Day Trading & Forex Forum

willsell

I have been all over the internet trying to find truly unbiased reviews on the best EA's for Forex trading. I'm tired of endless reading that wreaks of affiliate, product promotion, etc.
Where are the real reviews on what EA's truly work?

zupcon

The closest you'll get is one of the sites such as collective 2, and even then you'll only be looking at part of the picture.

The whole concept of evaluation is a can of worms in itself, just look at the distribution in performance that you'll see reported at any forum where people play about testing these things. You have to ask yourself which exactly is the unbiased result, the guy who made 30% per month or the guy who blew the account when they both use the same EA same settings but starting at different times

That scenario happens all of the time, add in a few more variables and the concept of unbiased evaluation kind of goes out of the window, which of course is a perfect smokescreen for vendors to hide behind.

pippero

I develop EAs and tradign systems for clients on request -- one thing I can tell you is that most everybody is looking for trend following systems, which have a barely acceptable performance over the long term. Sometime they hit a home run but the rest of the time they bleed money. Countertrend/mean reverting systems are generally the way to go if you ask me -- especially for forex.

But anyway, automated trading is really best left to market makers . Use your discretion if you can.

willsell

I'm trying to understand why automated trading is best left to market makers. If that were the case then why are you developing EA's for clients

rols

There is a simple answer to this.

Think about it......

__________________
The future ain’t what it used to be. Yogi Berra.

pippero

1) because they ask for it.
2) I work for market makers as well. They call it algo trading and it is based on a totally different model.

Anyway, I was just implying that you can make better money using discretion. You can still make money with trading systems.

here's a screenshot from one of the best EAs I've been commissioned -- thats 4 years of trading.

enjoy..

Attached Thumbnails

 

andre1ja

you should join the group on Facebook "Finding the best Forex Expert Advisor" people buy and review EAs and also post statements on their personal blogs - doesn't get any more unbiased than this

£10kLoser

I've just looked on facebook at 113 posts on FAP turbo. Most of them are just waffle and only about three real money tests showing $7 profit for the week, $37 for one day and some small loss for the third. It strikes me non of them really work and it's just a lucky few that show a profit at that particular time. Some others have huge losses...

I have yet to see a test I've believed that showed a profit over any length of time but I've seen several that have wiped out accounts.