If you have registered for the main contest – the Trading World Cup – you will be automatically eligible to participate in the EA Challenge – free of charge. Simply check the appropriate option in your registration. The EA Challenge also runs in parallel to the main contest – from January 1, 2017 at 11 pm through December 15, 2017 at 11 pm. (All times are CET.)
As in the Trading World Cup and/or Swing Challenge, you will receive the access data for the virtual trading account to use in the EA Challenge via email from ActivTrades.
What are EAs?
First, let us give you some brief insights into our EA Challenge concept, its participation requirements and some information to help you decide whether participating in this contest makes sense for you. EA is the abbreviation of the term Expert Advisor. This is, in fact, a software program, or in more general terms, a program code.
This code makes it possible to trade in a trading account fully automatically, i.e. without the involvement of a trader as far as the opening, management and closing of positions is concerned. Many traders call these Expert Advisors robots or simply bots.
What are the participation requirements?
Our EA Challenge contest offers all traders pursuing a profitable strategy an opportunity to implement this with the assistance of an EA in the third virtual trading account of the Trading Awards. To be able to do that, the strategy will first have to be “automated”. Hence, a program code will have to be developed that converts the strategy into an algorithm so that it can run for 24 hours without interruption and without the trader making any manual adjustments, with the exception of maybe some program code fine tuning.
Intellectual rights inherent in the program code
If you plan to use an EA you have not developed yourself, you will have to be in possession of all licensing rights to use it or you will at least need permission from the developer to use the EA in the contest.
The event organiser and the broker will jointly verify the virtual trading accounts to ascertain that robots are actually handling the trades.
If your EA should win the contest and the developer is unaware of its use, you will lose your EA Champion title and you may be subject to criminal prosecution. Hence, we urge you only to use an EA to which you hold the appropriate rights.
Where do I find a good EA?
Many fully functional EAs are available for sale online. However, if you use one of these EAs you will have to notify the seller and obtain the rights for their use.
As a rule, professional programmers will compile the program codes required to automate your own strategy. They are frequently traders as well and are very familiar with the trading platforms on which the EA will be used. Consequently, if you want to participate in the EA Challenge, you will need a robot compatible with MetaTrader 4, which will trade your strategy fully automatically, 24/7, and without you taking any trading actions.
To find programmers who can assist you, you can visit the forum on the Metaquotes website. This company is the developer of MetaTrader 4 and 5.
We also recommend Michael Mick of IB Markets. Not only is Michael a good trader, but he and his team also compile professional codes for private and institutional traders around the globe.
What will it take for me to win?
If you achieve the feat of delivering the highest equity in your third virtual trading account at the end of the contest, you will win this challenge and will be crowned the inveus EA Champion. Of course you will receive an amazing reward as well! As soon as the contest is over, we will contact you and offer you two prize options to choose from:
- We will transfer the prize money of USD 5,000 to you right away; or
- We sell your EA on the Trading Awards platform to customers around the globe. You set the sales price and we share the profits from the sales 50/50. Quid pro quo!
What an amazing opportunity!