Discussion of article "How to choose an Expert Advisor: Twenty strong criteria to reject a trading bot"

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New article How to choose an Expert Advisor: Twenty strong criteria to reject a trading bot has been published:

This article tries to answer the question: how can we choose the right expert advisors? Which are the best for our portfolio, and how can we filter the large trading bots list available on the market? This article will present twenty clear and strong criteria to reject an expert advisor. Each criterion will be presented and well explained to help you make a more sustained decision and build a more profitable expert advisor collection for your profits.

A professional algorithmic trading portfolio includes at least 10 to 20 capital accounts running from 10 to 50 expert advisors on at least 10 to 20 capital markets. This is not a standard, but it is the practice I can see around. This article tries to answer the question: how can we choose the right expert advisors? Which are the best for our portfolio, and how can we filter the large trading bots list available on the market? This article will present twenty clear and strong criteria to reject an expert advisor.

Each criterion will be presented and well explained to help you make a more sustained decision and build a more profitable expert advisor collection for your profits. Some criteria are very simple and can be debated fast; others need strategy test results for a clear conclusion. Anyway, all requirements are universal, do not depend on the used trading platform, and can be applied by anyone with little experience and no programming or advanced coding skills.

I am Cristian Mihail Pauna, engineer, economist, and Ph.D. in economic informatics. I've been producing and testing trading algorithms and automated trading systems made by me and by many others since 1998. Intentionally this article was written in a negative way, considering the rejection criteria instead of acceptance ideas, as most of the trading bots on the market do not qualify for all of these criteria. This article presents my own conclusions about how to reject a trading bot and how it can be considered to be included in an investment portfolio. The criteria list is still open, and anyone can complete it with new ideas in the comments section. Enjoy!

Author: Cristian Mihail Pauna

 

i bet the author is describing 20 things his products don't have . 

  • the most interesting point i found was 11 , clearly , they don't teach risk reward wherever he got his PhD 
  • 3.we can clasify news in two categories , expected , and , unexpected , the author claims filtering for none is better than filtering for the expected at least .
  • 5.If it has array out of range it will not "No, it is still running,"
  • 6.If the broker decides to change their server time you will change the time parameter in the bot
  • 3." These kinds of bots are sensitive to big event news and can generate losses in unprecedented cases" , no , all bots are sensitive to big event news and can generate losses 
  • 4.if the author updates the bot isn't the act of downloading the update " If a trading bot asks for your action from time to time" ? 
  • 10.there are no such bots on this market 
  • 17.It is impossible for all parameters to be profitable (18 same)
 
Lorentzos Roussos #:

i bet the author is describing 20 things his products don't have . 

  • the most interesting point i found was 11 , clearly , they don't teach risk reward wherever he got his PhD 
  • 3.we can clasify news in two categories , expected , and , unexpected , the author claims filtering for none is better than filtering for the expected at least .
  • 5.If it has array out of range it will not "No, it is still running,"
  • 6.If the broker decides to change their server time you will change the time parameter in the bot
  • 3." These kinds of bots are sensitive to big event news and can generate losses in unprecedented cases" , no , all bots are sensitive to big event news and can generate losses 
  • 4.if the author updates the bot isn't the act of downloading the update " If a trading bot asks for your action from time to time" ? 
  • 10.there are no such bots on this market 
  • 17.It is impossible for all parameters to be profitable (18 same)

Lol... Most likely risk reward is if no importance.

Regarding Phd, there was an interesting discussion about it in the Russian section why do locksmiths + plumbers trade more successfully on forex than programmers + higher mathematicians

 
Enrique Dangeroux #:

Lol... Most likely risk reward is if no importance.

Regarding Phd, there was an interesting discussion about it in the Russian section why do locksmiths + plumbers trade more successfully on forex than programmers + higher mathematicians

So a good bot must have at least an 80% win rate before examination of other criteria ?

This fellow coder was paid 200$ to advertise his eas . Change my mind 
 
Lorentzos Roussos #:

So a good bot must have at least an 80% win rate before examination of other criteria ?

This fellow coder was paid 200$ to advertise his eas . Change my mind 

The issue is, It is very personal. You can only answer for yourself. Clearly you value aspects the author does not and perhaps vice versa. 

 
Enrique Dangeroux #:

The issue is, It is very personal. You can only answer for yourself. Clearly you value aspects the author does not and perhaps vice versa. 

Touche . So mq paid 200$ for someone to post his personal opinion .

I'd understand the opposite though if it is the case . If the author paid for the article advertisement to be published then its okay .  😊
 
Lorentzos Roussos #: Touche . So mq paid 200$ for someone to post his personal opinion .I'd understand the opposite though if it is the case . If the author paid for the article advertisement to be published then its okay .  😊

I may be wrong, but I think that the $200 for articles is not guaranteed. It depends on the article content.

 
Lorentzos Roussos #:

Touche . So mq paid 200$ for someone to post his personal opinion .

I'd understand the opposite though if it is the case . If the author paid for the article advertisement to be published then its okay .  😊

I have come across multiple articles containing self promotion. So clearly there is no rule against it. Given MQ's self introduced spam bot i think it is clear MQ does not care about any content as long as it generates traffic.

 
Fernando Carreiro #:

I may be wrong, but I think that the $200 for articles is not guaranteed. It depends on the article content.

This may be true given the size of the article , anyway i'll end my disappointment rant here .

Enrique Dangeroux #:

I have come across multiple articles containing self promotion. So clearly there is no rule against it. Given MQ's self introduced spam bot i think it is clear MQ does not care about any content as long as it generates traffic.

I'm just saying , if they introduced an advertisement system , secretly for comrades only , they would gain more money if they opened it up wide , i'm joking .  🤣

I can see your point though , traffic to opinion -> establishes author as authority figure -> user goes to author's shop -> $ (con artist 101 , joking again)

edit , i've noticed the shareability of articles by a specific person is highly correlated with how much they are advertising the author .  
 

A good expert advisor software should be like the windows calculator. It does not require support from the programmer, its results are the same in Win95, Win98, XP, etc. I agree with the opinion of the author of the article.

Those who criticize the publication I think, I suppose, that they are sellers.

Vendor: I am selling you a Nut. It is the best on the market. But it only works on brass screws. Oh... and for best performance, you should use a pipe wrench of my own making. Sometimes when the weather is humid, the nut rusts, but don't worry, if you contact me, I can advise you to clean it up and make it functional. ATT: Seller001

 
Hely Rojas #:

A good expert advisor software should be like the windows calculator. It does not require support from the programmer, its results are the same in Win95, Win98, XP, etc. I agree with the opinion of the author of the article.

Vendor: I am selling you a Nut. It is the best on the market. But it only works on brass screws. Oh... and for best performance, you should use a pipe wrench of my own making. Sometimes when the weather is humid, the nut rusts, but don't worry, if you contact me, I can advise you to clean it up and make it functional. ATT: Seller001

Yes, indeed! This article was wrote for the software buyers. Thank you for mentioning, this is an important observation!

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