Well, very often, usualy for nice looking(?) martingale systems balance curve is appealing, but run on the live account it turn out that most of the time we are one step from disaster.
One of the shortcomings of the mt4 is that we can’t get real equity curve with it.
We thought that it would be nice to see real drawdown anyway. We have an EA which can do exactly that, however it requires some effort. We cannot upload here or paste any links, buy PM us if you are interested.
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First of all it is necessary to run EA which we would like to test as usual and then save the statement.
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Next you copy results to excel (without headings).
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Filter out all order types except: buy, sell, close, close at stop, s/l, t/p.
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Delete first column with trade index and all the columns after the volume column.
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Change all “s/l”, “t/p” to “close”. “close at stop” can be as it is.
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Your file should look like this (I can’t upload csv file as an example…):
2014.01.23 21:00 sell 1 1.00
2014.01.24 12:27 sell 2 2.00
2014.01.28 07:12 close 2 2.00
2014.01.28 07:12 close 1 1.00
- Save this file as csv and move to mt4 > tester > files
- Run our EA, it should should be clear how to setup it (but don’t hestistate to PM us). Of course you should use the same period and symbol as you have used for your real EA.
- In the mt4 > tester > files should appear new csv file which consist of equity and balance data saved with given interval. You can separate colums with excel functions (in data tab).
We tested it on different platforms, but we are not sure if it is roboust enough to work everytime.
If everything is ok, you end up with good data for further analysis!
Below pictures show why it may be important to know equity curve:
