FPA Introduces EA Performance Testing

[lilpipper]

Let's see your trades

Hi,

I've been following the performance of the EA's under test (good initiative, to have an independent source testing the EA's), and what do I see???

Not only the performance is much worse than what is advertised by the sales sites, BUT ALSO THAT I HAVE AN EA THAT HAS A BETTER PERFORMANCE!!

Hell...I should sell it! If these BS marketeers make money with these EA's why shouldn't I??

I developped my EA during 2008 and it did test ok, with positive results. But I set it aside while trying to seek something even better (and thinking my EA's performance was not that good compared to what I saw on the net...). I did not improve so I decided to go back to this EA, and I put it again running...

So...from March 2 to April 30, my EA did more than +35%. This is the same kind of performance it did last year, and that I thought was not that good...

Now I see the testlab page here...and see that my EA must be very good...

HOW CAN I SELL IT?

Hey AsstModerator, do you accept to test EA's that do not have a sales website?

FxM

Hi fxmachina,

Can we see your trades? It's free and anonymous to sign up at MT4 Stats - Share your MetaTrader 4 Stats with the world.
For example: MT4 Stats - Share your MetaTrader 4 Stats with the world

Thanks,
lilpipper

 

[Ken Long]

Hi,

I've been following the performance of the EA's under test (good initiative, to have an independent source testing the EA's), and what do I see???

Not only the performance is much worse than what is advertised by the sales sites, BUT ALSO THAT I HAVE AN EA THAT HAS A BETTER PERFORMANCE!!

Hell...I should sell it! If these BS marketeers make money with these EA's why shouldn't I??

I developped my EA during 2008 and it did test ok, with positive results. But I set it aside while trying to seek something even better (and thinking my EA's performance was not that good compared to what I saw on the net...). I did not improve so I decided to go back to this EA, and I put it again running...

So...from March 2 to April 30, my EA did more than +35%. This is the same kind of performance it did last year, and that I thought was not that good...

Now I see the testlab page here...and see that my EA must be very good...

HOW CAN I SELL IT?

Hey AsstModerator, do you accept to test EA's that do not have a sales website?

FxM

Try PipCop.com. They've tested several of the free EA's, and offmarket EA's offered to them, the only stipulation is that you can provide positive forward testing results, live money is definately prefered.

 

[FXDM]

+100% within 6 weeks

Hi fxmachina,

Can we see your trades? It's free and anonymous to sign up at MT4 Stats - Share your MetaTrader 4 Stats with the world.
For example: MT4 Stats - Share your MetaTrader 4 Stats with the world

Thanks,
lilpipper

Hi all,

My system makes +100% within 6 weeks trading in live account. MT4 Stats - Share your MetaTrader 4 Statements with the world

Happy trading,

FXDM

 

[Fantomas]

Fantomas

Just received an email about a "new EA" to be launched 19 May 12 pm EST.
Its name is "Forex Transformer" and it is claimed to have achieved a profit of $19,000 in "one day" and a $10,000 account deposit increased to $300,000 in 8 months!
NO EXPLANATION if the aforementioned figures were achieved in "backtesting" of "forward demo" or .... live. It is claimed to work in "all market conditions"!
I feel a lot of hype and...unrealistic claims were contained in that email.

I smell rotten fish....AGAIN!

Lets be alert and check those claims and the integrity of the EA, when it is released the week coming.

 

[TheMan]

Avafx Auto Trader

Please review and give feedback on Ava Auto Trader from Avafx.com, since this broker is getting 5 stars from the FPA broker review site.

 

[AsstModerator]

There were 17 bots being tested. There would have been 7 new ones in this announcement. One old bot stopped working. Two of the new ones got pulled from active testing since they seem to be copyright violations. You can read about that here...

https://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/4695-grand-theft-ea.html

Testing was stopped on Automated Forex Grail, since it suddenly stopped making trades and support would not respond to questions. A ClickBank refund was requested and received.


The latest additions (in alphabetical order) are...

Forex EA Systems – Shark Ultimate

EU4X - M5G Cyborg

Forex Conqueror

Poison Robot

Scalp Turbo


Just follow the links to the review page and look in the upper-left for the link labeled EA Test.


You can also check out our Test Lab page, which lists all EAs being tested in one place and allows for sorting by name, average pips per week, or average equity per week.


These join the 16 that are currently undergoing tests...


Autopilot Forex Profit

Enterra Forex Star

FAP Turbo

Forex AI

Forex Auto Scalper

Forex MegaDroid

Forex Boomerang

Forex Goldmine Robominer

Forex Hitter (GetToBeRichNow)

Forex Rising

Forex Robot Trader/Steinitz HAS MTF

Forex Smart Robot/Aussie Investa

Forex Vengeance

The Forex Fantasy

The Forex Maestro

The Forex Supremacy



Keep those votes coming in. There should be some more ready to roll in the next week or two.


Notes: The copy of the Forex Robot Trader/Steinitz HAS MTF got stuck with a couple of trades in large drawdown. I contacted Don Steinitz and got some useful advice...

The only issue that can cause drawdown deep enough to inhibit new trades would be old open trades that have lingered too long. There are several ways to handle open trades.

1. One way is to exit when the daily timeframe changes color indicating a change in trend that occurred after the initial transaction. You can do this automatically with the robot by changing "exit on set change signal" from a 0 to a 1 which turns that function on.

The robot will close the trade on a closed candle as soon as it recognizes a change in direction. The robot will then open a new trade using an opposite set up e.g. set 1 or set 2. This is done automatically by the robot based on the logic that we programmed within the robot.

2. The other way to help with drawdown is to use the function to close the open trade(s) within a certain number of days that you choose. This of course is an arbitrary value. I idea behind this is the longer the trade is open the higher the chance it will stay open longer.

3. The other way to manage DD is to hedge by placing the same robot on the same currency by choosing a unique timeframe which acts like a unique magic number. The idea behind this is to hedge that currency going long and short. Of course NFA disapproves this in the USA but allowed in the UK.

The programmers are look at this and will leave a note on the test page when they decide what method to use.

Forex Vengeance still hasn't opened a trade using the long term strategy. The programmers just increased the risk factor for this bot substantially to try to convince it to trade.

FapTurbo has been updated with new custom settings provided by FapTurbo's support team.

On behalf of the FPA, I'd like to thank the people at from Poison Robot for donating a copy of their EA for testing.

 

[Graeme]

How about the newbie "Forex Transformer"
We are told(smile} it is the best since sliced bread.

 

[spud]

EA Performance Testing

An excellent initiative guys! I would like to suggest the so-called 'adaptive EA's' - that claim to change with the market. Two allegedly successful models are the FOREX TRANSFORMER' and soon-to-be-released 'FOREX ESPIONAGE'. They have hokey names, but big performance claims. I'd like to see them tested please.

Thanks

Spud

 

[Ken Long]

I have a big request. Once you master all of this testing, I would like to see a section to test and rate some of the free EA's. Unfortunately there are too many of these to simply run an open testing and some sort of entrance filter will be needed. I would sugest only testing EA's that are submitted by their developer, which are optimized and ready for use, and come with full back and forward testing results. In all cases these should include the downloadable file, or at least a link to their site for the free download.

This would be a great way for the lesser known developers to draw attention to their work, and show off what they are capable of. And it could become a great competition, hosted by an independant party.

 

[tampajym]

tampajym

Thats good advice for any market. I have a Live EA working as I write this post. Its up 216 pips for today and turns off 11 am est . I did not trust EA's at 1st either. I became unemployed and learned MLQ language and programmed my own EA. I now use this software to trade. It is making money today(may not tommorrow). Yet there still remains something in me that will not fully trust anything made of 0's and 1's. I plan on offering this EA soon as a free DemoOnly version and if users like it-they can buy it(and not for hundreds-more like 10-20 bucks) and I would answer emails(though there would NOT be any refunds-thats what a FREE demo is for)NO TRICKS-NO GIMMICS. Because,in the end, I dont need sales of my EA to support my family.

Hey eight, Let me know when you are going to let this out for some testing. Would love to give it some exposure. Good luck, tampajym