Do Robot EA's Work?

[bbmac]

Have a read of the My Journal 2 thread by Travis - here is someone that thought that auto mechanical trading (robots/EA's call it what you will) was a cure all to his problems with patience and discipline in particular and the general psychological attributes that discretionary trading requires - only to see it end in failure beacause of the 'discertionary part of mechanical trading' ie the over optimization of a combination of systems from his total portfolio of automated systems that resulted in an un-expectadly high drawdown that breeched his investors risk/drawdown tolerance and thus ended their participation with it.

G/L

 

[999cjb]

What have you contributed positively to this thread other than saying most ea's are no good except for the one you have? Of your first 3 posts on this thread 2 of them are pimping your wares.

Peter

This is my second day posting to this forum and it is likely to be my last. The software I have shown is not for sale and may never be. I feel you have misinterpreted my actions and motives which is most unfortunate.

I see some of the posts in this thread have been deleted but not before I read them. Together with those that are still visible, I have the impression that this forum is a "closed shop" of hardened manual traders with a very antagonistic approach to outsiders. If this is what the forum moderators and members want, so be it.

With regret, I shall take my "wares" whether for sale or not, expertise and the help I feel I could have given to new traders, elsewhere.

 

[bbmac]

Personally I remain very open minded to EA's / mechanical tradingg, I have just yet to see one (s) that has made consistent net gains over a long period..and I've seen/looked at a lot and know of others who have done the same and indeed traded them only to lose in the end...this is not to say that it cannot be done and to anyone trying to make mechanical trading work..I say good luck.

Unless/Until I can find one (s) that 'works' consistently I will remain a discretionary trader.

 

[megamuel]

That backtest has a 92% drawdown, but there is no drawdown on the chart? Maybe that drawdown is open positions. Is this EA a grid trading EA or a martingale type EA? Either way, 92% is too big a DD for anyone...

 

[999cjb]

That backtest has a 92% drawdown, but there is no drawdown on the chart? Maybe that drawdown is open positions. Is this EA a grid trading EA or a martingale type EA? Either way, 92% is too big a DD for anyone...

There were a number of open positions at one time during the run which is one of the reasons it took so long.

The EA is part grid and part martingale, both strictly controlled so they don't "run away".

I did say I wouldn't run it on a large live account as it is. It is also a work in progress as I am a very conservative trader.

When it has been further improved, I may consider running it at high risk on an account with moderate funding, removing the profits at the end of each week to another account. Alpari UK (no, I have nothing to do with them, I am just a customer) have an online facility enabling you to instantly transfer funds from one of your accounts to another which I think is ideal for this purpose.

 

[shewolf]

There are more vendors than members posting anymore. In another current thread 2 vendors are arguing over indicators

Peter

Yes. Sadly, T2W is becoming the home for EA vendors peddling their useless wares.

When a vendor like 999cjb is proudly trying to sell an EA with a 92% DrawDown and is afraid to open a decent account to trade it, then we must be getting to the bottom of the barrel

 

[999cjb]

Yes. Sadly, T2W is becoming the home for EA vendors peddling their useless wares.

When a vendor like 999cjb is proudly trying to sell an EA with a 92% DrawDown and is afraid to open a decent account to trade it, then we must be getting to the bottom of the barrel

To be a good trader one must first be able to read and comprehend cohesively. This EA is not, and may never be, for sale.

Please show me where I have said I am trying to sell anything on this forum at this time.

 

[natureboy]

I never noticed you say anything about selling anything, I've got a strategy in EL, a couple. I'd be hesitant to post performance stats for discussion now. And these for sure are not for sale, plus they're boobytrapped.

Did I miss something, is 999cjb a known vendor ?

 

[anley]

About 5 years back many of the more successful internet affilate marketers who had been pushing all sorts of different products, found a new Lode of potentially massive profits.

That Lode was called 'retail online FX'.

The brokers paid fortunes in commisions and the Robots were cheap to build and had massive ROI so the marketers got to work. And as others have said 90% of the people pushing robots have never traded or have any interest in the markets, FX robots are just the product. If FX was banned tomorrow they wouldn't worry because they'd all shift to a new product but same sales crap.

So my advice is simple - do business with a professional internet marketer at your peril because to them you're nothing but a mark to be used and skinned for profit.

 

[anley]

Folks, here's a quick and simple lesson for you all.

Anytime you see an equity curve look like that, no ifs and no buts, you're being setup to buy worthless crap.

Or to put it another way, the equity curve is showing you what you want to see, and hence buy. And to put that another way - YOU'RE BEING MARKETED TO......

But if you do buy and when you don't get the results promised then please don't blame the vendor, he's just a scumbag marketer doing his thing. Insterad please look in the mirror for somebody to blame because nobody forced you to buy.....

 

[VendorExterminator]

There were a number of open positions at one time during the run which is one of the reasons it took so long.

The EA is part grid and part martingale, both strictly controlled so they don't "run away".

I did say I wouldn't run it on a large live account as it is. It is also a work in progress as I am a very conservative trader.

When it has been further improved, I may consider running it at high risk on an account with moderate funding, removing the profits at the end of each week to another account. Alpari UK (no, I have nothing to do with them, I am just a customer) have an online facility enabling you to instantly transfer funds from one of your accounts to another which I think is ideal for this purpose.

You're a joke buddy!

 

[pboyles]

Did I miss something, is 999cjb a known vendor ?

To somewhat paraphrase Donald Rumsfeld there are known vendors and there are unknown vendors. Seeing as how this 999 chap has a vendors badge as a software vendor he probably falls into the former category.

 

[pboyles]

To be a good trader one must first be able to read and comprehend cohesively. This EA is not, and may never be, for sale.

Please show me where I have said I am trying to sell anything on this forum at this time.

When will you start then?

 

[999cjb]

Thank you natureboy for your comments. I totally agree that posting stats in this forum seems to make you an immediate target for criticism and abuse, regardless of the truth.

pboyles - I added myself as a vendor because I produce forex software. I could just as well have not bothered but I like to be open and honest, whatever the cost.

VendorExterminator - If honesty is a joke, I think the joke is on you.

anley - I totally agree with your post at 10:09 and totally disagree with your post at 10:18. You can call me what you like but:-

1. I have never been a marketer, just a software developer.
2. I have never sold a robot.
3. I have spent more than 46 years developing software and for the last 4 years have concentrated exclusively on forex software because I no longer need to work for a living.
4. Our software is provided free of charge to a select group of users who assist us with development funding and together we are into forex for the long term. We have never been "out to make a quick buck" because we don't need to.
5. We believe that robots are more suited to long term trading than scalping and this is where our efforts are being concentrated.
6. Over the past few years, we have developed a number of products in the EZE range. EZE050 is development number 50. Of the previous 49 developments, only one is now being run by our users while I am running another five with varying degrees of success. All the others were either total failures or have been discarded and their code incorporated in more advanced developments.

So please don't just brand every vendor as a scammer because I don't think we are the only exception that proves the rule. And don't think all robots are useless either because this is not the case.

I don't know where all this antagonism has come from but if I had to hazard a guess I would say it is because the posters have been bitten hard in the wallet by vendors of other robots. If so, I am sorry for you, it happened to me as well but I was fortunate to recover all my initial invesment with a small profit before the blowup came.

Hopefully, we can go on from here and deal in facts, not venom in the future.

 

[wackypete2]

Hopefully, we can go on from here and deal in facts, not venom in the future.

Let's see what the facts are...

you said:

2. I have never sold a robot.

Your website says: (I bolded some important words)

We think our package offers particularly good value at $25 monthly which includes copies of our latest top performing robots. ... If you would like more information about this package before buying, click "Information" on the menu bar.

So you don't sell robots but you DO sell monthly subscriptions that include free robots.

Peter

 

[advfntrader]

yes...set it up, sit back and become a millionaire...its so easy.....:whistling

Can you guy’s settle an argument for me please, I need a answer to a question from people far more experienced than me. Do robot EA’s really work long term? I’m of the impression that they all have there shelf life and after a while they start to lose, I know you can code them to do anything you want but you cant code common sense, so I say manual trading is always best. What do you think?

 

[999cjb]

That's how we get some of our support funding. I think selling a robot and then saying you'll provide support for free for ever insults the intelligence of consumers.

Members pay what is a token amount monthly. For that they get full support as long as they are a member plus free use of any new robot we release.

In doing extensive development, we incur a lot of expenses such as equipment, network and internet services, power and maintenance etc. This is before you attempt to put a value on our time and expertise.

wackypete2 - you mentioned our website and some of its contents. I did not.

 

[wackypete2]

wackypete2 - you mentioned our website and some of its contents. I did not.

I disagree. I never gave the URL. You put it on display.

Peter

 

[999cjb]

I disagree. I never gave the URL. You put it on display.

Peter

That was a newbie error on my part. I just filled out the registration details as per the form. I have only just noticed that you can click on the "vendor" icon. It was not intentional.

Would everyone think I was being more honest if I removed the "vendor" tag from my profile? (If I can). Or would you perfer to keep rubbishing me?

 

[maxima]

I bet 999cjb is the same clown asking million for his EA a couple of weeks ago. it seems the dude spent his last money for NLP lessons and now washing our brains whith his lukewarm ur1ne