This review thread is about the EA X Trader. This is a free EA. I obtained this EA from the MQL4 Code Base
. I have no affiliation with anyone in conjunction with this review.
This EA is a generic twin moving average cross trend trader. That is, it opens trades on the cross of two moving averages. The important thing with this EA is finding:
1. a good currency pair
2. a good time frame
3. good settings
Every aspect of the two MA's used in this EA can be configured. In this thread, I focus on SMA's (simple moving averages), with no shift and price applied on bar close only.
This EA uses a fixed stoploss (SL) and take profit (TP) and has no money management (MM) so all lot sizes are fixed.
I set up my tick data (I have talked about that in detail
) using the EURUSD pair and decided to find the optimal settings for the H1, M5 and D1 time frames.
Here is an index to the individual X Trader trading systems:
1. EURUSD H1
2. EURUSD H1 variation #2
3. EURUSD M5
(reverse system, dropped)
4. EURUSD D1
(reverse system, dropped)
5. EURUSD D1 variation #2
6. GBPUSD H1
7. GBPUSD H1 variation #2
7. GBPUSD M5
8. GBPUSD D1
9. EURNZD M5
(courtesy of merrygoround,
reverse system, dropped)
10 EURJPY M5
(pass #2657, courtesy of merrygoround
11 EURJPY M5 variation #2
(pass #4002, courtesy of merrygoround
12 EURGBP M5
(pass #3120, courtesy of merrygoround
13 USDJPY M5
Once the optimization is completed on a currency pair (CP)/time frame combination, a trading system is chosen from the thousands available. The way I choose a good trading system is described in detail
Here is a sorted list of all the X Trader current trading systems in descending order by average profit per month:
1. EURJPY M5 $17443.91, 68m, $256.53/m, 17.66%dd, 37.34%wr
2. EURJPY M5-2 $14836.13, $218.18/m, 10.67%dd, 35.57%wr
3. GBPUSD M5 $15334.43, 78m, $204.71/m, 12.73%dd, 49.51%wr
4. GBPUSD H1-2 $14058.87, 78m, 180.24/m, 12.09%dd, 75%wr
5. USDJPY M5 $13096.83, 80m, 163.71/m, 5.71%dd, 26.02%wr
6. GBPUSD H1 $12484.95, 78m, $160.06/m, 9.04%dd, 71.15%wr
7. EURGBP M5 $8912.31, 69m, $129.16/m, 12.74%dd, 35.06%wr
8. EURUSD H1 $5275.13, 77m, $68.51/m, 25.48%dd, 32.86%wr
Where 'm' is month, 'dd' is closed trade draw down and 'wr' is win rate. All backtests are done at 0.10 (one mini) fixed lot with 10K starting capital.
Right now, the M5 trading systems are doing the best.
The above table will be updated when I post a trading system update.
Since I started using X Trader V1 in late 2012, V2 and V3 have appeared. In all of my tests so far, V1 still performs the best (IMHO) although I have yet to fully optimize V2 and V3. The optimization speed of V3, in particular, is about three to four times as slow.
I am currently running a USDJPY H1 optimization.