• footon
  • footon
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  • Registered: 2009-08-17
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Topic: 99% quality

I'm sure many who have used MT before are familiar with that elusive 99% test quality statement. What it actually means is anyone's guess.

It got me thinking - if FSB shows zero ambig. bars, this means 100% backtest. If, for instance, there are 10 ambig. bars and the total data length is 20k bars, the efficiency (name it as you wish) is 99.9995%.

I'm not kidding - it is 99.9995%!

The other side of the coin is that those 10 ambig. bars can have a pretty significant impact. Therefore, that missing 1 percent from MT's comical 99% quality can be like a black hole in the grass instead of a snake, if you get my drift.

  • Blaiserboy
  • Blaiserboy
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  • Registered: 2010-09-06
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Re: 99% quality

I am not so sure that 99 per cent in Metatrader means anything of value. Nothing else has any value in MT4.

People seem to be stuck on MT4. they like the visual charts.

One thing that took me a long time to accept is that FSBPro is all about exact math whereas MT4 is about pictures...

That is why I say to people to use FSBPro exclusively, just connect to MT4 for trading. forget the MT4 Strategy Tester and indicators.
However, people want to stay stuck in the rut. no matter what they discover about MT4 being junk.

People can know..... years ago, Popov got so ticked off with MT4 junk that he developed Forex Strategy Builder and gave it away for free so people could build automated trading systems without cost.

And he became so committed that he developed FSBPro.....

Myself, I have learned to follow Popov's thinking, I stick with FSBPro and forget about MT4.

Blaiserboy's Website

  • Popov
  • Popov
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  • From: Bulgaria
  • Registered: 2006-11-30
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Re: 99% quality

Footon, you are completely right!

I have to add a "Test quality" metrics that will be = 100 * (totalBars - firstBar - ambiguousBars) / (totalBars - firstBar)

It will make the program much more precise just what the users want smile . Of course we have to increase the price because of this new feature.

Popov's Website

  • Registered: 2017-03-14
  • Posts: 709

Re: 99% quality

And at the increased price it would still be a bargain (smile)...

Also, I would like to add that I'm learning a ton from the responses from the more experienced users.  I'm new to Forex and the suggestions and insights you provide in your posts saves me sooo much time and aggravation.  It's sort of like when someone suggests that you not touch a hot stove because you will get burned -- some people heed the advice and benefit from the experience of those that have already "been there, done it".

This notion that MT4 is the greatest software on the planet keeps coming up, and it is hard to break away from that belief because it is so predominant and used by every broker.  But you guys are right!  The more I heed the advice to rely more on FSB and less on MT4 then the easier and more fun things become.  Plus, I'm creating great strategies in a fraction of the time I was spending developing my own indicators and EAs.

I don't know if it is appropriate to post something like this here -- I just wanted to make sure y'all know your help and advice are valued and greatly appreciated.

  • Blaiserboy
  • Blaiserboy
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Re: 99% quality

The reason that so many brokers love MT4 is that they have available a tool with which they can make a lot of money.

There are many ways that an MT4 broker can make money, including ways to 'rob' the traders.

New traders are vulnerable to the games played by these scurilous individuals.

FSBPro was created with a view to helping traders develop strategies that could navigate MT4 trading profitable.

Have you ever wondered why MT4 strategy tester is so crappy......?  Such a huge outfit as Metaquotes is using such a crappy tester to fool people about their strategies...... to help people lose money.

What do the metrics in the strategy tester tell you about your strategy...... NOTHING!

I wonder why they have never improved it....... the answer is clear...... they want people to lose!

Have you checked the finances of your broker?  Probably there is no available information about the company, its principals, its finances.. its registration.  The reason they hide that is obvious...... they do not want to be investigated, they do not want responsibility.

The only reason that a person could think well of MT4 and the MT4 brokers is that they have not done any due diligence before opening an account.

Most MT4 brokers are one man deals, set up in a secoind floor one room office, very few are properly registered with any respectable authority.

Why are so many in places like Cyprus and Belize............. because they have no regulation!

Best to look into your broker and his background and the finances....... because when the weather gets rough.. they disappear.

Welcome to the forex MT4 Jungle.

Blaiserboy's Website

  • Registered: 2017-03-14
  • Posts: 709

Re: 99% quality

Interesting -- thanks, Blaiserboy.

I read a lot about Forex and there certainly are a lot of mixed messages -- pro and con.  I guess it's the lure of easy money that keeps traders coming back for more.

Since there is so much money in Forex and since MT4 is so crappy, then why hasn't an alternative evolved?  I mean, I've seen other trading platforms, though not nearly as popular as MT4.  Are they also biased to help the broker?

Since the broker is Metaquotes' customer, then perhaps it's the nature of the beast that Metaquotes' product would always favor them.  Or perhaps part of it is MT4 is simply a tool that can be configured in a variety of ways and many/most brokers choose to configure it in a way that is biased in their favor.  In the Forex jungle is it Metaquotes who is the bad guy or is it the broker, and Metaquotes simply gives brokers what they want?  Is it even possible to create a trading platform that is fair?  In the speculative foreign exchange world, is it even fair to expect an even playing field?  If the only goal is to make money, then everyone is looking for an "edge".

I keep thanking my lucky stars that I stumbled on FSB.  For months I was going down a particular path, and then FSB opened my eyes to a whole different way to approach Forex trading.  For me it is mostly a hobby -- now instead of reading political commentary that makes me feel depressed, I get to spend time generating, analyzing, testing and creating some side income using a great tool that gives me confidence (and hope), and is fun to use.

  • Registered: 2017-05-06
  • Posts: 5

Re: 99% quality

I am sorry but I do not believe in conspiracy theories.

Brokers make money no matter whether you win or lose because there is always spread and/or commission. They may choose to play directly against you (since most traders lose anyways) but this has nothing to do with the tool.

MT4 is simply very old and the code is bad (or so I was told) but users refuse to switch because the EAs aren't compatible and there is such a large community. I bet that brokers request the best tools on the planet because the better and easier a tool is the more people gamble (yes, I use this word deliberately). Just look how many options are offered by the bigger ones.

For me MT is an order execution tool (as thinkorswim was in a previous life) and I am glad that tools like FSB exist where I can do everything UNTIL order execution.

  • Blaiserboy
  • Blaiserboy
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  • Registered: 2010-09-06
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Re: 99% quality

trans4712 wrote:

I am sorry but I do not believe in conspiracy theories.

Brokers make money no matter whether you win or lose because there is always spread and/or commission. They may choose to play directly against you (since most traders lose anyways) but this has nothing to do with the tool.

MT4 is simply very old and the code is bad (or so I was told) but users refuse to switch because the EAs aren't compatible and there is such a large community. I bet that brokers request the best tools on the planet because the better and easier a tool is the more people gamble (yes, I use this word deliberately). Just look how many options are offered by the bigger ones.

For me MT is an order execution tool (as thinkorswim was in a previous life) and I am glad that tools like FSB exist where I can do everything UNTIL order execution.

As you learn a little more about MT4 you will understand that these are not 'conspiracy theories', instead facts. MT4 brokers have available to them many tools to take advantage of their clients. These tools are available on the web.

I guess you are right about the number of strategies, I usually work with only a few of the results so I never paid attention, I use a couple of the sorts and use one or two of the best results from each sort.

I usually eliminate them quickly with Multi Charts, I find that most strategies will not get past Multi Charts.

Enjoy!

Blaiserboy's Website