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"Strategies"

pc8multifx (pc8multifx)
Jun 08 2010 at 05:10
879 postów
Dear myfxbook.com administrator,

may I ask you whats the purpose of this new 'strategy' feature??

As far I can judge its gonna be a playground for misleading/ made up/ fabricated/ curve fitted unrealistic nonsense.

This will bring a lot of inexperienced people in jeopardy... this cant be your intention.
DoubleTrap (ForexSeeker)
Jun 08 2010 at 07:17
814 postów
Strategy is a place where you can see all the fancy back test and also to compare to real forward demo test.

Back test is just an estimate result and prediction of result.

If the newbie or inexperienced people come here, sure they will learn more about what is back test result and real forward demo test.

You are too concern that people are stupid and will believe 100% in back test. I'm sure they already paid they lesson in many commercial product that just showing good back test result.

You no need worry so much, people are not stupid, if got this kind of people so easy buy something from a none commercial website that without 90 days guarantee refund. I think he should pay the fee and learn a lesson.

Information is Gold when come to organised.
lucianccc
Jun 08 2010 at 19:48
13 postów
and.. how can I add such a strategy? i may be stupid, buy cannot find the button anywhere

Thanks
Ethan (Staff)
Jun 08 2010 at 20:58
1401 postów
pc8multifx, DoubleTrap has explained it quite well.
Above all, this is another tool in your tool-box which you can use.
Robert
robw135
Jun 09 2010 at 01:58
140 postów
I agree with pc8m. These charts are unrealistic in live trading.
However, I'd love to be proven wrong :)

R

nickster
Jun 09 2010 at 03:54
56 postów
There should be a big icon on all the accts whether the author will share or not. Keeps from asking people who have no intention of sharing their method or system.
Andy (FXAndy)
Jun 10 2010 at 09:50
6 postów
I have to admit that I was slightly confused at first between 'Strategies' and 'Systems'. Maybe it would be better to rename the area to 'Backtesting/EA Testing/Strategy Testing, or something similar?

Also, maybe some information for users, an introductory paragraph at the top of the page, explaining the differences, and that these 'strategies' have not been tested on live accounts - I mean, a yield of over 900,000% - give me a break.
Steve B (stevetrade)
Jun 10 2010 at 14:26
1415 postów
The facility to create these in MT4 is called the strategy tester. So strategies makes the most sense to me I guess.

However I would agree that some kind of disclaimer would be in order as there are no doubt people on here unaware of the failings of the strategy tester in MT4.

11:15, restate my assumptions: 1. Mathematics is the language of nature. 2. Everything around us can be represented and understood through numbers. 3. If you graph these numbers, patterns emerge. Therefore: There are patterns everywhere in nature.
Casey Lim (bestforexea)
Jun 11 2010 at 12:29
75 postów
Backtesting is just a way to say that theoretically a strategy will work base on past data. And the forward results will validate this theoretical result. And validation depends on the quality of data. Having 1minute data on a 15m TF strategy is only 15 data input.

Thus the 90% model quality.

If a newbie wants to learn about backtesting... there are articles on what backtesting is all about.

I am not sure... but live results whether demo or live is more interesting than backtesting results.

I guess I don't really want to waste time to upload a strategy and does nothing other than to show it to the world. As it is.. I find it a bit tedious to even upload my backtesting result on my site.

But... that is just me. I'm lazy... 😇
Andy (FXAndy)
Jun 11 2010 at 15:15
6 postów

stevetrade posted:
    The facility to create these in MT4 is called the strategy tester. So strategies makes the most sense to me I guess.

However I would agree that some kind of disclaimer would be in order as there are no doubt people on here unaware of the failings of the strategy tester in MT4.



Yeah I guess you're right Steve, especially in relation to those people who are familar with MT4 EA programming, and there are certainly a lot here in the MFB community. I suppose I'm just old fashioned, trading using charts, price action, and actually placing trades myself instead of letting a computer programme do all the work for me.

That said, if you've got one of those 300,000% a month EAs knocking around which actually work on live accounts, do drop me a line, as it would make my life a lot easier... 😄
pc8multifx (pc8multifx)
Jul 01 2010 at 02:24
879 postów

Staff posted:
    pc8multifx, DoubleTrap has explained it quite well.
Above all, this is another tool in your tool-box which you can use.


Reading through the posts of obviously clueless people on some of the fantastrillion% systems confirms all my concerns.....

BTW I don't agree with DoubleTraps pretty cynical view about this issue.
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