Hi all!

sergiosv

Junior member
12 0
Hello everybody. ..I'm just joined to this amazing word!...
I'm starting with the book "technical Analysis of the Financial Markets, from john j. Murphy.
In a chapter the boom describe the use of some softwares that buy and sell automatically. ..how much they cost them?...are they worthy?
Thanks everyone
 

Pat494

Legendary member
14,496 1,541
Hello everybody. ..I'm just joined to this amazing word!...
I'm starting with the book "technical Analysis of the Financial Markets, from john j. Murphy.
In a chapter the boom describe the use of some softwares that buy and sell automatically. ..how much they cost them?...are they worthy?
Thanks everyone

There are many EA software programmes in the market. Many cost a lot and one doesn't really know if they are any good until after one has paid the money. The one I bought looked good on testing but failed miserably from the very first trade and cost over £500. So beware, mostly they don't make profits.
 

gerryg

Established member
900 6
Hello everybody. ..I'm just joined to this amazing word!...
I'm starting with the book "technical Analysis of the Financial Markets, from john j. Murphy.
In a chapter the boom describe the use of some softwares that buy and sell automatically. ..how much they cost them?...are they worthy?
Thanks everyone

Probably he talks about ultra scalping software that benefits mostly from spreads. Not sure you'll be able to use it with regular retail brokerages as they don't put up with EA which can profit from their holes :p.


The only EA I really consider as worth to be tried is news-traded EA. It catches news-triggered market movements and automatically opens an order with set parameters of lot size, SL and TP. Currently I use EA with Нotforex based on buy limit and sell stop orders, which are ready to shoot at some important news comeout. Both of them triggered after news came and, depending of the direction breakout one of the orders is closing. Wish you find your personal EA that will bring you many pips :)
 

sergiosv

Junior member
12 0
Probably he talks about ultra scalping software that benefits mostly from spreads. Not sure you'll be able to use it with regular retail brokerages as they don't put up with EA which can profit from their holes [emoji14].


The only EA I really consider as worth to be tried is news-traded EA. It catches news-triggered market movements and automatically opens an order with set parameters of lot size, SL and TP. Currently I use EA with Нotforex based on buy limit and sell stop orders, which are ready to shoot at some important news comeout. Both of them triggered after news came and, depending of the direction breakout one of the orders is closing. Wish you find your personal EA that will bring you many pips :)
Hi gerry!...can you tell me from where you downloaded your EA software please ;-)
 

sergiosv

Junior member
12 0
Hello, I am also reading a book for career change, welcome to you in this forum.
Well...that's would be a great thing ge able to live just with day trading!...
I'm trading with a demo platform and so far in I'm doing good...but it's so easy trade without emotion. ..so I believe that's the key To trade properly apart having a good knowledge of the basics...be able to stay away from the emotions.
 

Pat494

Legendary member
14,496 1,541
Well...that's would be a great thing ge able to live just with day trading!...
I'm trading with a demo platform and so far in I'm doing good...but it's so easy trade without emotion. ..so I believe that's the key To trade properly apart having a good knowledge of the basics...be able to stay away from the emotions.

I see your point but I would refine it a bit more to " don't get too emotional".
Robots have no emotions and are pretty dull. Wave your arms about and yell a bit when the trade goes the wrong way imho or one is dead like a robot !
It is a human safety valve.
 

Fugazsy

Veteren member
3,661 677
Hello everybody. ..I'm just joined to this amazing word!...
I'm starting with the book "technical Analysis of the Financial Markets, from john j. Murphy.
In a chapter the boom describe the use of some softwares that buy and sell automatically. ..how much they cost them?...are they worthy?
Thanks everyone

Good book. One of the best in my view.

Read and study the section on major reversal and continuation patters.

If you know how to use them, they work enough.

not sure about the software..
 
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