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Does The Perfect EA Really Exist?

If you're like most people then you're probably on the hunt for the perfect expert advisor. You've most likely tried a few of the free ones available on the web and found them lacking. You may have even put your hand in your pocket and parted with some hard-earned cash, but the results were always miserable.

Jared has been running his expert advisor since March 2014 and his account is currently up by a whopping 3433%
I've been involved with Forex since 2007 and I must have tested 100's of EA's during that time. There's only been a handful that I've tested and then gone on to trialing with real money.

Some showed great promise initially but eventually they would fail. Maybe the market conditions changed or maybe they weren't coded well enough and couldn't handle the unpredictable nature of the Forex market. Whatever the reason for their failures, I could never really find a consistently profitable expert advisor...

...until now!

If you've been a regular reader of my blog you would have seen me promoting an EA called Keltner Pro. I sent out an email a few months back giving results of my ongoing test of the EA which were very promising indeed.

In fact there's a huge banner up at the top of this page which you've no doubt noticed. 🙂

I had a few issues with my VPS provider and to cut a long story short, I had to scrub that initial test and start again. Thankfully it was only a demo account so it wasn't a huge loss.

At the beginning of November 2014 I decided to start a new test, only this time with real money. It wasn't a huge amount but it was enough to allow the EA to function correctly and to be able to trade the 'real' Forex market as opposed to just demo. There can be differences between the two so trading a live account is really the only way to test an expert advisor.

I opened the account with $1000, actually it was $970 after Pepperstone had taken their pound of flesh.

The EA works on a strategy involving two things that are always present at one time or another in the Forex market; volatility and momentum. Because volatility only occurs at certain times, the EA does not trade very often. When it does enter trades in can be pretty hairy so it's usually a good idea not to watch it.

If you do, you run the risk of intervening and possibly deciding to bail too early. One of the reasons you're using automated trading is to reduce the possibility of human error, so try to keep your hands off. The other thing is that if you're trading correctly it should be boring. If you're looking for excitement then you're better off taking a flight to Vegas and sitting down at a poker table.

It's only been 6 weeks of testing Keltner Pro with real money but already the account is up by almost 20%

There has been minimal drawdown and only one instance where it just got too crazy for me... and I panicked a little. Just like most people, I'm good at giving advice but not always the best at taking my own advice. I really didn't have to panic and should have had more faith in the strategy and the ebb and flow of the market.

Easier said than done when you see 12 trades open all at the same time and the market is moving rapidly. But since the EA trades on volatility and momentum, that's to be expected.

I've set up MetaTrader to send an email each time the account balance changes. From there it gets forwarded to my mobile so I can get alerted instantly when my account goes up or down. My phone was going absolutely crazy with 12 trades opening at the same time and a fast moving market.

Oh what fun I had that day!

You can see my live account stats in the image below...

 

View the ATS myfxbook page by clicking here.

I've turned the expert off for now as it's the week before Christmas and the markets are just too weird for my liking. There's no reason to get greedy and the markets will be there again next year.

Even though I've been trading since 2007, I've only found a few EA's that I was confident enough with to trade real money. I usually prefer to trade semi-automatically and will make the final decision to enter a trade myself. Maybe I'm a bit of a control freak... you'd have to ask my ex-wife! 🙂

The Keltner Pro expert advisor was the first EA that I'd seen in a long time that made me want to throw my money in the ring and see what happens. Just as with anything else when it comes to trading, you should never risk more than you're willing to lose. If my test ultimately ends up failing and I lose $1000 I won't be too upset. If the EA does happen to live up to its initial promise then I'll be very happy indeed.

I figured it was worth the risk and it will be interesting to see how this unfolds.

If you'd like to read more about the Keltner Pro expert advisor then visit the developers website and see the latest statistics for yourself. Jared has been running the expert since March 2014 and his account is currently up by a whopping 3433%

Not a bad ROI for just sticking an EA on a VPS and sitting on your hands.

Visit the Keltner Pro website by clicking this link

Dec 20, 2014Steve Fleming

Steve Fleming

Steve Fleming has been a professional programmer for over 20 years and has programmed in MQL4 almost exclusively since 2007. He has coded 100's of EA's and indicators for his growing list of satisfied clients and has helped 1000's of people learn how to code their own EA's.

If you would like to have your strategy coded by Steve Fleming or receive one-on-one training, then please send an email to [email protected] .

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I came to Steve with the aim of learning how to write expert advisors. With his great teaching style and structured course I have been able to learn an enormous amount and have been able to write a number of expert advisors myself. As I develop various systems and sometimes come across issues Steve is always a great source of help. I look forward to developing more expert advisors and using Steve as a mentor as and when required.
AlanSingapore
After extensively researching around for a coach to fast-track my ability to code Expert Advisors, I came across Steve Fleming. Right from the beginning I found Steve to be very helpful and motivating, within five weeks of coaching I am coding my first EA. Programming is just like any other skill in life, it takes time to learn and I know without a coach like Steve, it would have taken me months to learn MQL. Most importantly what I found in Steve is someone who wants to see you succeed as a … Read more
DeonBrisbane
Working with Steve has really cleared the fog for me as it relates to writing my own EA’s. I had no prior code writing experience. Prior to working with Steve, I had bought every book available on MQL, read lots of blogs and downloaded pdf lessons. But, none of these resources could answer any of my questions. Working with Steve has given me a much broader understanding of how to write code. He not only teaches you how to write an EA, but explains the best coding practices so you are writing cod… Read more
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