EA - big dissapointment

[apap68]

I have tried more than 50 eas so far and I must tell that I no longer believe if someone says "it is great! It earns you a lot!" Leave alone a lot. NEITHER of eas I've used earned anything. So... what's your opinion?

 

[Enivid]

My opinion is that there are EAs that earn something. As I have tried such EAs on my own. But they do it very slowly.

On the other hand, you can try some crazy Martingale EA. It will surely earn for some time (and earn a lot) before wiping out your account 🙂.

 

[miskec]

Some EA's can earn you money on a short term, but in long term they will blow up your account, because the market changes and they cant adapt.

 

[Hooya]

think the key to any trading system is that you have to have a positive reward to risk ratio. Alot of these EAs have great strike rates but losing positions can be kept open for ages and during the good periods you get 1 in 10 stopped out but if that increases to 3 in 10 the system becomes a loser. If you habe system where you win more than when you lose you only need (usually) a 45%+ strike rate to start making money. Most real signals will fluctuate in my opinion between 40-60% strike rate so as long as you have a decent risk to reward ratio you won't get burnt if it drops to the low end for a period.

 

[ForexExclusiveClub]

I have tried more than 50 eas so far and I must tell that I no longer believe if someone says "it is great! It earns you a lot!" Leave alone a lot. NEITHER of eas I've used earned anything. So... what's your opinion?

Let professionals manage your account and you will change your opinnion.

 

[Hooya]

eh? You won't get proffesional money managers or traders using EAs with a 5:1 risk to reward ratio thats for sure.

 

[pipper4x]

Hooya

I feel your pain. I too have had my bad experiences with ea's.
Although I think i'm on to something with a new ea i've been trying out.
Its called superscalper. The guy running it is honest and very patient.
He always waits for the right trades, not jumping in and out of the market.
and if there is a loss, he can usually makes it back right away in a trade or two.
So far so good, I'll keep you posted on the results.
Have a good day🙂

 

[Hooya]

what pain? I have never used an EA and don't plan to start yet until one can come up with a positive reward to risk ratio.

That first link is pretty much an affiliate advertising website not a real review site. And the second one isn't much better. Reviews where they are pretty much repeating the marking blurb of the EA selling sites is a pretty big give away🙂

 

[igalco14]

Hay
I don't know why you think I spamed but still - i do think that before using expert you should compare them and see what is good for you.
I would not recommand on auto pilot experts where you don't have any control on your trades.
I hope that you will be lucky in the end!

 

[malaytrader]

using ea depending of your broker too

 

[Hooya]

Hay
I don't know why you think I spamed but still - i do think that before using expert you should compare them and see what is good for you.
I would not recommand on auto pilot experts where you don't have any control on your trades.
I hope that you will be lucky in the end!

not sure what you are repsonding too?

 

[AutoTrader]

Don't lose faith.

There are some EAs that work. Of course, their developers won't share them for 97$, but I know that good traders can automate their trading strategies. I will give a little hint here: The profitable EA is not made of indicators...

There are hedge funds like the Renaissance fund which uses automated trading and pockets profits BIG TIME.

 

[Hooya]

There are hedge funds like the Renaissance fund which uses automated trading and pockets profits BIG TIME.

A 3rd of all derivatives trading is automated these days and I expect it to increase over the next decade.

Agree with you that they do not base their algo's on indicators but also the key to them making money isn't in the strike rate it is in the capital management. They trade huge volume, taking little bits a time. For a 1 contract trader it would add up to nothing really but for them trading 100s and 100s contracts a time it soon adds up.

 

[ezrydn]

Most "review" sites aren't review sites. They're AFFILIATE sites. Be sure you can spot the difference. Check their links to the product site. Does it carry an affiliate ID? If it does, don't waste your time looking for the truth.

I had pretty much called off using EAs but decided ti try "Auto Forex Income" EA. I was sure it would be a fluke, especially for $49. However, it's profitable AND, better yet, it's consistent. It's just finishing it's second month and still running strong. It paid for itself the first day online, and then some.