• 36% of accounts broke even
• 57% of accounts were unprofitable
• 45% of accounts got margin called

Our regular readers will know that Ray the Random Robot likes nothing better than pitting his artificially stupid wits against as many other artificially intelligent "robots" as possible. In this competition he found himself up against discretionary human traders too. Ray didn't achieve his ultimate ambition of finishing in the top 10, but he did manage to finish the competition in 36th place out of 1361, which puts him in the top 3% of all entrants. Here's his equity curve showing how he managed to get into that illustrious position:

Ray the Random Robot's March 2011 myfxbook equity curve

Just in case you're unfamiliar with Ray's previous exploits, here's how his artificially stupid  bionic brain  has been programmed to behave:

• A basket of 6 currency pairs
• Enter almost at random
• Exit with fixed and equal target and stop
• Stay in the market almost 100% of the time
• Martingale money management

If you'd like to investigate further you can download Ray's MQL4 source code from our community forum. Whatever you do don't let him loose on your own live account though. Whatever you do don't let the vast majority of other "robots" loose on your live account either.