Hi to everyone on here, My name is Andrew and my username is akingsail. I have been trading for just over three days. I am currently running MT4 on a City Index dummy account. I am based on the Costa Blanca in Spain.
Although I have been trading for such a short time, and I have not gone live yet, I am totally hooked! I am hoping that being part of this site will give me the opportunity to learn new profitable strategies, and to be able to pass on to others, my experiences. because I spend so little time in front of my computer, I am particularly interested in genuinely profitable EA’s, as I guess most of us are!
Well, thanks for reading this, and good luck everyone in your trading…
Be carefull not to put all your energy in EAs from scratch. A deep understanding of the market and to gain experience through manual trading is important to learn forex. EAs are only tools and cannot be better at trading than the guy coding them.
I know it’s tempting to have an EA trading for you while you sleep and work. But from my experience, it is not as good as it seems. Do not be impatient to make profit, the journey you started will take months, and more likely years. If you try to be profitable in a month you will loose money.
Sorry to be a bit pessimist, but that’s experience talking
Thanks Orpexo, I have like you, come to the conclusion that there are some profitable EA’s out there, but they have to be carefully managed. I have one, which makes shedloads of money in a volatile but ranging market. As soon as there is a breakout, it will blow the account. I also think it is possible to program a profitable EA. BUT, you will never find one for sale! They are too valuable.
I think it is wise to have a pessimistic streak. It’ll keep your account safe! :5:
Hello Andrew! Glad to have you in our forex community and it’s nice to know that you’re enjoying your learning experience. Just keep on practicing and maybe start developing your EA so you can work your way to consistent profitability and eventually open a live account. Best of luck to ya and see you around!
Thanks for the good wishes PipDiddy. It’s great to be part of the Babypips community. The more I read and learn, the more I realize the value of this amazing depository of knowledge and how little I know! I am gradually developing a manual strategy based around the itmf_sigalert indicator, pattern recognition indicator and a stoploss and take profit ea. How to combine these into a functioning ea is the interesting question! I am working on it…:33:
