Can you become millionaire through expert advisors?

Dec 30, 2019 at 15:50
4,589 Views
53 Replies
Member Since Nov 06, 2019   3 posts
Dec 30, 2019 at 15:50
Since expert advisors take out the emotion of trading, do you think you can become rich trading with robots?
Get Rich Or Die Crying!
Member Since Nov 06, 2019   3 posts
Dec 30, 2019 at 15:52
And if so, do you trade one currency pair or do you mix it up?
Get Rich Or Die Crying!
Member Since Dec 20, 2019   11 posts
Dec 30, 2019 at 17:02
One EA that really and truly works only on 1 pair will be enough to make serious profit. Problem is finding that EA that really works long term
Member Since Dec 19, 2019   69 posts
Dec 30, 2019 at 18:05
Better to have a portfolio ,signals change in one pair over time ,besides easier to trade Stocks in a Bull market ,plus way better gains .
Strength and honor.
Member Since Oct 23, 2014   83 posts
Dec 30, 2019 at 19:07
i have excellent rewards trading ea first on the 28 major pairs and crosses testing on myfxbook. then hand picking pairs with best results.also take care if possible to have at least 1 currency of each of the big 8 pairs;so you capture any big movements across market.sometimes you can get just 4 pairs that cover them all but not often.trading 1 pair is not good as you get too many slow days.then you end up changing settings to get more trades and lose.
Member Since Nov 06, 2019   3 posts
Dec 31, 2019 at 11:44
Thanks for your answers. I was on the same thought that EA's give you the highest possibility of succeeding since there is no emotion attached. I have developed an EA that I'm continuously optimizing for better results and to dodge disaster.

I'll let you guys know my results. This month I'm up 28% or something.

Thanks for your replies.
Get Rich Or Die Crying!
Member Since Dec 19, 2019   69 posts
Dec 31, 2019 at 13:43
Unless you are going to trade one pair around a major news event like Brexit
As for emotions ,keep risk Low with high reward type trades
Use Long term multi time frames to examine direction.
  
Strength and honor.
Member Since Feb 08, 2019   213 posts
Jan 12, 2020 at 20:34
100MDC posted:
Thanks for your answers. I was on the same thought that EA's give you the highest possibility of succeeding since there is no emotion attached. I have developed an EA that I'm continuously optimizing for better results and to dodge disaster.

I'll let you guys know my results. This month I'm up 28% or something.

Thanks for your replies.

28% is good for one month. The hard bit is maintaining that strike rate
forex_trader_688163
Member Since Feb 28, 2019   140 posts
Jan 13, 2020 at 02:34
Manual or EA does not matter.
Just make sure that, you trade with wise money management, and ready to accept the losses.
I'm using EAs that I make it myself.
One is Eurmas which is trade only at EURUSD and another one is Egymas, which is trade only at EURJPY & GBPJPY.
Both built in with hidden SL.
These EAs were available at MQL5 to be copied.
Member Since Sep 26, 2018   9 posts
Jan 13, 2020 at 16:34
I think that if you find the right EA then you can be millionaire but it will be tough to make it
Member Since Feb 08, 2019   213 posts
Jan 17, 2020 at 20:33
100MDC posted:
Thanks for your answers. I was on the same thought that EA's give you the highest possibility of succeeding since there is no emotion attached. I have developed an EA that I'm continuously optimizing for better results and to dodge disaster.

I'll let you guys know my results. This month I'm up 28% or something.

Thanks for your replies.

How's the EA doing now?
forex_trader_745947
Member Since Jul 08, 2019   57 posts
Jan 17, 2020 at 21:09
It's the only way to be broke
Member Since Feb 08, 2019   213 posts
Jan 31, 2020 at 20:36
The signs aren't good...….
Member Since Jul 01, 2019   30 posts
Feb 19, 2020 at 17:25
Yes, it is very possible to make millions through expert advisors. However, it needs a lot of caution and research to be able to identify the best expert advisor to work with. If you are in a position to analyse charts on your own, it would be better since you'd get the opportunity to acquire the skills as well
JapaneseGroupFx
forex_trader_1153031
Member Since Feb 28, 2020   77 posts
Mar 01, 2020 at 13:16
Treeny posted:
100MDC posted:
Thanks for your answers. I was on the same thought that EA's give you the highest possibility of succeeding since there is no emotion attached. I have developed an EA that I'm continuously optimizing for better results and to dodge disaster.

I'll let you guys know my results. This month I'm up 28% or something.

Thanks for your replies.

28% is good for one month. The hard bit is maintaining that strike rate

Don't try to repeat percentage you made the previous month in the current month, instead keep it natural and you will always succeed.
Member Since Nov 06, 2018   83 posts
Mar 09, 2020 at 18:53
I guess it depends on the system. Any Martingale system - no there is no way that you'll become a millionaire. If you can find an EA that has pin point entries, and accepts losses then yes it's possible.
Member Since May 04, 2019   26 posts
Mar 12, 2020 at 16:57
It seems to me that a lot depends on the initial capital and the time you give yourself to earn, but history knows a lot of cases when people dozens of times increased their welfare through trade. If I didn't think so, I simply wouldn't have been trading.
Member Since May 10, 2019   27 posts
Mar 12, 2020 at 17:00
You just have to really look at things, if you have large capital - then why not, out of 500 thousand dollars to make a million is not so difficult. Out of a thousand dollars, it's debt and hard work. So yes, it's possible...
Member Since Dec 15, 2019   20 posts
Mar 12, 2020 at 17:08
I wouldn't be chasing numbers, I would be looking for stability in the market and constantly achieving results exactly as a percentage of capital. This is what will bring results. And it seems to me that this is the most profitable way in our business.
Member Since Oct 25, 2019   27 posts
Mar 12, 2020 at 17:22
I don't know how to become a millionaire, but I'm definitely convinced that Forex and any other such directions can help to earn a stable income and not for a long time. A lot depends on your training and how actively you trade. This is also a business in its purest form, what kind of restrictions can we talk about?
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