What the Numbers in the Expert Testing Report Mean - MQL4 Articles
And: News - Automated Trading Championship 2007
If this is not enough, I recommended try googling.
I guess that I want more information about the Elite Section service, as one would when purchasing anything. I want to know the type of information I would get. I would desire to have standardization of reporting. The link News - Automated Trading Championship 2007 was excellent because it provided criteria of judging behavior important to a user of an EA.
Personally, I would like a comparison of conservative settings and aggressive settings results. Why? Because my goals are not to be instantly rich, but to produce a stable income at reasonable, comfortable risk. In fact, it would be desirable for me to be able to compare all EAs at some similar risk level(s).
It might be nice to set a maximum drawdown level. Yes, I know if a backtest "game" says your max drawdown is 60%, but you made a million, who cares? I might, because I don't like nausea. But, the workaround may be: run 10 EAs starting at low levels and distribute your risk. If so, then this is position sizing approach and should be addressed that way (e.g., allocate less to an account running a higher risk EA). Tharp, in "Safe Strategies for Financial Freedom" discusses some methods of position sizing. It might be nice to do some Expectancy calculations per EA. Also, it might be appropriate to do some Sharpe ratio type of thing where one shows the variability of the combination of EAs over the return in time. I have done some stock investing using different screens that provided a very comfortable "ride".
The Elite Group, to do more than commercial experts, should at the least provide the information almost all of the commercial EA crap does NOT supply. I assume this group does not want $99 dollars to become richer, but to provide a service for subscriber success. That would be refreshing.
On the other hand, as a conservative approach, one could step up risk somewhat like this:
First, with low risk, get return of 85% and deposit into associated storage account. If you lose everything after that, you only have loss 15% of the principle. If you lost everything at low risk, maybe time to try something else.
Second, with medium risk, get return of 35%, and deposit into associated storage account. If you lose everything after that, you have gained 20%.
Third, with high risk, get return of 80% more and deposit into associated storage account. You have doubled money. From then on, keep compounding. Maybe siphon off when a sort of stop loss trigger is hit (say 40% loss from maximum).
Could you tell me if you will be making all your current EAs in your subscription part compatible with MT5 also when it comes out or not
I saw your EA result in myfxbook, How can subscribe to your section, I have account GoMarket ECN Broker, so your EA has doing trade on ECN Broker.
If your EA can doing well, please confirm.
Then I will join your subscribtion based on your conformation.
Please guide, mail me: firstname.lastname@example.org
Hi Guys, I am considering joining the Elite section. I would like to know if the EAs in the Elite section are available with source code(mq4)? The reason being I am a n00b just starting out writing EAs to automate my own trade and hope that the EAs in Elite section has source code to help me gauge and learn.