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How you find Reliable Forex Experts?

AniLorak
Oct 27 2019 at 17:09
920 posts
Adribaasmet posted:
Treeny posted:
You can probably trust the ones that don't charge and don't throw affiliate links at you.....


Basically, most of the scammers start with no expectations but gradually they start to show their real face.


This is why; new traders need to select their trading partner so carefully! And I believe manual trading is always a much better option!

Professional4X
Nov 21 2019 at 10:55
1189 posts
Ognjan posted:
togr posted:
Pikasso posted:
We do not seek out eas, we create them. )


That's right


By extension that means that there are successful EAs out there. Surely one personal has then decided to sell their EA. That is why this thread was started. How can we find those traders that have written a successful EA and are selling it somewhere



Consider this for a moment, Let's say that 'investor x' has spent the last 10 years of their life, working every day on their automated trading system, most days putting in 18 hours a day coding, 7 days a week, testing, coding, testing, coding, testing, etc, etc, etc, EVERYDAY for 10 years.

And then after 10 years of hard work they end up with a system that works across perhaps 75% of all normal market conditions.
But once it's fine tuned, and given enough processing power, it finally makes a consistent profit, with low risk, in an fully autonomous manner. And just for the sake of this discussion, let's also say that the system safely returns back a 10% compounded ROI per week.

With an initial base investment of $10,000.00 USD with a compounding interest of 10% will make the person who owns that system extremely wealthy.

In 52 weeks, they'd have well over 1.5 Million dollars.



After 260 months (5 years), they would have $636,049,369,276,725.00 in their trading account.




Somehow you think you're going to just randomly find someone on the internet that is going to be willing to sell it to you?

There is no amount of money you could offer that person that could entice them to give you a copy.

Attachments:


If it looks too good to be true, it's probably a scam! Let the buyer beware.
Professional4X
Nov 22 2019 at 01:56
1189 posts
I need to fix a typo in my previous post.


After 260 months (5 years), they would have $636,049,369,276,725.00 in their trading account.


That is incorrect.

That should have read:

After 260 WEEKS (5 years), they would have $636,049,369,276,725.00 in their trading account.


Weeks not Months, sorry about the typo.
I apologize for any confusion this might have caused.

If it looks too good to be true, it's probably a scam! Let the buyer beware.
killerrj8
Nov 23 2019 at 14:29
8 posts
Probably not going to happen, since there is only so much liquidity and only so much lots that you can trade.
So no. They won't have $636,049,369,276,725.00 in their account.

Professional4X
Nov 23 2019 at 23:26
1189 posts
killerrj8 posted:
Probably not going to happen, since there is only so much liquidity and only so much lots that you can trade.
So no. They won't have $636,049,369,276,725.00 in their account.


It was a hypothetical scenario to make a point. I was pretty clear about that.

They will keep it to themselves, and not tell people about it nor would it ever be offered for sale to the general public.

Also, if a person is smart enough to build this kind of system, they're also smart enough to know NOT to try and extract out $636,049,369,276,725.00 of the markets into a single trading account. They would run it intermittently so as not to attract too much attention to themselves.

There is simply no amount of money you could offer, that would be enough to entice that person to sell it to you. They would have no need for your money.



If it looks too good to be true, it's probably a scam! Let the buyer beware.
rscr
Nov 24 2019 at 04:16
7 posts
HaHa!!! Great on paper but absolutely not possible. Market can not support that volume of compounding.

Professional4X
Nov 24 2019 at 06:05
1189 posts
rscr posted:
HaHa!!! Great on paper but absolutely not possible. Market can not support that volume of compounding.


It was a hypothetical scenario. I was pretty clear about.

The general discussion was in regard to someone trying to buy a system that so they could make money

Of course I don't actually think you could suddenly pull that much into a single trading account at those levels.

That wasn't really the point to it.

My point was 'IF' someone owned a system that was that powerful enough to make themselves wealthy, they certainly wouldn't tell anyone about it, and there is no amount of money that anyone could use to entice the programmer to sell it to them. They would have absolutely no need incentive to let anyone else have a copy of it. Why would they ever risk that kind of exposure? They simply wouldn't.



If it looks too good to be true, it's probably a scam! Let the buyer beware.
saturdayresearch
Nov 25 2019 at 13:13
9 posts
I see this thread as more of an incentive to work harder on my own strategy now!!! If I could get something half as good then it would be more than good enough to give me an income

Professional4X
Nov 25 2019 at 22:31
1189 posts
saturdayresearch posted:
I see this thread as more of an incentive to work harder on my own strategy now!!! If I could get something half as good then it would be more than good enough to give me an income


EXACTLY RIGHT! :)

Focus on risk management as the #1 priority, build tools optimized to assist with the management, and over time build those tools up to create an automated trading system.

Risk Management
Money Management
Automate where reasonable and realistic to do so
High probability market entry points
Reasonable and realistic stoploss targets
Reasonable and realistic takeprofit targets

One thing to consider is this, rather than trying to build a fully autonomous system immediately.
I've found in my own experience that building the individual items of highest priority would be more beneficial initially, rather than trying to do it all at once.

For example, perhaps an investor will create the individual ticket entry manually, but then once the ticket is in the basket, a trade management system (bot, script, whatever...) will watch over the basket and adjust the Stoploss to break even as soon as possible, before opening the next ticket in the basket.

This is just my opinion and it's just how I personally trade, but I think it's a good rule to consider Risk Management as the #1 priority.

Effective risk management is as close to the Holy Grail of trading as I have found.

If it looks too good to be true, it's probably a scam! Let the buyer beware.
Professional4X
Nov 25 2019 at 22:35
1189 posts
Treeny posted:
You can probably trust the ones that don't charge and don't throw affiliate links at you.....


Focus on risk management. That's the difference between profits and having a blown account.

If it looks too good to be true, it's probably a scam! Let the buyer beware.
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