Midas EA from Ploutus

[fxtr4d3r]

Hi,
I am new on forex and because of my lack of knowledge on forex, I asked to my broker where I can get a good Robot for my trades and my account manager told me about the Midas EA.
There is anyone who is trading with this robot?
For what he told me, this robot is very profitable and the guys from the Midas has MLM system on top of it!
Actually I think it is very nice but I want to know if someone tested or trade with this EA?
I think is to expensive but has the multi-level profits...

Regards
FT

 

[ForexNewbie51]

I did a quick check on Google and see you've done the same post at another site so you might have been given this link already? Personally, I'd leave EA's alone and master manual trading or if you really want to use an EA, I implore you to run the EA on a demo account for at least one month before unleashing it on a real money account. Enthusiasm will likely make you want to trust it'll be the quick road to riches but there are few EA's out there that are any better than a host of free ones.

www.myfxbook.com/community/trading.../ploutus...midas.../164426.

 

[fxtr4d3r]

I did a quick check on Google and see you've done the same post at another site so you might have been given this link already? Personally, I'd leave EA's alone and master manual trading or if you really want to use an EA, I implore you to run the EA on a demo account for at least one month before unleashing it on a real money account. Enthusiasm will likely make you want to trust it'll be the quick road to riches but there are few EA's out there that are any better than a host of free ones.

www.myfxbook.com/community/trading.../ploutus...midas.../164426.

Hi ForexNewbie51,
yes I did other posts on other foruns, because I want to have much information about this EA. Nothing better than ask in different forums I guess!
The thing is I am Portuguese and this EA seems that is developed in Portugal, and I can have better support than others. I have tried other EAs, free also and all of them blow all my demo accounts. I have tried a few from a guy called Funyo, I think is that name, and after a few days all accounts are dead, demo accounts, of course .
Anyway I will looking further to see if someone reply to me with some answers
Thank you ForexNewbie51 for your reply
Cheers

 

[ForexNewbie51]

I went through the period where the next best EA would be my salvation. I have legitimate licensed copies (far too) many. I have 7 licenses for Megadroid (most free with other EA purchased) and 2 for FAP and all they do is gradually deplete accounts. I bought one for my son and he makes money by manually trading in the opposite direction. True! And it is profitable strategy. There are some very clever EA's out there and ones that can be set for different conditions but one just can't beat manual trades using no more than a few only indicators band a sound strategy. I am not saying I'm making heaps - forex is a slippery snake - but I am doing one trade at a time only and TP at what the market allows. My account balance is heading upwards only now - but it took a long time to realise the EA's we can buy for $79 ~ 350+ are no better than some good free ones shared in forums.

 

[ezrydn]

I got bit by the lying EA bug when I first entered Forex. "Do it for you" sounded pretty good, didn't it? Yet, you forgot one element. IF the EA worked, you still wouldn't know SQUAT! What's to assure you have your EA with you if you decide to trade from a location other than home?

No, forget EAs. I call them "money suckers" because they do that to Everything they touch, except money-pairs. Learn Manual Trading FIRST! Then, if you MUST waste money, try robots. I gave each robot the warranty offered by the vendor for each EA I purchased to pay for itself. If it didn't, it got refunded. Wonder why I don't use EAs? I don't have any. None could fill their personal bill.

Buzz words keep changing but it's still a pitiful 4-banger under the hood. Learn "by-hand" as you'll always have them with you.