many people are trading them still. its all about the broker. they both are profitable with a broker like fxcm uk or jadefx. however it is still a crazy risk reward ratio but as long as it keeps winning its profitable. those are not set and forget eas, you have to monitor them and their results and change settings accordingly.
Selling it doesnt bother me because half the products they review have NEGATIVE Profit/Loss. Most of those review sites dont care who wins the race. Why should they? They sell the Winners AND the Losers. Its not like they're hyping a single EA. Buy anyone that you want. If I set up a review site for every EA I could get my hands on I would use affiliate links too. Why not? Its a win/win - I'd be providing a valuable review service and getting paid if you decide to buy BUT would I care which EA was on top. Not Really.
i bought fapturbo when it first came out last year and did really well with it, doubled my account in january and half again in feb..april took back all the profits over a couple of days....it bumped along the bottom and early july i stopped using it, one account a small profit and another a small loss...so i can say from experience don't bother with it. It needs alot of baby sitting.
Boomerang i don't have but have followed some demo sites with interest and alot of temptation,,,,,,, the one that i was curious about is Euroblaster......never been able to make a profit with it....it just seems to go and go round the clock till it blows your account. I have set up euro-blaster turbo in the hope that it may have been refined it...but while being early days it isn't looking good ten days in (since 31/8) 71 closed trades loss of £ 79.15 on a 3k account 7 trades open £624 drawdown...if you can tell me how to set it up to become profitable or how to manage it i'd be most grateful
@ elkart crazy risk reward ratio: you have to win e.g. 6 times to cover up a loss, but as long as it keeps winning almost everytime its not that big problem. the question is when you should stop using it, to know when market changes in a way you cant use it anymore.
@all anyway choose your own ea which fits your trading style! i dont like big floating trades which can margin call you anytime.. so i am pretty much into scalping. get in and out pretty fast for low profit, repeat that often -> steady profit and low drawdown, but if you are hit by a major move you are f*****, but this goes for any strategy. you cant predict _EVERY_ market movement, especially major news events which can wipe your account within few minutes. thats also why its so important to trade with s/l and not risking more than x% at any trade, no matter how sure you are and what your fibos or support/resistance levels tells you. thats why i dont like robominer, dragonpips etc. i am trading a grid system in my second demo account too, but i am just not impressed how its behaves.
guys, stop worrying about automated trading... its no real trading, at least in my eyes... earning morning with trading is not easy and you have to put some effort into it... so try to get some knowledge about forex, try some systems and improve them... just a little hint ;) it feels so much better when you are successfull at your own!!
Cerebro_Trader posted: it feels so much better when you are successfull at your own!!
Agree! You should always think about this: Imagine you would have found a system that makes 25% each month with a drawdown of 10% and this is running great since years. Would you sell it for $100? Would you sell it for $10.000 or even $100.000?
I hope you wouldn't... because with such a system you could make tens of millions by just starting your own hedgefunds or selling managed accounts.
All of those EAs that are available are only marketing projects. Backtests and demotesting is worth nothing... An example of one of my first EAs is attached to this post. The backtest is optimized for a given period, so no wonder it performs well. But will it also perform as good in the future? No, it won't.
An demotesting? Would you invest $10.000 and have an EA reach a drawdown of 50%? Even if it went up 1.000% after that, you would probably have pulled out your money before and will never know.
There is a reason why big hedgefunds have a team of 20 analysts and programmers at their disposal. And they will not run a $100 Metatrader-EA.