Welcome back Forex fans.With all the hype and misinformation out there about Forex robots, don't you wish somebody would just buy all the robots, test them independently and publish the results? Well, someone has and you can get the results for free at http://www.driven2success.com/.
You have to submit your name and e-mail address to be allowed access to the site. But that's a small price (no price really) to pay to see the real-live behavior of all the leading robots tested on demo accounts over an extended period of time.
Once you get the URL, you will receive daily e-mails with overnight results and updates on the robots being tested. I find this helpful and its let's you know whose making and loosing money on almost a daily basis.
How does this guy make any money? He acts an affiliate seller for these robots. So if you click on the link to a robot website, the URL has a special code that allows the publisher of this site to make a bit of the sales revenue. I don't know how much money he can make with that approach, but either way its a great service! Check it out!
I'm working on building up an EA for my next post, but its slow going due some commitments. So take a look the site above, your more likely to make money with those robots than anything I'm writing here anyway. Enjoy.
There are other websites doing similar things Chris, so I would expect they are in it for 'the money' and part of that may include not only a cut for referring a customer but an incentive for some 'extra attention', much as store merchants are rewarded by product makers for prominently displaying merchandise. What really makes me wonder if this and similar websites provide information, is that they don't test in live, real money situations. Most MT4 broker feeds change when going from demo to live, as is well documented on the net. Interactive Broker feed, which I use, does not, as far as I can tell. But I don't have the great interface of MT4.
ReplyDeleteRedford-
ReplyDeleteThanks for the comment. I was looking through my other blog to see if you were the one who gave me this tip in the first place, but I couldn't be sure. Otherwise, I would have given you the credit. Thanks again for the fxreview.com referral, that's a great blog.
Anyway, I am aware of the differences between back testing and demo testing. But I wasn't so much aware of the difference between demo and live trading. I suppose the FCM can change the rules or re-engineer the price feed at any time to defeat any robot if it becomes too profitable in live accounts. But they could loose their own customers if they do that so they have to walk a fine line.
The only defense is to buy the robot, compare demo and back-testing over a period of a week or so. If that performance matches up, then you can run a live account and demo account at the same time to see if those match up.
With that data, if the demo account trades, but the live account doesn't, then something is up.
I have found that that the amount of history present in the copy of MT4 can influence whether the robot will trade. So its good to make sure there's as much history as possible for the symbol in question.
I'm curious how you are doing with Forex Godfather, because I was thinking of adding that one (along with Forex Nightfox) to my portfolio.
Let us know if you don't mind. Thanks,
Chris
Daniel Fernandez also makes reference to broker re-quotes, etc in live trading that you won't find when running demo forward trading. This problem would apply significantly to scalping EA's, probably making demo forward testing results completely useless. For swing trades, I don't think there would be much of a problem at all, for example Godfather EA wouldn't be affected IMO.
ReplyDeleteI still haven't settled on my EA stable, Chris, but I've found a few others that I also think can do well in live trading, along with Godfather. These include Forex Transporter (which I own), Forex Megadroid, Forex Nuke, and a new one put out by the Godfather folks, Forex Juggernaut. In addition, I've got another one on test right now, it's called PerceptronOccilator, and it's a creation of Funyoo at http://www.tradingsystemforex.com/, where I've signed up for the Elite section ($99 a year). Funyoo is a prolific creator of EA's, usually requested by the Elite members (I've got a request in now), but he also creates his own from other ideas. You, as a budding EA writer, could (1) benefit from his coding ideas, and (2) could contribute to his work as well. He's swamped with requests and has very little help, but his output is amazing.
There's another very interesting EA which is available for 30 days for free - ForexPipZen, from http://forexpipzen.com/. I downloaded this today, and backtested from 2008, and it's damn good on demo. It seems to be almost a scalper so the jury's out on live trading.
I really don't want EA's that are martingale, or add to losses, and many of the commercial versions of EA's do one of these bad things. It may be best to have a couple of frequent trading near-scalpers, and a couple of swing trading EA's for balance. My goal is to have three or four EA's providing some time/frequency balance, and that don't trade the same way. Diversification, if you will.
My REAL goal is to develop an EA myself or with someone who can code expertly in the MT4 language. I have a request into Funyoo for my best idea to date (the method I use to do manual trading), and I'm hoping he can code it up for me. The problem with that is, if by chance the thing works, it won't be long before others will hear about it. However, the forex market is so big it may not matter. Anyway, I'm having fun trying to beat this game, and maybe that's half the objective. I'll continue to follow your path.
Redford-
ReplyDeleteThanks again for the great comments. Every comment you leave has a wealth of information.
I took a look at tradingsystemforex.com and its not quite as easy to understand as driven2success, so I need to spend some time getting through that.
Let me get up to speed with my EA writing and I think we can work toward coding your EA for you. As long as you can fully describe the algorithm, I should be able to code it for you. Besides, I need the experience and you need the coder.
As you can see, I have a bit more work to do before i'm ready for that. But we'll get there, slowly but surely.
I have setup a yahoo group for us to communicate more directly and share files. I'll be ready to share how to get access to that in a few days time. I just want to have one EA completely coded, backtested and uploaded which will take me some more time.
Thanks again for all the great information and check back later,
Chris
Hey guys, I am enjoying reading your comments. You guys have been getting me excited about EA's. I have completed coding my method last night, (still doing some tweaking), and back tested it. My results were very close to my manual back testing, (before I knew I could do it on MT4). I ran into one problem though. I had the EA running last night on my laptop on the EUR/USD and the GBP/USD daily chart. I had an anticipated signal coming up on the GBP/USD and wanted to see my EA in action. I closed the screen on the laptop and today found the signal did not hit when it should have. I don't understand. Not sure what happened. I had the same signal, manually, in my live account and I know it hit and exited. I don't think closing the laptop, (not in standby, not in sleep), would keep the signal from being transmitted, would it? Can I only have the EA running on one chart? Not sure what I missed.
ReplyDeleteAt any rate, Redford, if you need a coder I am sure Chris can get to the point of being able to code for you. "Once a programmer, always a programmer", a good experienced programmer can learn any coding language.
JT
I wouldn't be surprised, townjet, if your laptop stopped processing stuff when you shut the screen. That seems to happen with mine, but I haven't really tested it much since I use a desktop most of the time. SOmething to watch out for.
ReplyDeleteChris, I've got the body on an EA that could easily be modified to suit my method, and I'd like to get it to you. If you have my email address (I'm assuming you have my email since I'm a commenter), send me yours and I'll send you the EA. Otherwise, you could tweet me at @jimbobray. It's quite sophisticated with all sorts of settings for money management, gmt time adjustments, order entry,etc. so even if we never get it working, it could still be a useful template. It functions now (but not profitable), but there's some significant tweaks that it needs, and for that I would need some help. I can see that it could be profitable (IMO) with the right changes. And of course, it would be a shared EA for anyone willing/able to make the needed changes. The guru's are too busy at the forums I frequent.
JT-
ReplyDeleteThe laptop will definitely go off-line when it does a suspend or hibernate. Any open orders with the broker may get executed, but from what i've learned dealing with EA's the less you broadcast to the FCM, the better.
Redford, I sent a follow to you but I don't think I can direct message you until you accept my follow or you follow me at http://twitter.com/tcxmon. Give it a try, you can also direct msg me your e-mail.
Thanks,
Chris
Just an update here. When you add your EA to a chart you need to check the Allow Live trades on pop up window. This puts a smiley face next to your EA on the chart telling you that live trades are enabled. I think you can do a overall setting on tools->options->expert advisors tab.
ReplyDeleteHello Ya'll,
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