How to choose a perfect Trading EA?

nikil

Trader
Apr 9, 2012
2
0
12
Hi,

Iam very new to this forum and iam trading in forex market for the past two years and i would like to know how to choose or design a perfect EA with more than 75% of trading accuracy. Which forex instuments gives better results?

Can anyone help me. I would like to build a robust trading system. What are the things in need to know before doing that?
 

Enivid

Administrator
Staff member
Nov 30, 2008
16,821
981
144
Odessa
www.earnforex.com
The first thing that you need to know is that you don't want to choose a perfect EA with some accuracy. You want to choose an EA with a certain (positive) trade expectancy rather than accuracy. What will you do with an with 75% trading accuracy if its losses are 10 times bigger than wins?
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
4
49
For starters, you are better off with manual trading than an EA. 99% of EA's make money for the developer than the end-user. And the other 1%, the coder develops his own EA and uses it and does not sell it to anybody else, exemplifying the principle "no one wants to share their wealth".
Try to read up on online resources, train yourself [that's how all traders started], review the brokers and select one that suits you, start off with a demo account and do a dry run for a specific period and finally, once you have got it right, move on to live acc.
Hope that helps..
 

Alchemist

Active Trader
May 2, 2012
74
1
27
England
www.alchemistforex.com
For starters, you are better off with manual trading than an EA. 99% of EA's make money for the developer than the end-user. And the other 1%, the coder develops his own EA and uses it and does not sell it to anybody else, exemplifying the principle "no one wants to share their wealth".
Try to read up on online resources, train yourself [that's how all traders started], review the brokers and select one that suits you, start off with a demo account and do a dry run for a specific period and finally, once you have got it right, move on to live acc.
Hope that helps..

Definitely manual trading, the main reason being trader discretion. Read the following post:

http://www.earnforex.com/forum/27904-post7.html

Read the rest of that thread as well.