Your opinion on this ea please

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Hi,

My name's Steve, I'm new to the forum, fairly experienced with forex, but still pretty new to it. Tried using other people's ea's through fxddauto and didn't turn out too well, so now I'm planning on having my own custom ea's written for me so I know exactly how they work and trade

Here's the question:

Under one of the ea's systems and in gby/jpy it made 6,000 pips from 2006-2007 and a similar amount from 2005-2006, would you say that this is a good start? or do I have a long way to go before I've got something decent on my hands?

I'll test it on a few more currencies and time frames and post the results here as well to give you a better idea.

Oh and the backtests have a model quality of about 90%

I'm just looking for other people's experiences if you have any with ea's.

thanks,

steve

 

Hi !!

I think that to qualify the performance of an EA is not only by the pips that earn, but other things like drawdown, margin requirements, etc.

For me, an EA that needs a very large amount of money to trade safely only to gain a little % monthly is useless. I have better business to do with that kind of money.

Of course, thats for me.

Regards,

 
stevex33:
Hi,

My name's Steve, I'm new to the forum, fairly experienced with forex, but still pretty new to it. Tried using other people's ea's through fxddauto and didn't turn out too well, so now I'm planning on having my own custom ea's written for me so I know exactly how they work and trade

Here's the question:

Under one of the ea's systems and in gby/jpy it made 6,000 pips from 2006-2007 and a similar amount from 2005-2006, would you say that this is a good start? or do I have a long way to go before I've got something decent on my hands?

I'll test it on a few more currencies and time frames and post the results here as well to give you a better idea.

Oh and the backtests have a model quality of about 90%

I'm just looking for other people's experiences if you have any with ea's.

thanks,

steve

Back & demo tests doesn't replace live testing, you will get different results between the three tests, use backtests to check if the EA works or not, but never use backtest or demo tests to judge the performance of the EA

 

Hi,

thanks for your input, let me clarify a bit.

I wasn't intending to trade right off of these back test results, I wanted to forward test them for about 2 months once I've found reliable back testing paramaters.

For 1 of the systems I'm referring to, it was on a 10,000 deposit, 0.1 mini lots, around about 12% drawdown so about $1200 up to about $2500 if I remember rightly.

So with about 6,000 pips in a year with a draw down of about 12% that's not too bad, I don't think, how about you?

I haven't tested it with larger lots yet, as I only intended to test it on what I was comfortable risking, no way am I going to trade full lots until I get about $100k

Is there a general level of acceptance for profit, draw down %, etc that people go by?

Is there some minimum that I should be aiming for.

Oh and profitable trades are about 80%, quite important, should have mentioned that.

regards

steve

 

3-7 % draw down is fine

10-15% profit is fine

this is too low for some but its reasonable on 100K and more account balance

 
stevex33:
Hi,

My name's Steve, I'm new to the forum, fairly experienced with forex, but still pretty new to it. Tried using other people's ea's through fxddauto and didn't turn out too well, so now I'm planning on having my own custom ea's written for me so I know exactly how they work and trade

Here's the question:

Under one of the ea's systems and in gby/jpy it made 6,000 pips from 2006-2007 and a similar amount from 2005-2006, would you say that this is a good start? or do I have a long way to go before I've got something decent on my hands?

I'll test it on a few more currencies and time frames and post the results here as well to give you a better idea.

Oh and the backtests have a model quality of about 90%

I'm just looking for other people's experiences if you have any with ea's.

thanks,

steve

Are you back testing with control points or every pip? It can make a HUGE difference. If you already know this then disregard. If you didn't know this, make sure you use every pip.

 

Hi,

I normally optimize with the fastest method to see what's going to work, then check it and several others with every pip to make sure

What I stated above was based on every pip I believe.

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