How to Back Test Forex Expert Advisor?
Learn how to back test forex expert advisor in few steps to find if the expert advisor you want to use in your forex trading journey is reliable or not. It is important to know the performance of the expert advisor for you to have an idea if it will be good to use or not.
Here are the simple step by step procedures on how to back test forex expert advisor in Meta Trader 4. Make sure you have MT4 downloaded in your personal computer.
How to Back Test Forex Expert Advisor? Part 1
Step 1. Log in to your MT4 forex trading platform.
Step 2. Press “view” and find “strategy tester”. for short command, use CTRL+R
Step 3. Choose the following;
- Expert Advisor
- Symbol (Currency Pair: Ex: EURUSD)
- Every Tick
- Period (Time Frame)
- Spread: Current
- Tick USE DATE (make sure the historical data price of your FX pair will load) example EUR/USD from June 2018 to March 2019
Step 4. Click “START”.
How to Back Test Forex Expert Advisor? Part 2
Analyze the test result of your forex expert advisor. By looking at the result, graph, journal and report. DO not forget that the criteria in selecting a good forex expert advisor are as follows;
- Modeling Quality
- Absolute Drawdown
- and maybe the net profit
- Investoo.com explained clearly the criteria in choosing best Expert Advisor
Related: Automated Forex Trading VS. Manual Trading
I am also trying hard to find good forex EA since this year starts 2019. If you have one reliable forex expert advisor that you tested on live and making real money, I am willing to pay for it. Just send me email or leave a comment below. Thanks for reading!