The Great American Broker Challenge
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Thread: The Great American Broker Challenge

  1. #1
    I had a notion. There are just 3 FOREX brokers left in the USA. Open an account with each one, finance each one with the exact same amount ($500.00 USD), then run an EA I have created on each account (same time period, same currency pair(s)) and monitor the results with a commerce explorer for each right here on FF. Exactly why an EA? Simply take the human factor out of the evaluation. You also know that each one the accounts have been treated exactly the same (from the traders standpoint). Any differences in results would be as a consequence of the broker rather than the trader.

    The rules would be simple:
    1. EA runs 24 hours a day 5 days a week when the markets are available.
    2. No intervention is permitted during the week. The EA has to do it all.
    3. Risk amounts are the exact same for each account.
    4. No limitations on drawdown. If the EA sucks, it sucks till the account is wiped.

    Minor edits to the EA would be permitted only on the weekends and has to be applied to each of 3 accounts the same.

    Part of the driving force behind this is though I wish to exchange manually, finding time is nearly impossible and trading the daily charts is far too slow to my own style. This would permit trading on the accounts regardless.

    I picked 500 USD as a starting point because I believe most accounts in america begin somewhere around that level.

    I guess what I am looking for is whether or not there is enough interest and value in doing something like this. If there is, I have no trouble setting up the accounts and running the EA's from my server.

    So, what is your view on doing something like this? Guidelines or any other rules you would like to view?

  2. #2
    Hi Mag

    I Believe That This Is a Great idea. The outcomes would be very interesting. Loing a good broker seems difficult with my experience.

    I wish I could assist in the endeavor, but I have limited time to offer. I just wanted to give a bit of help on this to you.

  3. #3
    Quote Originally Posted by ;
    So, I had an idea. There are just 3 FOREX brokers left in the United States. Open an account with each one, finance each one using the exact same amount ($500.00 USD), then conduct an EA that I have created on each individual
    4. No limitations on drawdown. If the EA sucks, it sucks till the account is wiped.
    //--

    hey magnum.... That's probably a very good concept, providing your suggesting demo dollars.... Not so very good idea if real money....

    1500$ signifies nothing to me, but before simply throwing it away, my preference is to devote it to this foreign lookin family last night with the 'we want help' sign at burger king....

    I conduct ea's in many fxcm and oanda accounts nonstop.... Fxcm with undoubtedly the smallest spreads is a true pain in the butt for an ea's market orders.... It is okay if you use limit or stop kind orders.... Oanda runs ea's without any hitches....

    But again, your idea seems informative.... And worth chasing ...h

  4. #4
    IC had the us choice from the appliion then . . .auto reply sucker.

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