Top 3 Featured Forex Expert Advisors for January 2014

Happy 2014, earthlings!

I know I’m a bit late for the New Year festivities but I’m back with another set of featured forex expert advisors! These ones have caught my attention, as they posted promising results for the backtesting period I used, which is from January 2013 to January 2014.

Here are the top three systems that have caught my interest this month:

1. Very Blondie System

Don’t tell him I told you, but Big Pippin practically begged me to test this forex system out because the name caught his attention! This expert advisor was developed by author David Alfonsi and is included in the MLQ4 codebase.

According to the description, this system waits for the price to make a strong fluctuation in a specified amount of time then opens a reverse position with a grid of limits. Sound interesting enough? Here are the backtest results using the recommended EUR/USD 1-minute time frame:

Number of trades 5
Profit/Loss in % 1.60%
Win ratio 80.00%
Largest profit 1.27%
Average profit 0.61%
Average loss 0.86%
Maximum drawdown 0.86%

2. Catching Gaps

While scanning the MLQ4 Codebase via the MT4 trading platform, I stumbled upon this mechanical trading system which the author claims to work well on EUR/USD, GBP/USD, USD/CHF, and AUD/NZD with profits and minimal losses. See for yourself with these backtest results:

Number of trades 22
Profit/Loss in % 1.93%
Win ratio 90.91%
Largest profit 0.65%
Average profit 0.13%
Average loss 0.39%
Maximum drawdown 0.78%

3. Double Up with a Twist

Last but not least, here’s a simple system that reminded Pip Diddy of his good ol’ bartender days. According to the author, it’s a tweak of his original Double Down algorithm and works well on the EUR/USD 1-minute time frame. Here are the impressive backtest results:

Number of trades 3
Profit/Loss in % 5.07%
Win ratio 100%
Largest profit 3.87%
Average profit 1.69%
Average loss 0.00%
Maximum drawdown 0.00%

So, what do you think? A quick disclaimer before you start running these EAs on your platforms though… Don’t trust robots right away! Didn’t you watch Transformers?!

Before you trust a robot with your life (or in this case, your hard-earned cash), make sure that it’s a good autobot and not a bad decepticon. In other words, you gotta do your homework and additional research to figure out if the EA is consistently profitable or not.

Aside from that, don’t discard a system immediately if its P/L isn’t very high. Take a look at the rest of its stats, such as the win ratio or average profit, and figure out if you simply need to adjust the risk per trade or stop loss size. Maybe it just needs a few tweaks here and there, so give it a chance by using the optimization tools on MT4. That’s what I plan to do!

Lastly, always remember that past performance is not indicative of future results. The forex market is dynamic in nature, which means that a system that has fared well in a particular type of environment might not be able to churn out the same kind of results in a different one!

That’s all I got for now. If you think you’ve got a forex robot that can do better than the ones I’ve featured, don’t hesitate to holler at me in the EA section of the forums! I’ve posted these three featured systems up there for discussion, which means I’ll be hanging out in that joint more often so that I don’t drift back to outer space again.

*beep beep boop beep*

  • ForExchange

    Hi!

    Thanks for the nice post. I have a couple of questions:

    1. Don’t you think that your sample size is to small to decide if it is a good robot? I mean a sample size of 3 or 5 is not really too much. Anyone can make 3 or 5 good trades in a row or bad trades in a row and it does not necessarily mean the person is good or bad trader.

    2. the following questions are in my mind to decide if I should use robots or not:
    – do you trust robots more than your skills?
    – do they win you a significant amount of money?
    – do you use more robots on the same platform or only one? do you change them sometimes?

    3. The last topic: It is a basic knowledge about how robots work. The fact is I am working on a system that functions very well in forex. I thought I let someone write a software on it. If I make it on pages like Zulutrade or other companys so people could invest their money and follow my trades do they see in what trades are they in or not? This issue is important because if they would see how my robot works they would easily understand my idea and would not pay for the robots anymore. If they do not see my trades, they would only see that money comes to their account.

    I am waiting for your answers and wish you good luck!

    • liftoff

      They would see the trades come in. That is how signal services work. Unless they have a system that datamines your trades, it will be hard to tell which indicator combination you are using to make those trades.

  • Albert

    Thank you for the informative posting!

    After I’ve read your 3 EA’s review, I picked No.3(Double Up with a Twist) and
    downloaded it from mql4.com.

    However, nothing really happened on my MT4 when I moved the Double Up2 indicator from custom indicators onto the 1 Min chart.

    What I did was that I pasted Double Up2.mq4 into ‘experts folder->indicators forlder’ as the way I usually do when I add indicators into MT4.

    This is my very first time tring to install EA on my MT4…..just keep wondering why it’s not working, and what did I do wrong…but no clue..

    Should it a different folder, other than ‘indicators’ folder?

    Please….need help.

    Thank you for your in advance.

    • Carnino

      Albert, EA’s are NOT Indicators. Their files get placed at the root of the “experts” folder, not the “indicators” sub-folder.

      When you open MT4, it will compile them and they will appear in the “Expert Advisors” section of the Navigator.

      If you drag them onto a chart, you will have to verify that the “Expert Advisors” button at the top is Green and not Red, otherwise it will not run.

      However, before running an EA against a chart, you should first back-test it in the Strategy Tester to see how it works and how to set the parameters. Don’t just run it blindly on a live account chart without being aware of the risks involved.

    • Daxter1962

      Possibly because it trades so infrequently. Just 3 trades between January, 2013 and January, 2014.

    • Phil

      Put it in the expert folder.

    • Robopip

      It should be in the experts folder, then click the Expert Advisors button on the toolbar so the EA will run. I agree with Carnino’s comment, try it out on demo or backtest it first before trading the system live. Good luck!

  • http://www.harishbj.blogspot.in HARISH B J

    I AM LOOKING FOR GOOD EA’S PLEASE SUGGEST ME GOOD ONE

    • Robopip

      I think you need to do your own homework and try to backtest the systems yourself too, or maybe develop your own.

  • rahan

    This guy is a Fake. False results.

    Never trust him.

    He is paid by advertisers.

  • http://www.fxopen.com/ Aaron Stollman

    One thing that really amazed me is the drawdown, its 0% or less than 1%, that really great. With such a low drawdown, if an EA generate even 1% yield, that would be enough for me. Thanks for introducing such great EAs.

    • Robopip

      It’s good that you’re also looking at the other results instead of just zoning in on the P/L. Having limits for the drawdown makes sense when picking a system to trade, just remember though that past performance isn’t 100% indicative of future results. Thanks for the kind feedback and for checking out my blog!

  • http://onlineroboticstocktrader.com/ Robotic Trading System

    Strategies are really good and i hope that one who used got huge profit.I liked the way you described that article and many thanks for that :)