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Re: Elite Currency Trader EA

Do some backtesting. Everything looks good for a few months - then you get some massive drawdowns from hanging trades that go bad (those lovely trades with no SL's!).

HiRider is suffering similar probelms now. The backtests showed 2-3 massive drawdowns over the last 6 months but the accumulated profits made it sustainable (and still profitable). However, in the few weeks since it's gone live those bad-trade situations have already occurred a couple of times. It may just be current market conditions but a few people have been hurt badly by it.

Incidentally it's interesting to note that the FRWC's live statements show these bad trades as being 'cancelled', or missing altogether, - how convenient :)

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

I had a quick look at the code - those hanging trades will kill you (just like the FRWC HiRider).

There's an error in the code which means that specified SL's will not always be applied. I corrected the code so they are applied correctly and then ran some backtests - it's not pretty!

I suggest you give this one a miss.