Meta1
As TCO points out, unless you are ready to throw money to the wind, backtests and forward tests on Demo accounts is all we have. One thing I have found is that if an EA doesn't do well in backtesting and forward testing, it will get destroyed on a live account. An EA that does well in back testing and forward demo testing stands a reasonable chance at that point to peform positively on a live account.
I have a small penny account that I test EAs on that perform well on backtests and demos just to make sure it will work in a live trading environment. I have seen some good EAs get totally banned from the trading desk for a multitude of reasons. That is why I like to get them on this penny account once I feel comfortable with them just to make sure they will really be useable. This EA will be on my penny account next week.
I too suffered my first losses with the EA this week on the CAD/JPY. I use Alpari just for comparison. Big spike up against my multiple positions. EA still very positive regardless of this blip.
As TCO points out, unless you are ready to throw money to the wind, backtests and forward tests on Demo accounts is all we have. One thing I have found is that if an EA doesn't do well in backtesting and forward testing, it will get destroyed on a live account. An EA that does well in back testing and forward demo testing stands a reasonable chance at that point to peform positively on a live account.
I have a small penny account that I test EAs on that perform well on backtests and demos just to make sure it will work in a live trading environment. I have seen some good EAs get totally banned from the trading desk for a multitude of reasons. That is why I like to get them on this penny account once I feel comfortable with them just to make sure they will really be useable. This EA will be on my penny account next week.
I too suffered my first losses with the EA this week on the CAD/JPY. I use Alpari just for comparison. Big spike up against my multiple positions. EA still very positive regardless of this blip.