Can you become millionaire through expert advisors?

Since expert advisors take out the emotion of trading, do you think you can become rich trading with robots?

And if so, do you trade one currency pair or do you mix it up?

One EA that really and truly works only on 1 pair will be enough to make serious profit. Problem is finding that EA that really works long term

Better to have a portfolio ,signals change in one pair over time ,besides easier to trade Stocks in a Bull market ,plus way better gains .

i have excellent rewards trading ea first on the 28 major pairs and crosses testing on myfxbook. then hand picking pairs with best results.also take care if possible to have at least 1 currency of each of the big 8 pairs;so you capture any big movements across market.sometimes you can get just 4 pairs that cover them all but not often.trading 1 pair is not good as you get too many slow days.then you end up changing settings to get more trades and lose.

Thanks for your answers. I was on the same thought that EA's give you the highest possibility of succeeding since there is no emotion attached. I have developed an EA that I'm continuously optimizing for better results and to dodge disaster.

I'll let you guys know my results. This month I'm up 28% or something.

Thanks for your replies.

Unless you are going to trade one pair around a major news event like Brexit
As for emotions ,keep risk Low with high reward type trades
Use Long term multi time frames to examine direction.
  

100MDC posted:
Thanks for your answers. I was on the same thought that EA's give you the highest possibility of succeeding since there is no emotion attached. I have developed an EA that I'm continuously optimizing for better results and to dodge disaster.

I'll let you guys know my results. This month I'm up 28% or something.

Thanks for your replies.

28% is good for one month. The hard bit is maintaining that strike rate

Manual or EA does not matter.
Just make sure that, you trade with wise money management, and ready to accept the losses.
I'm using EAs that I make it myself.
One is Eurmas which is trade only at EURUSD and another one is Egymas, which is trade only at EURJPY & GBPJPY.
Both built in with hidden SL.
These EAs were available at MQL5 to be copied.

I think that if you find the right EA then you can be millionaire but it will be tough to make it

100MDC posted:
Thanks for your answers. I was on the same thought that EA's give you the highest possibility of succeeding since there is no emotion attached. I have developed an EA that I'm continuously optimizing for better results and to dodge disaster.

I'll let you guys know my results. This month I'm up 28% or something.

Thanks for your replies.

How's the EA doing now?

It's the only way to be broke

The signs aren't good...….

The resource is useful for beginners and experienced traders.

Yes, it is very possible to make millions through expert advisors. However, it needs a lot of caution and research to be able to identify the best expert advisor to work with. If you are in a position to analyse charts on your own, it would be better since you'd get the opportunity to acquire the skills as well

First, that mentality of becoming a millionaire overnight is what makes people becomed failed traders. This is because you'll spend all your time working towards making profit, instead of struggling to understand the trade. If you fail to get it as you expected, you'll end up being discouraged and saying that forex trading is a scam. In other words, it is possible to make millions through forex trading, whether you use EA or not, but it doesn't come on a silver platter

Treeny posted:

100MDC posted:
Thanks for your answers. I was on the same thought that EA's give you the highest possibility of succeeding since there is no emotion attached. I have developed an EA that I'm continuously optimizing for better results and to dodge disaster.

I'll let you guys know my results. This month I'm up 28% or something.

Thanks for your replies.

28% is good for one month. The hard bit is maintaining that strike rate

Don't try to repeat percentage you made the previous month in the current month, instead keep it natural and you will always succeed.

I guess it depends on the system. Any Martingale system - no there is no way that you'll become a millionaire. If you can find an EA that has pin point entries, and accepts losses then yes it's possible.

It seems to me that a lot depends on the initial capital and the time you give yourself to earn, but history knows a lot of cases when people dozens of times increased their welfare through trade. If I didn't think so, I simply wouldn't have been trading.