Trading Robots

Forex Robot World Cup

6
Feb

Written by Donna
Donna’s Review:
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Forex Robot World Cup

The Forex Robot World Cup claims to have put together a fully transparent, live ‘real-money’ forex robot competition. The site is also sponsored by a well known, well respected broker so I felt this warranted further investigation.

After contacting the people at Forex Robot World Cup, I am pleased to say that they were indeed fully transparent about their competition and were able to provide me with access to their Metatrader platforms where the live tests were conducted so that i was able to verify the statements as true and correct. This is something which is significant since many of us know how well many systems perform on demo and how those same systems when put live never quite match up to expectations. Being able to verify the honesty / integrity of the whole competition is also important and a big step forwards in terms of transparency which i would love to see happen more frequently with normal robot vendors.

The following system tests have been verified as true and correct by myself and are genuine live accounts (other platforms i did not check, i only checked the top 11):-

1. LMD-Multicurrency – Gained 145.6%

2. HiRider – Gained 88.11%

3. SuperVolcano – Gained 36.25%

4. VREM2 – Gained 19.39%

5. Nutcracker – Gained 14.93%

6. Simple – Gained 8%

7. Neg-Correlation – Gained 6.07%

8. Zoop – Gained 4.34%

9. CobaltFX – Gained 3.58%

10. AkuKaya – Gained 0.2%

11. USFX – Lost 0.45%

Here is a screenshot i took of the results for HiRider in the platform directly (blanked out account number for security). You can see the account is a live one by the presence of a golden coloured icon next to the account number, you can also see it is on an FXCM platform:-

frwc

Where Does This Leave Us?

Well, what i like about this whole competition now having been able to verify the accounts as real is that it gives me a HUGE headstart, as a trader, in determining if a system is any good or not! To get to this point ourselves would normally take perhaps 2 to 3 months of demo testing then a further few months of live testing on top. My only slight niggle with what they have done here in the competition is that i wish they had continued for another month – three months would have been perfect for analysing further.

“Great Let’s Buy It !”

Not so fast!! Whilst the accounts are fully verified, i would caution that we need to find out if these are “real world” tradeable, for how long, and also determine what impact liquidity may have. It is no secret that this competition has been massively advertised by a huge number of affiliates, some of them huge players in the industry. I have no idea how many copies they would sell but it is my opinion that at least one or two of these robots could create a problem when traded massively all with one (or a handful of ) brokers – anyone who has tracked FAPTurbo for a very long time knows full well the effects of too many copies of a robot getting out into the market.

What i do think is in favour of these robots, is the fact that there are a number of them. They also seem to display a pretty decent cross-section of various strategies, from scalpers to ‘basket’ traders to correlation trading. They all have their own unique points which will attract different traders. Some have very low drawdowns (and lower returns), some have higher drawdowns but fantastic returns (like the number 1 position).  Most people picking up these robots for the first time will no doubt choose to go with the first place winner. Whilst this wouldn’t be a bad place to start and i will be investigating it myself too when the time comes, actually it is some of the robots further down the list which catch my eye.

“HiRider” for instance, has very consistent gains. I also feel this one will be prone to jumps in equity though/large stoplosses, etc. now and again. But if you like scalpers with high win rates this looks to be one which is working brilliantly right now for current conditions and the drawdown is a measly 3.26% for a return greater than 88% – statistically that looks miles better to me than the first place robot which suffered a 34% drawdown – a figure which most people will say they don’t mind but in reality when it happens to you on your account it may well just scare you out of your positions.

The “negative correlation” robot has an amazing drawdown of only 0.03%. How many people will be trading this one, i’m not sure – but at 6% gain for 0.03% drawdown i know this one will also be near the top of my list for testing! Again, i think a lot of traders will overlook this one based on its “low” (low compared to what most robots tell us we can get anyway, but this is actually a great figure!) return of only 6% over two months.

CobaltFX looks to be high risk with a large drawdown and minimal profit. Nutcracker also appaers to be a bit risky for my tastes. There are a few others that are inbetween which look suitable for testing later on.

Practical Details

Forex Robot World Cup EA’s are scheduled for release on 16th February. They are not cheap at a price of $999, however if i can find and trade long term with one or two of the EAs then it is worth the cost for me and i won’t be complaining about that. Before jumping into buying this system you do need to check if it is a viable expense for you based on your account size, there is no real sense in buying a $999 set of robots if all you have to trade with is $200, i see way too many people falling into this trap. Remember, trading is a business like any other and you must carefully weigh up any expenditure against your income and levels of capital for trading and make the figures work in your favour.

Visit Forex Robot World Cup

34 Comments

  1. pete says:
    February 6, 2010 at 3:01 pm

    thanks donna for sharing with us!! great article! looking forward to trade the robots. i have been following FRWC for a long time.

  2. Rodney says:
    February 7, 2010 at 7:06 am

    Man i get paid on the 15th of FEB, i know where my money is going. Hey Donna do you know of any discount special opps? Will you have any deal going?

  3. Donna says:
    February 7, 2010 at 7:30 am

    I’m considering a bonus – but i don’t want to be overly encouraging for people to buy this as although i verified the ‘realness’ of the accounts i haven’t actually traded it myself so cannot vouch for it with my own personal results. Hopefully the vendors will put a solid money back guarantee on it too which will help (and it’s being sold through Plimus who do have a reasonable money back policy anyway).

    Make sure you are signed up to my newsletter as if i do offer a bonus i will likely include it in next weekend’s newsletter.

  4. James says:
    February 7, 2010 at 7:52 am

    I suspected the price of these EA’s to be high, but they exceeded even what I expected. After getting badly burnt with FapTurbo Evoloution (remember the hype?), I think I’ll sit this one out.

    Besides, you raise an excellent point Donna about it being a viable expense based on the account size, and also how it may impact liquidity down the road. And yes, I HAVE seen it happen!

  5. aris says:
    February 7, 2010 at 8:00 am

    hi donna,

    thanks very much for sharing with us this article about this frwc..l always follow your newsletter and it help me a lot..

    thanks again..

  6. Carole says:
    February 7, 2010 at 8:17 am

    Thanks Donna for some very realistic advise. There are many traders like myself, with small accounts, who can easily be tempted into spending $999 with the hopes of huge profits. There is even one affiliate offering to split the affiliate bonus with anyone buying from them. That would be a $250 savings but still $750 is too much to spend if you are trading a small account. You also mention a very real concern I’ve had which is the effect of too many of these winners in the market. Thanks again for all you do to assist and educate. I look forward to your evauations in the coming weeks and months.

  7. Greg says:
    February 7, 2010 at 10:10 am

    After nearly 18 months of forex trading myself with many EA Robots.. I am coming to the conclusion that most if not all robot do not perform.. As I have followed Donna site.. I am even becoming more assured of my analogy..

  8. Steve Bohen says:
    February 7, 2010 at 10:26 am

    I did leave an email asking if there is a guarantee. The reply was “Yes”. I will buy and try for the trial period at least.

  9. ibiza says:
    February 7, 2010 at 10:43 am

    Hi Donna,

    How do you know the prices of FRWC’s robots? I thought they did not reveal it yet.

    Do you believe it will be 999$ each or 999$ for a pack of the top 10 EAs?

    your website is great information :)

  10. Donna says:
    February 7, 2010 at 10:49 am

    $999 for all of them. Not sure exactly how many they are releasing though, this is the info from them i have previously:- “The FRWC’s Royal Traderâ„¢ will consist of the top 5-7 winning EAs from the competition depending on final performance results of the live trading phase.”

    Hopefully they release more rather than less robots as some of the ones that are not at the very top look promising too (!)

  11. Alec Hanson says:
    February 7, 2010 at 11:16 am

    This is great Donna! Must have missed the price in the affiliate emails. was sort of hoping you could buy certain robots, but I guess that’s less incentive for people to enter.

    Think I’ll keep an eye on you progress…

  12. robert says:
    February 7, 2010 at 3:09 pm

    great article.

    although their intentions are maybe OK , as you said an extra month of trading would be nice.

    i for example looked at all the trades hirider placed, and it looks like it falls apart in 2 methods:
    1 – sl 105 tp 7
    2 – sl 210 tp 12

    such a huge sl as in method 2 will give an 45% drawdown when hit. luckily for them it was not hit within these 2 months

    all losses came from the method 1, which traded with much smaller lotsizes.

    you can think, maybe it closes internally with much smaller SL ,but that doesn’t seem the case.

    i mapped the trades over tickdata, and saw huge drawdowns without a stop kicking in.

    so when you buy , be carefull. still do some back & demotesting. do NOT get burned.

    i will just continue my profitable manual trading

    regards,
    robert

  13. Sam Hely says:
    February 7, 2010 at 9:15 pm

    I like the idea of FRWC. seems it is the first fair robot contest in the history. Everyone remembers how MQL4 contest failed. their best robots made 1000% on demo contest but failed to produce any results in live trading.

    I bough all top robots from MQL4 2007 and 2008 and did not get anything. Simply this robots were not ready to trade live! they used such tricks like instant execution on demo, no requotes etc.

    FRWC idea is to crash all these nonsense demo robots and i like that.

  14. John says:
    February 9, 2010 at 2:12 am

    Hi Donna.

    I have to say that their site looks like a fapturbo scam, and although you “verified” the accounts i cant trust it since even the link you gave for their site is an affilite. How about putting a MyFXBook statement for once? (that applies to all of your reviews)

  15. Donna says:
    February 9, 2010 at 3:46 am

    Hi John,

    Sure i have a business here hence the affiliate links, although not at the expense of making fake reviews. I won’t use myfxbook for all my accounts as i’ve chosen to use another company. If you insist that i am faking my robot results then i can privately arrange for you to log into my VPS servers if you wish as a one off to check them yourself? Actually our affiliate business is not as hot as one might imagine since a lot of our reviews are negative ;) – something we have argued to death elsewhere so i won’t drill on about it here.

    Regarding Forex Robot World Cup, i cannot make them publish their results to any place – it is not my company, that is for them to do. All i can do is say i have logged into their systems, which i genuinely did and provided a screenshot to prove it. I do understand how a lot of people scam results and reviews but you got the wrong person here, you really have.

    Note that i have not personally tested FRWC and do not claim to have done so.

    All the best,
    Donna

  16. Bob Owen says:
    February 9, 2010 at 5:28 am

    Donna,

    I think people should realise by now, that the cornerstone of your business is trust. You know that if this breaks down, people will probably leave in droves.
    I do not have any any problem with your credibility, as I have said before, your approach to this potentially ‘dodgy’ business is a breath of fresh air. Long may it continue.

  17. Donna says:
    February 9, 2010 at 5:34 am

    Thanks. Actually we are going to start releasing investor passwords with any new accounts which get set up so that people can log in themselves and verify. I cannot get them for old accounts as we didn’t save the investor passes but in future we definitely will.

    Donna

  18. miker says:
    February 9, 2010 at 11:25 pm

    Hi Donna – much appreciated you digging into this. For me it simply filters out so much of the crap that you have to wade thru to find the rare diamonds.. hence why i always drop by your site.
    Poeple need to remember its not an easy thing to produce a good risk adjusted return via an EA – you are competing against serious money.

    cheers
    mike

  19. pete says:
    February 11, 2010 at 7:52 pm

    Thanks again donna for separating crap from good systems and providign your reviews, verifications and tests. I feel FRWC is worth a try since most eas from top 5 survived live trading phase.

  20. coral says:
    February 15, 2010 at 8:45 am

    You collect afterwards the winning results of 5 robots
    you multiply 0.02 lots by 5
    you modify the ticket number very little
    you can check the” live account” only if you buy the Royal Lot
    you obtain Fusion V1.1a

  21. chris says:
    February 15, 2010 at 8:56 am

    what have the FRWC world cup event people done? have they broke their own rules?
    given their secret revealed today, the NEW FUSION ROBOT a DNA FUSION of all the best robots entered into the event would love to know comments. i don’t like what seems to me a twist of fate.

  22. Paul says:
    February 18, 2010 at 9:26 am

    I am more than a little confused by this whole episode. I bought FAP Turbo in October last year and also signed up for FapTurbo Expert Guide. I have stopped using FAP Turbo because like you the big hits were hurting. I now find all these guys including the two mentioned above now advertising and promoting the FRWC and the Royal Trader System.

    I struggle to believe in the integrity of these people and tend to think of the whole thing as another marketing sham! Am I being overly pessimistic or is there some truth in what I say? My experiences leave me very cold and when i see people jumping ships like this case even more worried and also concerned about the impacts upon the general public out there! In addition, it seems to be bringing the forex environment into question?

    I would be interested in your views on this issue and the authenticity of yet another well orchestrated marketing campaign!

  23. Felix Udoh says:
    February 18, 2010 at 2:38 pm

    Bought the package but not using LMD as I think its the riskiest,…

  24. Aaryan says:
    February 20, 2010 at 4:21 am

    Hi Donna, thank you very much for sharing yr blog on your website, I would request you to please help me to get Forex Robots, i am from India, i was looking ahead go with Fap Turbo,i am new to this forex trading market and i like to start my trading with $500 at this moment but came across FRWC results i liked their live trading method, i would like to get Fusion V1.1a only not with other winner robot as it is very expensive as compared to Fap turbo, but they are offering all top 5 robots along with Fusion V1.1a that cost is very high for me $999, can i get only Fusion robot only and how, or i should go ahead with Fap turbo or any other good robot you have tested in live market ,Looking forward for your sooner help
    Regards
    Aaryan
    **phone number removed by moderator**

  25. Nazareth says:
    February 20, 2010 at 12:43 pm

    I am so overwhelmed from all these really crappy marketing stuff that any real trader knows in advance what kind of BS some totally non ethical “pro’s” feed to the average consumer of the trading industry. It is so obvious that EA’s are doomed to failure when they go public, either from a clear statistical evaluations of their results or from the fact that we all know that “any trading system when it’s getting revealed to the public, it will be self-destroyed”. A trading system either its mechanical or discretionary or whatever represents an EDGE over the other market participants. People just don’t get that you don’t trade against the market but you just trade against other people that constitute the market including you in the middle? Why on EARTH would anyone reveal his edge to the public if there was a real edge involved? It’s like playing POKER with your cards revealed. Come on people just abandon your “oh my god they are giving away millions for 997 backs” attitude and realize at last whoever is behind this do that for ONLY a reason: PROFIT against YOU. FXCM, wants to know in detail who is going to trade what and in with what exactly trading strategy, where’s stops where’s limits etc…SO not only by buying these “EA’s” you will give them money, not only by their unstoppable leverage and rapid trade execution you will increase their business by an enormous amount of turnover but ALSO you will allow them to take the risk of your trades-being counter party to them- instead passing them to a bank or their whoever liquidity provider. What does that mean? YOU WILL just transfer to them your current account balance with 99.999% mathematical expectation. The rest 0.001% is the probability of you shutting off your PC somewhere in the middle of this criminal process…

  26. James says:
    February 20, 2010 at 12:50 pm

    It sounds like another load of old cobblers to me. It seems that every few days there is a robot coming out that’s going to shake the Forex world. After a while it starts to get annoying if you know what I mean.
    Of course the results of these robots are pretty irrelevant using 1 month’s figures as said before. Obviously the orgainisers don’t care who wins as they’ll be a winner and the law of averages says that some will show a profit for selling. Why wait three months when they can get the money rolling in in 1 month.
    Anyway that’s my 10 cents worth. Thanks Donna for the info!!

  27. Melinda says:
    February 20, 2010 at 8:37 pm

    Hi Donna

    Is the EUR/USD going to be taken off the currency trading? There are rumours.

  28. Donna says:
    February 21, 2010 at 2:05 pm

    Hi Melinda,

    I hadn’t heard anything about EURUSD being taken off currency trading. Where did you hear those rumours? I would think that it is highly unlikely since this is the most widely traded and liquid pair.

    Donna

  29. Donna says:
    February 21, 2010 at 2:08 pm

    Unfortunately there is nothing we can do to help you here, that is the price of buying these robots. The only other option would be to try the $599 2 installment option, although it will end up costing you more. Ultimately, you need to be able to justify the purchase, and i don’t think a $999 expense is justifiable if you only plan to trade with $500 (it could take you at least 6 months if not more than 18 months, to recover your purchase costs if trading conservatively, longer if you use very low risk)

    Donna

  30. angus says:
    February 22, 2010 at 11:35 pm

    Hi Donna, I have searched your site endlessly but cannot find the link to buy the FRWC robots through you. Habve read all thecomments and your reviews so far and as usual they are up to your high standards…..thank you. Are you offering any bonuses?with the purchase of the robots through yourself? Thanking you in anticipation of your reply

  31. Jeff says:
    February 23, 2010 at 2:52 pm

    Saw a live forward test of Fusion. Had a 50% drawdown as of yesterday, with Hirider being responsible for 40% of it. Just a heads up.

  32. Felix Udoh says:
    February 23, 2010 at 3:56 pm

    Fail to understand how anyone can write off a project / product with no first hand experience of it by testing etc, but each to his own.

    Traded for almost a week now and main danger is allowing too many trades to open. Most trades are winners but better to limit your risk by allowing only small number of trades by each strategy at a time.

  33. Wann says:
    March 3, 2010 at 6:25 pm

    @Jeff

    I can confirm that very same 50% drawdown. However, I was using .05 for Fusion on FXCM UK micro. I don’t know how they managed to survice 2 months on .10. It is suicide if you factor in the possibility of 10 open positions @ 210pip SL(HiRider). Anyway, I started from scratch and used the recommended .01 per $1,000. I also set max trades for HiRider to 5(down from 10).

    -Wann

  34. Wann says:
    March 3, 2010 at 6:26 pm

    oh yeah, this was on demo only!

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