| The Forex Robot World Cup (a.k.a. FRWC) is now | | | | achievement which also earned the developer a |
| officially over and a winner has been announced: the | | | | $100,000 prize! |
| LMD Multicurrency trading robot which was developed | | | | In an interview done with Drazen Ziskovic who |
| by Drazen Ziskovic of Croatia. | | | | developed the robot and from other details known |
| As you may know, there are hundreds of Forex | | | | about it, I can say that the LMD Multicurrency robot |
| robots in the world and the market is full of scammy | | | | works with detailed and intricate chart pattern |
| and shady robots sold by greedy marketers. Only a | | | | recognition algorithms. It tries to deduce the future by |
| small percentage of robots really work well and it's | | | | reading into the patterns of the price charts of various |
| difficult to know in advance which are the gems and | | | | currency pairs. This was done according to the |
| which are the duds. This is why the Forex Robot | | | | experience of Mr. Ziskovic himself through his years as |
| World Cup was established in the first place: to | | | | an active trader. |
| provide a way for traders to see robots in action, | | | | The robot trades multiple currency pairs simultaneously. |
| tested on live accounts (not back testing), all on the | | | | This creates a risk diversification effect because you |
| same platform with the same conditions. | | | | can place more trades on more markets (if you |
| This head to head battle of the robots took place after | | | | consider each pair to be a market in its own right). This |
| rigorous screening phases in which most of the | | | | also allows the robot to take a bit extra risk on each |
| submitted robots were rejects for either not | | | | trade since the diversification reduces the overall risk. |
| performing well enough or because they've been | | | | These are the reasons why it won the first prize and |
| commercially sold before (Only non-commercial robots | | | | achieved such an impressive profit margin. |
| were allowed to participate). Only 24 robots made it to | | | | The funny thing is that this guy came out of nowhere. |
| the final stage which lasted for about 2 months. | | | | It was only due to the FRWC that the rest of the |
| The LMD Multicurrency robot was the winner with a | | | | Forex world had ever heard of this robot and what it |
| profit of 145.60%. Not bad for a robot of a guy who | | | | had achieved. This seems like an impressive robot and |
| never even sold a robot before. This is quite an | | | | a real challenge to developers everywhere. |