After reviewing their winalot expert advisor a few days ago, I though it would be worthwhile to review the EAzeGor EA made by the Easy-EA company. I have to say that the fact that their winalot expert advisor is in good standing was with no doubt a very good reason to continue reviewing their expert advisors. Today's post will be dedicated to the unbiased review of their EAzeGor expert advisor system which is elegitely based on the results of an EA championship contestant.
On their web page, the authors talk a little bit about the EAzeGor expert advisor and the fact that it only wins 40% of it's trades. I have to say that I am pleasently surprised by both the way in which this expert is tested and the evidence that is given to support the experts trading. The EAzeGor expert advisor has backtesting results which match live testing statements to a good extent although I would still need backtesting from 1999 to confirm that the expert advisor is in fact long term profitable. Backtesting also exagerates profit potential, which seems to be a general problem with certain types of expert advisors (depends on how the choose to open and close positions) even if one minute interpolation errors are absent.
The live tests show us that the system delivers quiet as expected with the average loss being several times less than the average win. The system has therefore an excellent risk to reward ratio which is a characteristic of realiable trend following systems. I have to say, I rarely find trading systems that match what I would expect for a long term profitable trading system. Specially the fact that we have almost year long live testing and backtesting that is consistent (to some extent that is) proves that the expert, at least was profitable in 2008-2009. However, I have to stress that I would still need backtesting from 1999 to show that the expert was actually able to make money consistently under several market conditions because there is still the risk that the expert is only able to profit under 2007-2009 market conditions which are quiet specific. I have requested this backtesting from easy-EA and will update this review if they send it to me.
This EA has realistic yearly profit targets and draw downs (as the live testing indicates) and I would defintely consider it long term profitable if It shows profit it backtesting for the past 10 years. Well, I hope we can continue to look at the development of this expert's testing for the next few years. As far as my opinion about this EA goes I would consider it worth testing, if backtesting from 1999 would prove the system to be independent from changing market conditions. If they lack this, then the system could start to fail dramatically once market conditions start to change more (at least with the 10 year long backtesting we know it can at least endure a bigger set of conditions). This system will definitely be tested in my weekly newsletter if such conditions are fulfilled.
Again, I applaud this company's lack of hype and their commitment to providing long live testing and backtesting data. I would also ask the website creator's to add investor access passwords to the live account so that we can ensure the live testing results are in fact authentic.
If you would like to learn how you can evluate expert advisors, top wasting money and start actually making realistic profit targets in the forex market please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed this article !
On their web page, the authors talk a little bit about the EAzeGor expert advisor and the fact that it only wins 40% of it's trades. I have to say that I am pleasently surprised by both the way in which this expert is tested and the evidence that is given to support the experts trading. The EAzeGor expert advisor has backtesting results which match live testing statements to a good extent although I would still need backtesting from 1999 to confirm that the expert advisor is in fact long term profitable. Backtesting also exagerates profit potential, which seems to be a general problem with certain types of expert advisors (depends on how the choose to open and close positions) even if one minute interpolation errors are absent.
The live tests show us that the system delivers quiet as expected with the average loss being several times less than the average win. The system has therefore an excellent risk to reward ratio which is a characteristic of realiable trend following systems. I have to say, I rarely find trading systems that match what I would expect for a long term profitable trading system. Specially the fact that we have almost year long live testing and backtesting that is consistent (to some extent that is) proves that the expert, at least was profitable in 2008-2009. However, I have to stress that I would still need backtesting from 1999 to show that the expert was actually able to make money consistently under several market conditions because there is still the risk that the expert is only able to profit under 2007-2009 market conditions which are quiet specific. I have requested this backtesting from easy-EA and will update this review if they send it to me.
This EA has realistic yearly profit targets and draw downs (as the live testing indicates) and I would defintely consider it long term profitable if It shows profit it backtesting for the past 10 years. Well, I hope we can continue to look at the development of this expert's testing for the next few years. As far as my opinion about this EA goes I would consider it worth testing, if backtesting from 1999 would prove the system to be independent from changing market conditions. If they lack this, then the system could start to fail dramatically once market conditions start to change more (at least with the 10 year long backtesting we know it can at least endure a bigger set of conditions). This system will definitely be tested in my weekly newsletter if such conditions are fulfilled.
Again, I applaud this company's lack of hype and their commitment to providing long live testing and backtesting data. I would also ask the website creator's to add investor access passwords to the live account so that we can ensure the live testing results are in fact authentic.
If you would like to learn how you can evluate expert advisors, top wasting money and start actually making realistic profit targets in the forex market please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed this article !
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