Hi Leon,

You can use MyFxBook to input your account details http://www.myfxbook.com.  Once you have input your trading account in MyFxBook, you are able to use it to analyze quite a number of things.

Another function besides the Entry/Exit accuracy analysis is Custom Analysis.  Once you have verified your account by using the given Investor authorization password to input in your MT4 and click the "connect" (you can thereafter change it back to your own personal investor's password). 

You can use this Custom Analysis to see which EA performs better (separate curve on the graph, attached screen shot for each EA for you to compare and filter the good ones from the bad ones).

In addition, using the Entry/Exit accuracy features found in History Tab, you can then understand why your bad ones are bad (is it bad entry or bad exit, attached screen shot 2)

Hannahis,

I have, for a minute ago, opened an MyFxBook account. MyFxBook requires that Myfxbook EA will be placed on a chart to connect to my MT4. As I want to start using MyFxBook on my account tomorrow, I want to organize correct working environment already today.

As MT4 allows only one EA on each chart, and each one of my active charts has a strategy connected to it, so my conclusion is that I have to open additional chart on my MT4 platform for placing there MyFxBook EA. This EA will be able to pick up information from all of my active charts to send this info to MyFxBook. Is this a correct thinking?

Thanks,

Leon

P.S. I totally agree with your strong support for FSB and Mr. Popov’s efforts and quality of his engagement. I am a proud owner of 2 licenses! (and I need only one license for developing new strategies).

Do I understand this correctly? So I will have 12 charts on MT4 terminal with my strategies and additional only one chart for placing MyFxBook EA? (which gives totaly 13 chart windows). Your wrote “open 1 time chart per EA” which I interpret (wrongly?) that I should, for each strategy, open additional chart to place there the Myfxbook EA - which gives totaly 24 chart windows. Could you kindly clarify.

Leon

Hi I realise you choose the 3rd option (MT4 EA) in the MY PLATFORM selection.  That's why you mentioned MYFXBOOK EA, I didn't get it at 1st but now I do.

I didn't use this 3rd option, I am using MT4 (AUTO UPDATE ), the last option in the selection.

Somehow the 3rd option didn't work well for me.

Wow impressive Leon (J),

You have some rather good EA with high entry and exit accuracy, good job!!!  Are these EA improvised from your 7.0 series?  Are you going to share these EA in my footsteps, ha, ha, ha

I can see you begin to enjoy using 1 min time chart (from your initial 1 hr preference)

Keep it up, it's very satisfying to catch a glimspe of the fruit of our labour and having hope in our horizon to keep us going when we meet some bumpers along our path.

Anthony Robbins once said, our Passion must be stronger than our pain.  In order for us to overcome our pains (from failures) and not let pain (disappointments) overcome our passions (dream of developing a highly profitable EA).

It is not what we get. But who we become, what we contribute, that gives meaning to our
lives.
– Anthony Robbins

“STAY COMMITTED TO YOUR DECISIONS (to develop successful EA), BUT STAY FLEXIBLE IN YOUR APPROACH/trading perspectives (till you found one whom you can have confidence on).”

Do try to use 1 min charts as your only chart because it is very powerful tool if you learn how to use it, together with LTF, Longer Time Frame to stabilised your EA

If you don't really sure of transferring your other time chart to 1 min, you can PM me and attach your EA, and I'll transpose it to 1 min, from there you can see how I do it and how to incorporate LTF function into it as well.  No obligation,  at your comfort level.

Hope you will learn more about your EA behaviours from observing their entry n exit performance so that you know which opening/closing conditions are most efficient and why others "fail"  Try not to discard EA till you know why it failed, otherwise we learn nothing from it.  There are no failure, only results/information to learn from

“I’ve come to believe that all my past failure and frustration were actually laying the foundation for the understandings that have created the new level of living I now enjoy.” –  Tony Robbin

Hi Leon

If you want a quick glance at which EA is the best performer, then you can click at the "Custom Analysis" at the top right hand corner (screen shot 1). From the "Custom Analysis", you can choose the period and which EA (you can select some or all of your EA for comparison) you want to analyze under the "Magic" Tab/section.  The EA with best performance can be seen as the one with the highest curve (if you bring your mouse to the graph/curve, you will see the magic number of the EA/description of the curve/graph).

Near the top right hand corner, you can choose to export (with a scroll down option), choose CSV.

Here is how it looks like in the exported csv (excel) file.  No need to add row by row etc.  All the information/column/rows are down in an instant when you export the csv file.

You can click on whichever column to sort your data in ascending/descending order, eg. click on top of the Magic column and your data is sorted according to each EA.

Hi Leon,

Did your EA manage to capture the down turn in the EURUSD that just happened 2 hours ago?

With the right tools in hand, it's much easier for us to develop and fine tune out EA.

All the best for your endeavour and thanks for contributing to the FSB community to keep up the spirit of sharing and giving

When you employ hedging, it only shows you/EA are not sure of what you want.  it's ok if you are experimenting with different theoretical framework and not sure which works better.  But if you are using hedging as your trading method, I'm not for it as it could be a signal of what I call "psychological paralysis", whereby the trader is unsure of what to do, and use hedging as a way to "remain" in a state of "indecision".  So while hedging is in operation, we missed out the chance to make any real profit because the gain is nullified by the lost due to hedging, so nothing gain, nothing lost but we actually lost the opportunity to make the right decision.

Quit hedging and start working towards what you really want.  Often in the midst of my hundreds EA, there are bound to be some hedging because some EA use different time frame as their determining factor for entry (although all my EA are running in 1 min time chart) and hence, the effects/incident of hedging is inevitable but not deliberate as my trading style.

Hi LeonHerd,

I've found another website that would help me analyse my EA performance more effectively and user friendly.  Now I can easily filter/shortlist/select out good EA from my list of hundreds EA.  What a relief.

Here is the link http://forexsb.com/forum/topic/5832/usi … rformance/

Thank you Hannahis for your input! FX Blue is now added to my tool box.

Also, thank you Mr. B. for your views.

Diversity of opinions on this forum allows me to draw my own conclusions and to acquire better compass for my own way through the jungles of Forex.

Leon,

As for the website for EA analysis, I realised some of my early mistakes and here to share with you so that you can avoid my same mistakes.

Whenever you make some changes/amendments to your EA, be it SL, BE or TP or additional conditions, do change your magic number.  Eg 2401.1 to 2401.11 so that your statistical results would differentiate your past results and start a new record via a new magic number to reflect the new changes you have made so that you could monitor the progress.  My mistake was, when I made changes to some of my losing EA and I didn't change the magic number...from the EA analysis, I wouldn't able to tell how my changes has impact or improve my EA.  (I know that sounded common sense...but that's because I didn't have the EA analysis tools to begin with...hence, now I restart all my accounts afresh so that I start to record all my EA statistical results with greater care, cos I'm going to do my elimination and selection base on it).

What I'm looking for now is each individual's EA performance, (profit factor, win ratio etc), I'm not too concern about the account's balance sheet.  That's later part, when I've shortlisted my EA and then the issue of money management and balance sheet becomes the next phase of my goal.