EA with 2500% in 4 Months!! Is it really possible?

[Squire42]

Hi to all out there,

This is my first post on this website so I like to say hello. This site really opened up my eyes about so called "expert" advisors and noticed not many really perform well in the real world.

So my search is on, just like most of us to find that great "one" EA that will save all our problems. Well I found a site and it seems to have a good track record. Could I get a second opinion about the site and get some good input?

It's called BankingFX and can be found at http://www.bankingfx.com.

I'm varly new still to the Forex and the whole EA trading thing but I would really like to find a system knowing my money is making me money. I'm trying to make sure not to get riped off, again. I have bought a bogus EA and was completly useless in the real world.

Well good luck folks with the trades. Work smarker, not harder.

[PipCop]

Since I started this site 3 months ago all but one or two robots have failed to perform. The only ones that I see that are (a) safe (b) consistent and (c) profitable are RoboMiner and Yoww. However, they also have only been running for 1-2 months, so I am of the opinion that a good 6-9 month run is needed before putting any money in them for personal reasons.

RoboMiner has made the 60 day mark and has made 100% profitable trades, which is incredible. Once it makes it to 90 days I will put it on a live account.

If these robots did make money, I'd use that to put all robots on (small) live accounts, but so far the robots that have been on live accounts have wiped out the balances pretty quickly!

[Squire42]

Yea I noticed alot of EA's do that. They got all these amazing back tests and claims but when it comes to the real world appilications, they fail miserably. Can I trust their backtests? Even if the quality is so called "90%" ?

To be honest, I think this site is doing the right thing and just testing them live, and like you said give it a 6-9 months for a real good test. My question still is though, would u try that site's EA I posted earlier? or does it look like its a farse? With 80% profitable trades, could be something valuable. Any suggestions?

[PipCop]

In my opinion, for what it's worth, no backtest is accurate. None. Not one. I've tweaked a few robots of my own, and the backtests are wonderful. Then when I forward test them they are crap. Plain and simple, real data trumps backtest data.

As far as trying that robot you suggested? On a demo account, sure. On a live account ... not a chance. I didn't even look at it, but I'll tell you flat out that nothing can convince me to run live on a robot at this point in my testing. I'm serious about waiting to see 6-9 months of positive cashflow, every month. Otherwise it's just a gamble, and I'm an investor - not a gambler.

[Ken Long]

I second that. There arent any robots that I would trust on a live account of size unsupervised. There are a few that I would consider running on micro lots to see how they perform live, FAP T for one, and there are a few that I like to run and follow manualy, taking some of the trades that look good and trading counter to some that go wrong. But overall EA development has a long way to go before it can be trusted, and its doubtful comercial EA's will ever be truely trustworthy. Like most market techniques, once they become well known they dont work the same anymore.

[Batchboy]

Originally Posted by PipCop

In my opinion, for what it's worth, no backtest is accurate. None. Not one. I've tweaked a few robots of my own, and the backtests are wonderful. Then when I forward test them they are crap. Plain and simple, real data trumps backtest data.

As far as trying that robot you suggested? On a demo account, sure. On a live account ... not a chance. I didn't even look at it, but I'll tell you flat out that nothing can convince me to run live on a robot at this point in my testing. I'm serious about waiting to see 6-9 months of positive cashflow, every month. Otherwise it's just a gamble, and I'm an investor - not a gambler.

my comment :
http://www.PipCop.com/forums/robot-ea-programming/146-general-precision-targetting-actual-viable-long-term-successful-ea-operation.html
jb

[matchett]

So you bought this EA? and this is your backtest result? How did it backtest form like a date of 10-01-2008 through Current?
And with the risk setting at 30.

Curious