How to evaluate the quality of an expert advisor?
There are so many expert advisors out that that auto-trades the forex market…most claiming that they can generate amazing returns.
The problem I’ve observed is that many of those ’sellers’ don’t provide good quality forward-testing or live-trading account statements to back up their claims. How then can one determine if the expert advisor is any good?
sorry for not being specific. i am refering to "expert advisors" that auto-trades the forex market. it’s an automatic trading system. tks.
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You bring up a good point. I have been enticed to try a few EAs that proved to be a waste of money.
I think that one of the things that happens is the the market is in a constant state of flux and something that worked well for the past year might not necessarily work well for the next year.
I guess the best one can hope for is some form of a money back guarantee that if a client did not find the EA performing as claimed over a reasonable period of time then you could get your money back and the EA can be deactivated. (If the seller is still around).
This is a tough one.
Paul
and since the dollar has done nothing but go down how much can you credit them vs the market… is there a way to determine if they outperformed?
I’d stick to someone with an extensive history that profited when the dollar rose in value…
find someone that will disclose and quantify provide evidence of prior performance in different types of currency markets… because it looks like we are in for some turbulant times.
take no one’s word for anything when it comes to that… throw out all un-proven claims.
and if this means you can’t find one then so be it…. sometimes no decision is the right one.
If they have an Aston Martin then they are good.
I am a Portfolio Manager with over a decade of experience in the Stock Markets and I can send you evidence of my claims.