I’d like to add that, EA is difficult to handle. You must have some programming skills in order to understand how an EA works and how it’s placing and when it’s closing orders (or the person who build it to explain to you how it works). As FreshForex mentioned correctly, you should always monitor your EA’s trades. There are many fake EA’s all over the forex websites and people promise you 100% success and profits, but in reality usually the opposite happens.
I wish but i am a full time developer and not have much time to maintain a thread. Thats why posting whenever i get time. My EA latest trades :60:
Yes, a few EA’s still works fine.
Yes, EA do work. You do need to have a good EA programmer to get the job done. He/she will need to tweak your strategy to ensure success. Here is an EA that I had programmed. It is a scalping EA that grabs 20 pips on each trade over 29 pairs it is a set and forget EA. I run it once a day and then check the trades at the end of NY session close. Here are the results of the last 2 days. I have more data of course.
I am sure that EAs as well a ssignals can become useless or even pretty dangerous for your account in quite a short period of time. Of course this software has algorithm, and it works properly under certain market conditions. And what to do if these conditions change?.. I know that EAs can help you with small amounts and volumes, but if we are talking about significant sums, it’s all is obviously too risky.
@Quebernell I’ve been trading for more than 26 years. Can you please provide and concrete proof that EA’s will not work if we are talking about significant sums? I will agree that any form of trading is risky from the onset.
I await your favorable documents proof, data, or findings to the above question.
Have a magnificent day on PURPOSE!
FXALTareeq
Do I have an obligation to prove something with documents instead of expressing my own opinion from experience? EAs work with algorythms for current market conditions. Also, host of opinions of EA’s ex-owners who suffered during each change of market. Of course it is important who creates a current EA and adjusts it to trading strategy. Have I said that EA won’t work? Regardless to sums, huge or small. So what do you want me to prove then? Do not say what is not, please.
No, you don’t have to as the EA sellers don’t provide proof that their EA’s have been working for a longer period either. If our Mr Tareeq had actual long term proof, why would he show only the last two days? That is already a first signal that he may not be totally honest. Found it, yes he is commercial: 301 Moved Permanently
I can name numereous reasons why it is highly probably that an EA won’t be profitable in the long term, fully automated and without maintenance.
Interesting, he has been trading for 26 years now. Internet wasn’t around in those days, let alone EA’s. So he must have been a floor trader in Chicago, or he had a shop. 
Hey @Toekan,
The Internet was around 26 years ago. There was a thing called dial up and AOL 
(Google it).
My record and trades are very clear and documented by 3rd parties. ALL of my trades, including the ones on my EA are also documented. Here is an account that I am trading LIVE since January 2016 and it’s up 123% ROI. Again all trades 3rd party verified. This is an account that I am taking $1K to $1 Million.
If that doesn’t knock your socks off how about this screenshot:
The difference in the percentages is one shows equity and the other shows account balance ratios.
I trade and teach trading for a living. I have over 1,200 students on two different platforms and my own FX Forum.
@Toekan I refuse to have a battle of wits with an unarmed person, go arm yourself.
Let me know if you need more factual evidence of my trading verse you posting nonfactual and unfounded theories.
Have a magnificent day on PURPOSE!
FXALTareeq
Tareeq, I understand that your reputation is important to you as it is directly related to a source of income for you, but your posts seem to showcase that you have proof that we are wrong and that you have an EA that has been running for a while. But the proof that you are showing us isn’t really convincing us. Now you don’t have to proof us wrong but it appears that you want to. So if you want to make your point you may consider to give us something else.
And you yourself came with the 26 yrs trading claim and you know how the Internet works, so don’t be surprised that someone challenges you on that. (btw Dail-in AOL isn’t Internet).
And to balance your enthousiastic claims about your succes. People interested should have a good look at your website, they might see something that is not so picture perfect. I don’t need to arm myself, I don’t need to showcase myself either.
@Toekan…You didn’t provide a single shred of evidence to the contrary as well. Again go arm yourself. BTW you’re most likely too young to know what Dial up Internet access was lol. :59:
Euhrm, you asked for proof! I just said that you didn’t provide it yourself. Now you are using that on me? Does that mean that you actually came empty handed?
I have been an IS-auditor for 12 yrs for large financial institutions, I certainly know the technology. I have worked with Bulletin Board Systems on a 12K2 modem (which was the coolest thing around at those times). I am 44 yrs now, so timewise that makes sense to. So why the lol?
Anyway, this doesn’t help in the question of this thread: do EA’s actually work. I was hoping that you could give us some insights.
Some pointers from my side why I don’t like to rely on soley EA’s when trading fx. If you read them you can probably figure out what their effect might be.
Why it is wise to be carefull to solely rely on EA’s
- How does the EA handle major news events where volatilliy is exteremely high
- Is the EA adjusted to your timezone (see also the first pointer)
- Does the EA stop trades at the start of the weekend, or stay they live
- How does your EA handle money management (does it adjust to your balance?)
- Can you adjust the lotsize (or maximize them)
- Is the leverage used by the EA to your liking? When it uses 50:1 on a 20:1 account it may possible not work, only the signals.
- Is the EA adjusted to your base currency?
- How does the EA prevent multiple trades
- Is the EA adjusted to the pair that you trade
- How does the EA handle requotes
- Does the EA mazimize drawdowns?
- Does the EA use fixed parameters or fixed sequences, which may stop an EA when the sequence does not apply.
- Does the EA have sound stoplosses and are lotsizes adjusted downwards when making losses (to prevent a stop-out by your broker).
- Does the EA require a password when you run it (you may be required to purchase a new password when there is a new update).
Proofwise:
- How do you know that the seller didn’t mannually adjust the EA to compensate its weak points
- How do you know that the seller actually run the EA that he is selling
- When a seller shows MT4 tester reports as proof you may have to consider that the EA was especially build for the period tested and may not actually work live.
- Does the proof apply to a time-period longer then six months? (Most EA’s work for a couple of months but not longer).
Supportwise:
- Does the seller issue new versions or updates to address the above
- Does the EA come with a file where you can adjust parameters to have the EA work how you would like.
- [Big plus] Do you get the source file as well?
No you weren’t. Your post looks more like trolling. This will be my last reply to YOU @Toekan. Your negative position is clear and duly noted regarding EA’s. bye bye :27::27:
In my short period of time coding EA’s, I find that half the battle is knowing the where the currency itself is headed. A lot of the bots I’ve come across fall into two main areas - scalping trends and exploiting pairs that are ranging. The extreme versions of these EA’s are martingale and grid-type systems.
Pairing the wrong system to the wrong assumption can spell disaster. For instance, paring up a grid type system with a strong trend that never ends just is a money pit. Look at GBPJPY for last month for a strong trend. Paring a martingale system with a ranging pair will be the same.
The simple solution to this is to have the ability to read where the market. Then it’s a matter of tweaking entries and exits and run an EA on it. We wouldn’t be sitting here talking about this if we all could do this though 
Here’s what I meant, when I mean predicting the trend is half the story. Whipped up a simple trend bot and got 10K to 1.5M in 1.5 month from GBPJPY during the time it trended. Sometimes it seems like the EA is the edge, when it could be just pure luck of choosing the right pair for the month/year. It explains why some bots ‘only work’ for a certain amount of months - they might’ve just been fortunate.
EDIT: Image so tiny! Highlights include:
Profit: 14770%
Equity Drawdown: 0.53%
Profit Factor: 188.68
Data: Tick Data (cTrader)
Trade Frequency: 5 positions opened per day (important for those copy trading)
Hahaha, you surely like to make it look like you are the wise one. But my last note is that you still don’t have given any proof yourself although you attempted three times. Surely I am allowed to point out to our less experienced members that that is the case.
But, whatever makes you happy. I am not here to please you.
Hibi, that is exactly my point. EA’s may look promising for a couple of months but may be ill performing when the current market is not one that the EA is made for. You have EA’s that work better when trending and EA’s that work better in ranged markets. The profitability may return when the market changes again.
However, when your risk management is aggressive the dearly awaited change in the market behavior may be too late to safe your account. So if you desire to work with an EA keep an eye out on its performance, try to work out what is different in the current market and take measures to work your way through until the desired market conditions return again.
Now I think of it, it is actually like normal trade strategies. 
Bingo