Are there any good reliable EA out there?

Please do not spam here.

Not sure if heā€™s spamming, but that site is a rubbish site, lol.

All EAs are innocentā€¦Just settingā€¦play important roleā€¦

what about the Forex Multivers and the Forex Overdrive those two are winning a lot on the Real Money Accounts Competition at forex-robots.com. I believe those two robots are very solid, I will give them a chance on my account.

Iā€™m sorry, but they are terrible EAs.

Gā€™day,
I started testing FX Overdrive on a demo account on monday with a $5000 start deposit.

It recommends using EURUSD and GBPUSD, but hey Iā€™m testing, so I put all the pairs on my brokers list in there :D. The minors won some but lost some $90 trades etc up to a total of $300. So I deleted them and only went with all the Majors.

It trades regularly and the trades float in the negative however they all seem to come good and it has had no losses. Now being friday, the profit/loss is up to $1233.96 so far! That would be $1533.96 without those strange currency pairs :rolleyes: I cant complain about that, half wishing it was a live account but Iā€™m going to do alot more testing before I do that. I will keep you posted.
Azza

This week added another $439.73. It had one loss of $393.60, I left all settings as standard and Overdrive has a large stop loss.

Ahren welcome to babypips. I personally love fore overdrive it is an awesome ea. In fact the creators of that ea have created a new one called growthbot. I am going to buy that either today or by monday and I will start a thread to track results. If it is anything like overdrive I am excited!!! They offer an investors password so you can log into there live money account and so far it is doing very well.

I will say definatly watch your risk with overdrive becasue if you get greedy it can lose and it will sting. Having said that in the entire month of december I had two losses one for -2 and one for -19 pips and a total of 18 wins for a total of +307 pips. Remeber these are crappy December results and they are only gor GU and EU. Very promising indeed!!!

Iā€™d be wary of any Martingale systems.

not just wary, but keep well away.

I would agree to stay away from Martingale in its standard form and I have personal experience of that!
However, in this case it is incorporated into hedged trading, uses the concept but adopts an opposite principle the Martingale uses and resets to initial lot size at a low predetermined level. Long term testing has shown that the new mathematical thinking in this approach is working.

do you know any ea that can do that mathematical thinking.Im looking for an ea that will tp on base on balance profit.

I write my own EAā€™s (I was a C programmer in the 90ā€™s). I discovered the simplest EAā€™s yield the very best results, however, you have to let it do itā€™s thing. Take the market right now. Look at gold$ and others. Chop-chop. No strong direction. [B]Patience[/B] is the main ingredient. We love to be in the action, so too many trades are entered and then closed too soon.

  1. Use a more simple system
  2. Do your analysis based on past results
  3. Have confidence that past results will be repeated
  4. Implement your simpler EA @ 10-20 cents/pip for a month

Except for initial testing, I do not recommend demo accounts because the psychology is so much different.

Iā€™m completely agree with dennis681. Yes Eas work
Some people donā€™t trust in them, but donā€™t forget that in forex thereā€™s not guaranteesā€¦thereā€™s not a system 100%reliable.
I think there is a problem, not with EAs but with some traders. Some people take a high risk to generate high win rates automatically, cause people like to win"" ā€¦If you think that with a simple ā€œclickā€ youā€™re going to be rich, youā€™re wrong. Thatā€™s not the way.
You must be very careful, and adjust the risk setting to your account, and study the drawdown that your account can support, the history of the signal, the best stop loss ā€¦ Thatā€™s the way to trade with autotrading

Iā€™m not sure what this means: ā€œtp on base on balance profitā€. Can you claify that a bit please?

tested trades good on a heavy reqoute spike ok. ea close one close all.

means take profit on all open order by this ea. canā€™t upload platform pic

Re Grid, Hedge & Marginale Bigor is seeking, I do know of one that does all that and is not a black box system. Also the Martingale is limited in the levels it can run to and the developer has tutorials running that demonstrate how to trade wheneve that limit is reached, which would be a few times a year.
As its mathematical there is quite a bit of maths involved for those who like the detail and the developer, Bob has been happy to discuss with serious traders.

It does come over as a serious trading tool for more experienced traders, but one that does seem capable of 70-100% per annum returns. For some that is not very exciting but I reckon its pretty good when professional traders who are full time are looking at 30% as their target for a good year.

Thanks bigor; thatā€™s a bit more clear. Still not sureā€¦ Anyway, every EA I have written will auto close an order based on TP or reversing candles or some indicator. Is that what you mean? Also, an EA can close a trade as soon as it makes a profit, but that would not be efficient. Feel free to ask another question if I still donā€™t understand your original.

Trading a martingale would be a death sentence. I think itā€™s better not to trade at all than trade a martingale.

A martingale would, but not a modified one that a) allows it to only move up x levels and b) has a defined plan on recovery if the last set level was reached. That has been done and traded to prove the process of reset in action with a steady growth in equity in standard trading mode and in reset mode back to pre drawdown stage.