EA Shark...has anybody heard of it?

[Kraven]

Being new to the Forex market, I have heard rumors of EA bots. I am somewhat tech savvy, and I can tell that most of the products (in terms of their actual coding) are complete garbage.

That being said, a friend of mine (who is a highly successful forex trader) has recommended an EA called EA Shark. The website appears legit, and they programmers claimed the bot has been tested for 9 years on a live account. However, the results of the bot (which are, imo, very good), combined with the lower price tag, has me concerned.

Is anyone familiar with this software? Please let me know what you pros think.

Thanks!

[4xStar]

I havn't tried this either, but checked out the website and it does look interesting. Only $100 for the manual version. If anyone has purchased it please let us know the results. Thanks.

[keydcuk]

Hi All,

I have just got this EA yesterday and am trying it on a demo account. It says it only does about 2 trades a day. It's been a no trade since I put it on but I will keep you posted on this.

Cheers!

keydcuk

[c0ol2]

I've been thinking of getting that Shark EA, dont seem to find much about it. I seen some forward testing statments they seem to have pretty good results. I have my eye on right now on pointbreak 5.0 on demo

[uptick]

Originally Posted by Kraven

Being new to the Forex market, I have heard rumors of EA bots. I am somewhat tech savvy, and I can tell that most of the products (in terms of their actual coding) are complete garbage.

That being said, a friend of mine (who is a highly successful forex trader) has recommended an EA called EA Shark. The website appears legit, and they programmers claimed the bot has been tested for 9 years on a live account. However, the results of the bot (which are, imo, very good), combined with the lower price tag, has me concerned.

Is anyone familiar with this software? Please let me know what you pros think.

Thanks!

youre asking "pros" on a site for novices.. this is called "babypips" for a reason. why ask advice from strangers when "a friend of mine (who is a highly successful forex trader) has recommended an EA called EA Shark" unless you're trying to shamelessly advertise it.

also, you gotta love a company who doesnt even post a tel# or address on their site. LOL. to me, personally, that raises a red flag (when someone doesn't post proper contact information on their site).

never heard of them...but test it properly before you continue. i noticed that their ratio is like 1 winner to 4 losers... so the ratio isnt ideal.

good luck (if youre actually interested in buying this and not just some person pushing their own product). im sure not all EA's are garbage... but you have to do your due diligence. i used to follow one and it eventually broke down big time. so be careful.

[Kraven]

Originally Posted by uptick

youre asking "pros" on a site for novices.. this is called "babypips" for a reason. why ask advice from strangers when "a friend of mine (who is a highly successful forex trader) has recommended an EA called EA Shark" unless you're trying to shamelessly advertise it.

First and foremost, there are experienced traders who know what they are doing on these forums (tymen, Piphacker, etc.). The Babypips education, is for novices.

Secondly, my friend mentioned the product in passing, and mentioned "decent" results.

Thirdly, there is no option to demo the product on the website. Rather than try it, see it fail completely, and then email Clickbank for a refund doesn't appeal to me. I'd rather pick other people's brains and/or experiences.

Originally Posted by uptick

also, you gotta love a company who doesnt even post a tel# or address on their site. LOL. to me, personally, that raises a red flag (when someone doesn't post proper contact information on their site).

Absolutely agree. Sounds like a potential horror story in customer service.

Originally Posted by uptick

good luck (if youre actually interested in buying this and not just some person pushing their own product).

I'm here to trade, not to affiliate/internet market. Understandably, when individuals see a low post # and a person commenting about a product, doubts arise. I can just ask for a benefit of the doubt.

Originally Posted by uptick

im sure not all EA's are garbage... but you have to do your due diligence. i used to follow one and it eventually broke down big time. so be careful.

Of course all EAs are not garbage, but most seem to have the trouble adjusting to changes in the market. Ergo my describing many as "garbage."

And as for research, that is what this thread is all about.

[uptick]

Originally Posted by Kraven

Secondly, my friend mentioned the product in passing, and mentioned "decent" results.

If your friend is very successful in trading forex, do yourself a favor. sit down with him, see how he trades, and let him mentor you.

they don't post the name of their company on the website, no tel# or address... you don't even know where they are located. buyer beware.