I am pretty new to this site but I am looking to add some EAs to my manual trading. I am finding it quite difficult to sift through all the EA systems out there, so many that are all based on demo or forward tests or just outright fake and fraudulent.
My question is for any traders who know have used or know of a commercial EA that has worked for them on live accounts without being a martingale type strategy??
I would be happy if anyone could point me towards an EA that at least breaks even without taking on massive risk.
Thanks and may your next trade be a profitable one!
Your best bet is to find a solid signal service because no EA is set and forget. Sadly everyone is still searching for. If you are a manual trader than you are already in the right direction. We believe that manual Know How is essential for making a living from trading. This doesn't mean we can't use EA for most of the work. Most profitable traders use EA and that is the reason why I recommned finding the signal service if you want set and forget. For those that are manual traders, you just need a strategy that makes sense to you, then automate it and baby feed it.
Thanks RedRhino. Do you have any signal services that you suggest which might actually deliver the kinds of profit curves they show? Any advice about how to go about weeding out the junk with signal providers? 😄
Most funds that are systematic (i.e. automated strategies) can hire dozens if not hundreds of people to make a 'EA' work.
Think about it 1 minute. Let's say you have a great strategy that works. You're doing 10% per months, or even 5% a month... actually even 20% a year. It has been working for the past year or 2 and you have faith in it.
Why would you want to sell it for 500$-ish ? whereas you could lease it or be hired in a systematic fund and start at 500k a year + bonus ?
It is about Efficiency, maximizing potential returns. Managing money for Fees is from Performance base only while a signal service can provide a consistent monthly bonus even during a negative month. Also being hired to Run your systemic strategy for a fund doesn't work as easily as you think. Just look into the Jobs for Quants here - https://www.automatedtrader.net/jobs.xhtm - You either Black Box it and Manage $ or show your Skills to a Fund and hope that you get their attention with your resume ( not always your strategy is good enough).
There is nothing wrong with offering signals or publicize your Strategy development.
For example, look at Forex Growth Bot, they could have pleased everyone by updating their products; stay on top of support and keep development rolling. FGB client base would continue to grow exponentially, Instead they come out with a New Name that no one knows or trusts. Their back at Square 1 with disappointed customers from FGB that got the short end of the stick.
An increase in capital flow would normally lead to more development and better products over time. Sadly, we see the other way around in the FX industry. Maybe that makes sense to some of you.
@Bturner87 These websites do the hard work for you. LiveForexTrading or ConnectForex And also Myfxbook Autotrade if you use their selected brokers. Getting quality signals is much easilier in 2013 then a few years ago. Also MQl5 has a large database of signal providers that can be easily sorted out and you'll get equal results to theirs.
Better you trade your money with your own technique and system than let them in other people hands. Forex is a hard working business. Not a money rain drop place. You have to study and have many-many experience to be a successful trader in forex world. Always learn and do research until you got your own KEY.
EA is just for game playing at Demo account and for experiment and researching. If there are 'set and forget' EA in the world, then it should not published anywhere and must be a very expensive price. EA's can be a broker's enemy too. So you can imagine the risk and the truth with the published REAL account EA in here.
@RedRhino The problem is that there's so many scams and low-quality signals.
Forget about the hedge fund, why would someone give away signals instead of opening a managed account ?
I'm talking about a real managed account, where you don't manage less than 100k€ per clients, and you go to see HNWI, funds of alternative investments, hedge funds etc.
Most professional investors will give you 100k or 250k to 'see' the performances, it's really not that hard to get a first million if you're good. So why would you try to make 1$ a signal instead, I'm not sure I get it.
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