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What is considered a great EA? :)
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Medlem sedan Aug 20, 2009 12 poster
paul
Sep 09 2009 at 02:38
1. What % per month should it be averaging?
2. How long should it be forward tested? 3. Do you think back tested results are important? 4. What other factors should we look at before buying an EA? 5. Are most commercial EAs hyped? 6. Are you personally doing well using an EA?
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Medlem sedan Aug 20, 2009 202 poster
kennyhubbard (compuforexpamm)
Sep 09 2009 at 03:00
(editerad Sep 09 2009 at 03:08 )
1. Greater than 5% per EA or it is wasting my time. This is also a function of risk.....with a low risk EA like Robominer 5% is acceptable. A higher risk scalper(or progressive strategy for example) requires a higher return to be attractive.
2. The EA bashers would like 100 years but I am happy to go live with 1 month forward test + backtest results. 3. See above.....people look at back tests and say....oh that won't happen for real. They miss the point of a backtest. Apart from seeing if the strategy works, it also helps you understand how the EA works. 4. Flexibility to use with 4/5 digit brokers & with ECN. A well coded EA also provides feedback on what is happening. An EA creator that is prepared to answer questions also helps. Price is the least important issue. 5. Yes.....however hype does not automatically = scam. Make up your own mind. 6. Yes.....for now<img src='  ' alt='<img src='' alt=' '/>'/>
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Wealth Creation Through Technology
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Medlem sedan Aug 20, 2009 12 poster
paul
Sep 09 2009 at 03:09
Thanks for your insights... :)
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Medlem sedan Aug 01, 2009 941 poster
Elkart (Elkart)
Sep 09 2009 at 05:12
One that makes money...
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Chang beer is evil.
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Medlem sedan Aug 20, 2009 216 poster
Stephanus Rensburg (stephanusR)
Sep 09 2009 at 16:46
compuforexpamm posted: 1. Greater than 5% per EA or it is wasting my time. This is also a function of risk.....with a low risk EA like Robominer 5% is acceptable. A higher risk scalper(or progressive strategy for example) requires a higher return to be attractive. I am not so sure about Robominer he has multiple systems open all showing 2700% or some preposterous figure. But if you look closer you will note he hasn't closed his loosing trades - just keeps them open. Some of the open trades ran at $14000 losses, in a real account you wouldn't do this. Factor in his loosing trades(open) , compare equity with opening deposit and he is actually running at a loss on his systems.
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Medlem sedan Aug 22, 2009 31 poster
robertdbuttst
Sep 09 2009 at 20:57
who is Robominer ?
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lots of little bit's make a one big bit
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Medlem sedan Aug 31, 2009 131 poster
Fulltime247
Sep 09 2009 at 22:00
(editerad Sep 09 2009 at 22:23 )
RoboMiner is a great EA that appear to use a 'Hold and Hope' strategy but its a lot smarter than that. It trades the AUDNZD pair. This pair has historically traded within a pretty tight range. So he plays it up and down from the midpoint. If its above the midpoint he sells every X pips and if its below the midpoint he buys every X pips. It always has a drawdown but the trades will eventually close for a profit. Actually after watching the system still make profits during the great 2008 crash - I have no idea what it would take to blow it up. (Maybe the 2nd Coming?) - So YES it does have drawdown and only closes profitable trades but I cant argue with the fact that no matter how long it takes - THE TRADES DO CLOSE IN PROFIT!! - Its the smartest 'Hold and Hoper' I've ever seen.
http://www.4xproject.com/lang/en-us/robot-overview/robots/robominer/ http://www.forexpeacearmy.com/metatrader_expert_advisor/robo_miner_by_forex_gold_mine/demo http://www.pipcop.com/forums/current-live-robot-reviews/126-forex-goldmine-robominer-robot-review-live-account.html http://www.forexrobotstest.com/robominer.html Also StephanusR - I looked at your trades and noticed that you're losing trades when they turn against you 20 pips OR LESS. YOU CANT CLOSE TRADES THAT SOON WITH A EA!! - Market noise will turn almost every trade into a loser. The best a EA can do is put you on the side of probability but the trade must have room to work!! - It took me a long time to realize this. Most EA's need fairly wide stops to work BUT wide stops will give you a high win percentage. Now the EA's job is easier. Collect enough pips to offest the ocassional SL hits. - Manual trader have a much easier job since humans are far better traders than robots (I see your on manual) - I wish you luck but I've never been able to trade profitably by EA with 20-30 pips stops. Bots just ain't that smart. (In fact the successful one I've seen need to win more than 10 trades to cover 1 loss - Scalping 5 pips with a 50 pip SL - [http://tinyurl.com/shocker-ea
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It ain't easy being Cheesy!
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Medlem sedan Aug 21, 2009 10 poster
jacky
Sep 12 2009 at 12:39
I think there is no great EA all the time.Market do changes, and EA must do optimizing too.It is not just a computer program, but human brain, truly mathematical and statiscal, trading style and human intervention involved in that. Never trust EA do your trading and leave it alone.
Robominer is a very special one, but it designed to be a retire account, not an agresive trading. There are many trading systems that trade AUDNZD pair smartly, not only robominer. They look very closely to this pair and take advantage from their price moves, even with martiangle strategy, they can handle this pair profitable.
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Medlem sedan Aug 20, 2009 12 poster
paul
Sep 12 2009 at 16:34
Jacky, thanks for your post... Are you currently using any EA? Any to recommend?
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Medlem sedan Aug 21, 2009 10 poster
jacky
Sep 13 2009 at 01:50
Hi Paul,
Right now, I am using EA to open new position, but I always close manually to avoid profit becomes negative, because so many pairs to trade to maintain my margin, so I close it if it reaches 10 pips, and sometimes I take it for a loss trade to avoid huge drawdown and must use recovery system. I don't want to be greedy, just strict to my system.Sometimes, it continous goes to my favour, but I let it go and forget it, so many opportunities to trade. I am using Nanning Bob EA 60 x 90, here is the link : there are many variants but I like it because they have template for every currency and we can see history path through the template to see the winning or loosing by the chart visually and they have recovery system EA http://www.forexfactory.com/showthread.php?t=150293 There is a guy that test it here too, I read it at the forum, and let the EA do the trades. Here is the link : http://www.myfxbook.com/members/TimeFreedom I use Robominer too, yes, it is a great EA that really a mathematical concept.Simple to understand but I think there is a way to minimize drawdown by hedging them to take advantage through their ranging moves between their high and low extreme history chart. Sometimes I think it's not wise if just take profit every 40 pips for one winning position than we have to spare so much margin to resist all open position that still floating around. Here is the link for trade AUDNZD too, but I have not trade it yet : http://www.forexfactory.com/showthread.php?t=129813
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