Hyawatta trader's profile

I actually started several years ago by investing into High Yield Investment Programs. Many of those programs paid out in eGold and claimed that their returns came from investing in the forex market. I had some successes, and was even able to profit from my investment into the Pure Investor program. After realizing that these investments could never sustain themselves indefinitely, I decided to go directly to the source and trade in the forex market myself.

I have spent a great deal of time using EA’s. I started with Forex AutoPilot and Forex Funnel. From there, I learned how difficult it is to adjust settings and configure scalping EA’s to be profitable; I learned the dangers of martingale EA’s; and I discovered, while using Forex MegaDroid, that conservative money management allowed my account to continue trading even while going through periods of losses. After adding FAPTurbo to my portfolio, I have been able to see positive, yet slow growth in my accounts.

A new generation of EA’s showed me that there are more profitable ways to trade than just using scalping and martingale techniques, such as break outs and trending. Forex Growth Bot, Forex Combo System, and Volatility Factor seemed to match my preferences better in that the trading style makes a few significant gains while making several small losses, instead of the other way around. The best EA of this type is Forex Trend Detector.

SteadyWinner and SteadyMartinGear use very sound strategies, however their performance doesn't always live up to expectations. Their recovery strategy is good, however they loose to many trades compared to their winners. They may eventually recover, but it tales too long, and you end up experiencing more losses before your wins can effectively recover. They should never blow up an account, but they might not see profits for a very long time, if at all. However, using SteadyWinner and SteadMartinGear on larger accounts will allow you to more easily ride out the drawndown. Having a bigger discrepancy between the normal trades and the testing trades allows these EA's to better recover more than they lose.

I have pretty much come full circle back to martingale by using PipStrider III, however the risks are well known and techniques have been applied to mitigate those risks so that the benefits can still be achieved without blowing up the account. If you have about $500 to invest or are new to forex trading and want to use an EA that will not put your investment in great risk, I suggest using Forex Trend Detector. If you have about $5,000 to invest or plan to be in the forex market for a long time, I suggest using PipStrider III. Wallstreet Recovery Pro Evolution has a recovery strategy that provides similar results to PipStrider III, therefore I would also recommend it for larger accounts. I believe that these are, arguably, the best EA’s available today in terms of risk-to-profitability and value.