New to the game

What EA is most reliable?

Hello!
Be careful with EAs, I don't have a lot of experience with them but I think manual trading is best. A lot of them don't work that well.

I agree, first it's better to understand how Forex works and then to trade with EAs.

When picking an expert advisor (EA), do your homework! Check user reviews, look at the EA's past performance, and make sure it suits your trading style

It's a good idea to test and research EAs thoroughly before using them. Look for ones with solid reviews, transparent performance data, and adaptable settings

I don't trust EA, do you think a bot can work better than a human? Especially when there's big fluctuation in the market? I don't think the bot can respond in time when there's big movement.

The best thing to trade, whether with a proprietary trading firm or your personal funds, depends on your knowledge, experience, and risk tolerance. Common assets include stocks, forex, commodities, cryptocurrencies, and options. It's crucial to thoroughly research and understand the market you want to trade, develop a trading strategy, and practice risk management. Additionally, consider seeking advice from financial professionals or mentors before making any trading decisions. Trading can be highly risky, so it's essential to approach it with caution and a well-thought-out plan.

Hii
I am new to myfxbook platform so I want to know that I have a prop firm account, can I connect my prop firm account directly to copy successful traders on myfxbook?

Charlie1999 posted:
What EA is most reliable?

Happy Friday, the most reliable are mixed

Rk29 posted:
Hii
I am new to myfxbook platform so I want to know that I have a prop firm account, can I connect my prop firm account directly to copy successful traders on myfxbook?

That will depend a lot of the rules of your prop firm (if they allow EA trading and such), but mostly I believe you will need to watch for the drawdown to not hit their limit. If you want to DM us, we can discuss in more details what to watch out for and how to proceed.

I strongly advise against relying on EAs. It's crucial to understand the market dynamics thoroughly before considering any automated trading tools. These tools might seem convenient, but without a solid grasp of how the market works, they can lead to unexpected and undesirable outcomes. Focus on building your market knowledge and trading skills first.

Dave_Franco posted:
I strongly advise against relying on EAs. It's crucial to understand the market dynamics thoroughly before considering any automated trading tools. These tools might seem convenient, but without a solid grasp of how the market works, they can lead to unexpected and undesirable outcomes. Focus on building your market knowledge and trading skills first.

Solid advice. Knowing how to trade can also give you insight of when to turn off your EA or how to recuperate big drawdowns

Ea is a black box. You have no idea how it works of what it will be do to your account. You could wake up one day with $0

I agree. Using EA without sufficient knowledge can lead to very high risk. Also, for me, it takes away the fun of trading.

I am using an Expert Advisor called KraitosX and it is very good.