Do not believe in wasting time and energy on EAs Strictly manual trading based on my own experiance. I would advise all those hunting for holy grail EA to spend that time learning to trade and that skill can never be taken away from you, plus you can adjust to market on a dime.
Start date is misleading (first trade on 12/29/2009) because its an old reactivated account for the purpose of myfxbook statistics but correlates about 97% with my other accounts on platform not supported here.
Not everyone looks for a holy grail EA - I'm looking for several good EA's which should produce a nice diversified portfolio. Also, not everyone have the time for trading - it is much easier to buy an EA then to try to learn how to trade.
I've looked at your system's info, but not much is said there - what tools do you use?
Everyone has the right to do as they like. Getting few decent EAs and letting them run may be a good idea as well. They are just too static for me.
As far as my system there is really no system other then my brain, I try to trade as naked charts as possible. I'll use an RSI to scout for best possible trade setup sometimes and I'll generally trade toward a 200 EMA. Other then that I continually review major pairs and time frames for patterns, a lot of trades are breakouts from consolidations.
I'm with you mate, (btw. I like some of your posts here on fxbook) I love computers and we wouldn't be able to do this without them, I was on the net before AOL was around and no I never had an account with that lame service :)
But I disagree with the fact that fx does not posses particular difficulty for them, IMHO the problem is exactly shit in shit out routine and their inability to think. Every day for the past four years I come across people trying to write that right EA. I mean there are thousands of excellent programmers out there and as many traders if it was not so difficult why has not anyone wrote the right EA yet, I mean the person would be an overnight millionaire just from selling the damn thing.
Everybody has to find what works for them, it took me three years but I think I'm finally getting the right mix/idea but like with any business still much work lies ahead but until I make a couple millions I'm not trusting my $$$ to any software.
Reminds me of that well documented auto landing of an airbus that missed the runway and landed in the trees...yet, today all planes land on auto and I think I feel safer now days knowing that I'm landing on auto.
Just takes time to learn to trust the code.
I trust the computers more than I do myself.
Programmers don't understand fx necessarily. Most people try slap on indicators which is a road to nowhere. It's easy for them to do. Easy does not make the money.
I'm fine with computers doing a lot of things and that is the reason why we create them however, just like I would not want a computer performing a surgery on me I would not trust it with my money at the moment. In surgery and in Forex we generally have an idea of how the thing is build and how to approach it heck, we even have a second by second/step by step plan of what to do. Now, some unexpected event occurs that we didn't think of and we're basicly screwed (actually the guy on the table is). Maybe that moment where my trust issues are resolved will come in the future but for me its not here yet nor do I see it on the horizon.
I'm the other way around I trust myself and have faith in humanity more then in computers which are just a tool that we should use to better ourselves.
My point was that if there was an EA that would work well most of the time most of the market, then the best programmers would come together with the best traders and compile something already but I guess its not so easy.
You're most correct easy does not make the money, and yes I'm sure there are people that make money with EAs but I'm also sure its not as easy as it may seem to most people and those people also have to monitor and adjust those EAs quite frequently.
I don't sell subscriptions, I believe if you're business is trading and you're good at it then you don't need to play around with all this other stuff. I'm planning to be good and with good performance I don't need to waste my time on selling anything. I'm testing running some managed accounts so if anything that will be the way for me to share my results with those interested.
Hi Robert - thanks, let know when you have managed accounts setup....
I think EA are ok for small amounts, at least u don't have to sit in front of computer and its ok for people who are not into it fulltime or in the wrong timezone. For taking advantage of big irregular moves, manual still is better...but it takes a lot of experience for a trader to get there... 😄
My own system, its a collection of best ideas developed from my own experience and from experiences of many other traders found freely throughout the internet sites and forums. There isn't anyone specific but just wanted to thank the whole community for sharing their knowledge and ideas.
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