About 5 years ago, the Forex industry got a new trading method minimizing the human trader interaction with the trading platform, although until now it's still limited and not enough alone to process a Forex trading account, but it's valuable for many traders to perform their work or part of it.
Since the launch of Expert Advisors capability on MT4 platforms, many developers and Forex expert traders have rushed to create their own expert advisors gathering their own trading experiences into their creations, some gave their expert advisors away for other traders for free, and most of them decided to sell them at a nominal price, although that nominal price is high for some newbies but the original and well preset expert advisors can easily compensate for it in a short period of time.
Now, a huge number of expert advisors and Forex systems are available on the web, but which one could I use if I needed to?! Do I need to test every expert advisor on the web to choose among them?!
Simply, although self testing is the most reliable method to verify an expert advisor, but it may be complicated and taking too much time to fully ensure the validity of an expert advisor, now there are alternative methods to do so, we are speaking now about live performance which is the best method to validate an expert advisor and bypasses the backtesting faults and missleading results.
Here are the methods I have found they might be valuable to verify a live performance of an expert advisor:
1 - The next to self testing an expert advisor for verification, having an access to an investor account on MT4 for an old account using the expert advisor for a previous period of time is a great method to verify its live performance, some developers provide this option to the public for testing their ea before using it, like Forex Striker for example.
2 - Comes next, the Forex systems analysis websites, these provide free Forex systems live performance analysis services on which most Forex system developers depend to prove the validity and profitability of there inventions, like:
Forex robots live performance and best settings with live statements, these are not common and few of them are available like EA Lab which is now strongly emerging as a dependable validation method for many new and old experienced Forex system developers like GPS Forex Robot and Fapturbo 2.0.
Finally I ensure that unless you can't verify an expert advisor performance and determine its best settings by yourself, only one alternative method for verification is not enough to ensure its profitability, while combining live performance verification, backtesting and previous user reviews is the most reliable road-map to find out your target Expert Advisor.
Best Profitable Wishes