It is important to understand all the rules of MetaQuotes’s annual Automated Trading Championship. Last year’s rules are found here.
One of the most difficult rule to understand is under Trading Terms #4.
“The minimum trade size is 0.1 lot, the maximum one is 5 lots with the step of 0.1 lot for each order.”
Here is a breakdown of what it means:
1. There is only one decimal place for lot size ie 0.2, 1.3, 2.4, etc. You cannot place lots with 2 decimal places ie 0.12, 1.32, etc
2. The smallest lot size allowable is 0.1.
3. The largest lot size is 5.0.
4. “step of 0.1 for each order” means you can place a lot with 1 decimal place as in point 1. It does not mean that after you place a lot size of 0.1, the next lot size allowable is 0.2. No, it just means use one decimal place.
I think this is the most difficult rule to understand, the rest seems pretty straightforward. However, there are two more that may disqualify you from participation. Under Participants, rule #5 and #6
#5. The Participant can be registered only once within the Championship. Registration of your friends or relatives instead of you will result in your disqualification. If any registered persons display their ignorance of trading, they will be disqualified.
#6. The attempts of multiple registrations or use of anonymous proxies will result in unambiguous disqualification of the Participant.
These two rules are to prevent multiple entries by a single person, who uses other people’s names for registration. I think the organisers detect this by checking for submission of EA entries from the same computer. There are always dispute over this but to avoid any misunderstandings, it is best to submit from your own computer and let no one else use your computer to submit theirs. After all, if your friend is in automated trading, he or she should have their own computer and connections to be fiddling with EAs! Apart from detecting where the submission source is, I do not know how else this can be checked.
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