Why people generally prefer to buy EA instead of managed account service?
Member Since Aug 20, 2009
216 posts
Jul 12, 2010 at 05:49
winsor posted:
Both manual and mechanical systems (expert advisors) go through a period of drawdown. It is impossible to have a system that can generate month after month profit for an extended period of time. This will define the law of physics by claiming that one trading system has no risk.
You only list three winning systems at https://www.myfxbook.com/members/winsor/www-ctsforex-com-haley-gbpusd/37650 . Where are the other 300 systems that don't work? Wtih myfxbook one can selectively only upload those sytems that work on EA and not tell us about the losing accounts. For this reason not even a real trading account means anything, only a live stocktwits.com account. The three systems listed are for only three months, which proves nothing. 12 months down the line, they will all be in the red according to the laws of probability.
Member Since Oct 29, 2009
75 posts
Jul 14, 2010 at 12:02
MyLiveEA posted:
Ok here it is...It's never just the EA or system. What it is has to do with the excellent blending of both the EA/system and the person using the system. This is why you can have 2 people using the same system one makes money the other one fails.
It's really that simple. EAs are never a set and forget type of deal and when you make them so you will have a great loss or blow your account. They are a tool to use.
I like this...
NEVER say DIE!!!
Jul 19, 2010 at 13:23
It has been a while not reading this topic and I'm glad to see that fellow traders are still interested in it.
I can see that there are still many people talking about commercial EAs that don't provide any live proof....I still don't understand why people still waste money and time in testing those EAs.
I can see that there are still many people talking about commercial EAs that don't provide any live proof....I still don't understand why people still waste money and time in testing those EAs.
Wallace Forex Laboratory conducts research on profitable EAs. Our ultimate goal is to create a portfolio of EAs which can provide consistent profit.
Member Since Oct 29, 2009
75 posts
Jul 20, 2010 at 01:21
I have a theory here... Probably a hypothesis.
EA is a software with an ability to code and recode. It is term as a robot, because it does something mechanical. So in a very general term it is a toy. A big boy's toy who can spend the money and put it in the field to play with.
There are some forums, which mainly talk about how to optimize it, some even modified it, some share their ideas, some share their modified version, some keep it for themselves, some steal it etc etc etc.
I guess it's the same as remote control miniature cars... you have all these miniature cars and there are people who are just into it. Some modify it, share their ideas, blah blah blah etc etc etc.
So I guess with EA it is the same, some people will buy it just to toy around with it. Some people will of course because of greed will also buy it and toy with it.
Beginners would buy a miniature cars and race it on a track only to find out that it is not as fun as they though it was. Same goes for EA, beginner would buy an EA and 'race' it in the market only to find out that it is not as profitable as they though it was. Some would be drawn to it and being to research and learn. Some would just drop this whole EA BS all together.
With over 1BILLION internet users, there is still a market for these toys.
I guess, that is the reason why there are still so many commercial EA keeps popping up one after another. This really bothered me because there must be an angle that we are missing here.
No matter how many times we shout scam, bs, lousy, unprofitable, these forex ea websites keeps popping up.... The market must be large enough to accommodate this 'hobby' Or with 1 bil internet users... all those who are shouting scam, bs, silly, stupid commercial EA are but 0.000000000000001% of internet users.
Ok... I am probably exaggerating here. But I guess at this point in time. This is my only explanation. The scam busters and nay-sayers of EA are but a drop of water in this big lake (if not ocean)
And like toy miniature cars, there will always be people who are interested in the hobby. They will want to buy it, toy with it, test it... etc etc etc.
So it is also for this reason, I believe there is still a market to tempt would be 'financial freedom' seekers. A term which is loosely used and philosophically flawed which I believe is the cause of 'suckers' being born every second. Then again... probably I am describing myself here many moons ago when I was young and stupid... 😁
EA is a software with an ability to code and recode. It is term as a robot, because it does something mechanical. So in a very general term it is a toy. A big boy's toy who can spend the money and put it in the field to play with.
There are some forums, which mainly talk about how to optimize it, some even modified it, some share their ideas, some share their modified version, some keep it for themselves, some steal it etc etc etc.
I guess it's the same as remote control miniature cars... you have all these miniature cars and there are people who are just into it. Some modify it, share their ideas, blah blah blah etc etc etc.
So I guess with EA it is the same, some people will buy it just to toy around with it. Some people will of course because of greed will also buy it and toy with it.
Beginners would buy a miniature cars and race it on a track only to find out that it is not as fun as they though it was. Same goes for EA, beginner would buy an EA and 'race' it in the market only to find out that it is not as profitable as they though it was. Some would be drawn to it and being to research and learn. Some would just drop this whole EA BS all together.
With over 1BILLION internet users, there is still a market for these toys.
I guess, that is the reason why there are still so many commercial EA keeps popping up one after another. This really bothered me because there must be an angle that we are missing here.
No matter how many times we shout scam, bs, lousy, unprofitable, these forex ea websites keeps popping up.... The market must be large enough to accommodate this 'hobby' Or with 1 bil internet users... all those who are shouting scam, bs, silly, stupid commercial EA are but 0.000000000000001% of internet users.
Ok... I am probably exaggerating here. But I guess at this point in time. This is my only explanation. The scam busters and nay-sayers of EA are but a drop of water in this big lake (if not ocean)
And like toy miniature cars, there will always be people who are interested in the hobby. They will want to buy it, toy with it, test it... etc etc etc.
So it is also for this reason, I believe there is still a market to tempt would be 'financial freedom' seekers. A term which is loosely used and philosophically flawed which I believe is the cause of 'suckers' being born every second. Then again... probably I am describing myself here many moons ago when I was young and stupid... 😁
NEVER say DIE!!!
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