Yep. Been sux into buying a couple and you know the result its all bad. Thats why I’m learning to code to build my own based on my plan.
With that said don’t think anyone can make money trading someone-else plan manual or automatic.
I bought one strategy about 6 years ago for $99 while it was on sale. I ran it live as soon as I bought it as I don’t prefer to demo anything. First couple of months was pretty much break even. I ended up decompiling the dlls and ex4 to get the source code and went about re-building and optimizing the strategy myself. I found a parameter set that showed potential so I ended up throwing it live again. The strategy approximately tripled my account in a few months, I later lost 20% and decided it was a fluke.
Withdrew and closed the account; never looked at commercial EAs again.
great examples, anyone else had any luck or horror stories?
How do you decompile a ea/indicator on mt4? I want to look at some code.
MQL4 is based around C. 
mate if you tripled your account then lost 20% you must of been up 280%? thats still good. Am i missing something?
Doing the math, about 240%, yes. But it was clear it was a fluke at that point. Had I continued with it, it would have blown up the account.
so did you add to a demo account and see what happened or just quit it all together?
nice profit though.
Hey guys … tried 2 EA’s recently and that has taken away close to 1500USD of my 4700$ account … :mad: Bull **** claims 
…
There is one new in the name MT5 Robot which is showing myFXbook results and claim to give a whooping …holy grail …2000% returns in one month time …
Pasting the link here:
Forex Money Management Programs | No Forex Experince Required, Anybody Can Make Money
Looks more like a hedge fund manager than an ea. i I DON TRUST ANYONE PLAYING WITH MY ACCOUNT.
Beware!
'best
Darth
Never bought a commercial EA, but built a few of my own over the last 12 months. One did very well but then suffered a 40% drawdown. I made a few tweaks and seems to be getting back on track. The others have only been trading live for a few weeks, but so far results are promising.
nice, did you run it through the strategy test on your platform to get the best settings? can i ask is it based on indicators or price action? Also can i ask are you a programmer by trade?
'best
darth
As a logic progression of the trading field, algorithmic trading will eventually become a major player, if not already. However, do not expect profitable EA’s to be sold somewhere. If you think about it, why would you sell a consistently profitable EA? You already make money, why go through all the sales hassle for couple of bucks.
Buying an EA is just trading someone else’s ideas. I myself, do not trade based on other ppl’s ideas “I think many traders are loners too”. I prefer to learn how to catch the fish.
So, my personal experience with EAs is that i build them by myself for myself. My EAs aren’t the 100% automated types, the set and forget types. I make the trading decisions and let my EAs do the executions. That help reduce the psychological impact. But i am still working towards a fully automated EA, which is not an easy task. But i believe, it is achievable.
Hi Darth
I’m not a programmer by trade, but have put a lot of time into learning to code over the last 12 months. I am certainly no expert, but have made a lot of progress in that time.
In terms of development, I don’t use MT4’s strategy tester, but I do use a walk-forward optimization approach that aims to get the most robust parameter settings.
I’ve developed several strategies, and only one of them incorporates any form of price action. This one has the worst backtest performance and is so far performing worst in live trading. Some of my other strategies are based on transformation of the price series (that is, indicators), but not the MACD/Stochastic/RSI type of indicators that are most common. I like indicators derived from digital signal processing, and am a fan of John Ehlers’ work. As well as those, I have two strategies that are based purely on statistical properties of the market being traded. These are relatively new additions to the stable and don’t have much live trading history, but they are the most promising as their development process and backtest results were very robust. If I were starting over again, I would start with the statistical approach.
Cheers
You’re doing them a big favour posting their url on here. Might be a good idea to delete it
It is shocking how many traders fall for easy money lol I saw a good article about EA’s and scammers in this market. If you have used an EA in the past and it didn’t work or if you are considering to use an EA please read this before. They write educational articles on the Forex market and give signals for a fee. The article is called how the smartest are being outsmarted in the Forex market, Trading Signals: Unveiling the Truth | DDMarkets Forex Signals
1 Like
Brilliant article
I hope this will prevent traders from throwing money down the drain.
[QUOTE=“Pollar;690622”] I hope this will prevent traders from throwing money down the drain.[/QUOTE]
I won’t. There will always be those that dispel logic and sound reasoning in return for the cheap thrill of a fast buck.
[QUOTE=“mastergunner99;690625”] I won’t. There will always be those that dispel logic and sound reasoning in return for the cheap thrill of a fast buck.[/QUOTE]
Would be super nice if I could edit posts from the mobile app.