Phew… I never knew demo-ing a few EA can be quite tough or rather tedious.

Well, I have been trying to demo test other so called Best Forex EA around to see if they are actually the ‘Best’ forex EA.

Ok, granted I am a scum because these forex EA are EA which I was able to download for free. Anyhow, scum as a scum can be, I needed to find out if it is actually as good as they say.

Initially I started out dumping a few EA on one demo account with different lot size as a way to identify if it was profitable at the end of my test period. But this is too tedious so I scraped that idea and a few weeks of demo testing.

Now I have open 6 demo accounts on three main broker that I believe to be interesting.

FXDD, Alpari and Masterforex.

I dismiss Interbank is because I notice, on other forex review, interbank does not seem to show very profitiable result for EA tested on them. My first hand experiences with Interbank with FAPTurbo also did not yield such encouraging results.

So now I don’t give a cat’s shit about Interbank. I just let Don Steinitz’s robot work it’s magic because that is the only robot that shows interesting results with Interbank. (No on my account of course).

So 6 demo accounts, two demo each with each broker. And thus, I will and can only test 2 EA at a time. I wanted to do three each (9 demo in total) but I realize that I am opening a lot of broker windows including my live account and am afraid that it might crash my computer. Maybe I should get another computer for this exercise but currently it is not within my means. Looking at the current economy crisis, I think I should make do with what I have.

Ok, I digressed a little.

Now my objective is to test EA with potential, at the shortest time possible with enough data or result before I can upgrade it to my live account.

Hey, this needs to be done, if I want to stack my profitability on top of my current FAPTurbo profits.

Anyhow, this would be the methodological approach which I need to take.

1. First I need to back test the EA from 1999 2008 till today. I will be using FXDD for personal reason and conveniences sake. I need to find out without overloading my cpu if it indeed is profitable.
2. If it is then I would back test it from 1999 to see if it is capable of withstanding all market condition. If not then I dump the EA and test a new EA.
3. Second back testing since 1999 must show some interesting results before I put it into my demo account. The definition of interesting results, well…. not a linear curve but at least it should be hovering above the initial capital.
4. Once I activate the EA in the demo account it will be tested for 2 weeks on all three brokers. Why? Don’t know, I believe two weeks of live demo testing should be sufficient to know if this EA acts according to the back test result.
5. If it’s not interesting or profitable, then dump it and move to the next EA.
6. If it proves, profitable. I will again test it out for another 2 more weeks. Just to ensure it was no fluke.
7. If it is a fluke, dump the EA and move to the next EA.
8. If it isn’t and result is interesting, then I will put it into my live account, with the minimal amount of lot.

So I guess this methodology should be sufficient while it is not perfect the criteria should be enough.

Time is money and consistency is the key that I should be looking out for.Now that I have got my plan and my demo account are all set and broker platform in place.

It’s time to look into interesting EAs I found on the internet. Now this is what I call searching for the BEST FOREX EA… no?