MetaQuotes, the Russian company that produces the MetaTrader forex trading platform, has announced that it is reviving its automated trading championship in 2010. According to the post on the MQL5 website:
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The latest edition of the Economist magazine has just landed on my doormat. The cover story is a 14 page special report on "Stopping Climate Change". I'll read that with interest later, but the first thing I turned to was one of several articles which mentioned Dubai's debt crisis. This one was entitled "The Repercussions of Dubai", and covers international reaction to the Dubai World announcement that it wanted to stop repaying its debts until "May 30th 2010 at the earliest".
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MetaTrader 5 has been open for public beta testing for a few days now. After a few trials and tribulations we have now got our first example robot working on MetaTrader 5. If you'd like to know what changes we had to make you can take a look at our MQL5 source code. This is just a quick port retaining the old MQL4 procedural style. We're not using any of the fancy new object oriented features of MQL5 yet.
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We've finally received the email from the Forex MegaDroid team that we've been waiting for since July 5th. Albert and John finally announced in an email to their customers on September 20th that:
More on Forex MegaDroid Gets NFA FIFO Update – 7 Weeks Late!
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Our regular readers will have gathered by now that we are based in the United Kingdom. As UK residents that means if we use a spread betting account to do our forex trading we pay no tax on our profits! This is obviously highly desirable, but there is a drawback. The vast majority of spread betting brokers don't allow you to use automated trading systems.
More on Trading Gurus Robots Translated from MetaTrader to GFT CTL
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In our previous live test results for June and July the Forex MegaDroid MetaTrader 4 expert advisor did at least manage to make a profit. Sadly the "robot" seems to have lost it's way over the summer holiday season. In our live account at Alpari UK it lost money. In percentage terms it lost a lot of money!
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The Forex MegaDroid team seemed to think that the NFA's new FIFO regulations were going to cause their creation some problems. On July 5th they sent an email to their customers promising that:
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We've chosen Interbank FX as the first broker to examine in our status reports about what works and what doesn't following the long awaited implementation of the FIFO requirement of NFA compliance rule 2-43(b). We're looking at IBFX first because they made some impressive claims about MetaTrader 4 expert advisors in their July 20th announcement:
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I logged in to my demo FXCM Trading Station this morning to see a very welcome sight, to us here at the Trading Gurus at least. It asked me if I wanted to upgrade to the latest version:
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A new version of FapTurbo Evolution has been released! This was extremely welcome news for us here at the Trading Gurus because backtesting the robot was proving to be something of a nightmare. According to the email we received announcing the new version it has:
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