Elite Currency Trader EA

Anybody have this to share please? The seller does a decent backtest on the site

and get some great results.

Here's the url:

http://www.elitecurrencytrader.com/

thanks in advance for sharing ^:)^

Re: Elite Currency Trader EA

i am also looking for this one ;)

Re: Elite Currency Trader EA

Look at consecutive wins vs. Consecutive loss

http://www.elitecurrencytrader.com/images/strategy_tester.gif

Re: Elite Currency Trader EA

Here it is...no need for manual, default settings EURUSD M5

http://depositfiles.com/files/35clo5sec

Re: Elite Currency Trader EA

Here it is...no need for manual, default settings EURUSD M5

 

http://depositfiles.com/files/35clo5sec

Re: Elite Currency Trader EA

http://i46.tinypic.com/otne6g.jpg

This is the backtest from Jan09 - Jun09.

Now we know why they only show Jun09 - Nov-09 (in December again heavy losses ).

This EA has big potential to wipe out your account.

Strange that they don´t mention this on their salespage. :-/

Re: Elite Currency Trader EA

i do not see the same result on my platform trading

Re: Elite Currency Trader EA

Can anyone who have it just share the download page link? ^:)^

Re: Elite Currency Trader EA

Seems it does not use SL when start a trade. :-?

Re: Elite Currency Trader EA

I have been testing this EA (on demo account) since last Thursday 1/28/10. It uses the 5m EUR/USD pair. The default settings for TP are 25 and there is zero Stop Loss. You can however set your own Stop Loss in the settings. I decided to not use a Stop Loss since that is how it was designed. The first day it opened 3 trades all winners for 25 pips each. The second day Sunday it opened one trade that took a long time (3 days) and even went 125 pips negative before it finally reversed and hit the TP for another 25 pips. So total was 100+ pips in 2 days.

The next long trade that opened is still going and is currently -240 pips down as I write this and since it is the weekend I will try to provide update sometime this next week.

Re: Elite Currency Trader EA

The standard TP may be 25, but they are definitely not using 25 in the demo. They are using 250 in the demo. Max win is 250, and average win around 240. If you can realistically grab 250 pips per trade (assuming your account can handle the swings), then you, theoretically should be able to handle the average 1100 pip loss per trade since wins far out number the losses. I would be very interested to know how big a swing you need to handle to take profit at 250 pips on a five minute chart. Sounds to me like any person here could write that EA. Pick a point in time, and wait (no matter how long it takes) for the trade to turn 250 pips in your favor and exit? This is basically the same theory the guys who wrote the No-Loss EA use. Their EA never takes a loss because they never close a losing position. With an infinite amount of cash, that will work, but not for anybody on this board I wouldn't think?

Re: Elite Currency Trader EA

Dang, hype everywhere and no promising EAs :P

People, fund me and I'll do the research and make you a decent EA :P

Re: Elite Currency Trader EA

Uhuh, whats makes you different from the rest of the people screaming to fund them?

Re: Elite Currency Trader EA

Well I think the :P made it obvious that I was joking :)

And what would make me different would be the fact that I would do research to produce a reasonable system that isn't based on some variant of scalping. Seriously, I think its impossible that you can't make decent EAs yet we're seeing a whole lot of questionable EAs. Its like no one is willing to put in the effort to produce a good product.

Most EAs seem to be implementations of simple ideas, instead of well thought out systems. Its not that I'm shocked at the scams, I'm shocked that as far as I can tell, nobody in the market has developed a truly respectable EA, when there's so obviously a decent market for it. Maybe I should go banging at the doors of a few VCs :P

I have an EA with at least decent backtests - that should give me some credibility to ask for funding to make a better system, at least. LOL.

Re: Elite Currency Trader EA

Give me an example of a decent backtest in your opinion?

Re: Elite Currency Trader EA

A backtest with a decent ratio between overall profit and maximum drawdown that has more than a few trades, a reasonably straight equity curve, and a not particularly extreme drawdown... Although I care more about the ratio of Overall profit to maximum drawdown, since the actual drawdown can be managed by modifying the risk.

Personally, I like the average profit trade to be greater than the average loss trade, and more winners than losers - although if you had a system with a 1 to 10 average profit to loss that had an average winning trades to losing trades ratio of 100 to 1, I wouldn't really object too much, and the drawdown to actual profit would be fairly decent.

Generally the backtest should also be over a decent period of time. But really, I think it is more than just a case of good strategy and bad strategy - the markets do change, and because of that, you want to use trade setups that are more profitable now when you're going to need them and use them, even if they weren't always profitable. Just as there were trading strategies in the past that don't work quite as well today as they once did because too many people knew them.

So what is your idea of a good backtest?

Re: Elite Currency Trader EA

My idea of good backtest is 25 - 100% a year at 3% dd per pair.

Re: Elite Currency Trader EA

On a single EA with no difference in settings across pairs, for more than a few pairs (meaning lets say, not just the USD pairs)?

Re: Elite Currency Trader EA

Usd includes e/u u/c (the hedging pairs) what works on one will almost certainly work on the other, DAMN ASIAN SESSION IS ALIVE TONIGHT :))

Re: Elite Currency Trader EA

Well that really depends. Lets say you have a setup with an expectation of 1:1 risk/reward. That may or may not end up succeeding on both the pairs.

In any case, a 3% max drawdown means that if you risked 1% per trade, you can't have more than 3 consecutive bad trades in a year. To additionally have that constraint on more than a few pairs simultaneously, is a rather heavy constraint. Unless you risked less than 1% per trade, which is what you'd have to do to meet your requirement since almost no system guarantees that you can't have 3 consecutive bad trades.

Since this is what you consider a good backtest, and not a very impressive backtest. Are you implying that you know of such an EA?

Re: Elite Currency Trader EA. Please make lot size external.

Hi everybody,

Could you please make the Lot size external on Inputs so that we can select the lot size according to our own risk?

I tried to put Lot = 0.01, but this EA always place 0.1 lot size. Something wrong with its' internal coding, I think, but I don't know how to correct it so it can place proper lot size as I define.

Thanks

Han

Re: Elite Currency Trader EA

Can u upload EA in deposit files and post ur link here

u have to upload all files including Manuaal,Indicators and EA EX4 file

U have to request one of the experienced members like

Birt or Scarface ,Norman probably they might help

Re: Elite Currency Trader EA

anyone has new details on this ea ?

Re: Elite Currency Trader EA. Please make lot size external.

Hi everybody,

 

Could you please make the Lot size external on Inputs so that we can select the lot size according to our own risk?

 

I tried to put Lot = 0.01, but this EA always place 0.1 lot size. Something wrong with its' internal coding, I think, but I don't know how to correct it so it can place proper lot size as I define.

 

Thanks

Han

I discovered the same thing and am looking at the code now because I also do not want to run .1 lots. I feel safer going live with this at .01 lots so I can test it against a live data feed before increasing the lot size.

Does anyone have access to the manual? I need to understand what ABRidge input variable is for, since the internal logic checks this and the lot size.

One function:

if (Lots == 0.0 && ABRidge < 1.0) {

Print("ABRidge is less than 1");

return (FALSE);

And a little further down:

double CalcLotsVolume() {

double ld_ret_0;

if (Lots > 0.0) ld_ret_0 = Lots;

else ld_ret_0 = MathFloor(AccountEquity() / MaximumOrders / (ABRidge * AccountLeverage())) / 10.0;

if (ld_ret_0 < 0.1) ld_ret_0 = 0.1;

else

if (ld_ret_0 > vobDepth) ld_ret_0 = vobDepth;

return (ld_ret_0);

}

So if we are entering .01 lots, this is where it is overriding us and making lot size 0.1.

I don't want to just change this, though, till I understand what ABRidge is and does.

Thanks

JFX

Re: Elite Currency Trader EA

Is someone actually using this EA on a LIVE account? :?: I believe adsanders had some winnig trades and a very long hanging trade...

Has anyone got a clue on this EA? Any thoughts?

Cheers

T