Hi Guys,
I couldn’t agree more with Petko and the “3 points” he makes regarding results.
As a conclusion to my opening statement in this post, not so much regarding the money value of the results (profit or loss) but about the EA’s and their longevity. I’m running 1386 of the 99 EA’s provided by Petko in the monthly updates continuously. Each of the 99 per month have their own FX Blue account for analysis. I have 14 demo accounts and create a new one each month – are here’s what’s happened.
Not even ONE of the accounts is in profit, but the losses are minimal.
So, as time went on I realized that what Petko teaches is absolutely correct (funny that) The market changes continuously and the 99 EA’s have no chance to keep up. BUT within the 99 each month are hidden gems and we need to only use those ones. So, I ran the results of each demo since the beginning of their life and chose the only the top Net Pips performers. Guess what? kept on losing money, why? because the back testing time was too long, and the market changed. So, I shortened the filter period to the last 7 days. No good, too short. I’ve now filtered the report to show the best Net Pips in the current quarter. Result – magnificent.
Last quarter filter is not too long that the market changes so dramatically and not too short that there’s not enough performance history for the EA. So what I’ve done is drawn a line under any EA that generates 300 pips or more within the last 3 months. Those EA’s then qualify to go into their own demo account for testing. The results are the best I’ve ever had , quite unbelievable and I’ll be loading them into my live account on the 1st June.
I bought an old laptop (refurbished) from eBAy for $80 and only have the demos accounts on it and run it continuously. This is the only way to assess the true profitability of each EA. The EA’s Petko provides us with each month are brilliant. I’ve not been able to beat them with my FSB generated ones as yet.
So, I hope this gives an insight from another traders angle and thank you Petko for the great site, education and most of all the monthly 99 EA’s
I will keep the forum updated with this strategy.
Jie.