I came accross this EA

[topgun]

I never said they don't work because I'm sure some do work but if someone does not have the right mental framework on how to trade, then they are doomed. If they have no money management skills, they are doomed. What good is the EA if it gives a signal just before an interest rate statement? I am even considering writing a few EA's myself for the systems I use and I'm sure they will work because I have been using them myself before they even became an EA. I guess my point is an EA might work great for an experienced trader who has plenty of trading experience but the same EA won't be worth squat to someone who hasn't even been through the babypips pre-school because there in too much of a rush to become the next George Soros .

Topgun

Originally Posted by ckowyong

to all the automated trading system skeptics out there, there are Expert Advisors that really work.

it's not easy finding them, but they do exist! if you've been in it long enough, you'll know that the free ones are not it.

*peace*

[topgun]

I never joined the private forums so let us know how they are if you join. I just like reading the forums and downloading the FREE EA's & indicators to learn from.

Topgun

Originally Posted by FseXy

Not bad links but to have access to the elite section of TSD you need to subscribe.

- Users who subscribe will get access to the private supporters forum where performance of 25 expert advisors will be reported every week.


That part sounds good, could appeal to all newbies interested in EA's. $12 pm

[FseXy]

Originally Posted by topgun

I never joined the private forums so let us know how it they are if you join. I just like reading the forums and downloading the FREE EA's & indicators to learn from.

Topgun

I tried the elite section on trial for 1 cent but didn't have much time to study many threads, there were quite a number of EA's uploaded into that section of the forum to keep one busy for enough time but I cannot say how good they are because I go of my own personal experience by testing them if I think they look good from what others have to say. I ended my membership to the elite section because I do not really have time to test many EA's right now and think I should not waste my time if I am paying for it.

The EA's are tested thoroughly over months and years.

I just wish I could easily stumble across an EA on this forum or TSD that would give me consistent profits without having to worry about any bad drawdown. I do actually have two EA's testing now that do this but have to be careful about when not to trade the EA or it loses its profits. Nothing is perfect though.

[FseXy]

Originally Posted by ckowyong

the link you gave... it's from the same people behind FOREX - EXPERT - ADVISOR . COM | ORDERS.

i believe they are russian programmers, and by looking at the small take-profit targets of 7-8 pips, i am almost certain that their strategies are mainly scalpers.

if you email them, they will provide you with a read-only MT4 login ID and password to look at a forward-test account. the one for EA_High-Profits_EUR-USD looks promissing. but being scalpers, the profits are small and the risks are high. however, the hit rate of this scalper is quite high... so i think that it's got some potential.

that said, if you are trading live with any EA, i would suggest withdrawing a certain X% of profits everytime it makes 2X%. i've been doing with some success, and i feel that this helps to preserve capital and at the same time leaves some profits in the market to help it compound.

with EAs, trade with money you can afford to loose, and protect you capital by withdrawing profits. have fun!!

Thanks for the advice. I do like the idea of scalpers, I do but I just need to find a good one or one I can learn to manage correctly. I do not mind small pips as long as it trades often enough, 5pips a day would make several hundred thousand dollars each year. Depending on lot size and account management, etc. Not bad really.

[FseXy]

Originally Posted by topgun

I never said they don't work because I'm sure some do work but if someone does not have the right mental framework on how to trade, then they are doomed. If they have no money management skills, they are doomed. What good is the EA if it gives a signal just before an interest rate statement? I am even considering writing a few EA's myself for the systems I use and I'm sure they will work because I have been using them myself before they even became an EA. I guess my point is an EA might work great for an experienced trader who has plenty of trading experience but the same EA won't be worth squat to someone who hasn't even been through the babypips pre-school because there in too much of a rush to become the next George Soros .

Topgun

The mistake traders make is that they think EA's are an easy way into learning how to trade, they can be a good way of seeing how it is done but not as good in my opinion. They are not fully automated in my opinion either because you cannot leave them on every day without monitoring them closely and making sure they do not trade high impact events. That and then even more management, so it may be easier to trade manually and have it all done at once instead of taking the risk of forgetting.

I also do not believe an all market condition EA exists at all, sure some may bounce back after loses but that may take weeks or months, so loses that do good damage to the account balance still happen, meaning an all market condition EA does not exist, again just my opinion on EA's, I still do like them and would like to find one that suits me, I like scalper EA's but need to find a reliable one. I prefer trades that take place close together daily, the more trades the better, just as long as few losing ones.

[FseXy]

Originally Posted by ckowyong View Post
to all the automated trading system skeptics out there, there are Expert Advisors that really work.

it's not easy finding them, but they do exist! if you've been in it long enough, you'll know that the free ones are not it.

*peace*

__

I am not so sure the paid for ones are either, if so how many dollars do we need to spend until we find one?

Do you know of any of have a recommendation or even a possible one to try?

I would happily pay for one if I think it will work. Just as I have done in the past, and I am not sceptical. Just wish i could find one fast that was reliable.

Have you been reading my posts on here and TSD? I mean I have free ones that make profits but burn out (not blow up) if I do not turn them off when they need to be off and I am not talking about news events always.

What kind of returns each week and month are to be expected, roughly? I have free ones that make the same amount each week because they lose some profits then re-make them. If I could get them to work they would make roughly 80k a year with loses included, but maybe I need more experience or testing or something or different EA.

I will check your blog out, thanks for the invite....

[ckowyong]

you are absolutely right that an EA needs to be stopped at certain times. i believe the market either trends, ranges or gaps/breaksout... depending on the market conditions. i believe each EA is only good for a specific kind of market. a bad scalper could potentially be disasterous in a good strong trend.

in my opinion, knowing the strengths and weaknesses of an EA is critical before trading live with it. so if you have already found a free EA and know when it's supposed to be on or off for best profitability.... i think you may have found a true gem.

wishing you success!! - ck

[FseXy]

Thanks, I will sure to share the results once I feel I have perfected it as best I can. Will keep up the search as well