My back tests include all events, until live trading match to back test I don’t touch anything. If your friend pause trading during events, it is his decision.
If you trust your mentor, that that absolutely make sense. A lot of people even leave their entire account to another trader and they don’t even check that, there are also institutions that hire traders and fund them to trade for them, when that is happening and when that can be profitable, using a suggested EA does make total sense.
Would you please elaborate? how do you conclude if it does match the back test or not?!
Everyone have a choice to follow someone blindly or not, we are adult and fully responsible for mistakes, your and your funds manager.
My suggestion for you is to check the meaning of “mentor” in a dictionary.
Thank you, a master, tell me, which dictionary year should I use? I am asking because I saw many “mentors” on the internet, which “mentoring” their blindly follower students until don’t have cash to subscribe. Meaning of “mentor” changing like everything, I suggest stopping continue this topic, we don’t talk about back testing software right now.
Exactly, like the meaning of water, water used to be solid before wasnt it? BTW, based on Cambridge Mentor is:" a person with experience in a job who supports and advises someone with less experience to help them develop in their work*"
Thinking again, I agree on this part, the word “Professor” has defiantly gone through major changes.
in that case, i’m going to recommend Forex Tester 5 …
… even though i’ve never used it! i used to use one of its precursors called Forex Tester 2, a long time ago, and it was brilliant - very useful, very pleasing and very good value - and i’ve heard that the newer version is even better
users like you don’t deserve for any good trading tips.
Just one where backtest results are roughly the same as live results
If you know any that are accurate in that sense it would be good thanks
do you ask about sharing strategies where back test results are roughly the same as live results?
Not sure what you mean by sharing strategies.
But for example I have an EA in a ex4 file, and I have seen strategy tester in mt4 is not the best, what other softwares/websites are there where I can plug in the ex4 file and try different inputs and that will give a backtest result similar to what I’ll get with the live testing.
So say I plug it in and get it’ll do 5% a month, and then it actually does 5% a month ± 1-2% then that’s a good backtest
Just as right now mt4 strategy tester does not match my live results at all
Couple reasons, why EA results from back test didn’t match to live trading:
- poor quality data
- broken code
- manually close transactions
- the strategy is overfitted
ex4 format has been created for developers who want to protect their intellectual property, so if developer allowed you to change inputs it is ok, if no, you will not get access to it because ex4 is encrypted format .
In my opinion, there are 2 things mixed by your friend. On one hand he has EAs and on the other hand he turns them off because of some reasons that happen in the market. But this is how discretionary traders would act.
But EAs have been tested over a long period of time in the best case so you can see how they react in crises! My EAs are tested with Dukascopy data starting in 2003. And since 2003 until now, there have been several crises. If they pass those, then I assume they will pass other crises as well.
With your friend, it looks to me like he needed an excuse for his vacation where he couldn’t supervise the EAs. But if someone has to supervise his EAs, then they are definitely very dangerous EAs that I would keep my hands off of!
As Hal is a millionaire and managing the 18th largest fund at ICMarkets for his clients and hedge funds, and as he has been trading profitable FX majors for decades, his being careful approach to protect his clients is his choice.
The major issue is whether the USD, GBP , EUR, JPY & CAD economies are steadying inflation. IMO, while the Ukraine war lasts, and the major banks are not over-reacting every ten minutes, the FX market will settle down to what was normality before Covid and global warming.
However, us retail traders are not in the fundamental loop that Hal has daily access to. In his opinion, only the big boys know the seriousness of what’s going on and we small frys do not.
Hope that helps.
I cant remember asking you for any! even someday , if I want to ask someone, that person could be anyone, but not you. I can clearly remember that you were celebrating your success because your SL was not triggered yet, and you were still in loss! I do not seek advice from your type of professor
Thank you great behavior, I’ll show you mine too
I have seen your expertise in trading, that has been enough for me. no need to see anything more, and do me a favor, do not reply me, cause im here to learn trading, you cant add a single point to what I already know.
Ouch! Interesting perspective.