What are some of the best EAs out there? - page 2
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KenL
> http://www.forex-robots.com
Good spot - thanks :)
Also see http://www.pipcop.com
-BB-
c0d3
> Can you please expand on this, the details of why there is a difference between demo server and real server.
> What exactly do you mean when you say that the real market feeds are lot more ragged than any demo server.
Simply hitch up an EA on a live account and the same EA on a demo account of that broker.
The EAs will have different numbers of trades and different success ratios.
EA's that enter mid-bar will show very significant differences, but even those that trade on 'last closed bar' will show variance
The main differences are that:-
- Response times vary more on a live server due to varying load
- Spread doesnt vary on a demo server
- The feed to the demo servers comes off the live servers not off the banking system itself - so is 'smoothed' a bit
..
You can argue the contributing factors but the fact is that they are significantly different.
An EA can succeed on a demo account yet fail on a live one :(
Just look at an M1 chart on a live account and compare alongside the demo chart for OHLC differnces, gaps & general... spikiness :eek:
-BB-
So this basically means, that the backtesting/forward testing on a demo is garbage data? I know that backtesting is gargabe, but forward testing, i dont know if i should Laugh out Loud, or cry as i scratch my head.
c0d3
> Can you please expand on this, the details of why there is a difference between demo server and real server.
> What exactly do you mean when you say that the real market feeds are lot more ragged than any demo server.
Simply hitch up an EA on a live account and the same EA on a demo account of that broker.
The EAs will have different numbers of trades and different success ratios.
EA's that enter mid-bar will show very significant differences, but even those that trade on 'last closed bar' will show variance
The main differences are that:-
- Response times vary more on a live server due to varying load
- Spread doesnt vary on a demo server
- The feed to the demo servers comes off the live servers not off the banking system itself - so is 'smoothed' a bit
..
You can argue the contributing factors but the fact is that they are significantly different.
An EA can succeed on a demo account yet fail on a live one :(
Just look at an M1 chart on a live account and compare alongside the demo chart for OHLC differnces, gaps & general... spikiness :eek:
-BB-
Basically you can use backtesting/forward-testing on a demo-account to make sure that your complete mechanical trading system is properly executed, and just not monitor profit/loss as this data is useless. Also, if i'm going to go live, I should pick a broker that supports microlots, and test the EA with a mini account on microlots.
c0d3
I'm not saying forward testing on demo accounts is useless, far from it - but everyone should realise that it is not 100%, particularly on EA's that open mid-bar.
This is not nuclear physics, so not so many absolutes - which it sounds like you are after :)
Let us be aware of a certain lack of... consistency but not to be beaten down by it!
Never forget we should have a traders head on for planning the strategy, and put our coding (scientific) chip back in for writing the EA.
Many outstanding coders dont trade so well, and all traders I've had contact with are hopeless at defining the scope or spec for an EA...
Ha - got a bit OT :)
Back on message - if you are picking a broker for your first live EA, certainly go for the smallest lotsize available.
Make sure they support MT, and have the account enabled for EA's (most are EA-disabled by default)
Be aware of the brokers policy on spreads, commissions, rollover (aka swap) policy, etc
And good luck
-BB-
BarrowBoy,
I registered on PipCop and noticed you were online last night. Its a great site and I'm very interested in their testing. Have any robots survived their testing yet? All I could find were the current tests and the failures.
c0d3
I'm not saying forward testing on demo accounts is useless, far from it - but everyone should realise that it is not 100%, particularly on EA's that open mid-bar.
This is not nuclear physics, so not so many absolutes - which it sounds like you are after :)
Let us be aware of a certain lack of... consistency but not to be beaten down by it!
Never forget we should have a traders head on for planning the strategy, and put our coding (scientific) chip back in for writing the EA.
Many outstanding coders dont trade so well, and all traders I've had contact with are hopeless at defining the scope or spec for an EA...
Ha - got a bit OT :)
Back on message - if you are picking a broker for your first live EA, certainly go for the smallest lotsize available.
Make sure they support MT, and have the account enabled for EA's (most are EA-disabled by default)
Be aware of the brokers policy on spreads, commissions, rollover (aka swap) policy, etc
And good luck
-BB-
For this very reason I do not trade 1mn charts or mid-bar strategies. I agree with you. Live servers are slow during news, spreads can widen during news+weekends. System outages can make you miss your ideal exit. All these need to be taken into account. but one must not forget that your live results may be better than demo as well.
A conservative approach and testing phases are my plan. Although I move a little quicker than I should, Here's how I am doing it:
1. Strategy tester
2. Demo acct - 2wks or so
3. Live - micro lots - 1 month
4. Live - the real lot sizing.
5. Pull profit when intial deposit reached. (I'm not on some huge drawdown system, I just think that's always a good idea on a new system.)
When I first started looking into forex I tried to find the best "set it and forget it" robot. I wound up getting FAPturbo, and after seing it obliterate my demo account from $30,000 to a few pennies, i realized that this was a fool's errand. Think about it. If someone develops some super duper EA that can actually predict the future, why on earth would they sell it instead of getting filthy rich using it with their own money? I have a nagging suspicion that all commercial EAs out there are inherently flawed (in spite of whatever crazy claims the salespeople might make), otherwise they wouldn't be for sale in the first place.
If you really want to make money, you'll have to develop your own EA. If someone actually had a crystal ball, there's no reason for them to let strangers use it. Look around, and try to do something other than whatever the commercial EAs are claiming to do under the hood. If your methodology is completely different from whatever the junk on the shelf is doing, I think you might have a good shot.
Many outstanding coders dont trade so well, and all traders I've had contact with are hopeless at defining the scope or spec for an EA...
-BB-
FWIW based upon my own experience, I would expect only the functional requirements (ie. the trading strategy) from the trader. The programmer should expect to drive the definition of the non-functional requirements and solicit agreement from the trader.
CB
I am using www.driven2success.com/forex.asp they make their money by being an affiliate selling the EA's they test -and find work. They test a lot of EA's and have a league table with trade results a free forum to discuss parameters and experience of EA's. Hope this is not seen as a spam post it is just my genuine experience.