I absolutely agree with Elkart, myfxbook will now become a very dangerous place for people new to automated trading systems, managed accounts, etc since most new traders are not aware of all the things that can be done to make backtesting results show incredible, unrealistic results. More over, the authenticity of the backtesting results cannot be verified in anyway since the statements can be modified before uploading and this also puts people at an incredible danger of being ripped off.
As Elkart said, this system uses control points and has absolutely no modeling validity, even systems that explicitely control bar opening do not have accurate simulations using this technique. However having a 90% modeling quality also does not guarantee accuracy, many other things come into play - including hindsight - and therefore GREAT care is needed when you look at these systems.
I have personally added my results for Watukushay FE (2000-2009 backtest), available for free at http://watukushayfe.blogspot.com
, an EA I coded for backtesting reliability and for long term profitability. You can download the expert for free and you can also check my live myfxbook results of this system.
I hope that this new feature at myfxbook will not lead to a scammer-party with many people losing their money on worth-less systems. However this might only be wishful thinking :S
I invite those of you interested in reliable trading strategies with live and backtesting results to visit Watukushay FE's website and learn more about the EA, or simply to REALLY inform yourselves about the faults and limitations of backtesting results and what can and CANNOT be infered from them. Thank you for reading this message :)