The Rules of Automated Trading Championship 2010
I. General Provisions
- MetaQuotes Software Corp company serves as the Organizer of the Championship.
- The following companies serve as sponsors of the Championship:
- The Championship begins on October 4th 2010, and ends on December 24th 2010.
- Registration begins on June 1st 2010 and ends on September 25th 2010.
- The prize money consists of $80 000:
- First place - $40 000
- Second place - $25 000
- Third place - $15 000
- The Organizer provides the server equipment, on which the participants’ experts will work non-stop throughout the duration of the Championship.
- All of the Participant’s operations are made with “virtual” money only.
- Participation in the Championship is free.
- Any person, who has reached the age of 16, may participate in the Championship, regardless of his/her citizenship, gender, and professional affiliation.
- Former and current employees of the organizing and sponsoring companies, as well as their family members and relatives, are prohibited from participating in the Championship.
- Registration is required in order to participate in the Championship.
- The Participant agrees and obligates to provide truthful information about himself/herself during registration. Incorrect registrary information will lead to disqualification.
- Participants have the right to register one time only. It is prohibited to register one’s friends or relatives – this will lead to disqualification. If it is discovered that the registered persons lack the necessary knowledge of trading, these persons will be disqualified.
- Attempts to complete multiple registrations or the usage of anonymous proxies will lead to immediate disqualification.
- The Participants agree not to present any financial claims, as well as any other demands, to the Organizer and Sponsors of the Championship.
- The Organizer retains the right to decline a Participant in registration without an explanation, as well as disqualify a Participant, provided that an explanation is given.
- By registering for participation in the Championship, each Participant demonstrates a full agreement with the given Rules, without any exeptions or limitations.
III. Expert Advisors for MetaTrader 5
- Programs are accepted in compiled files *.EX5, as well as in their original format *.MQ5. DLL-libraries are prohibited.
- It is allowed to use the following:
- One expert (is placed in catalogue/mql5/experts)
- One data file (is placed in catalogue/mql5/files) in any format besides the executable
- Up to 5 user indicators (placed in catalogue/mql5/indicators), there are no limitations on the usage of built-in indicators
- Up to 5 libraries (placed in catalogue/mql5/libraries)
- Each expert is launched on a separate terminal from one account, and only on one chart, chosen by the Participant.
- Multicurrency experts may use any currency pair from the 12 available ones.
- Experts will be working solely on the equipment of the Organizer, without external control.
- Prior to gaining access to the Championship, each expert undergoes a preliminary check by the Organizer on the compliance with the formal rules.
- Experts may contain limitation on their usage outside the Championship, but must satisfy the following demands:
- Be operable and testable throughout the time period of January 1st 2010 to December 31st 2010
- Be operable with accounts numbered from 600 000 to 650 000
- Be operable with demo-accounts, opened on the server of access.metatrader5.com:443
- never use scalping: if the profits of 25% of trades, made by the end of the contest, are detected to range within the spread, the Participant will be disqualified
- Properly consider the settings of financial instruments without rigidly set parameters (limitations by lots, spreads, minimum deviations from the market, etc.)
- Make a minimum of 5 non-demo trades in the first 8 months of testing (2010.01.01 - 2010.09.01) and in the 3 months of the contest
- Be free of any critical programming bugs in the code (looping, freezing up, etc.) or any clearly harmful actions
- Be efficient in CPU resources and computer memory
- If the Expert Advisor's behavior during preliminary testing essentially differs from that during the Championship, the Expert Advisor will be disqualified.
IV. Trading terms
- For the purpose of the Championship, a special group of accounts called demochampionship, on the MetaQuotes-Demo server (access.metatrader5.com:443), is used. Accounts in this group are created by the Organizer only. Account numbers from 600 000 to 650 000 are reserved for the Championship.
- The initial “virtual deposit” consists of 10 000 USA dollars with a leverage of 1:100. It is prohibited to fulfill the account.
- There are 12 currency pairs with accessible minute histories from the year of 2005, selected for the Championship.
- The minimum trading amount is 0.1 lots, and the maximum is 5 lots, with an increase by 0.1 lot on every order.
- The maximum amount of pending orders for all symbols at any point
- The maximum combined amount of positions and pending orders' lots, regardless of the direction on one symbol, is 15. Stop-losses and take-profits are not taken into account.
- The Stop Out level (for forced closure of positions) is 50%.
- The trading conditions will be created as realistically as possible:
- Floating spreads
- Trade request processing time from 2 to 7 seconds
- Requotes will be present
- The minimum allowed market deviations might change during the time of news release and in accordance to the fluctuation of the market
- There may be slippages in execution during the gaps, in which the news are published
- Trades, made at non-market prices, will not be voided
- More detailed specifics of the contracts are provided in Appendix 1.
V. Publishing the Results
- During the Championship, the following materials are automatically published in real-time mode:
- Web statements of participants
- All journals (terminal logs and expert logs) from the clients’ terminals
- Rating and comparative tables are updates once every 5 minutes.
- Logins and passwords of the participants will be open to the public (without access to trading).
VI. Safety and Non-disclosure Guarantee of the Experts’ Code
- The Organizer guarantees that all of the Experts' files, received from Participants, (including custom indicators and libraries) will be immediately deleted at the end of the Championship, provided that the Participant had not authorized the publishing of these files.
- The Organizer guarantees that only a number of highly authorized staff members of MetaQuotes Software Corp. will have access to the Participant’s programs.
- In case of the Jury's well-grounded claims against the Participant's program and of the Participant's agreement to the audit, a trilateral (respectively, by the Jury, the Organizer, the Participant) audit will be performed. If the Participant refuses to engage in the audit, he/she may be disqualified.
VII. Determining the winner (of the prizes)
- At the end of the Championship (at 23:59 on the 24th of December 2010, trading time) all positions will be forcedly closed.
- Only three Participants who have the largest positive
profits by the end of the Championship will be declared as the Winners.
Here positive profit means an amount greater than the initial deposit.
- If 2 or more Participants have an equal balance, the Jury makes the final decision.
- If none of the Participants have a positive balance, the Championship is considered to have no winners.
- The winners agree to have their first and last names published.
- The Winners must agree to participate in publicity and marketing events, conducted by the Organizer and the Sponsors, including interviews, photo-reports, and public announcements, made through mass media about the occurring events.
VIII. How the award is paid
- The Winners must send the photocopies of their passports (photo page and residence data) by fax no later than 7 working days after they have been declared winners, in order to confirm their identity. If this provision is broken, the Winner will be automatically disqualified.
- The Winner agrees to provide his/her bank requisites within 7 working days after he/she has been declared Winner.
- If the Organizer cannot reach the Winner (by phone) within 7 days, the Participant can be disqualified by the Jury's decision, and the Winners list can be revised.
- The prize money will be transferred to the Winners' accounts by bank transfers within 7 working days after the bank requisites have been received.