Best EA unbiased truth

[4xpipcounter]

Re: Best EA

Chang, that is what I meant in my previous post. There is no real history. 32% in one year is advertised, yet only 1 month on a demo is the proof.
In addition EA's are backtested under ideal situations, which makes them bad news in real time.
Here's another example. One of the indicators I use is the stochastics. I can show by backtesting, all the pips and winning trades someone can get on any crossover. Put it in real time, and it's another story, because the stochastics lag. Same principle (or lack thereof) in EA's.

Hey Fantastic,

why do you trade with demo account? you should trade with real money account for those kind of return.

Please show me real money results later OK?

Good luck:clap:

 

[lbranjord]

Nicole, because you think someone hates you because of your post is a copout. That comment really disaplaces what the issue really is.
First of all, I have never seen one EA prove itself over the longhaul. The only thing that proves itself over the long run is a methodlogy that win consistently that has been developed through hard work.
Key words, "hard work". An EA caters to get-rich-easy type of schemes-- just turn the thing on, come back a year later, and you're rich. The problem is we have many newbies that can be lured or induced by such irresponsible claims, then they pay their money for a scam like that, thinking they will never have to work again. This kind of thing caters towards people's laziness.
Also, there is no need to sell it, if it is producing the way you say it is. Just invest your money in it, turn your EA on, and then retire fat and sassy. The reason people look to sell it is that nothing has been proven over the long haul. The people selling those EA's are not confident in the personal production thereof.
After saying all that, I'd love to have to eat my words and see proof of any EA that has worked over at least 12 months.

I concur. If you didn't build it, and you can't read code, then you don't know what the f-bomb you're doing. You need to know the dirt on the EA. Then you will know how to optimize when conditions change! What if it's just baiting a certain pair on the open, playing the 95% probability that it will move 5 pips? Then when a loss hits you're wiped out? It's dangerous. Click Modify on the expert advisor and do your best to read it. When you learn MQL, you'll see why many of these EA's are a fallacy and you'll know how to make a good one

Good luck dude

Let me know if you need help, I'll interprate what I can. I like coding more than I like trading-and more than I like spelling...

 

[4xpipcounter]

I might not know anything about programming or the MQL, but to me, it was just common sense, and a lot of experience from being around it so long.
I had a friend (Still is my friend.) in the early part of 2007 declare how he was going to spend $1,800 (that figure may be off a little) on an EA. He was hyped! He told me how they backtested it and proved it beyond any shadow of a doubt the autheniticity of it. I told him the way it gets proven is for it to be forwardtested. I pleaded with him not to buy it. Well. he didn't listen. He also sunk $20,000 of his money into it to start the account. He lost half of it in one month.
Through the eyes of personal bias, it is easy to backtest something and show how wonderful it is.

I concur. If you didn't build it, and you can't read code, then you don't know what the f-bomb you're doing. You need to know the dirt on the EA. Then you will know how to optimize when conditions change! What if it's just baiting a certain pair on the open, playing the 95% probability that it will move 5 pips? Then when a loss hits you're wiped out? It's dangerous. Click Modify on the expert advisor and do your best to read it. When you learn MQL, you'll see why many of these EA's are a fallacy and you'll know how to make a good one

Good luck dude

Let me know if you need help, I'll interprate what I can. I like coding more than I like trading-and more than I like spelling...

 

[lbranjord]

Yeah, forward testing is a must.

 

[lbranjord]

ZEUS FX=garbage.

Short positions (won %) 58 (98.28%) Long positions (won %) 142 (97.89%)

You are not concerned by this? This is a bullsh$$ system. It could be used profitably if you were to cut profits often. But you're risking your account every second it is turned on. Anyone worth their salt could code up a piece of crap like this in one night.

There is virtually no stop loss and it waits for the market to swing around. If it doesn't, you'll be taking it hard-no vaseline.

I'm sure they optimized it for each given year their results show, meaning that you are not seeing the same system for each year. They 'predicted the future', if you can't predict the future, you won't get those results.

I'm done with this one, it's TOTAL BS. Don't buy it and if you did, don't use it.

 

[lbranjord]

No no no, I'm back. Did you notice how their average profit was by only 2-3 pips? That means they are on huge leverage and probably assuming super-low spreads. This is the worst I have ever seen. but then again I don't usually look at these things. OMG, someone should put them down.



EDIT:
This is what an EA looks like that will not crash your account. It is not for sale, because I and others have worked very hard on it. These results would look bad to a sales team. Why buy this when the 'Zeus' scammers have 98% win rate? Read between the lines, EA's can be done, but when they are real, they won't be for sale and they won't look as sparkly.

 

[holdon]

I have this ea on my live account work very good you can run it on as many live account as you like, like to buy it , email me [email protected]

 

[Junior Reid]

If you're into Forex Robot Trading I will recommend you to check the Real Money Accounts Competition at forex-robots.com, there you may find a robot that suits you.

 

[alan5616]

It seems to be an accepted fact that most of the commercially available EAs are loss makers. These robots are appealing because, if, like me, you hate screen watching all day, it' great to just be able to check your charts & trades when you feel like it.

The best idea is to develope a successful manual strategy and then have it coded into an EA, by somebody who knows their stuff. Far better to pay for the EA to be created than risking your account with one of the commercial bots, many of which often accumulate large drawdowns.

 

[playhouse2005]

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..

You are showing 22% profit over 4 years...i.e 5.5% p.a. There is a very simple way to determine how good an EA is and that is by trading against the direction of the movement in an M1 chart but determine the movement in a H4 chart. So if your EA does not crash YOU'RE GOOD to go with it otherwise trash it very quickly.

I have created an EA that works but only makes up to about 40% p.a in ALL MARKET CONDITIONS. You can't make a living out of it but it's good to use in med to long term growth such as superannuation fund.

 

[playhouse2005]

No no no, I'm back. Did you notice how their average profit was by only 2-3 pips? That means they are on huge leverage and probably assuming super-low spreads. This is the worst I have ever seen. but then again I don't usually look at these things. OMG, someone should put them down.



EDIT:
This is what an EA looks like that will not crash your account. It is not for sale, because I and others have worked very hard on it. These results would look bad to a sales team. Why buy this when the 'Zeus' scammers have 98% win rate? Read between the lines, EA's can be done, but when they are real, they won't be for sale and they won't look as sparkly.

Test your EA at the exact time frame you tested it but this time on a 1 min chart going long only and see if it crashes. Then show results to see how good it is. I can then give you two other time frames for you to test and see how good it is and if it can withstand the markets moving rapidly in a given direction.
Results can be manipulated, it is easy to chose a time slot to test and get good results. Thats how people show 100% winning trades lol.

 

[thelazytrader]

Hmmm, I have to say that the cheaper the EA the more likely the product creator is simply just looking to churn their client's accounts...am happy to be proved wrong however

 

[thelazytrader]

Has anyone had long-term success with Fap Turbo?

 

[wkc]

IMHO this whole EA question is pretty simple. If you actually have created one that makes great real money over time you sure as heck wouldn't be lurking around FX forums and why would you sell it? On the other hand, and i believe the motivation of 99% of those who are selling them especially brokers that sell rights to "Black Box systems" is, to quote W.C. Fields, "never give a sucker an even break and never wise up a chump!"