EM Innovations Team have posted demo and live trading results of CloveriX, IrisFX, PointerFX and LongRunFX EAs on the third party verified site myfxbook. EM Innovations team is making a few recommendations and suggestions regarding how to trade with EAs. Some of these recommendations are as follows:
1. Backtesting results are not accurate. This is mainly because of the fact the when you download the historical data, you download way less ticks and the historical data gets correlated by the broker. Best data is gathered using real time streaming.
2. Instead of backtesting, forward testing on a demo account is a much better choice.
3. EA performance is highly dependent on the broker and can vary from one broker to another.
4. Always forward test or demo test an EA before trading live with it.
These are good suggestions. Keep these recommendations in your mind when testing a forex robot or a forex ea. Let’s discuss the CloveriX, IrisFX, PointerFX and LongRunFX EAs developed by the EM Innovations Team.
A real account statement of CloveriX System has been posted on the third party site myfxbook. Monthly gain is 10.14% with a drawdown of 9.82%. You can take a detailed look at the myfxbook CloveriX EA statement. It’s monthly returns for 2011 are as follows. In July it made 17.22%, in August 33.76%, in September 4.63%, in October 32.24% in November 7.05% and in December 7.54%. In the same manner, you can take a detailed look at 2012 performance of CloveriX EA. You should also take a detailed look at CloveriX EA demo account statement posted on the myfxbook site plus the backtesting results of CloveriX System as well.
IrisFX EA two demo account statement has been posted on the myfxbook site. One IrisFX EA demo account statement shows a monthly gain of 17.51% with a drawdown of 20.81%. In the second IrisFX EA demo account statement posted on the myfxbook site, the monthly gain is 9.88% with a drawdown of 6.41%. You should take a detailed look at this IrisFX System two demo account statements especially the monthly returns being made by IrisFX EA. Also don’t forget to take a detailed look at the backtesting statement of IrisFX EA.
PointFX EA demo account statement posted on myfxbook shows a monthly gain of 19.38% on average with a drawdown of 12.96%. In 2011, in September PointerFX EA made a return of 59.50%, in October 43.18%, in November 17.74% and in December 8.94%. You should take a detailed look at the demo account statement of PointerFX System posted on the myfxbook site.
LongRunFX System demo account statement that has been posted on the third party site myfxbook shows a monthly return of 18.47% with a drawdown of 8.65%. You can take a detailed look at the LongRunFX EA demo account statement posted on the myfxbook site.
You can try anyone of these EM Innovations Team EAs. First test them thoroughly on the demo account. Use the risk settings of 1%. Only trade live with anyone of these CloveriX, IrisFX, PointerFX and LongRunFX EAs once you are satisfied with the demo trading results. Try to get a monthly gain of above 10% with a drawdown of less than 5% on the demo account for at least two months before you decide to trade live with EM Innovations Team Forex EAs.