I open this topic with the concern of whether it will be good or not to use Expert Advisor when you're starting in the world of trading like me. I'd like your sincere opinions.
I believe you will got many opinions for 'good' and similarly for 'bad'. All of them would be based on personal way of trading.
If you do not have experience, I believe would be better for you to use EA, but the difficult moment is how to find out profitable EA with positive mathematical expectation :)
If you do not have experience, I believe would be better for you to use EA, but the difficult moment is how to find out profitable EA with positive mathematical expectation :)
Honestly, I'm a newbie in trading as you are. I did not use EA though I want to try. But how to understand which EA is better and where it can be bought?
Ok here s my experience:
2009 I did my first trades in Marketiva (Broker), without learning and reading anything. I thought I am smart. After 2 weeks demo trading i put 1 k in a real account.
It survived a couple of days...
Stop
2012 my first EA, recommenmded by a friend, a free one. It made good steady profits during a couple of months (over 200%). Then suddenly margin call, account blown up. 3 k loss. This was my first experience with 'Martingale'.
My tip to all newbies: HANDS OFF Martingale EAs! Independly how good or safe they seem to be.
Stop
2014: after a fight in the office with my boss who made me realise that I am nothing more than a little payed slave without any honour or value in the system of modern exploitation (work as employee), I decided to try again with forex.
This time i decided to analyse every EA i wanted to buy, read all the informations, the reviews, do researches in Forexpeacearmy, forexfbi, here, and i bought mostly expensive commercial EAs with the best critics of users and review sites.
I tried more than 15 of them spend a lot of money tu purchase and test them on real accounts.
Result: over 10 k loss.
Stop all EAS.
2016: i decided the best thing in my life: Learn to trade!!
I am still not yet a good trader, but I am slowly recovering my losses.
Mostly with trade-copier services from good traders I found, but also a bit with own trading.
(by the way i also lost some money with trade-copiers of crappy traders!).
Last year was the first year i made profit with forex!
You can see the track records in my profile.
My conclusion:
Hands off EAs if you dont know how to trade.
There is no perfect EA and there is no EA making profit for long term. All EAs are good in some market conditions and bad in others.
Some are better for trendy markets, some are better for volatile markets, ... and so on.
There s no EA that can handle every situation.
If you use a EA you have to know it as if you had coded it yourself and be able to controle it at any time.
2009 I did my first trades in Marketiva (Broker), without learning and reading anything. I thought I am smart. After 2 weeks demo trading i put 1 k in a real account.
It survived a couple of days...
Stop
2012 my first EA, recommenmded by a friend, a free one. It made good steady profits during a couple of months (over 200%). Then suddenly margin call, account blown up. 3 k loss. This was my first experience with 'Martingale'.
My tip to all newbies: HANDS OFF Martingale EAs! Independly how good or safe they seem to be.
Stop
2014: after a fight in the office with my boss who made me realise that I am nothing more than a little payed slave without any honour or value in the system of modern exploitation (work as employee), I decided to try again with forex.
This time i decided to analyse every EA i wanted to buy, read all the informations, the reviews, do researches in Forexpeacearmy, forexfbi, here, and i bought mostly expensive commercial EAs with the best critics of users and review sites.
I tried more than 15 of them spend a lot of money tu purchase and test them on real accounts.
Result: over 10 k loss.
Stop all EAS.
2016: i decided the best thing in my life: Learn to trade!!
I am still not yet a good trader, but I am slowly recovering my losses.
Mostly with trade-copier services from good traders I found, but also a bit with own trading.
(by the way i also lost some money with trade-copiers of crappy traders!).
Last year was the first year i made profit with forex!
You can see the track records in my profile.
My conclusion:
Hands off EAs if you dont know how to trade.
There is no perfect EA and there is no EA making profit for long term. All EAs are good in some market conditions and bad in others.
Some are better for trendy markets, some are better for volatile markets, ... and so on.
There s no EA that can handle every situation.
If you use a EA you have to know it as if you had coded it yourself and be able to controle it at any time.
The differenece between who your are and who you would like to be be is what you do
hola¡ soy novata en esto del mercado forex. hice mi deposito de 100 dolares en la plataforma de iforex . y todos los tutoriales estan muy sencillos pero a la ora de operar no se como hacerlo. lalguien me puede asesorar¿
I have tried EAs and I have had a better outcome than ricki72 . Some are good some are bad but they are so easy to set up and use. I would just get a load of EA and run them on demo for a few months. You will soon find which ones work and which dont
From this market place so many traders fail despite of having powerful trading strategies, because they have no proper money managing plan. the success in Fx depend on money management , so we the traders who are particularly beginners have to emphasis on money managing plan besides acquiring good trading knowledge.
In my opinion one should first learn at least the foundations of technical and fundamental analysis before they begin using an EA.
That is true. Before use EA better to learn a bit first
I agree with the others that EA is helpful as a start. Less manual work - more time for building your strategy.
Accept the loss as experience
I used EAs as a newbie, and I think they were more a hindrance than a help because I understood them so little at the time. But that's just my subjective and individual experience.
Sep 22 2020 at 19:01
Every beginner should start their trading career with a demo account. Because without learning, it is quite tough to survive in this risky market.
If you are a newbie to the forex market and want to use an EA, you can surely go for it. There is no harm in using EA as a newbie just make sure that the EA you are using must be compatible with your trading strategy. So, I would like to suggest you to test the EA first on the demo account if it shows success continue it with the live account.
Sep 23 2020 at 15:21
I totally believe in manual trading, this is how I maximize profits and not Expert Advisory.
Sep 24 2020 at 18:58
If you are new in this market you have to be careful when you are going to choose a broker for you. There are so many fake brokers. So research the market properly and select the best broker for you to trade and make money from this market consistently.
Sep 25 2020 at 04:59
EbonyJones posted:I think he is asking about EA. I can never trade with EA as it can never beat my manual trading.
If you are new in this market you have to be careful when you are going to choose a broker for you. There are so many fake brokers. So research the market properly and select the best broker for you to trade and make money from this market consistently.
Nov 03 2020 at 01:46
If you are a beginner trader, you should gain experience from EA. It takes patience and practice to get an idea of market momentum. A lot of research and information should be collected.
It might be not a wise idea to start off with EAs as you will have little to no understanding on how those work. It is better to start off on manual trading and make your way to understanding the forex trading.
Nov 30 2020 at 07:29
I don’t think beginners should use EAs because you might not be able to sense the situation.
Nov 30 2020 at 09:21
I don't think beginners should be using EA's either. If you don't have enough experience, you have to trust the EA blindly, which is like trusting a complete stranger with your money. You need to be patient and only start trading - whether automated or manual - once you know how to build and test a strategy.
