Manual trading or EA??

I always want to try EA to see the result if can get better result than my manual trade.
But after I surfing...like many problem and scam with so many type of EA..

Any comment????

Shar

If you want to do MANUAL trading you better first learn the ropes and gain months if not years of practise trading before risking your hand at forex manual trading. It is a known fact that manual traders (that knows their stuff and have the experience) makes millions more than automated trading robots, but why do you want to do manual if all the trading experience, knowledge etc, everything is already coded into an EA?

When I though I knew enough on how to trade, I tried it once and failed miserably - definately not for me. Have been using robots ever since and never regretted one day of it.

The real problem you already identified - there was a while where every Tom Dick and Harry would release some Forex robot Holy Grail on the market with fake results. These guys hurt the robot market immensely and also cost many people to loose millions.

That is why you should always do the 'Forex Acid Test'- take the robot you just bought and put it on a back test with the default settings as provided, but make the deposit only $500. Now run the test for at least 3 years - if a robot can survive this test, it should not do too bad going forward.

I have bought many robots in the past and most if not all are worthless today - the developers stopped updating their robots and even re-optimising the robot for current times do not provide a steady profit. So far only a select few stood up against the test of time and changing markets.

So test and test and test again before you deploy on a live account. If the tests fail - refund!

Take care

Barry

I have never used robots, but I can understand both sides of the argument. Why don't you try a social trading and follow traders? Personally I execute my own trades, but before you spend money and years buying and testing robots I think it makes more sense to follow traders and see how they perform and then copy them.

   TheLastBear posted:
   I have never used robots, but I can understand both sides of the argument. Why don't you try a social trading and follow traders? Personally I execute my own trades, but before you spend money and years buying and testing robots I think it makes more sense to follow traders and see how they perform and then copy them.

You're right at all 100%

Hi Barry,

Mannual trading are also for me a up down strategy - 'Make good wins one day - loose it all the next day' I never make constant profits on a uptrend thou. It works heavily on my patience and I eat up my nails from my fingers !!!!. I have bought all kinds of training books - dvd's that costs me 1000's of dollars allready. The markets goes up, when I go in for a long, yes offcourse it goes against me 'everytime in a 50pip SL'. I have bought then a couple of robots (best ranked on a couple of websites) Thou some of them placed on different currency pairs and i have backtested them for +- 2 years on each. Some of the robots trade twice a week and some once or twice a day. Even if they dont trade so often, they are all having a > than 80% winning rate. That is what counts on the end of the day !!!!!! to make small constant profits, after a month push the Lot size up with another 0.1. I have now all the robots on my live accounts - when some robots loose, the other makes it up etc.....
Barry, what robots do you suggest are the best ? I have 'Million Dollar Pips' (EURUSD M1), Megadroids latest 'Pipjet' (USDCAD) and 'Instant Forex Profit Robot' (EURUSD M30). All of them has made they money back twice what I have paid for them. If they start fading away after say 6 months. Throw it out and get new updated robots. If the Robots perform and make profits say > $1000 and you have paid $87 for it. You can make the calcs yourself. What the most important thing is - 'Learn from the robots' See why they went into the trade and makes profits !!! I think you can learn a lot from them.

Regards.

Hi johan

Million Dollar Pips on backtest make any other look like they are standing still - unfortunately on a live account it does not perform that well. I am seeing wins and losses but currently there were more losses than wins. I will give it another month to see if it can recover from losses else I am going to switch it off.

MegaDroid is one of those 'true' evergreen robots - the real magic of MegaDroid is the way it recover losses (when it lose and that happens seldomly) - had a long trade opened last night by MegaDroid that resulted in a loss. But I am confident that MegaDroid will recover the loss and more.

PipJet in my opinion is a revised MegaDroid running on USD/CAD instead of EUR/USD. Thus if they used the same code as used in MegaDroid this robot is going to be just as good if not better than MegaDroid - time will tell. So far PipJet made 2 trades last week , both in profit. (I have deployed MegaDroid, PipJet and MDP - all 3 on 1 account! Yikes!)

Forex Envy is one of those strange ones - it works even if it is not very accurate. You will see constant trades being opened and closed 24 x 7 x 5 but somehow there is always more wins than losses. Been running it for over 2 months now and the equity curve is just going one way - UP! Have not back tested this one - deployed directly on a live account and I am more than pleased with it's performance up to now. You actually get 3 licences with your purchase, so I deployed another 2 accounts at the begining of July - now Forex Envy is running on 3 accounts. The vendor have a 110% money back guarantee - my performance so far is 16% for May and 11% for June, both months above 10% per month.

The only 'problem with Forex Envy is that you need a LARGE deposit - this can however be overcome by using a TradeFort USD cents account - (Open a USD cents Flex account here: https://my.tradefort.com/registration?37eedf0) if you deposit $500 and chose the 50% deposito bonus, your account will show $50,000 USD cents + $25,000 USD cents = $75,000 USD cents. I have made $238.95 (23895.62 USD cents) with Forex Envy so far. Thus if all 3 accounts performs the same, I will have at least $500.00 profits into my account every month that increases all the time because of the compounding effect of 10% on 10%.

If you are interested in buying Forex Envy please use this link: https://www.forexenvy.com/ - afterwards just sent support an e-mail stating that you bought on my recommendation (Barry) - they just might pay me a few dollars into my PayPal account :)

The 3rd robot I am using is actually not a robot - more like a trade copier. The vendor claims 40% per month by my performance for June was 25%. If it continues just to give only 20% per month you can actaully think of retiring from your current day job within 3 years! If you want to investigate this further, please use this link: https://1o81o4u.glenridge.revenuewire.net/fx-phantom/homepage - again if you buy this one I might get a few dollars :)

The combination of these 3 robots projected over 3 years will result into me retiring from the rat race.

Last but not least. I have been learning MQL programming and coded my own robot Forex-ID10T using all the things I have seen other robots do. Struggled for over a year just to get my 'recovery code' right. On a backtest it takes $1,000 from 01 January 2012 to 30 June 2012 to a whopping $267,773.59. It even hits the broker limit of 100 lots and if not for that the profits would even be much higher. Sadly the accuracy is only at 43% - this is my next target to get the accuracy up to at least 60% or more. Watch this space as I will deploy it on a demo account one of the days ...

Take care

Barry

Hi Barry,

Thanks for your honesty on the 'Million Dollar Pips' Robot - Like said, I did try live trading thou. I win, then loose and then fight back to get my losses back. It can not carry on like that !!!

I have only one live account with Alpari UK, with a > $23,000.00 deposit placed. Like also said I have 3 Robots running on the same account. Million Dollar Pips are now running for a week and no trades were made at all !!!!!!!. PipJet makes 3 trades a week (still new system) and all are profits so far.

You think I must buy Forex Envy instead of Forex Overdrive ? Please see attached According to https://fxtradingreviews.com Forex Envy are third on the list. I think I am going to give Forex Envy a shot at this. Hahahhahahaha - How many Robots can run on one account ?

Johan.

Only manual😇😂😂😂

Johan

Running more than 1 robot on an account is looking for serious trouble! BUT if you do not have the funds, what can one do? Go for either for high profits or loose everything! (You have a 50/50 chance to either win or loose)

I have downloaded detailed reports of my accounts and here are my results so far:

MDP - $116.00 (3 months: Apr -$159.08 May +$76.68 June -$22.56 Jul -$11.04)
MegaDroid + $32.52 (3 months: Apr +$1.44 May +$26.42 June +$31.76 Jul -$27.10)
PipJet + $18.22 (Less than 1 month: Jun +$18.22 Jul - no trades yet)
Forex Phantom + $268.97 (1 month: Jun +$268.63 Jul +$0.34)
ForexEnvy A +$240.32 (3 months Apr +$14.06 May +$118.77 June +$101.13 Jul +$6.36)
ForexEnvy B +$4.90 (Less than 1 month: Jul +$4.90)
ForexEnvy C +$4.40 (Less than 1 month: Jul +$4.40)

Cumulative I am in the plus + $453.33 since April 2011

On my forward projection until February 2015 Forex Phantom on it's own could result in me getting out of the rat race for good! MDP was supposed to do that, but like I said, currently not doing that well on a live account, so I had to look at alternatives and something that could provide constant profits.

If you want to investigate Forex Phantom further, please use this link:
https://1o81o4u.glenridge.revenuewire.net/fx-phantom/homepage
If you buy this one I might get a few dollars :)

If you are interested in buying Forex Envy please use this link: https://www.forexenvy.com/ - afterwards just sent support an e-mail stating that you bought on my recommendation (Barry) - they just might pay me a few dollars into my PayPal account :)

I really need these extra dollars to open an account to run Forex MegaDroid on its own account!

Take care

Barry

only manual

I vote for an EA! It won't take your time and you'll make money. Manual trading is very hard because you can face all sort of psychological problems. People are emotional but trading should be emotionless. It takes time to learn to trade that way and benefit won't be much bigger than using an EA.

Anyone interested in purchausing a trending and scalping robot for $120.00 or nearest offer. Trade a total of 6 pairs with minimum drawdown.

   tradingmarket posted:
   I vote for an EA! It won't take your time and you'll make money. Manual trading is very hard because you can face all sort of psychological problems. People are emotional but trading should be emotionless. It takes time to learn to trade that way and benefit won't be much bigger than using an EA.

I agree with your statement about trading and that it should be emotionless. I have to disagree with the other part of your response that the benefit will not be much greater learning how to trade and using an EA. In the end, all that matters is that you are satisfied with your results.

   tradingmarket posted:
   I vote for an EA! It won't take your time and you'll make money. Manual trading is very hard because you can face all sort of psychological problems. People are emotional but trading should be emotionless. It takes time to learn to trade that way and benefit won't be much bigger than using an EA.

Show me an EA that has good intuition and can predict changes in sentiment derived from changes in bond yields, CDS spreads, and political statements.

Granted, EA's have their place and can be profitable. Don't misunderstand me, I'm not knocking them. I'm just saying EAs have inherent limitations and that manual trading has a greater potential for profits (and also losses).

I agree that manual trading has greater potential both way and in the end each trader decides what they are willing to accept. Personally I only engage into manual trading.

dlathrop posted:

Show me an EA that has good intuition and can predict changes in sentiment derived from changes in bond yields, CDS spreads, and political statements.

Show me a money manager that can do that .... :0) But with that being said, I also only trade manually, but my system doesn't try to predict the market. We just follow it.

-LK

   lkwong posted:
   

dlathrop posted:

Show me an EA that has good intuition and can predict changes in sentiment derived from changes in bond yields, CDS spreads, and political statements.

Show me a money manager that can do that .... :0) But with that being said, I also only trade manually, but my system doesn't try to predict the market. We just follow it.

-LK

Any normal trader can do that... Whether their predictions are correct more often than not is a separate issue. The point is that EAs can't make trades based on changes in market psychology - humans can.

A non discretionary trading system with explicit entry and exit rules would be best traded automatically as that would provide trading results exactly according to the trading system whereas manual trading can affect it (time on screen limit, human errors, emotional factor).

However, if the trading system is discretionary, or if it is adapted to the market mode (which is again decided by the trader), then obviously it would be best to trade it manually.

In any case, there is no 'better' way to trade as each trader has its own trading system and performance. I would even suggest having both type of trading systems for the sake of diversification, in case on fails, the other one will help to recoup losses and readjust the failing system.