Clarification and relieve for Dukascopy JForex Strategy Contest

I found out that the competing strategy in the Dukascopy JForex Strategy Contest doesn't need to be 100% automatic! According to Contest Support in the official forum, I can set parameters like take profit target, stop loss, and long-only or short-only trades. That make this contest substantially easier to program as I can implement a semi-automatic strategy, which is what I prefer in my real trading. The problem with building an automated trading system is that market conditions change frequently and without notice. Thus, it takes more than a few lines to program a consistently profitable system to filter out undesirable conditions. As I discussed before, because all winners in this contest have to publish their source codes, I don't want to spend too much time on this contest. Now that I know I can trade semi-automatically in this contest. I can just do my analysis manually and then use the strategy to execute trades when I so desire. That is exactly like my real trading process as illustrated before. As you can imagine, I am very happy of this news. I don't need to scratch my head anymore to build a new strategy for next month's contest. I programmed and tested several new ideas in the past 2 weeks but haven't found anything better than my existing strategy, which has been doing well in April. This Dukascopy JForex Strategy Contest has been a great incentive for me to become familiar with JForex. As I intend to use it for my real trading at Dukascopy (open an account with this affiliate link to receive 35% rebate on commissions) later this year, this is a win-win situation for me as I learn the API and possibly win some prize money at the same time.

Comparing Trading API from 6 Online Forex Brokerages

Choosing a discount broker for forex trading is time consuming. As the forex market is not centralized, choosing a discount broker is sort of like picking a stall in a farmer's market. They all offer the same product, but prices, features, quality, and services can vary considerably between fx brokerages. One criteria that I consider seriously is the Application Programming Interface (API) offered by the broker. Most people couldn't care less about API because they never intend to develop their own automated trading program. However, if this is something that interests you, then I'd like to save you some time here with the following table.

[caption id="" align="aligncenter" width="570" caption="Forex brokers API table"][][][/caption] All the dollar values are in U.S. dollar. I highlighted the important limitation of each API. I have different level of experience with each of these six APIs. As of this writing, I am using JForex from Dukascopy for various personal reasons.

Posted 14 April 2010 in forex.