Are expert advisors really helpful?

And now the flip side to all that back-testing and those super-speed visual charts, now that I’ve fixed what I wanted to fix, and turned the EA on in real life, there is no super speed. No. super. speed. Aaaaaaagh! The creeping agony of real-time is unbearable!

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As of Late, Ive been taking a totally different approach… I trade light on Oanda, Using an app that I wrote using the Oanda API. This gives me way more control, as I can create an elegant user interface, also really granular lot sizes… Then , I can push larger trades, or scaled trades over to a broker that uses MT4 giving me better margin requirements. I still think that the secret to EA’s is always a hybrid approach

I’ve seen some reports on mql5 that shows somebody using EA has remarkable profit without loss!! any idea?

Hi @alisherafat, welcome aboard… I don’t use the Metatrader Platform, so I do not know which EA or strategy you are referring too.

EA’s or Bots DO lose trades, I’ll never say never (plenty here do that!) when it comes to trading these unscrupulous markets because I have witnessed some amazing things…

Put a link in a post and we can have a look at this remarkable MT5 EA and the profit it’s generating…

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Hi Folks,
this is an interesting thread.

I’m not trading very actively. My robot has been running for 3 and a half years, now and I am quite fine with its performance.

Four years ago I attended a “trading” course. The best (only) thing I learned from there, by accident, was that there are two kinds of broker accounts MT4 and others.
I dug a bit deeper and was amazed that you could script your own strategy, something I thought only big investment firms can do with high speed (high priced) hardware.

I then scripted some of the course’s strategies, just to find out they are all bull*.
Though I learned a lot about tickdata and backtests.
But the idea to switch off the human, emotional factor kept me hooked.

A few months later after coding different strategies none of them survived a decent backtest.
Yes, I could have easily curve fitted the outcome, but that’s not what a backtest is all about. At least from my point of view, a backtest should be a tool of confirmation nothing else.

After searching the web for alternatives I stumbled over those commercial (I wouldn’t use the word professional) EAs.
The price of the EA isn’t the real issue, it’s the potential loss of your account that counts.
So I bought a couple made some promising backtests and lost some money here and won some there.
Some of them were obviously risky with martingale or grid strategies.

The robot I’m currently running has been running on two accounts for 3 and a half years now.
It had some serious drawbacks, but recovered and has an overall performance around 3% p. m.

Will see what the future will bring.

Do you have a link to myfxbook trackrecord?

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It’s a private account I don’t wanna share.

:rofl: surprise, surprise!

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please send me your bank accounts and your latest tax declaration.

I’m not the president of the US … wait … he didn’t either :slight_smile:

All I said is the truth, believe it or not.

You could use a tradecopier to a demo or a small account.
It is important to be able to show a verified trackrecord to prove experience and profitability.

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I remember seeing a babypips lesson on this one:

new users can’t put link! :slight_smile:
but check mql5 website in Signals tab click on Using robots you can find some accounts that are making profit

I have noticed that EAs can be a mix of both positives and negatives. Now since the Forex markets are open 24hrs a week, an expert advisor can carry on with the trade in your absence.
The downside of EA though is that it might ignore the significant fundamentals for making or not making the trade. The best part is that you can either use an on-hand EA or create one that is based on the trading parameters that suit you. Eventually, you’ll have to make the decision. As far as best Forex advisors are related, try Flex, Fortnite, Fix Classic Trader, and Happy Frequency.

Hello all. Brand new to forex, not to trading. Can’t believe iv never found this place before. anyhow, moving on. I had heard about these EAs a while back and was very curious and this weened my curiosity got the best of me. Just got a server setup this weekend to just run one of these on MT4. So well see how it goes. I’d be happy to share the results if anyone is curious.

Hey there! Look, if you do find a good EA and use it as per your strategy, it can definitely help you make money. There’s no doubt trading becomes easier when you don’t have to worry about or spend hours watching the market without the fear of missing a trade.

Google the ebook “Forex Backdoor ForexFactory”. It may help you. :slight_smile:

Yes, I’ve been using one for a while now, and seen consistent results. Works using Fibonacci pivots, and support/resistance.

Can you let me I have a great strategy I need made

Sure, share you idea.

Nice one have messaged you.