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EAs do not work for me! Its much better to do manual trades.

expert2trade
Nov 11 2014 at 08:15
37 posts
I have tried several EAs and come to the conclusion that they work only under certain conditions and in the Forex market change is constant and instant!

I feel active trading EAs are pretty dangerous, even with the back-testing done!

We can control the entry of manual trades, just the charts are enough to say which way the trend will move :-)

Whats your take on EAs ?
Yes! with the right skill....its possible to make 40% a day in Forex.
Rihan
RSTrading
Nov 13 2014 at 18:12
385 posts
EAs are programmed to work exactly like what they are, robots. No emotion. Most of the time they are based on manual strategies.
There are a lot of naysayers (and I am sure a few will voice their opinion)that swear by trading manually.

To each his own. People have different experience with martingale/hedging/EAs etc.

Finding a profitable EA (for the long run) is extremely difficult. Imo owners of such EAs will rather keep it to themselves. I am yet to discover one that doesn't cost an arm and a leg and survive a year or two with backtesting with acceptable dd.

Still I am pursuing this, because I (and I am sure many others) do not have the time to trade manually.

Just my 2c.
CrazyTraderfx (CrazyTrader)
Nov 13 2014 at 19:49
1718 posts
As Expert2trade said it, All EA (particular strategies) work depending some specific market conditions. Once you got that... You simply activate or not your EA.
This must be automatic... otherwise it would be too much work to do it.

Vitautas
Nov 14 2014 at 08:24
51 posts
99% of the EAs are crap, or they are OK but work only under certain market conditions. So maybe you find an EA that might be good, but because you don't trust EAs anymore after many fails. But you get to know a lot about the market with EAs plus they are a lot of entertainment. They are a very good start into the market, especially if you have a day job. Important: If you see an EA with a good forward test of maybe 3 month, don't get greedy. Just wait another 6 month and the chances are good that the EA fails -> Money and time saved. Even you have a lot of action with EAs, you need patience!
expert2trade
Nov 14 2014 at 12:13
37 posts
Sure! But I have never seen a "profitable" EA on a consistent basis. In fact a mix of manual and opening/closing trades via EA can work to some extent. But profitable trading is largely a manual activity and profits on autopilot is more fantasy than reality.

I can say for sure, EAs can work in trending markets....but during rangebound and other confusing times, EAs can make one lose money!
Yes! with the right skill....its possible to make 40% a day in Forex.
CrazyTraderfx (CrazyTrader)
Nov 14 2014 at 18:05
1718 posts
So I keep saying once you know how to identify market conditions... your EA becomes really smart and trade only when market is supposed to be suitable.
paddleplus
Nov 15 2014 at 01:24
12 posts
EA's or Manual
All that maters is profit.
And they both can do that.
And they both can drive you to the poor house.
Pip On
expert2trade
Nov 15 2014 at 14:56
37 posts
I trust no EA at all....tried most of them on a demo account and none of them deliver profits. Automation just to lose money is not my kinda style 😝

If anyone has made profits with EA trading for them, either its their own strategy and they wouldnt share it! Or just crap automated trading with losses galore. Best is to test all EAs with demo account for a year....if at all they last that long!

Manual trades with trailing SL is my way for sure...that works always!
Yes! with the right skill....its possible to make 40% a day in Forex.
GBL
GBLab
Nov 15 2014 at 15:02
93 posts
Fully agree with @RSTrading and @paddleplus.

The best thing about EAs - they are emotionless. @expert2trade , if you trade successfully manually adhering to a certain system, why don't you ask somebody to encrypt your system into the EA? It would do exactly the same what you do, but 24 hours a day, 5 days a week, and surely without human emotions and errors.

Nevertheless, you always need to remember that "no trading system is guaranteed". This warning relates not to the automated trading systems only, but to the manual systems as well.
expert2trade
Nov 17 2014 at 07:57
37 posts
GBLab posted:
Fully agree with @RSTrading and @paddleplus.

The best thing about EAs - they are emotionless. @expert2trade , if you trade successfully manually adhering to a certain system, why don't you ask somebody to encrypt your system into the EA? It would do exactly the same what you do, but 24 hours a day, 5 days a week, and surely without human emotions and errors.

Nevertheless, you always need to remember that "no trading system is guaranteed". This warning relates not to the automated trading systems only, but to the manual systems as well.

Yes I tried that, but I'm scared of spikes and Federal announcements! 😀 They keep going back and forth and render the EAs useless 😁
Yes! with the right skill....its possible to make 40% a day in Forex.
GBL
GBLab
Nov 17 2014 at 11:25
93 posts
expert2trade posted:

Yes I tried that, but I'm scared of spikes and Federal announcements! 😀 They keep going back and forth and render the EAs useless 😁

You can suffer from spikes trading manually exactly the same as using EAs. As for Fed announcements, you can apply news filter based on FFCal and the EA will just not trade before important news releases.

The question is if your manual trading is really the SYSTEM, i.e. does it adhere to certain rules which are always the same, or it is based on intuition. I can assure you that any manual trading system can be programmed. Intuitional trading can be successful for some time, but one day it will bring you a loss, unless you are a kind of financial genius.
expert2trade
Nov 17 2014 at 13:10
37 posts
GBLab posted:
expert2trade posted:

Yes I tried that, but I'm scared of spikes and Federal announcements! 😀 They keep going back and forth and render the EAs useless 😁

You can suffer from spikes trading manually exactly the same as using EAs. As for Fed announcements, you can apply news filter based on FFCal and the EA will just not trade before important news releases.

The question is if your manual trading is really the SYSTEM, i.e. does it adhere to certain rules which are always the same, or it is based on intuition. I can assure you that any manual trading system can be programmed. Intuitional trading can be successful for some time, but one day it will bring you a loss, unless you are a kind of financial genius.

Manual trading for me is a mix of scalping and swing trading. Difficult to get a EA designed on such a mix😄

Most EAs follow strategies that work only under specific conditions. I have yet to see a scalping EA that actually works profits!

Maybe for longer term, swing trading EAs can work.....but again, difficult to predict!
Yes! with the right skill....its possible to make 40% a day in Forex.
GBL
GBLab
Nov 17 2014 at 13:48
93 posts
expert2trade posted:

Manual trading for me is a mix of scalping and swing trading. Difficult to get a EA designed on such a mix😄

Most EAs follow strategies that work only under specific conditions. I have yet to see a scalping EA that actually works profits!

Maybe for longer term, swing trading EAs can work.....but again, difficult to predict!

I do not offer you to find the EA, I'm only trying to explain that if you really have THE SYSTEM, any advanced coder can program it.

What this entire topic is for? To discuss EAs advantages or disadvantages versus manual trading. My vote is for EAs, and these are the reasons:

1) Any manual trading system that adhere to strict rules can be developed into the EA.
2) EA trades emotionless, free of human errors.
3) EA trades 24/5.

However, somebody may find a pleasure in manual trade, trading not for a profit, but mostly for adrenaline.
expert2trade
Nov 17 2014 at 13:55
37 posts
GBLab posted:
expert2trade posted:

Manual trading for me is a mix of scalping and swing trading. Difficult to get a EA designed on such a mix😄

Most EAs follow strategies that work only under specific conditions. I have yet to see a scalping EA that actually works profits!

Maybe for longer term, swing trading EAs can work.....but again, difficult to predict!

I do not offer you to find the EA, I'm only trying to explain that if you really have THE SYSTEM, any advanced coder can program it.

What this entire topic is for? To discuss EAs advantages or disadvantages versus manual trading. My vote is for EAs, and these are the reasons:

1) Any manual trading system that adhere to strict rules can be developed into the EA.
2) EA trades emotionless, free of human errors.
3) EA trades 24/5.

However, somebody may find a pleasure in manual trade, trading not for a profit, but mostly for adrenaline.

Yes thats right.

My system is simple, go with Trend and keep scalping....and if its rangebound, wait to scalp again😄 And if very less liquidity, swing trade accordingly....

I have to customize an EA for that...maybe to have the comfort of relaxing while profits roll in. Need to look for an advanced coder to do the coding....
Yes! with the right skill....its possible to make 40% a day in Forex.
GBL
GBLab
Nov 17 2014 at 15:22
93 posts
expert2trade posted:

My system is simple, go with Trend and keep scalping....and if its rangebound, wait to scalp again😄 And if very less liquidity, swing trade accordingly....

I have to customize an EA for that...maybe to have the comfort of relaxing while profits roll in. Need to look for an advanced coder to do the coding....

This is not the system ... just common words. The system should have entry and exit rules, like this: 'I open long trade when ... and ..., or ... and ...', and so on.

Give me the system - I will code you the EA. But I am not going to waist my time, you would need to ensure that your system really works. Trade it manually for at least three months, then we will see if it worth coding. From what I can see now (https://www.myfxbook.com/members/expert2trade/awesomeprofits/1072944) - it is not.
expert2trade
Nov 18 2014 at 08:01
37 posts
GBLab posted:
expert2trade posted:

My system is simple, go with Trend and keep scalping....and if its rangebound, wait to scalp again😄 And if very less liquidity, swing trade accordingly....

I have to customize an EA for that...maybe to have the comfort of relaxing while profits roll in. Need to look for an advanced coder to do the coding....

This is not the system ... just common words. The system should have entry and exit rules, like this: 'I open long trade when ... and ..., or ... and ...', and so on.

Give me the system - I will code you the EA. But I am not going to waist my time, you would need to ensure that your system really works. Trade it manually for at least three months, then we will see if it worth coding. From what I can see now (https://www.myfxbook.com/members/expert2trade/awesomeprofits/1072944) - it is not.

The system really works, except considering several economic events have been around these last few weeks....otherwise most trades have been good!

Yes I plan to keep the trades going for more than 3 months 😄

I opened this real account after paper trading forex for more than a year! It feels much better trading on a real account.
Yes! with the right skill....its possible to make 40% a day in Forex.
aslan9
Dec 08 2014 at 18:55
28 posts
The best EA I ever used is EA that I made by myself. For a few time I used it for automated trading and then I understood that manual trading with long trades can bring me much profit so I started to trade manually.
MOMAFOREX (FERMONZOR)
Dec 09 2014 at 08:03
135 posts
There is no EA, from my perspective, that works in the long run ... At some point all the traders that uses EA´s will loose their money.... I´ve been managing accounts for several years and the only way to be profitable is trading manual and with a long term perspective... I know that there are a lot of traders that will be against my position but this is my story and this story has been profitable as we speak.... Good luck an beware of those EA´s that claim they will make you rich in 1 month.......
THIS IS A MARATHON, NOT A SPRINT.
vontogr (togr)
Dec 09 2014 at 09:34
4862 posts
RSTrading posted:
EAs are programmed to work exactly like what they are, robots. No emotion. Most of the time they are based on manual strategies.
There are a lot of naysayers (and I am sure a few will voice their opinion)that swear by trading manually.

To each his own. People have different experience with martingale/hedging/EAs etc.

Finding a profitable EA (for the long run) is extremely difficult. Imo owners of such EAs will rather keep it to themselves. I am yet to discover one that doesn't cost an arm and a leg and survive a year or two with backtesting with acceptable dd.

Still I am pursuing this, because I (and I am sure many others) do not have the time to trade manually.

Just my 2c.

I agree.
For manual trading you need defined rules or system what to trade.
IMHO EA will do the same job following the same rules but without emotion. sleeping, etc..
aslan9
Dec 09 2014 at 11:22
28 posts
togr posted:
RSTrading posted:
EAs are programmed to work exactly like what they are, robots. No emotion. Most of the time they are based on manual strategies.
There are a lot of naysayers (and I am sure a few will voice their opinion)that swear by trading manually.

To each his own. People have different experience with martingale/hedging/EAs etc.

Finding a profitable EA (for the long run) is extremely difficult. Imo owners of such EAs will rather keep it to themselves. I am yet to discover one that doesn't cost an arm and a leg and survive a year or two with backtesting with acceptable dd.

Still I am pursuing this, because I (and I am sure many others) do not have the time to trade manually.

Just my 2c.

I agree.
For manual trading you need defined rules or system what to trade.
IMHO EA will do the same job following the same rules but without emotion. sleeping, etc..

But EAs cannot feel the market. For example, can EA predict gaps? And what about an analyze? EAs are just robots. It's a tool. Nothing more.
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