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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.

CrazyTrader (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.
CrazyTrader (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.
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