What is the difference between Lite, Advanced vs Rider?

[kenorb]

What is the difference between Advanced and Rider?

Originally posted by @soumsena in #111 (comment)

[kenorb]

Lite, Advanced and Rider have slightly different logic (despite sharing the same codebase). The Lite version is the most recommended version to start with, whereas Advanced has more options to offer (more to customize) and can deal with higher spreads. Rider should deal better with higher deposits and spreads, but currently it's still in development phase. Which which version you decide to use it's up to you. If you're not happy with the results, you can always optimize it for the data that you're planning to run on.

Basically, Lite version of EA has much less input options than Advanced version in order to not overcomplicate the configuration for less experience traders, so people are less confused and they can find easier to use the Lite version when starting with this EA. It still got all the necessary settings which are useful, where Advanced comes with more sophisticated parameters and it allows for more customisation.

Rider have more shared settings than Advanced. For example all trailing stops can be the same for all strategies. This makes all strategies on all timeframes for long-term investment.
So for example, by using Advanced, M1 strategies operates on data provided by M1 data, same for M5, and so on.
The idea behind Rider version is that, strategy can open order based on specific lower timeframe (such as M1), and this order will join other group of trades. Then EA manages all trades on the same basis with shared trailing stops on higher timeframe, so all orders can be closed given higher timeframe data. Also, trailing stops are less strict, which allows trades to be open for days or weeks. In other words, Rider aims to be the long-term strategy (for days and weeks using swing trading), than day-time short-term trading like Advanced.

That is the goal.

I hope that make sense.

[kenorb]

v1.080

Which version to use?

Lite, Advanced and Rider have slightly different logic (despite sharing the same codebase). Advanced has more complex options to offer (also more to customize) and can deal with higher spreads in comparison with Lite. Rider should deal better with higher deposits and spreads. Which which version you decide to use it's up to you.

Here is a simple table which version to use when.

Account setup	Version to use
Spread <=2pip	Any
Spread >=2pip	Advanced, Rider, Elite
Deposit <= $1000	Lite, Advanced, Elite
Deposit >= $1000	Any
Leverage > 1:200	Advanced, Rider, Elite

[kenorb]

EA31337 V3

Comparison of the different versions of the EA31337 V3 which are free and open-source.

Lite

• Best For: Beginners or those who prefer simplicity and an uncomplicated trading.
• Features:
  • Allows choosing strategies per different timeframes.
  • Typically involves shorter-lived trades, reducing overnight risk.
  • User-Friendly: Streamlined for quick setup and optimization, reducing the complexity for beginners.
• Strategy:
  • Good standard market conditions, particularly where lower spreads are prevalent, focusing on short-term trading.
  • Suitable for standard trading conditions with lower spreads.
  • Uses straightforward trading signals from selected strategies and basic indicators for decision-making.
• Customization: Limited to essential settings to keep the interface clean and operations simple for new users.

Advanced

• Best For: Traders seeking in-depth control over trading parameters.
• Features:
  • Advanced Trading Logic: Includes condition-action based tasks for more dynamic trading responses.
  • Fine-Tuning: Sophisticated parameters for precise strategy adjustments, allowing for a tailored trading experience.
  • Spread Handling: Better equipped to higher spreads through advanced trading mechanisms.
  • Stealth Mode: Allows setting fixed hidden stop loss and take profit levels to protect trading strategies from broker interference.
• Strategy:
  • Enhanced Day Trading: for traders who engage in detailed day trading strategies with the capacity for intraday adjustments.
• Customization: Extensive options for setting up tasks, trades, including time-based closures, specific stop-loss, and profit targets, offering a high degree of over trading activities.

Rider

• Best For: Investors focusing on long-term growth or those managing substantial capital.
• Features:
  • Flexible Trade Management: Features less strict trailing stops to accommodate the natural ebb and flow of longer-term trades.
  • Swing Trading Focus: Optimized for trades that span several days to weeks, capturing larger market movements.
  • Unified Strategy Settings: Employs shared parameters across different strategies to maintain consistency in trade management across various timeframes.
• Strategy:
  • Long-Term Positioning: Designed to hold positions for extended periods, making it suitable for traders with larger accounts capable of withstanding market fluctuations over time.
• Timeframe Integration: Entry points might be determined by lower timeframes, while trade management occurs on higher timeframes to align with swing trading principles.
• Customization: While it simplifies management with shared settings, it still provides room for strategic adjustments tailored to long-term trading goals.

Elite

• Best For: Professional traders seeking highly complex, customizable and adaptive strategies for those who understand complex trading systems.
• Features:
  • Advanced Meta-Strategy System: Introduces a framework where strategies can act upon the outcomes or signals of other strategies, allowing for a layered, sophisticated approach to trading logic. This recursive strategy design allows for unprecedented depth in market analysis and response.
  • Multi-Currency Trading: Capable of executing trades across various currency pairs simultaneously, enhancing diversification and opportunity capture.
• Strategy:
  • Deep Strategic Layering: Utilizes meta-strategies for decision-making, where the EA can analyze and react to the success or signals of its own strategies, not limited to basic indicator signals. This approach provides a nuanced, multi-dimensional view of market conditions.
  • Ultimate Flexibility: Designed for traders who possess a deep understanding of both market mechanics and algorithmic trading, offering logic that can adapt to virtually any market condition or trading style.
  • Offers a sophisticated trading approach of meta-strategies where trading decisions can be based on the performance or signals of other strategies, not just indicators, offering a high level of strategic depth.
• Customization: Extreme Customizability: Traders can engineer highly intricate trading algorithms directly within the EA, allowing for bespoke solutions tailored to specific trading philosophies or market hypotheses. This includes setting up complex conditional logic, risk management protocols, and adaptive trade management rules.

Other

Libre

• Best For: Educational use, research, and developers interested in EA mechanics. NOT suitable for real trading.
• Features:
  • Easy to compile, modify, and debug, perfect for understanding EA internals or developing new strategies.
  • Free and open-source.
  • Ideal for programmers looking to delve into EA code and its strategies coding or for education purposes.
  • Supports numerous strategies for testing and learning purposes.
• Strategy:
  • Can run a selected strategy across various timeframes, useful for strategy analysis rather than profit.
• Customization: Allows simple configuration of strategy and risk margin, or further customization from the source code.

EA31337 VIP

VIPs are premium proprietary versions of EA which utilizes machine learning for market analysis, prediction, and decision-making.

VIP1

• Best For: Sophisticated traders or funds employing machine learning for predictive analytics and trading decisions.
• Features:
  • Machine Learning Integration: Incorporates machine learning models for real-time market analysis, prediction, and decision-making. This includes neural networks, reinforcement learning, and other AI-driven techniques to adapt to market changes dynamically.
  • Data-Driven Strategy: Utilizes vast datasets for training, including historical price data, news sentiment, social media trends, and macroeconomic indicators, to generate trading signals with high precision.
• Strategy:
• Predictive Trading: Leverages predictive models to anticipate market movements before they occur, aiming to enter trades at optimal points for maximum gain with reduced risk.
• Customization: Extensive options for setting up tasks, trades, including time-based closures, specific stop-loss, and profit targets, offering a high degree of over trading activities.

General Notes

• Lite is the simplest, with each subsequent version adding layers of complexity and strategic depth.
• Signal filters for opening, closing, and timing trades are available in Advanced and Rider, enhancing trade management.
• For further information, read Wiki pages.