General question about EA
Nov 10, 2012 at 22:14
991 Visa
12 Replies
Nov 10, 2012 at 22:14
Hi,
Looking at the systems here it seems like the Automatic is what is most popular.
And when one looks at the EA's, they are either all in Demo-mode, variations of Martingale and/or have already collapsed under their system.
So, my question is: Doesn't anyone wanna learn to trade anymore or are everyone just looking at the easiest possible way and leaving the fate of their income in the hands of engineers?
Oh, and does any EA system work in the long run?
Cheers,
Tom
Looking at the systems here it seems like the Automatic is what is most popular.
And when one looks at the EA's, they are either all in Demo-mode, variations of Martingale and/or have already collapsed under their system.
So, my question is: Doesn't anyone wanna learn to trade anymore or are everyone just looking at the easiest possible way and leaving the fate of their income in the hands of engineers?
Oh, and does any EA system work in the long run?
Cheers,
Tom
forex_trader_75987
Medlem sedan May 02, 2012
117 inlägg
Nov 10, 2012 at 23:36
Hello Tom, are you like of use EA's?
Honestly thinking, i think that buy a good signal provider per month could be useful.
Markets are dynamics and sometimes the high volatility causes biggest variations of prices, i don't know if EA will support the needs of one trader.
Att,Igor
Honestly thinking, i think that buy a good signal provider per month could be useful.
Markets are dynamics and sometimes the high volatility causes biggest variations of prices, i don't know if EA will support the needs of one trader.
Att,Igor
Nov 11, 2012 at 13:50
simple Ironman, 90% of EA's don't work in live. If you look at the details of their trades, they are mainly scalpers and a couple pips aren't enough sometimes to even pay the spread ! so ridiculous. When their not scalpers (because if they are they are of no value to me) then once again, they might work for a month, maybe 2 because market conditions are great and designed for the EA to work BUT after that what happens? EA might crash or strategy might not be as profitable as we thought it could !
SO bottom line is : EA's work for certain market conditions, some work very well but are owned by banks or institutions and of course NEVER sold on the internet ^^ . But you have to understand, the EA's who do work are always being coded again and again to adapt to market conditions. Their is no such thing as a robot trading and making money without you monitoring that EA.
SO no need to dream lol EA's are actually quite difficult to be profitable on the long run.. and that is not trading to me :)
SO bottom line is : EA's work for certain market conditions, some work very well but are owned by banks or institutions and of course NEVER sold on the internet ^^ . But you have to understand, the EA's who do work are always being coded again and again to adapt to market conditions. Their is no such thing as a robot trading and making money without you monitoring that EA.
SO no need to dream lol EA's are actually quite difficult to be profitable on the long run.. and that is not trading to me :)
Nov 11, 2012 at 18:33
EA's do have their place. Martingale EA's will make you money if used correctly. Take for example this scenario. Trader 'A' opens an account with $50. Runs a martingale EA at the most riskiest setting. The market is in range mode for approximately two weeks without any significant trend. Trader 'A' withdraws a couple of hundred or so from the account before the account blows up. Is he/she a winner? You decide...
10% month
Nov 11, 2012 at 19:32
You can do that on roulette, before the bank blows. Not really that tricky.
How do you know when 'before the bank blows' is, and how do you continue to do that long term?
And how much would the bot cost in this case? Still ahead after deducting the cost of the bot?
How do you know when 'before the bank blows' is, and how do you continue to do that long term?
And how much would the bot cost in this case? Still ahead after deducting the cost of the bot?
Nov 11, 2012 at 20:30
Very good question each and every one.
Free bots are available if you google for 'free grid ea forex'
here's one
https://www.lifesdream.org/mt4/free/super_money_grid/Super%20Money%20Grid.mq4 (I have no idea how well it works try running run it on demo)
Of course you don't know when the market trends and blows up your account but as the market ranges for 70% of the time you are in with a chance.
Rule number 1,2,3,4,5,6 Fund your account with the smallest amount that the broker will allow!!!!!
Long term? wait for a trend and jump on board and ride it till it dies or practice range trading....
Free bots are available if you google for 'free grid ea forex'
here's one
https://www.lifesdream.org/mt4/free/super_money_grid/Super%20Money%20Grid.mq4 (I have no idea how well it works try running run it on demo)
Of course you don't know when the market trends and blows up your account but as the market ranges for 70% of the time you are in with a chance.
Rule number 1,2,3,4,5,6 Fund your account with the smallest amount that the broker will allow!!!!!
Long term? wait for a trend and jump on board and ride it till it dies or practice range trading....
10% month
Medlem sedan Nov 09, 2012
76 inlägg
Nov 12, 2012 at 06:57
wahjay posted:
simple Ironman, 90% of EA's don't work in live. If you look at the details of their trades, they are mainly scalpers and a couple pips aren't enough sometimes to even pay the spread ! so ridiculous. ...
SO bottom line is : EA's work for certain market conditions, some work very well but are owned by banks or institutions and of course NEVER sold on the internet
I can't agree that 90% of EA don't work at all. They work but because they were written very badly they can't use all the factors. That's about free EA and most of all EA on the internet.
You can get some simple EA with strategy, which is interesting for you, and using it as the ground write your own EA. That's kinda similar to trade with your own strategy but in this way you should write all the conditions. The great advantage of it: you can always modify it as you want because you totally understand your EA.
In my opinion trading with EA is more efficient. But if and only if you write it by yourself.
If you want to end up with a nonaverage net worth, a “learn from someone else” attitude is paramount. Putting your ego aside and admitting that you don’t know it all isn’t easy, but it is the mindset of true winner ----Paul Tudor Jones.
Nov 12, 2012 at 07:03
Thanks, nzkiwi. My question was really about the faith people have in EA's, instead of actually learning the trade.
Long term and waiting for the trend, that is learning. Not just random EA or Martingaling.
:)
Now, an EA that actually won 70% of the time would do fairly well with a limited Martingale, but that's another story. Getting it to win 70% is the tricky part, I suppose.
Long term and waiting for the trend, that is learning. Not just random EA or Martingaling.
:)
Now, an EA that actually won 70% of the time would do fairly well with a limited Martingale, but that's another story. Getting it to win 70% is the tricky part, I suppose.
Medlem sedan Nov 09, 2012
76 inlägg
Nov 12, 2012 at 07:26
Ironman posted:
Now, an EA that actually won 70% of the time would do fairly well with a limited Martingale, but that's another story. Getting it to win 70% is the tricky part, I suppose.
It surely depends on how much is a profit in this 70% of the time and how much you lose the other time...
Anyway using EA is tricky))
If you want to end up with a nonaverage net worth, a “learn from someone else” attitude is paramount. Putting your ego aside and admitting that you don’t know it all isn’t easy, but it is the mindset of true winner ----Paul Tudor Jones.
Medlem sedan Nov 21, 2011
1718 inlägg
Nov 12, 2012 at 09:54
Hi,
To reply to your question: If I built my own EA it's because I have learnt trading fx during the past... even if I'm still learning everyday.
To reply to your question: If I built my own EA it's because I have learnt trading fx during the past... even if I'm still learning everyday.
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