MQL5 TUTORIAL STEP 9 – HOW TO CREATE BETTER STATISTICS

You already know this “Graph” tab from your first backtest and you know the “Settings” tab where you have started the backtest.
Now please click on the “Results” tab, this will show you how your Expert Advisor is doing, this one made 65 trades, you can see lots of other useful information here and now please right-click on the statistics and select: “Report/ HTML”, I will call this one: “SimpleBuyStop-EURUSD”, save it and now your web browser should open and here is the complete report, it will tell you a lot of useful information, you will see some graphs here and below that you will find the details for each and every trade we made.
These are all automated trades from the Expert Advisor you have created in the last video and this is the total result and now we are going to test another currency pair, this one is the Australian Dollar against the Canadian Dollar and to speed up the process I will remove the visualization option here, and start a new test.
After a few seconds you will see a graph here and this one took off in February and here is the end result, once again click on the “Results” tab, right click, export to HTML, give it a name and save it. Now you can compare the results on the two HTML pages here but it’s also possible to export the report for Excel, I need to open it with Google Docs because I don’t have Excel installed on my trading server, you can use all this data to calculate if your trading system is doing well.
Please keep in mind that you can always lose money, for example if you had closed your account right here you would have made a loss because the equity is only 9,825 Dollars and that’s exactly what human traders do, they get fearful or greedy, they violate their own trading rules, they get out at the worst possible time when the pain is too big and if you have been trading for a while I bet that most of your losses have been caused by you and your own feelings.
Until today you probably used your computer to generate charts, you might have used lots of different Indicators to tell you if it’s going up or down, the more complicated the better and then you have used your eyes to find out if it’s going up or down. In my eyes automated trading is the best way to avoid all the emotional mistakes we humans make and your computer is already creating the charts and the Indicators and it knows each and every price on the chart so it’s just a logical step to trade based on calculations instead of the familiar emotional rollercoaster you might know so well.
If you need anything else just Google for MQL5 Tutorial and you should find my website: mql5tutorial.com and when you click on “Videos” you will find my YouTube channel, it contains dozens of other video resources, you will find simple examples and some advanced stuff and all these resources should help you to get started your own automated trading. If you have any further questions you can always reach me, just write a little email, I always do answer every mail myself and most of the time within 24 hours.
Now let’s get started and create your own automated trading system that can trade up to 22 currency pairs 24/7 while you eat, sleep or spend time with friends and family.