Rules for buying an Expert Advisor (probably for beginners)

Rules for buying an Expert Advisor (probably for beginners)

25 January 2018, 23:30
Ron David Klassen
1
344

Hello, these are my personal rules on how I decide whether to buy an EA or not. I will edit this post gradually.

1. Buy only an EA from a seller who provides a real account signal. Never trust demo accounts!!!

- The longer the signal is online, the more reliable is the success or failure of the EA (example*: https://www.mql5.com/en/signals/124880)

- Take a look at Drawdown and Equity! Do not let the percentage of growth dazzle you! A good explanation can be found here: https://www.mql5.com/en/blogs/post/707138

2. Do not trust any of the seller's statements (and any screenshots) about his EA. If the seller always praises his EA and does not release a signal, it's probably scam!

3. Read all reviews and ask one or two reviewers how the EA works. A second or third opinion is always important! The seller could manipulate his signal by making manual trades or letting other EAs trade on the signal!

4. If you do a backtest, do it correctly: https://www.mql5.com/en/blogs/post/685512

5. Backtest screenshots on a product should look like this*: http://ge.tt/8tvYF5p2 (The Screenshots are from here*: https://www.mql5.com/en/market/product/24254)

The important requirements are:

- the tested period (e.g. 2010-2017)

  - the longer the testing period is, the better are the chances that the EA will work stable.

- the quality of the backtest (99%)

- Variable spread

Feel free to share your own rules in the comments section!








* I do not intend to promote or harm a seller, a product or a signal!

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