Welcome back rich!Is there a forum dedicated to this on here ?
Welcome back rich!
There isn't a bespoke forum dedicated to EAs but, that said, plenty of members are familiar with them and use them - so fire away with your thoughts and questions etc.
I've moved your thread to the most appropriate forum.
I have had a little experience recently with EAs, especially those on MT5.
I tried all the free ones and found next to nothing. The Macd one it comes with is about the best.
So moving on to the paid ones or learning to program. The latter is a very long haul to make a profitable one imho. I tested them in the strategy tester and found one that seemed to make amazing profits, called EA Rosey by Young Ho Seo. Well what with greed pushing strongly I bought it for £550 and funded my account to £1,000 as per instructions. Imagine my grief when on the first day it was still buying when the trade was already down £400. A Martingale system I suppose. I pulled out with that loss and haven't used it since. One can change some variables just a bit but not as much as in the strategy tester.
EAs are as yet probably mostly or even entirely c-r-a-p !! Leave well alone imho
Hi rich (again),Hope someone can advise.
rich do you actually got a system you want to code or are you looking to buy one off the shelf?
if the former than id suggest you carry on running it manually for a year or two if you havent already cos by then toy relaize you dont need no code
if the latter then forget it as aint nobody gonna parcel up for pennies sumthin that gonna make you rich rich
Blimey......doesn't sound good. I'm working on the idea that the automated systems can search out or see the opportunities and set ups, when I can't or don't realise they are forming. Plus they will be strict with respect to the trading rules programmed inside. In other words, the emotion and decision making aspect of trading is done for you!
Sounds great doesn't it......maybe too idealistic? However, on the basis that all the good and professional traders lose trades regularly.....and it comes down to a Plan and discipline which gives you the edge.....THEN......trading was made for automation it seems to me.
In fact in many ways it seems rediculous that we should attempt to do this manually when there are sophisticated machines that can crunch numbers and monitor price changes and a host of other variables.
In my limited experience, I would suggest you had the right idea but simply made a bad choice....maybe. I would take another look at the EA and run it on a Demo account. From what I can see even good programmes will have a draw down and maybe it comes down to timing too. If you had started a week later you might be up .....a lot now!!? Who knows for sure.
I find this subject fascinating even though I'm very new to it and a bit of a Neanderthal when it comes to serious computing stuff.
They say 90% of traders lose money......probably for all sorts of reasons. But if they were simply turning on there comp and running an EA that worked ...in profit most of the time.....then that 90% would look different. Knowledge, skill and judgement would be removed.
No, I don't - the idea of using EA's is foreign to me and I know very little except you can programme MT4 & MT5 platforms.
If a good EA can search, monitor, decide and trade .....and be profitable only 40% of the time! then I believe you can still make money because you control the Sl levels and Risk /Reward ratio the EA is based on. It doesn't have to get perfect and I guess it never could be anyway. All we want is the Edge in probability terms, isn't it?
but rich, most likely the EA will have been optimised on historic data. as soon as you go live, as Pat did to his cost, you won't find a 40% probability anymore
in reality the ea will have no edge whatsoever.
The saga seems to be coming to a conclusion.
He has written:-
I decided to modify to allow smaller lot size. This will take some time to work on for me and it will be available in some days.
You can upgrade to newer version of EA Rosey for only 60 credits.
This is all I can do. When the newer version is available, thoroughly test them if you are happy with the EA.
Only if you are happy and you will not regret, then upgrade to newer version please.
Before purchase, you need to let me know. So I can provide you special upgrade price of 60 credits. Otherwise the price 550 will stay as usual for other customers..
Check frequently market for newer version next couple of days.
Shall I risk another 60 credits or not ?
Posted below are the strategy tester results ( with a bit of extra tweaking ) which you have to admit are very good.
I wouldn't bother for the time being, your original £550 is a lot of money already, but use the original EA on a Demo account. I don't mean back test it. But run it in real time on the Demo account with a trade size you would use in real life etc. see what happens.
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