newbie have questions about robots

[paralotnik]

I know the Donna Forex site does live testing...and she tests a lot of EAs!

[david wood]

also check out 4xrobots dot com site, it has a nice graphic interface and test most popular robots.

[James Dealbert]

Originally Posted by david wood

also check out 4xrobots dot com site, it has a nice graphic interface and test most popular robots.

Thx a lot David and Paralotnik. I've checked both of this sites and both tests are made on Demo, which I strongly believe that is not reliable. That's the thing a like about that other site, forex-robots.com , they test robots on real money accounts. Any other sites with this characteristics?

rgds

James

[Naynay]

Originally Posted by soul786

In my opinion, robots take the fun out of it. At least for me. I like to 'understand' and feel some accomplishment rather than letting someone/something trade for me.
...
Now if I even took one or two trades a week, I think I could do better. Yes it'll take some learning and time, but the results could be much better.

My sentiments are the same, but the search for the forex holy grail won't be found in many of the commercial EAs. In my opinion, the holy grail is amongst the manual trade strategies used by professional traders that have not been coded into EAs (yet). In any case, getting such an EA to run is going to require some manual trading acumen combined with coding skills, a bucketload of persistence and patience, and a small amount of starting captial.

Yes, some EAs will get you trading automatically, with varying degrees of risk... but the "mutual fund" strategy will not get you wealthy quickly.
The REAL get rich quick methods are simply not quick, nor easy, nor something that you can just drop on a chart and hope for the best.

[Rengoku]

There is a simple reply to this question in regards to automation! There is not EA out there that can match trading manually period! I dabble in EAs for a hobby, but I trade manually! Look at what has happened in the recent past... 2 of the biggest named EAs are basically worthless... FAPT and MD!!! It’s because the brokers can see what you are using and counter them... don’t believe me... find this ebook “Beat the Forex Dealer by Agustin Silvani” I’ll tell you one thing for sure... trading manually you are already behind the eightball! Now throw in automation... something that cannot think for itself... and you have a losing situation! Now, don’t take what I'm saying as negative... its not! Like I said I play around with EAs... they just need constant supervision... so then my question is why not trade manually then??? Another thing... if you think about it, why would someone that has built this automation program that can make you a lot of money sell it for a mere $100??? Remember that FX is a zero load game!!! Someone has to lose for you to win!!! So again... why would they invite the competition? The only EAs out there that perform are the ones that are created by YOU! Using your strategy... Lastly, I think that if anyone wants to trade in FX... they should have a good understanding of what this game is all about! Know the ropes... know what the EA is trying to accomplish! That way you have a better chance of not blowing your account!!! Just my 2 cents!

[Naynay]

Originally Posted by Rengoku

Look at what has happened in the recent past... 2 of the biggest named EAs are basically worthless... FAPT and MD!!! It’s because the brokers can see what you are using and counter them...!

Scalpers are much easier for brokers to clamp down on... simply because they are susceptible to spread widening and spikes.

EAs that don't use this strategy have a vastly better chance of succeeding if the logic is sound (which is rare)

[Rengoku]

Originally Posted by Naynay

Scalpers are much easier for brokers to clamp down on... simply because they are susceptible to spread widening and spikes.

EAs that don't use this strategy have a vastly better chance of succeeding if the logic is sound (which is rare)

Exactly! The problem with automation is it is based on mechanical indications... since most (if not all) indicators are based on what has happened and not what is happening it makes any short term EA susceptible to broker manipulation! Even the higher time frame EAs are susceptible to a certain degree. When I first made the change from stocks to FX... I was always on the hunt for indicators... thinking I could find the one that will give me that edge!!! Then it grew into the search from the EA that would beat the broker and let me just say that lasted for around a year! Now I have come to the realization that nothing but my own judgment and knowledge will help! While I still use indicators to some degree... I based my trades primarily on the candles and what they are tell me... and its paid off! The point I wanted to make to some of the new people joining the ranks in FX... there is no grail! There is nothing out there that will give you that edge except for what is between your ears! Simple as that.

[Rengoku]

Originally Posted by Naynay

In my opinion, the holy grail is amongst the manual trade strategies used by professional traders that have not been coded into EAs (yet). In any case, getting such an EA to run is going to require some manual trading acumen combined with coding skills, a bucketload of persistence and patience, and a small amount of starting captial.

Another thing I wanted to comment on... your statement above. I totally agree with you... less the grail part LOL!!! But unfortunately, this will never become a reality on the MT4 platform... it cant! It is simply so restrictive in what can be done... if the EA gets too large then speed will become a problem... to small... well then its missing too much logic to function as intended! Now, this can be done today!!! But you would need to go to a broker that offers an API and program it in a real language such as C++, C#, or even VBNET... something like that but it will not be possible with MQL... at least not MQL4... maybe MQL5???

[James Dealbert]

Originally Posted by Rengoku

Exactly! The problem with automation is it is based on mechanical indications... since most (if not all) indicators are based on what has happened and not what is happening it makes any short term EA susceptible to broker manipulation! Even the higher time frame EAs are susceptible to a certain degree. When I first made the change from stocks to FX... I was always on the hunt for indicators... thinking I could find the one that will give me that edge!!! Then it grew into the search from the EA that would beat the broker and let me just say that lasted for around a year! Now I have come to the realization that nothing but my own judgment and knowledge will help! While I still use indicators to some degree... I based my trades primarily on the candles and what they are tell me... and its paid off! The point I wanted to make to some of the new people joining the ranks in FX... there is no grail! There is nothing out there that will give you that edge except for what is between your ears! Simple as that.

I do agree on that part, most EAs based their trading alghorithym on indicators (that is past information) and are not price oriented, which is the current information. Therefore, one can expect that most of them will have severe difficulties when predicting the market. That's precisely why I believe that EA testing sites are the of so much value, they help us (robot traders) significantly.

[david wood]

Originally Posted by James Dealbert

Thx a lot David and Paralotnik. I've checked both of this sites and both tests are made on Demo, which I strongly believe that is not reliable.

This is a common mis-conception. There may be differences between execution on real-money and demo accounts (only with "scalping"-type robots!) but they are no more dramatic than differences between account on different brokers.
The reason is simple: the Forex market has no central exchange like the commodities or stock markets.
That being said, if a robot has a winning strategy it will most likely be good with any broker.

Oh, and those micro lot "real-money" accounts used by that site... they are treated by the broker exactly like a demo account. so them claiming to test on real-money accounts in no more than hype.