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vontogr (togr)
Sep 11 2015 at 11:08
4862个发言
William82 posted:
Hello,

I am well experienced forex trader, and now my hobby is to search for a stable and profitable automated systems- Expert Advisors. I am here to help everyone, that's why i want to share my knowledge.

Day by day, i hear a lot of horror stories from forex traders, who bought EA's and lost a lot of money..
Mostly they are new comers, so that's why i started thread here 'New Traders', I want that everyone, who even just thinking about to purchase any EA, please, think twice and read my summary about truth of using EA's...


True: There are many EA's that are pure scams.

True: Algorithmic trading by definition, will cease to be an effective strategy once many other people start using it. Further, the algorithm may fail independent of that if the assumptions it is based on change.

True: A lot of people lose a lot of money using cheap, hype marketed, EA's.

False: Everything in the EA world is a scam.

False: No one makes money with an EA. For every loser in a trade there is a gainer, though he may be using a different EA or non at all.

Half Truth: Retail traders can't compete with professionals. True for a lot of reasons, but false in the sense that you shouldn't be trading with a broker that handle professional traders, only other retail traders like yourself.


So all the above being said, here's my advice:

1) If the product looks it's mass marketed, run away.
A lot of EA's vendors also here at myfxbook.com, already banned me from their discussion page... You are asking why? Simple answer, because they are worried, that i will expose their scam...

2) If sounds like an infomercial, run away.

3) If the marketing pitch revolves around how much money OTHER people are making with the EA, run away.


What does that leave:

1) EA's demonstrate a high level of technical understanding AND provide EXPLANATORY evidence describing the what, how, and why of their strategy.

2) EA's that make sense. If you don't understand the strategy of the EA, don't use it.


Last, let me point out that any EA whose strategy in part of whole is based on being 'fast' requires that you get real, professional level hosting for that application. You're not going to be 'fast' running over a broadband connection at your home, no matter how many millions of megabits you think it runs at. Throughput and latency are related but are not the same. Traders need minimal latency, not a million megabits.


Those, that heed this advice are more likely to succeed at the expense of those, that don't heed it.

Thanks for attention!


Best regards,
William






EA is always better than human trading.
Why?
Simply because as trader you have to have trading plan and follow trading rules, right?
EA can do the same without emotions, without sleep and as fast as none person can do

William (William82)
Sep 11 2015 at 12:52
50个发言
Yes, you are right.
But there are still the same questions, if it really works why to sell EA?
I understand about some spare income, but you can sell EA signals or ask create subscription fee - send signals only for subscribers who pay every month. In that way it will be even more profit for vendor. And less risk that someone will stole EA' strategy or source code..
But mostly they are just selling and run a way, because most of them not working in long term..



Let's get down Forex Black Market, expose fake Expert Advisors!
vontogr (togr)
Sep 11 2015 at 12:57
4862个发言
William82 posted:
Yes, you are right.
But there are still the same questions, if it really works why to sell EA?
I understand about some spare income, but you can sell EA signals or ask create subscription fee - send signals only for subscribers who pay every month. In that way it will be even more profit for vendor. And less risk that someone will stole EA' strategy or source code..
But mostly they are just selling and run a way, because most of them not working in long term..




Well that's completely different question.
If you have great EA than of course you protect your property and just let people follow your signal.
If you have shitty EA you make mambo jumbo site and sell copies

Sebast (sebast)
Sep 12 2015 at 02:51
52个发言
Most of the time even if you find a good EA, people will usually put the maximum of risk on it based on the back test they have run. Then one day the market will have change and their account will be blown. Typical scenario of all EAs (scam or not).

Then instead of looking for crazy annual profit per year with one EA, on one pair, on one time frame, why not few EAs, each aiming just 5%/year with minimal risk, on each time frame and on each currency pair...

Let's say you have 3 EA/strategies that you want to apply on 6 currency pairs and on 2 different time frame (H1 and D1): 3x6x2=36%/year with 5% DD. (the chance that each EA are at their maximum DD at the same time are very little and even if it happen, it's not a big deal)

buy low sell high
William (William82)
Sep 12 2015 at 11:29
50个发言
togr posted:
William82 posted:
Yes, you are right.
But there are still the same questions, if it really works why to sell EA?
I understand about some spare income, but you can sell EA signals or ask create subscription fee - send signals only for subscribers who pay every month. In that way it will be even more profit for vendor. And less risk that someone will stole EA' strategy or source code..
But mostly they are just selling and run a way, because most of them not working in long term..




Well that's completely different question.
If you have great EA than of course you protect your property and just let people follow your signal.
If you have shitty EA you make mambo jumbo site and sell copies


Totally agree with you!
And such mambo jumbo sites are advertised everywhere. ..

Let's get down Forex Black Market, expose fake Expert Advisors!
Ari Goldman (arigoldman)
Sep 12 2015 at 17:58
907个发言
I'm not sure about the whole EA thing... I think i know markets better than a senseless machine. Just my two cents.

FSM (dkilmer)
Sep 13 2015 at 06:00
90个发言
so we agree that a consistently profitable ea would be kept while any non working ea would be sold with no support?


My question is, do people actually DEVELOP and USE EA's??? If they were consistently profitable , how would we know they are used?

I have an extensive programming and development background, and I have studied economics for decade, i am brand new to forex trading ( five months paper trading ) , my question is, can it actually work???? seems to good to be true

Everything in the market is like a fart, if you have to force it, it is probably shit
Sebast (sebast)
Sep 13 2015 at 06:08
52个发言
Yes it works, there is many EA working since more than few years with consistent profit. It's just hard to believe for manual traders which is normal and of course those EAs are not for sale. We are on planet earth not dreamland ;-), why would you sell a profitable EA...

buy low sell high
Vitautas
Sep 14 2015 at 08:37
51个发言
arigoldman posted:
I'm not sure about the whole EA thing... I think i know markets better than a senseless machine. Just my two cents.


You are right. I think if you want to trade trends, you better do it manually. But if you trade retracments in a slow, retracing market, it can be done by an EA.

vontogr (togr)
Sep 14 2015 at 09:47
4862个发言
Vitautas posted:
arigoldman posted:
I'm not sure about the whole EA thing... I think i know markets better than a senseless machine. Just my two cents.


You are right. I think if you want to trade trends, you better do it manually. But if you trade retracments in a slow, retracing market, it can be done by an EA.


Guys!

Its quite opposite for fast moving market you need EA as person i simply not fast enough to react!

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