So, I had an idea. There are only 3 FOREX brokers left in the United States. Open an account with each one, fund each one with the exact same amount ($500.00 USD), then run an EA that I have created on each account (same time frame, same currency pair(s)) and monitor the results with a trade explorer for each right here on FF. Why an EA? Take the human factor out of the evaluation. You also know that all of the accounts are being treated the same (from the traders perspective). Any differences in results would then be as a result of the broker and not the trader.
The rules would be simple:
1. EA runs 24 hours a day 5 days a week when the markets are open.
2. No intervention is permitted during the week. The EA has to do it all.
3. Risk levels are the same for each account.
4. No limits on drawdown. If the EA sucks, it sucks until the account is wiped.
Minor edits to the EA would be permitted only on the weekends and must be applied to all three accounts exactly the same.
Part of the driving force behind this is although I want to trade manually, finding the time is nearly impossible and trading the daily charts is far too slow for my style. This would allow active trading on the accounts regardless of what I have going on outside of trading.
I chose 500 USD as a starting point because I believe most accounts in the US start 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 problem setting up the accounts and running the EA's from my server.
So, what's your opinion on doing something like this? Any other rules or guidelines you would like to see?
The rules would be simple:
1. EA runs 24 hours a day 5 days a week when the markets are open.
2. No intervention is permitted during the week. The EA has to do it all.
3. Risk levels are the same for each account.
4. No limits on drawdown. If the EA sucks, it sucks until the account is wiped.
Minor edits to the EA would be permitted only on the weekends and must be applied to all three accounts exactly the same.
Part of the driving force behind this is although I want to trade manually, finding the time is nearly impossible and trading the daily charts is far too slow for my style. This would allow active trading on the accounts regardless of what I have going on outside of trading.
I chose 500 USD as a starting point because I believe most accounts in the US start 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 problem setting up the accounts and running the EA's from my server.
So, what's your opinion on doing something like this? Any other rules or guidelines you would like to see?