What is considered a great EA? :)

1-5)Since most my EAs trade multipair, backtest is no option. Proper risk management is the key in this case. I m going for 15- 100 $ profit, depending on the acc. size. Minimum monthly avg on single pair trading should be 5% and on multipair 20%

and
6) YES 😀

The best EA is the program that brings the most pips/month.

not in my case..LOL for me is the best EA that bring the most money. U cant buy food with pips😁
BTW my best one loses pips....

i'm talking about the core, money is made on pips

JUNIOR, fx Promak, last night gave me $ 511 ... not bad for a count of 2,000 .. 25% ... in one day ..... wow .... and then nobody believes in the expert .. ... look at my account and I still can not believe it ..... THANK GOD

dacosvan posted:
    JUNIOR, fx Promak, last night gave me $ 511 ... not bad for a count of 2,000 .. 25% ... in one day ..... wow .... and then nobody believes in the expert .. ... look at my account and I still can not believe it ..... THANK GOD

i wouldn't be so happy if i were you, you're obviously over-trading.

you could have lost the 25% instead of gained. how would you feel then after losing 25% of your account in one single day? if for sure wouldn't call it wise money management.

Fulltime247 posted:
    RoboMiner is a great EA that appear to use a 'Hold and Hope' strategy but its a lot smarter than that. It trades the AUDNZD pair. This pair has historically traded within a pretty tight range. So he plays it up and down from the midpoint. If its above the midpoint he sells every X pips and if its below the midpoint he buys every X pips. It always has a drawdown but the trades will eventually close for a profit. Actually after watching the system still make profits during the great 2008 crash - I have no idea what it would take to blow it up. (Maybe the 2nd Coming?) - So YES it does have drawdown and only closes profitable trades but I cant argue with the fact that no matter how long it takes - THE TRADES DO CLOSE IN PROFIT!! - Its the smartest 'Hold and Hoper' I've ever seen.

https://www.4xproject.com/lang/en-us/robot-overview/robots/robominer/
https://www.forexpeacearmy.com/metatrader_expert_advisor/robo_miner_by_forex_gold_mine/demo
https://www.pipcop.com/forums/current-live-robot-reviews/126-forex-goldmine-robominer-robot-review-live-account.html
https://www.forexrobotstest.com/robominer.html

Also StephanusR - I looked at your trades and noticed that you're losing trades when they turn against you 20 pips OR LESS. YOU CANT CLOSE TRADES THAT SOON WITH A EA!! - Market noise will turn almost every trade into a loser. The best a EA can do is put you on the side of probability but the trade must have room to work!! - It took me a long time to realize this. Most EA's need fairly wide stops to work BUT wide stops will give you a high win percentage. Now the EA's job is easier. Collect enough pips to offest the ocassional SL hits. - Manual trader have a much easier job since humans are far better traders than robots (I see your on manual) - I wish you luck but I've never been able to trade profitably by EA with 20-30 pips stops. Bots just ain't that smart. (In fact the successful one I've seen need to win more than 10 trades to cover 1 loss - Scalping 5 pips with a 50 pip SL - [https://tinyurl.com/shocker-ea] - But they do it easily since the wide stop gives them a 94.50% win rate)

Robominer is POS, I have 2 $3000.00 p/l with 2 brokers since OCT 1st and the aud/nzd shows no sign of going down. Donna forex had a 23,000.00 p/l at one time and maybe now it is $14000.00. Stay away from it . It is poison.

robertdbuttst posted:
    who is Robominer ?

Its other name is POS

pc8multifx posted:
    not in my case..LOL for me is the best EA that bring the most money. U cant buy food with pips😁
BTW my best one loses pips....

You look like you have a headache in your pic

Your brain is considered a great EA.

You can be successful trading using pure price action so do not waste this opportunity and start studying before it's to late.

Everyone can be successful, there's no difference between you and the big boys. They're just like you eating and sleeping and shaving. 😁

May god bless you all.

Hello,
here are my responses>>>
1. What % per month should it be averaging? 10-25% per month constant
2. How long should it be forward tested? 2-3 months max.
3. Do you think back tested results are important? no
4. What other factors should we look at before buying an EA? commercial EAs are 95 bad, find 5% good.
5. Are most commercial EAs hyped? all of them or at least 80% of the ones in the market
6. Are you personally doing well using an EA? yes, using non commercial EAs. Here is my link>
<https://www.myfxbook.com/members/donnalife/donnalife/10869>

</quote>

I have been trading robominer or its more configurable GT-Shadow for 14 months now.

It has been profitable in Balance growth for a long time. However the trading ranges on EURCHF and AUDNZD have narrowed so there is not much trades being made. Also the swap cost add up a lot now, so much that the trades can close with a loss. So if you want to trade it I recomend to use Gomarkets the have 7 pip spread and they have swap free accounts. These cost $8 per RTL in commission but it works out cheaper than paying swap.

Robominer gets its monthly growth through balance growth not through equity growth. You must also be able to stomach 50% DD at times. People bitch about this EA when they are in DD have no clue about the concept. Eventually when all trades are closed you can get out. You need to trade this system with money you do not need.

Another thing to be careful about is the changing broker regulations. You do not want 20 open positions to see leverage changed from 1:100 to 1:10

Fortenova,

Had a quick look at how your systems are doing. If they all closed out today you'd have barely made more than inflation rate for the same period. And you're taking all that risk.

Be better to put your money in a bank my friend. You're not making money.

That one has an absolute gain of 10% after 6 months. The another one 6% I think. I work on inflation about 7% per annum ( don't believe what the government tells you). So if you're lucky and the 50% draw down doesn't become 100% and wipe you out, you'd have made 20% and 12% for the year minus that inflation figure.

So 13% growth per annum or 1% with a 50% draw down? So I add those two together and divide by 2 to get the average you're doing 7% per system per annum on average. Below the inflation rate. You're very slowly losing money with a significant risk risk of losing it all very quickly.

Not worth the risk. Put your money in high yielding Money Market account, be better for you.

Oops, may mistake.

I see some are doing better. I looked at the wrong figure. So keep going!

But personally I wouldn't accept a 50% draw down for anything less than 1000% per annum.

The drawdown is needed to trade through the ranges. The same guys at forex goldmine have also developed the forex prospector. Which is basically a martingale system based upon fibionaci sequences. I only has one open trade. So drawdown is a lot less however here you do have losing trades. This system rightly setup can also take the whole range of AUDNZD and provide a return of 50-100% per year. It is best to start this system within 200-300 pips from historic highs or lows. Another benefit is you have only 1 trade open en if regular changes happen you can be out quick.

Good luck with your 1000% per annum you will not get it on large live accounts.

One of the banks did 22000% in a single year on a fx account not so long ago.

Theres' one trader here that's approaching 1000% per annum. It's very possible. Just not probable.

Elkart posted:
    One of the banks did 22000% in a single year on a fx account not so long ago.

Theres' one trader here that's approaching 1000% per annum. It's very possible. Just not probable.

Sure is possible. I mean a bank doing 22000% per annum may sound impossible, but I believe if you can take advantage of not even 50% or ALL market movements (every pip) that is an enormous amount of pips (and money).

One trader here is approaching 1000%? Who - you? (I wanna see!!) :)

Novice here (1-2 years experience with shares, CFDs and forex - FXDD):

1. What % per month should it be averaging? This depends on my account balance. $1000 = perhaps I would want 500% ($5k) per month. $100,000 = perhaps I would only want 50% ($50,000) per month. I understand many people have a perception of greater return equals greater risk, however if you have an EA which manages risk extremely well (trailing stop, money management, etc.) you could definitely achieve very high returns and relatively low risk. I can see this possible.

2. How long should it be forward tested?

LONG ANSWER: By others or you?
A) For other people to test, let them forward test it as much as they like - if they are forward testing on demo, they ain't gonna get very far cause: i) demo results often vary from live results ii) they ain't makin' REAL money are they? (kinda pointless to do that forever - it ain't gonna pay the bills)
B) If someone else has already proven it to work live (with statements and live data, etc.) and if you are comfortable with just taking their word (results), why test it yourself - JUST DO IT! Then again, you never really stop 'testing' it - keeping an eye on it from time-to-time, making sure it is still ticking over.

SHORT ANSWER: forever and a day.

3. Do you think back tested results are important? If I was to rate this out of ten I would say 3/10 - not very important. Why? Because back-testing can vary in results so much depending on what data / criteria / settings, etc are used. They can only provide an indication of how it will perform forwards, but it cannot guarantee that forward results will be the same. I don't bother with back-testing - forward testing is more practical.

4. What other factors should we look at before buying an EA? Buying an EA? Why bother? Many of the EAs that are sold are available for free if you look hard enough on the net. Well, maybe not many, but a few are sold which are not worth buying cause they are free. But if you buy, you can't always trust 'results' from vendors. Look at them, look at what others say about that EA (eg. customer service, problems, performance, etc.) FIRST! Then, buy it and TRY IT because factors such as your broker, your presets, etc. can have a huge impact on EA's performance. If it don't work, get a refund. One EA will work for someone else but may not for you (for whatever reason).

5. Are most commercial EAs hyped? I would say yes. Why? To sell more of course! Why not!? Besides, if an EA don't work very well, they can recoup the cost of development from sales! You need to ask: why sell an EA if it is making the developer good money? A. If it is making good money, the developer would probably not bother selling in the first place (his little secret money spinner). B. And if he decides to sell, why does he need the money? Obviously the EA ain't doing a very good job.

6. Are you personally doing well using an EA? Yes, actually I purchased an EA for AUD$50 and it has surprised me. Considering the price, I am most pleased with the results. I also have a few freebies which I found through scouring forums (forex-tsd, myfxbook, etc) which ain't too bad either. Why did I buy it considering what I said above? Well why not? $50 is not much really - then again $500 isn't either but ... it is! And if you buy you SHOULD always be able to ask for a refund (unless a scam - beware!!).

Hope you appreciate my 10c! 😉

No ea will make so much money consistently. You have to learn to make consistent money , with low drawdown. period!
making 20% a month , with 10% drawdown, consistently can make you a millionarie over the period of 3 years, with no risk involved.
If anyone had a EA that makes 100% a month, why bother selling it! as simple as that!