Algo Trading

[Bourneidentity]

Hello all,
I have recently opened a demo account on TopTradr which advertises that it operates on an algorithm to analyse trades made by its members to rank them according to not only their performance but also by their risk reward percentages. How does everyone feel about algorithm based trading competitions? Do you think they actually find better traders? Or do they put unfair biases on certain trading strategies?

 

[NVP]

can you define this a little more please ?

 

[Purple Brain]

I think you may be confusing trading algos and a broker analysing its members' trading performance. The latter is not an algo.

A trading algo is a piece of code which sniffs out trading opportunities based, very loosely in many cases, around AI, but principally on the specifications provided by Quants.

If this bunch you have signed up with want to analyse top trader of the month you need to check out another thread where the subject of trade mortality has been discussed recently.

If you want to watch for the real winners I'd suggest looking at what those in the middle of the pack, with the lowest percentage drawdowns that have been there for more than a year or so - see what they are doing - and do that too.

On the other hand this could all just be another FXCM IB as all your posts have been pumping this TopTradr outfit.

You don't really think they're going to let you play with $1,000,000 if you win the contest do you?