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How you find Reliable Forex Experts?

lassep
Jan 06 2019 at 08:52
6 โพสต์
Hello,

I'm starting this topic in order to understand the logic of finding new experts. I hope that the topic will not be spammed with advertasings of different experts.

For me is difficult to find a good expert.

I tried with google, but found a lot of small websites, who promise good experts. Unfortunately, they all look pretty suspicious - poor website design, no clear ways of contact, no information about the owners, no information about physical offices and etc. I consider them as scam.

Then I checked the for Expert Advisors of MyFXbook. There are many experts, but when I tried to visit the websites of these experts, most of them doesn't exist. They cannot be opened. Again scam or the vendors are bankrupt.

I checked the social networks, forums and etc, but everywhere the situation is the same. Very suspicious websites of the expert vendors, no documentation how to install or use the experts....

I feel powerless to find a supplier who looks good, where he have documentation about the products, clear ways to find the owner of the site and etc normal things.

I wonder, if am I the only one who expect good maded websites from his expert vendor?

Are there colleagues who pay for experts coming from similar anonymous websites?

Professional4X
Jan 06 2019 at 21:02
1189 โพสต์
lassep posted:
Are there colleagues who pay for experts coming from similar anonymous websites?



Don't believe the hype you see on any of 'those' websites selling EA's promising you big returns and some other garbage.

You have to ask yourself a simple question....

If this EA is so awesome and will make MILLIONS of dollars as advertised, why are they selling it for $49.95?

The answer is simple. The EA isn't going to make you millions of dollars. In fact, the people who are selling the EA are the ones making the money.

There is no 'secret' holy grail or some other 'hidden secret EA' for trading.

You just need to learn to properly trade, or build the automated system to work across a wide range of market conditions according to your own specific trading style.


If it looks too good to be true, it's probably a scam! Let the buyer beware.
Nasrul
nasrul_poyo
Jan 07 2019 at 07:27
124 โพสต์
Bro, if you have profitable EA, do you think that you will sell it? Sure, you will not if the EA can generate profit from the trade. It is better for you to try making your own EA. Invest some money to coder to create your EA, but 1st you need to have clear strategy or profitable strategy before you ask for coder to code your own EA.
Actually, you also can check on this myfxbook the EA listed on strategies under systems tab. They put their backtest of the EA. At least, you must look he showed more than 4 years with 99% modelling quality. Mostof them linked with live account. So, you can check on that also.
However, from my experienced, i have developed 1 profitable EA. 5 years backtest with modelling quality 99.9% on 1 pair, it shows very good profit, no margin call. Then, I started to run live with the same setting as backtest, yes, it goes well for 1 year only before my account blown.
Just think this one, forex is not easy money for you to become rich. If EA can make you rich, sure, all of us will just stick to use that EA only.
Good luck

Thechaser
Jan 07 2019 at 07:29
1 โพสต์
yes that's true, there are a lot of scams its difficult to trust, it seems its not easy to find something genuine, l have been scammed twice from experts advisors l found on google, but still l am still looking for a good EA l believe there are good ones out there, you spend your time searching, losing valuable time and money, if l had one was going to share don't lose hope.

CheCheChe
Jan 07 2019 at 13:07
12 โพสต์
Take a look at the reviews section of MyFXBook. There is a section on Expert Advisors. That should be your first stop on finding a food Expert Advisor. I found a couple of good robots that way. I have been using them for months and had solid results

lassep
Jan 08 2019 at 11:41
6 โพสต์
CheCheChe posted:
Take a look at the reviews section of MyFXBook. There is a section on Expert Advisors. That should be your first stop on finding a food Expert Advisor. I found a couple of good robots that way. I have been using them for months and had solid results


As initially wrote, I passed that step. Around 80% of websites of experts listed there doesn't works, doesn't matter that experts have one of the best rattings according MyFXBook. The other 20% of working websites look pretty suspicious - poor website design, no clear ways of contact, no information about the owners, no information about physical offices and etc. I consider them as scam.

Think about the information provided by [b]Professional4X[/b] and [b]Nasrul[/b], consider that proffit can be made two to ways:

1. If you are skilled and have a well-developed own strategy, supported by custom developed experts.

Of course if you have such strategy and software, you will not sell it online.

Or if you wanted to earn more money, you will start own system, then will sell trade copying services to the others.

2. You can follow the good system, proven durring the time.

The guys who sale 'profitable' experts usually are scammers or have temporary good luck at trading.

AmDiab
Jan 09 2019 at 11:07
718 โพสต์
CheCheChe posted:
Take a look at the reviews section of MyFXBook. There is a section on Expert Advisors. That should be your first stop on finding a food Expert Advisor. I found a couple of good robots that way. I have been using them for months and had solid results


Yes, this is very much useful option, since there have so many participants.

Rachel (REB_FX)
Feb 14 2019 at 08:57
51 โพสต์
Good EAs are very hard to find as there are so many bad ones out there it creates a sense of mistrust in many of them.

I use one EA, but this was not through websites etc, but recommendation of a person I trust.
It is still imperative to do your own research, and after observing the product it gave me the trust to get involved.
The USP for the EA was there is no upfront cost and it is performance based fee, which I had not come across before.

There is no guarantees with any EA, and anyone who says otherwise should not be trusted.

parish
Feb 14 2019 at 14:56
58 โพสต์
the only ea that working are the market makers their algo rytmes
but you will never find it on the commercial sides
en its even not posibel to find .
so the best ea is yourself the rest is dreaming for nothing.
you have to know your enemy .
en that are the big central banks
en brokers .
its that simple
so be realistic
the retail traders ea doesnt exist .

LongVision
Feb 14 2019 at 14:56
254 โพสต์
After wasting lots of money on EA purchase but still not find a profitable EA that works on all market condition. In place of the search for a Profitable EA, you should search for a profitable trading strategy then you can trade with that strategy or code it to develop your own EA.
But if you still want to search for EA then you can filter out many EA with the following criteria

1. Scalper EA which has pips expectancy less then 5pips you should not use them because they are very broker sensitive and your most profit will be eaten by slippage & brokerage at the end of the day you will get nothing.

2. Don't use Grid strategy EA because they are counter-Trend EA with no Trading Edge they only work in the range-bound market and wipe out your account during a trending market.

3. Martingale EA these are counter-Trend EA with high-risk money management.


The market will trade through it’s path of least resistance .
BartenderFX
Feb 15 2019 at 13:42
14 โพสต์
EA is Scam

I show an example:

https://www. (some EA) .com website*

You might be, damn! I should buy and let run and become wealthy instantly...
Who doesn't want -1.9% DD and 1892% return!

Than you go on balance tab and see a deposit of 65k, this is to prevent margin call.
You be hmmm, you must have cash flying around and be very certain of your case to do such a deposit.

Than you go on forex peace army, and see the EA history....

balance D-CAP-17579797: USD 50.00 5,000.00
You see that....
Which means......
It is a Cent account!
So person is risking $50 with fancy website, and charges you $199.
Well developer sell 199 x 500 and yes, he/she has made 100k in profits as in selling EA's.

Wonderful business.

Than certain moment sales numbers go down, and a 'new' EA pops up. And you repeat this process.

*I took website out, as I don't like drama and simple don't care if people get scammed anymore!
As retail traders and brokerage industry are a meatgrind, retail newbies lose money but no worry, new newbie is their and this circle continues over and over again. Not to mention social media (instagram), whereby tons of scammers are....
Ask the 'FX mentor' for a myfxbook link, if you desire to buy their service and you will hear a bunch of excuses

parish
Feb 15 2019 at 14:00
58 โพสต์
the problem with retail trading ea is that you are connected to brokers .
en not a direct connection on the interbank like al the great institutes .
en they wil do evrything to make it difficult to make money with your ea
or without..
their weapons are slippage ,spread, swap,freesing platform screen,
counter trading en lowering speed refusing withdrawals etc
en as client you have never no defense
it is always the client's fault
regulated or not thats how it works .
😎

Muscat
Feb 15 2019 at 14:05
11 โพสต์
I tried developing my own EA for years and got no where. Maybe I am just stupid but I now think that all EA don't work. I am focusing on manual trade. I have tried many robot but I had same experience as people in this thread. All EA just wipe out my account

Johnsoncharless
Feb 17 2019 at 07:23
1 โพสต์
Back test, run on a demo first, have a regulated broker, Make your trade size smaller and manage your robots. Look at Rob Booker on youtube, I run his robots and and can see small profits almost every day.

parish
Feb 18 2019 at 07:01
58 โพสต์
the problem with retail trading is that you are connected to brokers .
en not a direct connection on the interbank like al the great institutes .
on demo account en back test it will work your ea but in real life account
they wil do evrything to make it difficult to make money with your ea
or without..their weapons are slippage ,spread, swap,freesing platform screen,
counter trading en lowering speed, stoploss hunting refusing withdrawals ,
psychologic ,smooth talks etc
they do everything to destabilize you no matter how .
they have more info on the market than us.
every positions they know.
these institutions en commercials also provide incorrect information
and strategiestraining etc
with teachers or salesmanagers who work on percent
paid by the trading industry
so knowing who your opponent is a step forwardso
actualy whe are the blind crowd .
or the dumb money.
en they are the smart money because they know
where to send the market .
en as client you have never no defense
it is always the client's fault
regulated or not thats how it works .
en the ea commercials will of course speak en defend ea 'S for their pockets
its that simple
its all about your money not your nice talk or intention
😎

HumbertB
Feb 18 2019 at 11:38
8 โพสต์
The easy way to find reliable forex broker is to find go to the expert advisor reviews on myfxbook. Get the 3 top rated expert advisors and test them out. Surely one of those will be a winner

vontogr (togr)
Feb 18 2019 at 12:03
4862 โพสต์
BartenderFX posted:
EA is Scam

I show an example:

https://www. (some EA) .com website*

You might be, damn! I should buy and let run and become wealthy instantly...
Who doesn't want -1.9% DD and 1892% return!

Than you go on balance tab and see a deposit of 65k, this is to prevent margin call.
You be hmmm, you must have cash flying around and be very certain of your case to do such a deposit.

Than you go on forex peace army, and see the EA history....

balance D-CAP-17579797: USD 50.00 5,000.00
You see that....
Which means......
It is a Cent account!
So person is risking $50 with fancy website, and charges you $199.
Well developer sell 199 x 500 and yes, he/she has made 100k in profits as in selling EA's.

Wonderful business.

Than certain moment sales numbers go down, and a 'new' EA pops up. And you repeat this process.

*I took website out, as I don't like drama and simple don't care if people get scammed anymore!
As retail traders and brokerage industry are a meatgrind, retail newbies lose money but no worry, new newbie is their and this circle continues over and over again. Not to mention social media (instagram), whereby tons of scammers are....
Ask the 'FX mentor' for a myfxbook link, if you desire to buy their service and you will hear a bunch of excuses


Just use common sense
If someone made hundreds thousands of profit with his EA why would such person bother selling that for hundreds of bucks?
Which implies the results are fake and nobody should buy it.

SCR Traders (Pikasso)
Feb 18 2019 at 14:34
174 โพสต์
We do not seek out eas, we create them. )

Trading system developers and strategy providers.
AI Wolf (JamesChiaFx)
Feb 19 2019 at 08:19
10 โพสต์
togr posted:
BartenderFX posted:
EA is Scam

I show an example:

https://www. (some EA) .com website*

You might be, damn! I should buy and let run and become wealthy instantly...
Who doesn't want -1.9% DD and 1892% return!

Than you go on balance tab and see a deposit of 65k, this is to prevent margin call.
You be hmmm, you must have cash flying around and be very certain of your case to do such a deposit.

Than you go on forex peace army, and see the EA history....

balance D-CAP-17579797: USD 50.00 5,000.00
You see that....
Which means......
It is a Cent account!
So person is risking $50 with fancy website, and charges you $199.
Well developer sell 199 x 500 and yes, he/she has made 100k in profits as in selling EA's.

Wonderful business.

Than certain moment sales numbers go down, and a 'new' EA pops up. And you repeat this process.

*I took website out, as I don't like drama and simple don't care if people get scammed anymore!
As retail traders and brokerage industry are a meatgrind, retail newbies lose money but no worry, new newbie is their and this circle continues over and over again. Not to mention social media (instagram), whereby tons of scammers are....
Ask the 'FX mentor' for a myfxbook link, if you desire to buy their service and you will hear a bunch of excuses


Just use common sense
If someone made hundreds thousands of profit with his EA why would such person bother selling that for hundreds of bucks?
Which implies the results are fake and nobody should buy it.


Bingo~

vontogr (togr)
Feb 19 2019 at 11:26
4862 โพสต์
Pikasso posted:
We do not seek out eas, we create them. )


That's right

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