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What is considered a great EA? :)

paul
Sep 14 2009 at 10:19
12 posts
mks1957
Sep 26 2009 at 10:39
5 posts
A great EA is one that makes money consistently. I thought I found one in Pipturbo. First 2 days I made USD500 on a USD2,500 account, but suddenly on the third day I lost USD300 and another USD400 on the fourth day! Now am down about USD400 on my equity!! Let me me know if anyone one has won consistently with an EA, say over a period of of 3 months.

jacky
Sep 26 2009 at 15:21
10 posts
@mks1957

Just try robominer, it's simple,set and forget system, as long as we use good money management, broker not bankrupt. it is ok. it is a very long term profitable and stable EA.
I am not the man of robominer, just want to share with others. Treat forex trading as a real business, not a trading game, so just make it 4 % - 5% equity growth a month for average is very good enough.

Their Official website performance : https://www.forex-goldmine.net/performance

My backtest for EURCHF pair : https://www.forexsharing.com/306277

Independent website test for many kind of EA : https://www.4xproject.com/robot/ea-demo-tests/
                                                                   https://www.forexpeacearmy.com/test_lab/all_forex_tests#az_r
       search for robominer, very stable for long time performance...slowly but sure, and many other

It is not a 90 % modeling quality, but I think it is reliable enough,since robominer is not a scalping EA. It is not to show off that start from equity 2000 usd becomes 96402 usd, but just to show that it is a constant and stable EA for a long time, as long as we stand and hold for drawdown and price moves in the high and low historical price.But trade with AudNzd is the main pair for robominer now.


eagleye (eagleye)
Sep 26 2009 at 16:48
2 posts

Fulltime247 posted:
   Also StephanusR - I looked at your trades and noticed that you're losing trades when they turn against you 20 pips OR LESS. YOU CANT CLOSE TRADES THAT SOON WITH A EA!!


Actually you can if you have the mq4 source file. You can take whatever profit you like in $ or the currency of the account by adding a simple condition to the closing signal...

eg. to take $1 profit.

if ((AccountEquity()-AccountBalance())>= 1) Order = SIGNAL_CLOSEBUY;


Fulltime247
Sep 26 2009 at 17:44
131 posts
<img src=''/><img src=''/><img src=''/><img src=''/> - Eagle I didn't mean that it wasnt possible - just that its not smart. You'll kill your account taking small profits and/or closing trades when they dip 20 pips. Almost every trade you enter will dip 20 pips or more before returning to profit. If you close every trade at minus 20 pips. You'll end up slowly eating your account while taking tiny profits.

It ain't easy being Cheesy!
LEHayes2
Nov 04 2009 at 08:35
112 posts
I am curious, if you like Robominer, take a look at this one and tell me what you think of it: https://www.Myfxbook.com/Search/BBW

There are actually 2 of them there. Check them both out and let me know what you think of them.

momentum
Nov 06 2009 at 10:17
6 posts
hi,

Big warning on robominer..... !!
Your account would look like this. I hope for the owner that this is not robominer....
https://www.myfxbook.com/members/Forextrade/tradehunter/2630

First a good (EA / system) open trades with Stop loss !!

1. What % per month should it be averaging?
Well make 5% / month and your are safe....

2. How long should it be forward tested?
Well I fwd test at least 6 month.

3. Do you think back tested results are important?
It is for me but will not trust the gain results only fwd test will.

4. What other factors should we look at before buying an EA?
I try to learn from my mistakes and I will never buy an EA that.
a- open trades without stoploss or have not hidden S/L ( Robominer do not)
b- No new EA's ....

5. Are most commercial EAs hyped?
Well I know coders that open EA's in 1 day so why would someone sell an EA that makes money ?
I have no answer on this question :( . Maybe someone have. If I had a good EA I would not sell it....

6. Are you personally doing well using an EA?
Yes....

4xrace
Nov 06 2009 at 10:24
3 posts
hi,

I run an evolution of robominer on audnzd. Robominer need to have some stop loss function or your gains will fly away one day ....

I do not fully agree with Momentum but Stop loss is important

freestylefx
Nov 06 2009 at 11:39
32 posts
1. What % per month should it be averaging?
what can you take as a loss? its a function of risk and if your risking lots then you want lots... The more important factor is its equity curve... is it smooth?, does it finish on a great figure but have a scary dip.. trace through it left to right as if it was your money..what would you do if you started trading at the begining of the largest dip???

2. How long should it be forward tested?
dependant on TimeFrame and trade frequency. If it trades once a week you'll want a bigger duration than if it trades once an hour... The forward test is to show how it behaves in 'real' market conditions... what happend at the disconnect? or the spike? did it all go terribly wrong.

3. Do you think back tested results are important?
Yes, if only to understand what conditions it likes... as a human you have the ability to switch it off ;)

4. What other factors should we look at before buying an EA?
Defined risk, equity curve, drawdown, support.

5. Are most commercial EAs hyped?
-if its to good to be true why sell it.
-Statistics can be manipulated, optimised backtests, multiple versions on different accounts etc.. buyer beware
-if the system matches your style and it works then of course you can make money.

6. Are you personally doing well using an EA?
yes/no/maybe ;)

stb3000 (stb3000)
Nov 06 2009 at 19:13
3 posts
1. % month avg: I expect 10% a month with moderate risk. However, I do feel it is foolish to 'set and forget' because most (not all) EA's get hammered during news. I turn EA's off during RED news.

2. At least 1 month of forward testing on frequently trading EA's.

3. I don't like backtest results to promote EA's, but think they are extremely useful when trying to determine the proper settings (if available) for the particular EA. Most importantly Take Profit and Stop Loss and Trading hours.

4. Spread reliance on pairs traded, drawdown

5. Most are VERY hyped especially out of the box. Look for Take Profits of over 5 pips. Some EA's have great results on demo accounts but when introduced into LIVE trading the slippage, spread manipulation, or broker intereference might negaitively affect the perfomance. I like EA's where you have a consistent TP of about 10 pips or more.

6. YES

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