Featured Forex Expert Advisors for February 2014

I’m back with another set of featured expert advisors and their backtest results from February 2013 to February 2014. I’ve only got a couple this time, but the numbers seem much better compared to the ones I’ve featured before.

1. Turtle Trader

First up is the Turtle Trader system that I found on the MLQ4 goldmine. It makes use of a couple of custom indicators and the author recommends using it on EUR/USD’s 1-minute time frame. What’s particularly interesting about this one is that it had absolutely no losses for the backtesting period! Here are the results:

Number of trades 3
Profit/Loss in % 5.04%
Win ratio 100.00%
Largest profit 3.84%
Average profit 1.68%
Average loss 0.00%
Maximum drawdown 0.00%

2. Artificial Intelligence (optimized)

If the name of this mechanical system doesn’t scream sci-fi to you, then I don’t know what will. I conducted the backtest using EUR/USD’s 5-minute time frame, as suggested in the example, and got these out-of-this-world figures:

Number of trades 146
Profit/Loss in % 13.83%
Win ratio 33.56%
Largest profit 20.53%
Average profit 6.49%
Average loss 3.14%
Maximum drawdown 25.12%

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*

  • pat montes

    Please test madtrader and milestone next month:)))

    • Robopip

      I’ll keep that in mind and take a look at those systems this March. Thanks for the tip!

  • http://www.engulfingcandle.com Sam

    I don’t really use other people’s EAs but I know that backtesting results can be inaccurate due to a variety of factors. I think it would be very useful for readers if you ran the EA on either a real or demo account for a short while and posted those results. Just a suggestion!

    • Robopip

      Fair point. Just trying to find a really REALLY good set of systems to follow consistently on a demo account so I could post a results. I’ll work this, thanks!

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

    I’d like to share my experience with Turtle EA (beta). I tried it on demo account, its entry and profit taking is very good but it lacks in exiting loss traders. I was a bit surprise to see that the EA was closing profits trades with 3-4 pips profits but loss trades were running even in 40-50 pips loss. May be that was the Beta version, I don’t tried the most recent version of this EA.

    • Robopip

      As one of the readers mentioned above, backtest results do tend to vary a lot from demo trading the EA. Yep I did use one of the revisions of this one.

  • Rich Potter

    These back-testing results make zero sense to me… you back-test an EA for the previous 12 months on the 1 – minute timeframe and get just 3 trades?

    On the next one you state that 12% profit over 12 months with 25% drawdown is “out-of-this-world”?

    Please can you publish more details, such as the settings you use, the amount of risk per trade (assuming you are using money management and not fixed lot-sizes etc) or even better a screenshot of your backtesting results?

    • Robopip

      Ha, I did get surprised as well with the number of trades on the 1-min time frame! Still in the process of checking the trade logs though, trying to see if my system didn’t crash while working on that one. As for the results, I did mention in my disclaimer that profit isn’t everything and that drawdowns should also be considered – which is exactly what you pointed out. This is something newbies should be looking out for as well, so thanks for sharing your opinion! I’ll keep your feedback in mind and work on that in my next entry.

  • Investor

    Are you serious ?

    Do you make STATISTICS with a system thats makes ONLY 3 TRADES ! HAHAHA

    You are incredible man !

  • oloh

    Can you post profit/loss in Pips (instead of percentage) ?

    We don’t know your trading leverage, so PL & SL in % (percent) is no use.

    • Robopip

      Fair point. I was surprised with the results myself but it’s good that readers are able to take this with a grain of salt, as suggested in my disclaimer. P/L isn’t everything!

  • oloh

    Ok, I’ve tested “Turtle TraderV1″.
    The big problem with this EA is the default StopLoss set to 60 (read: 600 pips).

    That’s why you only get 3 trades from February 2013 to February 2014, because the EA will seek for price rebound.

    Despite great result from backtest, soon or later this Turtle Trader EA will blow your whole account (I’m not kidding).

    • Robopip

      Thanks so much for testing this yourself and pointing it out! You’re of big help to our forex community and I do hope you stick around, helping newbies by sharing your thoughts. See ya!

      • oloh

        I’ve written my own profitable EA but still not perfect on sideways/flat market condition.

        The average profit is about about 50-400 pips/month (currently coded with long-only trades).

        So I expect to achive 100-700pips each month with both long & short trades.

  • Johnedoe

    Please…… Why don’t you use a real platform like trade station or ninjatrader or trading blox to do your testing….. everybody knows meta trader is a joke.

    • Robopip

      I’ll look into those, thanks for sharing your thoughts.

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

    Wow win ration 100% and drawdown 0%? is it possible? are these EA backtested?

    • Robopip

      Pretty surprised by these results myself too, but as one reader pointed out there’s a bit of error in the code that needs adjustment.

  • johnedoe

    meta trader , what a friggin JOKE……. But but but it’s a free platform……
    Like they say. You get what you pay for…..LMAO.

  • johnedoe

    Trade Station & Ninja Trader are friggin JOKE.

    • Johnedoe

      Now that is interesting……… since I did not post trade station or ninjatrader being a joke……. whereas mt IS……. I stand behind the statement that you get what you pay for though.

      • Robopip

        Definitely gonna look into tradestation and ninjatrader. I just use MT4 backtest results because they’re easier for newbies to replicate and tweak.

  • http://www.stmfx.com/ar forex

    تحليلات السوق

    التحليل الفني للعملات ليوم 18-03-2014 من StmFx

    اسعار العملات اليورو مقابل الدولار الامريكي ليوم 18-03-2014

    اسعار العملات EUR USD

    ارتفع سعر صرف اليورو مقابل الدولار الامريكي مع بداية تداولات اليوم الثلاثاء بعد أن أغلق تداولاته يوم أمس الأثنين تصاعدا مواصلاً التحرك فى قناة سعرية صاعدةً ، وذلك كما هو موضح بالرسم البيانى أدناه لإطار اربع ساعات.

    ، هذ وتدعم توقعاتنا احتمالات تحرك السعر اليوم فى اتجاه صاعد، هذا ويدعم احتمالات الصعود كلا من مؤشر MACD ومؤشر ADX ومؤشر RSI والتقاطع الإيجابي لمؤشر الاستوكاستيك ،وكذلك التداول الحالى أعلى Moving Average. مع مرحظة ان احتمالات الصعود تظل مرهونه بالبقاء أعلى مستويات 1.3880.

    ، وبناء على توقعاتنا فإن تمكن السعر من كسر المقاومة عند 1.3966 يدعمه للوصول الى مستوى المقاومة التالي عند 1.4034 ومن ثم مستوى 1.4079، في حين كسر السعر لمستوى الدعم عند 1.3914 يهبط به نحو مستوى 1.3883 ومن ثم مستوى 1.3873 وفقا لمستويات فيبوناتشي 61.8 و 50% على التوالي.

  • mihk

    It doesn’t make sense the whole back testing stuff. Every position in the market counts. You add 1 (k) long position and the history would be different. But that’s probably my view only.

    • Robopip

      Well I do agree that backtesting is just one part of the story and isn’t totally indicative of future results. Thanks for sharing your thoughts!