EA Analyzer

[foreigner]

With MT4's limited backtesting insight, this tool could be useful;

http://www.strategyquant.com/eaanalyzer/

 

[TopFroxx]

there's an amazing and lengthy post on BP by clarkfx about backtesting EAs, from getting data to analyze all kind of stuff (also including this ea analyzer). probably not allowed to post the link here, but for those interested it is not that hard to find.

 

[jack]

there's an amazing and lengthy post on BP by clarkfx about backtesting EAs, from getting data to analyze all kind of stuff (also including this ea analyzer). probably not allowed to post the link here, but for those interested it is not that hard to find.

Possibly related?
http://fxgears.com/forum/index.php/topic,172.0.html

 

[TopFroxx]

Possibly related?
http://fxgears.com/forum/index.php/topic,172.0.html

oh, i'm stupid. didnt know that was here already

 

[jack]

oh, i'm stupid. didnt know that was here already

Yeah, I believe Clark gave Tansen permission to cross post it for reference.

(And you're not stupid )

 

[Zack King]

guys sorry to sound a bit stupid here but i am new to the whole idea of using EAs in my trading. never done so before but wanted to know a bit more of an overview on them- how do they work, are they compatible with any mt4 broker ??

 

[jack]

I wouldn't worry about EAs for now. No matter what claims you read online, there are pretty much zero commercial EAs (for sale) that work or are worth it.

If you are a programmer and want to get into writing your own to help you trade, that's another story.

 

[Pentat1936]

is it good for a newbie to start trading with EA's?

 

[jack]

is it good for a newbie to start trading with EA's?

I'd say not really. The issue is you won't have the experience needed to judge if an EA is doing well or not.

A LOT of EAs are heavily marketed as having high win rates or 'safe'... when in fact they are all deferred risk systems (a la martingale or averaging down,) and will realize large losses eventually. New traders aren't able to tell, and get suckered into what they think look like impressive equity curves or performance stats.

After spending time learning the craft, and researching how trading systems fail or common gambling practices in the market, then assessing EAs becomes a lot easier (and you'll find that 99.9% of them are junk.)