Expert Advisors for newbie.

Is there ANYPLACE to get honest reviews on EA's? It seems like every site I find is set up to look like an honest review site, but it seems like they are all fronts trying to push specific EA's (which undoubtedly they own an interest in). Can anyone point me toward a real review site, or offer advice on good EA's for a newbie? Thanks.

There are no real good EA's for sale. The only goal is to make profit from the sales. The best EA's are kept for personal use and Signal services/PAMM etc.. A good chef does not sell his recipies but opens up a restaurant ;-)

the best place from my experience is mq5 .the best coders in world go there.still have bad share of bad ea;s.but the difference is you can try some for free ; with some limitations. pay monthly or rent.price range is from few dollars to many many thousands.most have real signals from their ea;s verified. and also reviews from peolpe who have joined site.i have spent many thousands buying ea;s from different sites.all turned out useless.even the free eas there which are hundreds of are very good if you set and test different settings.in fact a few i am currently testing are better than ones i have paid up $1000 for.sometimes these coders have good ideas;but lack time and patience to develop more so give away.these always do backtests;but not much forward testing.my tip is try smaller stop losses and change other inputs.there are some gems there.you soon get a sense of which ones hold promise.if buying ask seller questions so you know what you are getting in to.try their free version though;and dont buy unless they have something to test on demo or live with with 0.01 lots. there are plenty there to choose.is buyers market.

You'll do well to find a profitable EA

Alpscalp posted:
There are no real good EA's for sale. The only goal is to make profit from the sales. The best EA's are kept for personal use and Signal services/PAMM etc.. A good chef does not sell his recipies but opens up a restaurant ;-)

I'm beginning to believe this is the case. Thanks for the advice. Any good suggestions for reliable signal services?

rickyb posted:
the best place from my experience is mq5 .the best coders in world go there.still have bad share of bad ea;s.but the difference is you can try some for free ; with some limitations. pay monthly or rent.price range is from few dollars to many many thousands.most have real signals from their ea;s verified. and also reviews from peolpe who have joined site.i have spent many thousands buying ea;s from different sites.all turned out useless.even the free eas there which are hundreds of are very good if you set and test different settings.in fact a few i am currently testing are better than ones i have paid up $1000 for.sometimes these coders have good ideas;but lack time and patience to develop more so give away.these always do backtests;but not much forward testing.my tip is try smaller stop losses and change other inputs.there are some gems there.you soon get a sense of which ones hold promise.if buying ask seller questions so you know what you are getting in to.try their free version though;and dont buy unless they have something to test on demo or live with with 0.01 lots. there are plenty there to choose.is buyers market.

Thanks for the advice. I had not spent any money yet on an EA, but was considering it. Based on your experience, are there any of the EA's in the MQ5 market that you would recommend?

That's simply not true. There are definitely good EAs out there. I'm using one right now called Traide Ringer and have had a lot of success with it.

It uses a Martingale trading system, so it's important to keep lot sizes small in order to limit risk in big swings, but if you have good risk management the system h as been very profitable for me.

 There is really nothing it it for me other than sharing what's working for me. I don't own the platform and have no financial interest in it, however I'm one of many people using the EA profitably.

Alpscalp posted:
There are no real good EA's for sale. The only goal is to make profit from the sales. The best EA's are kept for personal use and Signal services/PAMM etc.. A good chef does not sell his recipies but opens up a restaurant ;-)

Agreed. If the EA really can make money, sure the owner will not share it with the public. They just plug it at MQL etc. and earn money from their subscribers.

Nasrul_Swing posted:

Alpscalp posted:
There are no real good EA's for sale. The only goal is to make profit from the sales. The best EA's are kept for personal use and Signal services/PAMM etc.. A good chef does not sell his recipies but opens up a restaurant ;-)

Agreed. If the EA really can make money, sure the owner will not share it with the public. They just plug it at MQL etc. and earn money from their subscribers.

Not true. I'm using an EA and making money with it and I am not the owner of the EA. This is just not an accurate statement.

beginners should go through
the school minimum for 2 times including a micro account ,
 its a great combination.

joneiltrader posted:

Nasrul_Swing posted:

Alpscalp posted:
There are no real good EA's for sale. The only goal is to make profit from the sales. The best EA's are kept for personal use and Signal services/PAMM etc.. A good chef does not sell his recipies but opens up a restaurant ;-)

Agreed. If the EA really can make money, sure the owner will not share it with the public. They just plug it at MQL etc. and earn money from their subscribers.

Not true. I'm using an EA and making money with it and I am not the owner of the EA. This is just not an accurate statement.

How is your EA doing, still winning?

Treeny posted:

joneiltrader posted:

Nasrul_Swing posted:

Alpscalp posted:
There are no real good EA's for sale. The only goal is to make profit from the sales. The best EA's are kept for personal use and Signal services/PAMM etc.. A good chef does not sell his recipies but opens up a restaurant ;-)

Agreed. If the EA really can make money, sure the owner will not share it with the public. They just plug it at MQL etc. and earn money from their subscribers.

Not true. I'm using an EA and making money with it and I am not the owner of the EA. This is just not an accurate statement.

How is your EA doing, still winning?

Yeah, doing very well. Still winning.

That's probably a very tough ask honestly because there will be too much word play and miscommunication and affiliate marketing and that kind of thing. You'll have to do your own due diligence and a lot of your own personal research.

@joneiltrader hopefully, your EA always keeps winning. Good luck on your martingale :)

Nasrul_Swing posted:
@joneiltrader hopefully, your EA always keeps winning. Good luck on your martingale :)

Thanks. Appreciate it even if you're being condescending. I appreciate your commentary.

Don't buy EA or other trading robots.
You won't get rich from them.
Learn to properly trade and focus on Risk Management as your #1 priority.

The difference between a long term profitable trader and a blown account is RISK MANAGEMENT.

sparkertrades posted:
Is there ANYPLACE to get honest reviews on EA's? It seems like every site I find is set up to look like an honest review site, but it seems like they are all fronts trying to push specific EA's (which undoubtedly they own an interest in). Can anyone point me toward a real review site, or offer advice on good EA's for a newbie? Thanks.

There are NO publically available EA which will work across all market conditions.
There are NO 'Holy Grail' robots that you are going to find for $49.99 or whatever absurd price people are trying to charge for them.

The secret to being profitable for the long term of your trading 'career' is to use EFFECTIVE RISK MANAGEMENT.

The strategy honestly does not matter at all, as long as is generally profitable and is designed to use effective risk management.

Risk Management is as close to the Holy Grail you will find.

Risk Management is the #1 priority to maintaining a profitable account.

The difference between someone who is a long term profitable trader and someone with a blown account is RISK MANAGEMENT.

I do not understand how risk management can help you be a profitable trader. Sure it can minimise losses but how can this actually help you gain money

pleasingoink posted:
I do not understand how risk management can help you be a profitable trader. Sure it can minimise losses but how can this actually help you gain money

Let me ask you this ok?

How many times have you experienced a blown out account?
DEMO or LIVE does not matter, what matters is the account was blown.

Now consider WHY those accounts experienced a total loss.

And finally what do you think you could have done differently with those blown accounts, which would have prevented such a massive negative impact on the account?