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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*