Manual trader interested in the world of Automated Systems
Dec 26, 2011 at 20:38
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11 Replies
Membro Desde Aug 03, 2011
11 postagens
Dec 26, 2011 at 20:38
Hi,
I've had quite good success in trading manually (using PA) over the past 2 months.
I want to start to dabble into automated systems (EA).
What is everyones thoughts about EA's? Are they profitable if we run multiple systems at the same time (each systems having a different strategy)?
Opinions much appreciated.
Thanks,
Paul
I've had quite good success in trading manually (using PA) over the past 2 months.
I want to start to dabble into automated systems (EA).
What is everyones thoughts about EA's? Are they profitable if we run multiple systems at the same time (each systems having a different strategy)?
Opinions much appreciated.
Thanks,
Paul
Membro Desde Nov 15, 2011
61 postagens
Dec 30, 2011 at 13:33
Hi Paul,
Warning: be careful. We've tested over 150 commercial EA's, and over over 100 free EA's. Most are scams/crap, or only work on demo accounts. Less than 10 of all those EA's actually passed our most rigorous testing.
Then firstly: I recommend you learn about Tick Testing: https://www.eareview.net/tick-data
With that you can visually test an EA on a realistic spread (double your broker's spread to take slippage and execution speed into account).
Secondly, if you do buy one, run it on demo for a while, and try buying those through clickbank or other reputable payment gateways that will give you your money back if it is a scam.
Third: try to avoid martingale EA's, there might be a few that haven't crashed yet, but 99% of them crash at some point. Also be careful with grid trading EA's, most EA's that call themselves grid EA's are actually martingale.
Four: really, the best thing to do is formalize your manual trading rules. Figure out how and when you trade, and why. Write it down, and program an EA to follow those rules to the letter, then test it on tick data (We've done this with at least 50 strategies). If you don't want to learn MQL, google Steve Hopwood, he programs EA's for free publicly, or privately for 100$, and he's good at it.
Hope that helps!
Cheers,
LiquidityFX
Warning: be careful. We've tested over 150 commercial EA's, and over over 100 free EA's. Most are scams/crap, or only work on demo accounts. Less than 10 of all those EA's actually passed our most rigorous testing.
Then firstly: I recommend you learn about Tick Testing: https://www.eareview.net/tick-data
With that you can visually test an EA on a realistic spread (double your broker's spread to take slippage and execution speed into account).
Secondly, if you do buy one, run it on demo for a while, and try buying those through clickbank or other reputable payment gateways that will give you your money back if it is a scam.
Third: try to avoid martingale EA's, there might be a few that haven't crashed yet, but 99% of them crash at some point. Also be careful with grid trading EA's, most EA's that call themselves grid EA's are actually martingale.
Four: really, the best thing to do is formalize your manual trading rules. Figure out how and when you trade, and why. Write it down, and program an EA to follow those rules to the letter, then test it on tick data (We've done this with at least 50 strategies). If you don't want to learn MQL, google Steve Hopwood, he programs EA's for free publicly, or privately for 100$, and he's good at it.
Hope that helps!
Cheers,
LiquidityFX
When you fall you learn, then you get up and you try again until you master it.
Membro Desde Mar 22, 2010
52 postagens
Jan 03, 2012 at 05:40
Hi sir liquidityfx im glad somebody emailed me today and was able to check this thread. by any chance do you make ea for free too? i have an unfinished ea here. a friend forumer here from argentina started this but wasnt able to finish, i dont know the reason why. many thanks sir. will do a google on sir steve too. happy new yr.
God is great all the time
Membro Desde Aug 29, 2011
63 postagens
Jan 03, 2012 at 07:18
Personally i think your better off trading manual nothing can beat the human brain its sharper and faster than an ea and can take other fundamental situations into account. remain successful keep trading manual
You will never go broke by taking profits
Membro Desde Mar 22, 2010
52 postagens
Jan 03, 2012 at 08:01
i agree sir forexmaxims.com, problem is emotions, time differential specially im in asia. for the past 11 yrs or so, i keep on making the same mistake again. when im on a roll/ winning streak, i tend to get bolder and forgot my discipline of maintaining proper position management. i can easily double my capital less than a month on honest to goodness strict discipline. then there's this one sick attitude i got, i wanted ALL my bets on the green, meaning my hit ratio is like > 90%. i do cut if my losses are minimal (when strict discipline was implemented). however when i do big trades and trades went against me, i held to that loss, specially when my port is way above. its like i let my losses run and tupidity sets in right away by doing averaging down. then there's psychological feeling of helplessness thinking i stay awake til 3am just to trade the US session, all the long hours in waiting for the nice trading set up went into waste. its like your whole body floats and the feeling of tiredness sets in. fortunately all these years, i still have my sanity to play safe and thats one aspect in me as a trader that keeps me still on the game. when unrealized losses slice tru my profit pie, i set a 'time out' mentality by closing all positions, withdraw my funds plus a little profit then rest til im psychological and physically fit again to trade.
God is great all the time
forex_trader_43716
Membro Desde Aug 06, 2011
345 postagens
Jan 04, 2012 at 06:22
The problem with EA's is their lack of human intuition. I have programmed successful manual trading systems only to see them fail as an EA. The reason? A robot simply follows a strict set of instructions and will enter / exit positions when those instructions are met, whereas us humans employ common sense. A robot would sail straight through a set of green traffic lights regardless, but what if there were a rolled-over truck blocking the intersection? You and I would stop without having to think about it, but our robot...
The real solution is to do exactly what LiquidityFX suggests by refining and documenting your manual trading system. Then separate functions into two groups: (1) those that can be automated, i.e. lot size, stops, trade alerts, and (2) those that should remain manual, i.e. actual entry and exit. Have a programmer code your automated functions, but continue to use your own intuition for market entry / exit.
The real solution is to do exactly what LiquidityFX suggests by refining and documenting your manual trading system. Then separate functions into two groups: (1) those that can be automated, i.e. lot size, stops, trade alerts, and (2) those that should remain manual, i.e. actual entry and exit. Have a programmer code your automated functions, but continue to use your own intuition for market entry / exit.
forex_trader_36599
Membro Desde May 13, 2011
1341 postagens
Jan 08, 2012 at 19:04
'I've had quite good success in trading manually (using PA) over the past 2 months.'
2 months of manual trading success does not mean any thing. Any EA even random order entry can success that period. you should test it for more and see the result.
2 months of manual trading success does not mean any thing. Any EA even random order entry can success that period. you should test it for more and see the result.
Membro Desde Jan 06, 2012
6 postagens
Jan 09, 2012 at 07:10
I will go for manual trading
Membro Desde Mar 22, 2010
52 postagens
Jan 10, 2012 at 17:39
i guess there will be pros and cons. reason why i need it to automate is that it will help 'watch' most pairs. we can do execution manually. ea will notify what pairs meet the parameters. also say i want to take a bath, or go to the office but pair is still trending. so instead of placing a trail, activating ea will act as trail. sort like that. biggest mistakes i have is that when im so tired like right now 1:38am here and need to wake up 6am, work is 8am. so instead of waiting for the signal to sell my position, ea will do it for me once parameters got hit. thx
God is great all the time
Membro Desde Mar 22, 2010
52 postagens
Jan 10, 2012 at 17:46
here's some old charts that i log on my blog, the need to have an ea as i cant monitor all pairs
https://spyfrat.wordpress.com/page/8/
https://spyfrat.wordpress.com/page/8/
God is great all the time
Membro Desde Jan 05, 2012
25 postagens
Jan 11, 2012 at 12:00
sharpforex posted:
The problem with EA's is their lack of human intuition. I have programmed successful manual trading systems only to see them fail as an EA. The reason? A robot simply follows a strict set of instructions and will enter / exit positions when those instructions are met, whereas us humans employ common sense. A robot would sail straight through a set of green traffic lights regardless, but what if there were a rolled-over truck blocking the intersection? You and I would stop without having to think about it, but our robot...
The real solution is to do exactly what LiquidityFX suggests by refining and documenting your manual trading system. Then separate functions into two groups: (1) those that can be automated, i.e. lot size, stops, trade alerts, and (2) those that should remain manual, i.e. actual entry and exit. Have a programmer code your automated functions, but continue to use your own intuition for market entry / exit.
Great advice sharpforex, especially the manual part about actual entry and exit. Thumbs up!
Let the market come to you
Membro Desde Dec 12, 2011
19 postagens
Jan 11, 2012 at 17:23
Manual? This result from 1 month manual trade.
Abs. Gain: +396.28%
Balance: $49628.10
Equity: (100.00%) $49628.10
Highest: (Jan 11) $49628.10
Profit: $39628.10
Deposits: $10000.00
Abs. Gain: +396.28%
Balance: $49628.10
Equity: (100.00%) $49628.10
Highest: (Jan 11) $49628.10
Profit: $39628.10
Deposits: $10000.00
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