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)
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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?