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Expert Advisors for newbie.

sparkertrades
Dec 06 2019 at 12:50
12 posts
Is there ANYPLACE to get honest reviews on EA's? It seems like every site I find is set up to look like an honest review site, but it seems like they are all fronts trying to push specific EA's (which undoubtedly they own an interest in). Can anyone point me toward a real review site, or offer advice on good EA's for a newbie? Thanks.
Pacific Scalp (Alpscalp)
Dec 06 2019 at 14:01
113 posts
There are no real good EA's for sale. The only goal is to make profit from the sales. The best EA's are kept for personal use and Signal services/PAMM etc.. A good chef does not sell his recipies but opens up a restaurant ;-)
rickyb
Dec 07 2019 at 00:18
83 posts
the best place from my experience is mq5 .the best coders in world go there.still have bad share of bad ea;s.but the difference is you can try some for free ; with some limitations. pay monthly or rent.price range is from few dollars to many many thousands.most have real signals from their ea;s verified. and also reviews from peolpe who have joined site.i have spent many thousands buying ea;s from different sites.all turned out useless.even the free eas there which are hundreds of are very good if you set and test different settings.in fact a few i am currently testing are better than ones i have paid up $1000 for.sometimes these coders have good ideas;but lack time and patience to develop more so give away.these always do backtests;but not much forward testing.my tip is try smaller stop losses and change other inputs.there are some gems there.you soon get a sense of which ones hold promise.if buying ask seller questions so you know what you are getting in to.try their free version though;and dont buy unless they have something to test on demo or live with with 0.01 lots. there are plenty there to choose.is buyers market.
Roberto21
Dec 07 2019 at 04:44
364 posts
for newcomers learning is not easy despite of having too many sources including pips school, learning sometimes boning and usually new traders get tempts to start trading without enough knowledge and become fascinated with the way of trading live which may cause laziness and trapped by wishful thinking get rich quickly scheme
Treeny
Dec 08 2019 at 12:45
213 posts
You'll do well to find a profitable EA
sparkertrades
Dec 09 2019 at 17:23
12 posts
Alpscalp posted:
There are no real good EA's for sale. The only goal is to make profit from the sales. The best EA's are kept for personal use and Signal services/PAMM etc.. A good chef does not sell his recipies but opens up a restaurant ;-)

I'm beginning to believe this is the case. Thanks for the advice. Any good suggestions for reliable signal services?
sparkertrades
Dec 09 2019 at 17:24
12 posts
rickyb posted:
the best place from my experience is mq5 .the best coders in world go there.still have bad share of bad ea;s.but the difference is you can try some for free ; with some limitations. pay monthly or rent.price range is from few dollars to many many thousands.most have real signals from their ea;s verified. and also reviews from peolpe who have joined site.i have spent many thousands buying ea;s from different sites.all turned out useless.even the free eas there which are hundreds of are very good if you set and test different settings.in fact a few i am currently testing are better than ones i have paid up $1000 for.sometimes these coders have good ideas;but lack time and patience to develop more so give away.these always do backtests;but not much forward testing.my tip is try smaller stop losses and change other inputs.there are some gems there.you soon get a sense of which ones hold promise.if buying ask seller questions so you know what you are getting in to.try their free version though;and dont buy unless they have something to test on demo or live with with 0.01 lots. there are plenty there to choose.is buyers market.

Thanks for the advice. I had not spent any money yet on an EA, but was considering it. Based on your experience, are there any of the EA's in the MQ5 market that you would recommend?
joneiltrader
Dec 09 2019 at 18:13
10 posts
That's simply not true. There are definitely good EAs out there. I'm using one right now called Traide Ringer and have had a lot of success with it.

It uses a Martingale trading system, so it's important to keep lot sizes small in order to limit risk in big swings, but if you have good risk management the system h as been very profitable for me.

 There is really nothing it it for me other than sharing what's working for me. I don't own the platform and have no financial interest in it, however I'm one of many people using the EA profitably.
MatSwing
forex_trader_[688163]
Dec 10 2019 at 08:24
140 posts
Alpscalp posted:
There are no real good EA's for sale. The only goal is to make profit from the sales. The best EA's are kept for personal use and Signal services/PAMM etc.. A good chef does not sell his recipies but opens up a restaurant ;-)

Agreed. If the EA really can make money, sure the owner will not share it with the public. They just plug it at MQL etc. and earn money from their subscribers.
joneiltrader
Dec 10 2019 at 12:47
10 posts
Nasrul_Swing posted:
Alpscalp posted:
There are no real good EA's for sale. The only goal is to make profit from the sales. The best EA's are kept for personal use and Signal services/PAMM etc.. A good chef does not sell his recipies but opens up a restaurant ;-)

Agreed. If the EA really can make money, sure the owner will not share it with the public. They just plug it at MQL etc. and earn money from their subscribers.

Not true. I'm using an EA and making money with it and I am not the owner of the EA. This is just not an accurate statement.
Roberto21
Dec 12 2019 at 06:47
364 posts
according to me, Forex is just an addiction , so many times i quit on Fx but after passing sometime again have started trading , its a love about this stock market.
Imamul
Dec 12 2019 at 07:19
716 posts
beginners should go through
the school minimum for 2 times including a micro account ,
 its a great combination.
Treeny
Dec 15 2019 at 18:31
213 posts
joneiltrader posted:
Nasrul_Swing posted:
Alpscalp posted:
There are no real good EA's for sale. The only goal is to make profit from the sales. The best EA's are kept for personal use and Signal services/PAMM etc.. A good chef does not sell his recipies but opens up a restaurant ;-)

Agreed. If the EA really can make money, sure the owner will not share it with the public. They just plug it at MQL etc. and earn money from their subscribers.

Not true. I'm using an EA and making money with it and I am not the owner of the EA. This is just not an accurate statement.

How is your EA doing, still winning?
joneiltrader
Dec 16 2019 at 17:13
10 posts
Treeny posted:
joneiltrader posted:
Nasrul_Swing posted:
Alpscalp posted:
There are no real good EA's for sale. The only goal is to make profit from the sales. The best EA's are kept for personal use and Signal services/PAMM etc.. A good chef does not sell his recipies but opens up a restaurant ;-)

Agreed. If the EA really can make money, sure the owner will not share it with the public. They just plug it at MQL etc. and earn money from their subscribers.

Not true. I'm using an EA and making money with it and I am not the owner of the EA. This is just not an accurate statement.

How is your EA doing, still winning?

Yeah, doing very well. Still winning.
MintDice (MintDice)
Dec 17 2019 at 03:25
3 posts
That's probably a very tough ask honestly because there will be too much word play and miscommunication and affiliate marketing and that kind of thing. You'll have to do your own due diligence and a lot of your own personal research.
No gamble no future
MatSwing
forex_trader_[688163]
Dec 17 2019 at 03:53
140 posts
@joneiltrader hopefully, your EA always keeps winning. Good luck on your martingale :)
joneiltrader
Dec 17 2019 at 14:55
10 posts
Nasrul_Swing posted:
@joneiltrader hopefully, your EA always keeps winning. Good luck on your martingale :)

Thanks. Appreciate it even if you're being condescending. I appreciate your commentary.
Professional4X
Dec 17 2019 at 23:13
1189 posts
Don't buy EA or other trading robots.
You won't get rich from them.
Learn to properly trade and focus on Risk Management as your #1 priority.

The difference between a long term profitable trader and a blown account is RISK MANAGEMENT.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
Professional4X
Dec 17 2019 at 23:18
1189 posts
sparkertrades posted:
Is there ANYPLACE to get honest reviews on EA's? It seems like every site I find is set up to look like an honest review site, but it seems like they are all fronts trying to push specific EA's (which undoubtedly they own an interest in). Can anyone point me toward a real review site, or offer advice on good EA's for a newbie? Thanks.

There are NO publically available EA which will work across all market conditions.
There are NO 'Holy Grail' robots that you are going to find for $49.99 or whatever absurd price people are trying to charge for them.

The secret to being profitable for the long term of your trading 'career' is to use EFFECTIVE RISK MANAGEMENT.

The strategy honestly does not matter at all, as long as is generally profitable and is designed to use effective risk management.

Risk Management is as close to the Holy Grail you will find.

Risk Management is the #1 priority to maintaining a profitable account.

The difference between someone who is a long term profitable trader and someone with a blown account is RISK MANAGEMENT.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
pleasingoink
Dec 18 2019 at 11:30
10 posts
I do not understand how risk management can help you be a profitable trader. Sure it can minimise losses but how can this actually help you gain money
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