So I was looking at the latest contest on myfxbook and saw the top contestants are making INSANE profits and obviously using the same EA to do this. we are talking 6700% in one day!?
i pose the simple question - how the fuck is this possible??
here are some links:
the competitors results -
http://www.myfxbook.com/contests/forex- ... ompetitors
current leader -shok74
luckily you can download the CSV of the trading history, which we might find some clues in.
here's an excel doc where i have highlighted the different pairs as well as pips by amount.
so i see the following:
1. very short trades - from 0s (sub 1000ms) to 1 second at most
2. the following pairs - AUDUSD, EURJPY, EURUSD, GBPUSD, NZDUSD, USDCAD, USDCHF, USDJPY
3. very small pips (TP and SL are pointless)
4. extremely frequent trading. trades every single minute.
5. trades are often taken in both directions within the same minute. cant see a pattern there though.
6. there are winners and losers, about 50/50%
7. lot size based on account size percent % (fixed risk)
//----
here's my best guess as to what the EA is doing
1. open a trade according to some rule based on tick movement, eg. x pips movement per ms? or randomly?
if it starts to move with the trade direction - keep open until it starts going against the trade or until 1000ms
if it starts going against the trade direction - close
repeat.
or perhaps this is some form of arbitrage?
what do you guys think?
another clue i found - user Logger has the trade comment 'SSv1.1_strategy_A_[sl]'
it seems like its too good to be true. maybe someone can code a simple EA based on the above rules?
Extreme Profits - help reverse engineer this EA?
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Extreme Profits - help reverse engineer this EA?
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- rapple
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Extreme Profits - help reverse engineer this EA?
Are these Live accounts or Demo's. Often with scalpers it is very difficult to get the same results due to slippagetrendinator » Wed Feb 04, 2015 12:26 pm wrote:So I was looking at the latest contest on myfxbook and saw the top contestants are making INSANE profits and obviously using the same EA to do this. we are talking 6700% in one day!?
i pose the simple question - how the fuck is this possible??
here are some links:
the competitors results -
http://www.myfxbook.com/contests/forex- ... ompetitors
current leader -shok74
luckily you can download the CSV of the trading history, which we might find some clues in.
here's an excel doc where i have highlighted the different pairs as well as pips by amount.
so i see the following:
1. very short trades - from 0s (sub 1000ms) to 1 second at most
2. the following pairs - AUDUSD, EURJPY, EURUSD, GBPUSD, NZDUSD, USDCAD, USDCHF, USDJPY
3. very small pips (TP and SL are pointless)
4. extremely frequent trading. trades every single minute.
5. trades are often taken in both directions within the same minute. cant see a pattern there though.
6. there are winners and losers, about 50/50%
7. lot size based on account size percent % (fixed risk)
//----
here's my best guess as to what the EA is doing
1. open a trade according to some rule based on tick movement, eg. x pips movement per ms? or randomly?
if it starts to move with the trade direction - keep open until it starts going against the trade or until 1000ms
if it starts going against the trade direction - close
repeat.
or perhaps this is some form of arbitrage?
what do you guys think?
another clue i found - user Logger has the trade comment 'SSv1.1_strategy_A_[sl]'
it seems like its too good to be true. maybe someone can code a simple EA based on the above rules?
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- Joined: Sat Dec 06, 2014 12:22 am
Extreme Profits - help reverse engineer this EA?
yes demos, but he does have a lot of impressive live accounts too - http://www.myfxbook.com/members/shok74rapple » Wed Feb 04, 2015 12:33 pm wrote:
Are these Live accounts or Demo's. Often with scalpers it is very difficult to get the same results due to slippage
- wolfeman
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- Location: Slumming it in sunny California
Extreme Profits - help reverse engineer this EA?
Most likely arbitrage. Google the "genius" EA. It's been around for years. Total scam at at cost of 2000 bucks; plus the brokers won't honor the wins as declared in their traders agreement.
Sorry to burst your bubble...
Sorry to burst your bubble...
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Extreme Profits - help reverse engineer this EA?
yep, probably arbitrage. shame... not much good for live accounts but good enough to win a forex comp!wolfeman » Wed Feb 04, 2015 1:36 pm wrote:Most likely arbitrage. Google the "genius" EA. It's been around for years. Total scam at at cost of 2000 bucks; plus the brokers won't honor the wins as declared in their traders agreement.
Sorry to burst your bubble...
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Extreme Profits - help reverse engineer this EA?
I think a true ECN broker wouldn't care about arbitrage? They are supposed to make money on commission and (maybe a little) spread markup. A good question for Jemook.
Extreme Profits - help reverse engineer this EA?
These contests are a joke, who on earth would take 1000 lots on a EURTRY trade, they may hit it lucky once or twice but I will guarantee, they will blow their accounts, no doubt about that.
They are purely gambling.
Andy
They are purely gambling.
Andy