Partner Center Find a Broker

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*