What is the Best Forex EA?
To answer the question of 'what' demand a clear definition to be given. A definition statements certain criteria. To qualify an EA (Expert Advisor) to be the BEST FOREX EA requires the following criteria to be fulfilled:
– It must have relatively low drawdown
– It must have gone through at least 2 years of forward testing
– It must gain consistent profit – regardless of how small, but consistent
– Value of Winning Trades is More than Losing Trades even though Lower Percent of Winning Trades
– Run 24 hours without intervention
– It must be proven with client access into the trading account with the Investor Password
– It must be proven to handle the Volatility time, especially during news
– Not affected by Broker's disconnection, Server's problem, slippage issue, etc.
Truly enough, to search for the Best Forex EA in the market is one of the most daunting and very difficult task to do. There are people who sell EAs for the sake of to get the money and not because it is working. I, personally, have written over 600 EAs and only 2-3 is 'acceptably' working and profitable.
Why is it so difficult to find the Best Forex EA?
– The person who made the EA does not share the EA
– Not one EA is proven yet to be Consistently successful (on this I doubt)
– Even few EAs can prove to be profitable for about a year or so or even longer, it still does not guarantee the performance of the EA in the future
However, in reading and searching including my own development of EAs, I found a few amazing EAs that can be categorized as or in the list of Best Forex EA in the world.
First in the list –
– Running weeks – 46
– Equity gain – 4.33% per week
Second in the list –
The system portfolio based on 3-4 EA (each EA was tested in 10 years history) working together on EURUSD pair only but on different time frames and different strategy's: 1st Buy / sell when the price breaks intraday levels. 2nd based on the parabolic indicator, 3rd EA trade only at "night flat". Max around 5 trades in the same time, some times positions will be opening for more than one day. Stop loss and profit limit conditions applied.I trade with long term profits in mind for those using my signals. I'm happy with small but consistent gains.
This EA is not for Sale –
This EA has LIVE accounts worth more than USD 4.5million with more than 4000 people followers.