Are there any good reliable EA out there?

I’m just wondering because im reading reviews about all these robots and getting mix results, so I just want to get down to the point, what is a good [U]working[/U] reliable EA out right now? seems to me, as time goes on, a Robot decreases in performance, why?

not 100% sure on this 1 but robots decrease in performance over time simply because the market conditions change and the robots do not change with the market. maybe if you updated your robots strategy to match the market it wouldn’t have a decrease in performance. i’ve tried using some EAs and making some of my own and found it to be a waste of time i make more and lose less trading manualy.
the mixed results your getting are probably from two types of people; the ones that used the robot and realized that it doesnt work and the ones that created the robot and who are trying to sell it claiming amazing results.
from what i hear tho megadroid? i think thats the name, has good results and actualy does work tho idk for sure so dont take my word for it. i believe, after trying to find/make a good robot, that you’re far better off trading manualy.

hope that helps some

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I’ve tried many. Currently I’m running Pips Miner, Godfather, and Enforcer on the same account. Nice 1-2-3 Punch.

Good Luck

There are a few reasons for this. The most likely reason is that it takes time for the true expectancy of a trading method to be established. Therefore, if you where the designer of an EA that you want to sell to an unsophisticated target market, then it makes perfect sense to exploit common techniques designed to mask the systems tue expectancy, so its going to take months before anyone really gets a handle on determining the true expectancy of a system that uses a 600 pip stop loss and a 6 pip target ! Given the nature of the people who buy these things, for every disgruntled client who hits 3 consecutive losing trades and blows their account, you’ll have 99 experiencing a string of consecutive wnning trades, and good news travels faster than bad.

So when you read about EA’s such as fap turbo decreasing in performance, its not, its just the true performance taking time to reach a steady state. Its like tossing coins, how many do you need to toss before the win / loss rate settles down to something approaching a steady state 50%. The interesting thing of course is that marketers can exploit this too, selling optimised parameter settings etc, which basically just reset the clocks before the whole charade begins again

The other issue is that if your a bucket shop broker, and hundreds of unsophisticated users attatch a simple EA, with open source rules, the majority using totally inappropriate risk management, and all you have to do to do is increase spread or slippage by a pip to profit from these people, then you’ll do it.

In the extremely unlikely event that an EA ever became popular enough to move the market, the move would be faded, simply because by definition EA users are weak hands.

Robots are a great way to trade, but not until you are consistently profitable using your own methods.

First of all a fact: If I had a highly profitable robot I would not sell it. No not for selfish reasons, but think about it. Why would you want to deal with advertising, customer support, sales, refunds, employees and the list goes on, when you could be taking a vacation every day of the year, or doing something more fun and productive? :confused:

And yes as markets change people do change or at least modify their strategies and the robots do not.
So if you have a consistently profitable method you could get it turned into an EA and as you watch the markets month after month and you realise that the method needs some changing get the EA modified as well.

dear aron, by know i never seen EAs that can challange my smartkick for a long times n a few years`


It is not that the EA’s performance decreases in time, but I think it is because there are cycles in the market, and different startegies manage to work best with different parts of these cycles.

To understand what I’m talking about you should look out for an e-book I discovered a few days ago called: “The art of forex portfolio”. I can’t post a link but you can google for the e-book’s name.

I think they explain things quiet clearly so i will just say that I find it totally makes sense to me that if you have a set of several EA’s (they call it there “portfolio”), these EA’s will give overall much better results than a single EA that’s only right for certain market conditions. If one of the EA’s shows decreased performance, the others should be better suited to current market, and if you wait patiently than the “degraded” EA will return to good performance.

So, bottom line you need to stop searching for that “one good EA” as you put it, and look for a winning combination of several EA’s that will work for a long period of time.

The answer is NO.

Most funds that control billions of dollars can not produce regular recurring profits. Do you really believe you can buy a profitable EA for a hundred or a thousand dollars? Stop and think about that before you part with your money.

Hi there,
IMHO the one thing to look for in an expert advisor is that it comforms with your trading stradegy. Expert advisors should never be “set and forget”, but act as support for the trader.

I myself have tried and tested nearly a hundred advisors and found that for the most part they “could” make you money, but lose it all at the end anyway because a proper “stop trading” is not utilized.

Now after all of that, I personally use a simple plan:
1-Use my expert advisor as a support to my already understood trading stradegy. (I like to know how the ea is making its decisions)
2-Have a strict and realistic trading plan (pips or $$ gain/loss per day/week)
3-Once goals are met–stop trading for that day/week.
4-Repeat 1 through 3

Good Luck and Lots of Pips :wink:

Your screen shot and explanation proves the opposite: when investors try to operate manually (i.e. not using an automated robot) they sometimes make very humanly and costly mistakes such as overconfidence, as explained in the article you attached.

Where can we get your EA (smartkick)?

thanks

See? When people want to believe, there’s no way you’ll ever convince them otherwise. It’s a faith thing.
If only I could be a broker… Leverage, slippage, time, and life is easy

It’s really a matter of Trial and Error in the EA game. I’ve been “trading” since January 2009, and have used nothing but EA’s…I used the wrong ones (error) until August, and lost my initial deposits…Since then I have found a couple that consistently work well, and now I just let them run. Since August I have recouped my losses and more than tripled my investment. So yes, it is possible to succeed with only EA’s…You simply have to find the combination that works with your broker and situation (TRIAL). I don’t know how to manually trade in a consistent manner, so for now this is all I know…And I know that it CAN and DOES work, with good money management.

i ve buy orignal smart EA,THE PRICE SO EXPANSIVE.BUT THIS EA SO GOOD N NO CHALLANGE since i used its.

Where you got it ?

I GOT FROM MINAMIKAZAMI.just googled smartkick ea n u ll be found its

How’s the results of these 3 EAs since this post until today?

(including all those big moves recently in late January & early Feb)

Not too good!! Enforcer was a super-bust. Godfather seems good in the long term, although I stopped it for a while (FPA test is still profitable overall). Pips Miner was ROCKIN back in October but ran into some serious speedbumps. However they recently dropped PipsMiner 2.0 and it’s undefeated on some recent 2010 tests so far. Will probably go back to that one. Been taking a break from live trading.

Can someone tell me what are these and how to use these automated systems?

Thanks

hey garcia,

automated systems are those ‘expert advisors(EA)’ or software that are used to help you trade forex automatically. Most are used in MT4 platform.

you install the EA in the MT4 platform and it will trade for you without your interference. but of course there are lots of robot scams on the internet…not easy to find one that works in the long term though I have one that works.