If Carlsberg made expert advisors

[Michael 40]

Hi, I am new here and to foreign exchange, does anybody use metatrader?

If so has anybody heard of this automatic way of making money, I want to use it but can I get some advise first?



Thanks, Michael

 

[N Rothschild]

yawn

 

[Michael 40]

yawn?

 

[Michael 40]

Anybody else?

 

[megamuel]

yawn

 

[megamuel]

 

[Michael 40]

I don't understand yawn, is this a forum for the terminally tired???

 

[Michael 40]

Anybody else who isnt tired?

 

[Lightning McQueen]

I don't understand yawn, is this a forum for the terminally tired???

yep, the terminally tired of getting posts like that lol

no more please

 

[Michael 40]

Don't know what kind of forum this is but half of my post has been deleted and no one can answer me, oh well, I have bought the advisor to test for myself, thanks for nothing.

 

[megamuel]

Haha. Well what do you want us to tell you? That we all use that EA and we are all millionairres? I can't even be bothered reading about it but surely you know these things are too good to be true? The reason for Genics comment is because he is bored of telling people that EA's that claim to get you rich quick just don't work. Most people that contribute to this site regulary have gone past the stage of thinking that trading is a get rich quick game and have now realised that to make any money in trading it takes a lot of hard work. However you'll feel a false sense of security because on the outside trading appears simple, and the principle is, buy and sell for a profit. But in reality it is anything but simple and takes a lot of hard work and dedication. However, try the EA by all means and let us know how you get on. If you make £132k in 6 months let me know and I'll be the first to admit I was wrong (and then go and buy it!).

Sam.

 

[Michael 40]

This is from their website, sure does look good. :clap:

 

[Michael 40]

Thanks for help megamuel, didn't know about this, I will write my results on here when I figure how to work this thing.

 

[shadowninja]

What he said. There's no shortcut, I'm afraid. We've all been down the same path you tread. Let us know how it goes and good luck.

 

[Michael 40]

Thank you shadowninja, like your pic

 

[Trader333]

Something looks very dodgey with those equity curves, possibly a loss recovery approach which will ultimately be a total account wipeout in my view.


Paul

 

[HaloTrader]

I have a system that i could automate but i have a feeling if i did, when it stopped working - I wouldn't understand why - Whereas if i watched every trade i would understand the market dynamics and really learn my setup so that when changes need to be made, i'm the man for the job.

Saying 'Make money through automated trading' is like saying 'Make money through trading' 'Make money as a doctor' 'Make money through bonds'
All require time, effort, skill...

When you are in the top 10% of automated system creation, development, testing, demo'ing and managing - Then yes its profitable... Just as if you are in the Top 10% of painters you can be very profitable selling your art.

Trading can be very profitable. You have to be skillful and have puts lots of time, effort, commitment, obsession, cognitive thinking into the markets before you are experienced and knowledgeable enough to take money of the thousands of guys like you.

Some guys spend 10,000+hours learning and getting experience.
Another buys a system for £2,000, spends 6 hours on it and tries it out...

Regardless of how good the system is, realistically - Who is going to be trading for a living and becomming rich.


Infact its probably more like 5% or less.

Anyone can make a business - You've heard some make billions! - Are your skills developed enough to do this proficiently... Whos going to make money? The man who planned everything from start to finish, read everything he could on the subject, carefully choose his business and products - Or the bloke who asks him at the end 'I hear starting a business can make ya rich, can it?'

 

[Michael 40]

Thanks for the replies, I have backtested it on all pairs on demo account and all results look pretty much the same, hope it does this well in live trading..

One pair which looks not so good is the AUDUSD but all the rest are looking good

Longer term backtest

 

[Michael 40]

Has anyone else purchased the EA on this site, would like to discuss settings if so please

 

[HaloTrader]

Good luck Michael 40

Final word of advice - While this automation earns you money... Learn to trade and research it and everything
Most people have to do this without profits - But if automation gives you profit, this should give you more time and less stress and emotions to learn to trade... This is so it doesn't create laziness.

If it works, then suddenly stops for whatever reason in 5 years. You are going to have developed a lazy attitude to trading and maybe be a full-time automation trader... When it fails. You got nothing dawg.