Learn to trade, not to deal

fayalac

Established member
560 14
I have seen many people arrount these and other forums trying, at any form, to find the best of the best EA. It seems to me that many people think the only way to win at the markets is with an EA.
Personally i am working hard to automate my trading, let me tell you some experiences.
1) Most of the availabe “free” EA´s are just crap, i have tried hundreds of those and till now none has managed to make a consistent profit for just three days.
2) I have seen a lot of publicity about “magic” EA´s so anyone can become millionare while sleeping or swimming at the pool, when i see those things i wonder “if it is so good, what in the hell are you doing trying to sell something that can make you nastilly rich in a couple of weeks?”, come on, lets get real.
3) I have made some programs to try to automate myself my own method, it doesnt work at all, last nigth – obviously at a demo account – these EA lost something like 60 pips,these morning i turn the program off and in a couple of moves within 15 minutes i recovered back 55, so the main problem is noth the program the basic concern for you all must be that your method work and can be profitable.
4) Each method has a weakness, when we are manually working with it we can easily relize and make the propper corrections or simply quit from any position, these is just because we have learnt markets behavior and we know when something like yesterdays happen, a sudden drop at many pairs because of European situation, it doesnt matter if we have a winning position in that moment acording to the pair correlation to the currency that is being affected we can recognize if we better quit that position or we stick, there is no program that can do that.
5) Most of my method is based on price action and chart analysis, untill now i have not heard about an EA that can make such analysis.
6) An EA can try to find logical patterns, if you make an algoritmic regression (5 min chart) of EUR/USD since three days ago it was foreseeing a drop in the markets but it was not pronnounced, anyway what made the markets to drop the way they did was the European situation that started with some news here and there and it grew up, if those news and circumstances hasnt took place maybe, just maybe the regression had been rigth – logical pattern – but there is no pattern to predict circumstances like of these weeks.
7) I believe in automation but i strongly believe that i cannot automate what i dont know good.

Study the markets and learn trading, keep looking for something to make our job easier of course, but first of all learn, these is not easy, is not a game and noone said it had to be logic.
 

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