The best forex EA s over the last 5 years have all had one thing in common, they have been scalpers. Some have been dangeous employing very risky methods such as grid and martingale strategies. Why are scalping strategies so much more popular than other strategies amongst big hitters? Well the answer is simple. 1. It is more exciting than other forms of trading. 2. It is less risky …. yes I said LESS risky, we will get back to this later. 3. It is more profitable due to high volumes. 4. It is less stressful as a trade never stays in the market for a long time which means virtually zero draw down.
How do you test for the best forex EA ?
You need to test several things when looking at an expert advisor. We will list them below for a better organized description.
- Backtesting – You need to start off by testing the expert advisor against historical data.
- Demo Testing – Once you have passed the backtest you need to run a forward test on a demo account.
- Live Testing – The best forex ea will only truly show itself on a live account, use a small account at first.
- Broker Testing – Test whether the broker has slippage, this can be done with this tool : Click to see.
- Weekly optimization – As the market changes you need to change the settings on your EA. The only way to do this properly is by back testing your strategy with tick data and optimizing it every week. If you do this the market should not “out run”you.
To find the best forex ea you will have to test tens, even hundreds perhaps but the good ones are out there, how do we know this? Just have a look at all the copy trade services. Some of those guys have insane results. They are not manually trading I can promise you that. All the real successful traders nowadays are using expert advisors and the more you test the closer you will get to discovering the best forex ea in the world.