FPA Introduces EA Performance Testing

[pipster5203]

If you've even thought about trading forex, you've probably seen at least some of the ads for Expert Advisors. Buy an automated forex robot and spend the rest of your life relaxing while the trade bot makes trillions of dollars for you once you get it running on your broker's MetaTrader 4 platform. Maybe you even bought one to try. If your EA already made the first million for you, you probably won't be reading this.

The reality is that an EA follows a set of rules. Unlike a human, it doesn't get distracted and miss a trade. It doesn't change the position size based on how lucky it feels today. The problem is that it also keeps trading even if some huge and unexpected financial news comes out. It keeps using the same logic it was programmed with even if the market starts to react in new ways.

Since I'm in charge of the Review Moderation Team, I've seen a lot of reviews for some terrible EAs. I've also been very curious about some EAs that get mixed or even positive reviews. After long discussions with the Administrator and the programmers, it was decided that the FPA will now start a beta test of a new performance testing program for a few EAs.

How this works...

1. All EAs will only use default settings at this time. Many EAs allow users to adjust their settings. Later on there will be some comparison tests, but for now it will be default settings only.

2. At this time, all EAs will only be tested on demo accounts. True performance can only be judged by live testing, but no one should ever risk real money on an EA without giving it a demo test first. Later, any of the expert advisors that show significant profit potential will be tested on small live accounts. This will allow comparisons of live test results vs. demo test results.

3. Currently, all demo tests are using Aplari (US) as the MT4 broker. Once the programmers finish debugging things a little more, there will also be some inter-broker performance comparisons.

4. Only 5 EAs are currently being tested. I hope to see this expanded to many more in the near future.

5. EAs that are tested are now marked with a “Performance Tested” label in the FPA's reviews. For products with performance tests, there is a link to the tests in the upper-right corner of that product's review page.

6. The Performance Test pages update automatically every 15 minutes, so you can follow each EA's progress closely if you want to.


The current tests have only been going on for 1 or 2 weeks, so don't make any decisions to buy or not buy yet. Each test page has comments by our resident bot wrangler about ease of setup and any other issues.

And the EAs being currently being tested are (in alphabetical order)...

FAP Turbo
FAPTurbo Reviews
FAPTurbo Performance Test

Forex Auto Scalper
Forex-Auto-Scalper Reviews
Forex-Auto-Scalper Performance Test

Forex Robot Trader/Steinitz HAS MTF
ForexRobotTrader/Steinitz HAS MTF Reviews
ForexRobotTrader/Steinitz HAS MTF Performance Test

Forex Smart Robot/Aussie Investa
ForexSmartRobot/Aussie Investa Reviews
ForexSmartRobot/Aussie Investa Performance Test

The Forex Maestro
TheForexMaestro Reviews
TheForexMaestro Performance Test


Now I need some input from you. Which Expert Advisors would you most like to see tested? I need some help selecting the next 5 or 10 EAs.

This is a great service. Plesae test Bogie Enterprises • International Foreign Currencies with Automated Trading Systems They took second place in the 2007 Automated Trading Championships and could be a good EA. Thanks.

 

[Comertose]

Which Expert Advisors would you most like to see tested? I need some help selecting the next 5 or 10 EAs.

I have tried a few EAs over the past few months including two in current review (FAP Turbo and Steinitz) with very mixed results demo and live. Major concerns are that ther are great differences from makers claimed results due I think to pip spreads of the broker I use, little or no money management and the internal stop losses used to make a little gain (ie stop set some 50 - 100 pips aways to make a 6 pip gain).
Anyway you may want to try these and see what you can make of them:
Roboteer; Forex Boomerang; Forex Range Trader; Pips Leader. Cheers Comertose

 

[juan carlos]

testing ea

can tester this ea, forex robot miner
thanks

 

[Cornerstone-43]

I am new to forex, but I have traded options on equities for some time; I decided to diversify. Price action and technical analysis will always rule, but there has to be something good that can come from having an EA trade while you sleep-if you have a good one or two.
I have FAPTurbo and Forex Auto Scalper on a $3000.00 demo since the 1st of Feb. I am just over $4100.00 now.
I am interested in the following EA's:
Chameleon 2008
Forexeasystems: EA Shark
GetToBeRichNow: Forex Hitter
FAPS: Forex Auto Pilot

Thanks for the unbiased help you provide on this forum so that we all can make informed decisions.

Cornerstone-43

 

[jriechers]

Ive been using FapTurbo for 4 months now. Unfortunately i like to tweek things to much and thats cost me a penny or two. However, my recent studies, based on the last 3 months of data, have been able to turn 5000 into over 80000 in about 1.5 months (part of the time was deemed by the EA as to risky to trade).

Ive been receiving alot of emails lately about Forex Ambush and would like to see that reviewed also. They have a monthly subscription to it so I assume to maintain subscribers it has to be a decent EA.

 

[Ross Cooley]

robot testing

I would like to see tested the COMMANDTRADEFX by The Wizetrade Group. Ross Cooley

 

[SAMMYFX]

Great Service.

It's unimaginable the kind of concern you people have for your soldiers. I'm more than impressed. A thousand stars for you!

 

[Reinhold]

EA Reviews

Hi, do not loose your time in testing Piptronic. Support inexistent and EA’s are completely trash. Also I red before something about Forex Rising. As I ask my refunds for Piptronic it appeared the homepage of Forex Rising. So I do believe that this may be the same EA under another name.

What could be very interesting to know is a testing of the following EA’s:

- Artemis EURUSD
- Wizard GBPUSD
- Xtreme EURGBP

All of them are from the same company called “Forex Global Trading Company” or “FXGTC”.

I do not have any experience with them and there are good but also some bad comments about them.

Thanks

 

[Mike Lad]

Thanks for the effort. I would like these EAs to be tested - SUPERSCALPER and PROFITABLE.

The link is Expert Advisors for MetaTrader4

Thanks.

 

[Thundance]

Suggestion: EA for testing. Forex Funnel and/or forex Boomerang

I'd like to see the forex funnel and/or forex Boomerang.

Thanks
Heinz

If you've even thought about trading forex, you've probably seen at least some of the ads for Expert Advisors. Buy an automated forex robot and spend the rest of your life relaxing while the trade bot makes trillions of dollars for you once you get it running on your broker's MetaTrader 4 platform. Maybe you even bought one to try. If your EA already made the first million for you, you probably won't be reading this.

The reality is that an EA follows a set of rules. Unlike a human, it doesn't get distracted and miss a trade. It doesn't change the position size based on how lucky it feels today. The problem is that it also keeps trading even if some huge and unexpected financial news comes out. It keeps using the same logic it was programmed with even if the market starts to react in new ways.

Since I'm in charge of the Review Moderation Team, I've seen a lot of reviews for some terrible EAs. I've also been very curious about some EAs that get mixed or even positive reviews. After long discussions with the Administrator and the programmers, it was decided that the FPA will now start a beta test of a new performance testing program for a few EAs.

How this works...

1. All EAs will only use default settings at this time. Many EAs allow users to adjust their settings. Later on there will be some comparison tests, but for now it will be default settings only.

2. At this time, all EAs will only be tested on demo accounts. True performance can only be judged by live testing, but no one should ever risk real money on an EA without giving it a demo test first. Later, any of the expert advisors that show significant profit potential will be tested on small live accounts. This will allow comparisons of live test results vs. demo test results.

3. Currently, all demo tests are using Aplari (US) as the MT4 broker. Once the programmers finish debugging things a little more, there will also be some inter-broker performance comparisons.

4. Only 5 EAs are currently being tested. I hope to see this expanded to many more in the near future.

5. EAs that are tested are now marked with a “Performance Tested” label in the FPA's reviews. For products with performance tests, there is a link to the tests in the upper-right corner of that product's review page.

6. The Performance Test pages update automatically every 15 minutes, so you can follow each EA's progress closely if you want to.


The current tests have only been going on for 1 or 2 weeks, so don't make any decisions to buy or not buy yet. Each test page has comments by our resident bot wrangler about ease of setup and any other issues.

And the EAs being currently being tested are (in alphabetical order)...

FAP Turbo
FAPTurbo Reviews
FAPTurbo Performance Test

Forex Auto Scalper
Forex-Auto-Scalper Reviews
Forex-Auto-Scalper Performance Test

Forex Robot Trader/Steinitz HAS MTF
ForexRobotTrader/Steinitz HAS MTF Reviews
ForexRobotTrader/Steinitz HAS MTF Performance Test

Forex Smart Robot/Aussie Investa
ForexSmartRobot/Aussie Investa Reviews
ForexSmartRobot/Aussie Investa Performance Test

The Forex Maestro
TheForexMaestro Reviews
TheForexMaestro Performance Test


Now I need some input from you. Which Expert Advisors would you most like to see tested? I need some help selecting the next 5 or 10 EAs.