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Facts and Myths bout Expert Advisors

William (William82)
Sep 17 2015 at 13:45
50 Posts
Vitautas posted:
arigoldman posted:
I'm not sure about the whole EA thing... I think i know markets better than a senseless machine. Just my two cents.


You are right. I think if you want to trade trends, you better do it manually. But if you trade retracments in a slow, retracing market, it can be done by an EA.


There are no problems for EA to trade also trends...
All depends what is EA main idea.. Some will work better when there are strong trend, some will work with pairs which are ranging..

Let's get down Forex Black Market, expose fake Expert Advisors!
RedRhinoLab
Sep 21 2015 at 10:01
631 Posts
Valid points William!

Why sell an EA?
Traders look for EA's because it is cheaper than signal service and doesn't require sharing profits from a managed account. This allows the developer to sell a version of the strategy for public awareness. It is easy to drive traffic to your site by selling a system. It is much harder to sell signal services and managed accounts until your branding is complete. @CrazyTrader 100% correct for the reasons I outlined above.

Why systems fail?
Normally the original design of the strategy has poor RR ratio. For example risking 200 pips for 10 pip take profit. You will have plenty of winners but just a few losses will wipe out 40-60 winning trades. That isn't long term survivable system unless you have much patience and a very low risk money management being used.

Does updating really solve the issue?
No, of course not. If your strategy was designed around poor RR, you can not update the parameters and expect a strategy to evolve unless you focus on the weakness of that system ( the RR ratio). By the time you have an updated system that will continue to work, most likely you have a new strategy quite different than the original design. On the other hand, if you truly have a good RR ratio then yes, small optimizations and updates can help to maintain your edge.




Sebast (sebast)
Sep 21 2015 at 10:16
52 Posts
RedRhinoLab posted:

Why systems fail?
Normally the original design of the strategy has poor RR ratio. For example risking 200 pips for 10 pip take profit. You will have plenty of winners but just a few losses will wipe out 40-60 winning trades. That isn't long term survivable system unless you have much patience and a very low risk money management being used.



Is it what happened to your FX viper s accounts?

William (William82)
Dec 02 2015 at 11:43
50 Posts
Hello guys,

I haven't been here for a while, hope that everyone is fine and
that my suggestions really helped someone..


Trade wise and safe!

Regards,
William

Let's get down Forex Black Market, expose fake Expert Advisors!
JenalAripin
Dec 03 2015 at 07:42
10 Posts
Vitautas posted:
arigoldman posted:
I'm not sure about the whole EA thing... I think i know markets better than a senseless machine. Just my two cents.


You are right. I think if you want to trade trends, you better do it manually. But if you trade retracments in a slow, retracing market, it can be done by an EA.


Nah, I prefer to trade manually. Most EAs are works in a certain market condition (unless if you have an ability to reprogram it, you can fix it and make it works in some market situations)

Apip Saepudin (Apipfx)
Dec 04 2015 at 16:06
13 Posts
JenalAripin posted:
Vitautas posted:
arigoldman posted:
I'm not sure about the whole EA thing... I think i know markets better than a senseless machine. Just my two cents.


You are right. I think if you want to trade trends, you better do it manually. But if you trade retracments in a slow, retracing market, it can be done by an EA.


Nah, I prefer to trade manually. Most EAs are works in a certain market condition (unless if you have an ability to reprogram it, you can fix it and make it works in some market situations)


Cuz it would be much better if you trade manually and improve your trading skills more. As long as they never stop learning, they could survive in most market conditions...

Viktory (VictorTous)
Dec 04 2015 at 16:21
107 Posts
William82 posted:
Hello guys,

I haven't been here for a while, hope that everyone is fine and
that my suggestions really helped someone..


Trade wise and safe!

Regards,
William


Welcome back, William! 😄

Patience, focus and self-control to win the game with diligence.
Michael Bai (michaelbai)
Jan 11 2016 at 11:15
33 Posts
I dont know why everyone is so stuck in this search for the holy grail. With the amount of time and money people invest in searching for the right EA they could learn enough to be successful traders of their own. EAs are programs that are reading indicators the same as an individual. The difference is because it is a computer program, it is only good as long as the conditions it was programmed for are good. The moment the market makes a huge change, and it always does, the EA begins to fail. The difference? If you are manually trading you can make corrections, if you are EA trading you might come back to an account that has been stopped out.

Just make sure you find an EA that follows your trading strategy and find ways to minimize your risk. An EA traded on a demo account only, in my opinion is garbage. Why if it is such a successful EA, is the developer afraid to commit REAL funds to the EA? Why should you trust an EA that the person who created it doesn't even trust? Why should you commit funds to an EA that the programmer didn't even commit funds to? And an EA that has too much marketing behind it, likely is a hype making machine rather than a money making machine. Use caution and good sense when choosing the EA to use and dont allow excitement or greed to cloud your good judgement.

Take Challenges Head On
Check Mate
CheckMate3
Jan 13 2016 at 08:03
24 Posts
William82 posted:
Hello,


Half Truth: Retail traders can't compete with professionals. True for a lot of reasons, but false in the sense that you shouldn't be trading with a broker that handle professional traders, only other retail traders like yourself.




Best regards,
William






Hi William,
Would you be kind enough to answer why your statement above should be followed. What is the difference between brokers?

In my opinion, you are not competing against other traders. Both pro and retail traders trade the same prices on their charts regardless of the broker you use. Your statement makes no sense.

Russell

RobotFX (robotfxea)
Jan 28 2016 at 07:59
20 Posts
Good points, William.
Here's my 2 cents.

True: an EA is profitable first of all for the person who designed it, because it reflects the trading style that the trader already masters. The EA is just making trading easier for its owner.
True: (related) one must learn to trade first, then decide whether to buy/use an EA to automate his trades.

In other words, I'm using my own EA which is my Holly Grail. I'm also selling it, if it matters, but I have no guarantees that it will make you any $$$. In fact, you might lose.


“If 90% of the traders are losing their money, do you really want to follow the same rules they do?!”
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