I’m quite a beginner on Forex but I’ve managed to make 3000 EUR into 3500 EUR manually in about 3 weeks or so. Now I’ve began playing around with EAs. My broker is using Metatrader 4. Yesterday I implemented The Channel Scalper 1.13 which seems to be good but it trades for a short period.
However, I’ve began using RSI MA Scalper 1.02 modlordorly and that has been working quite well today. Earned me around 600 EUR by the middle of the day but then the sum went down to 300 EUR right now.
I am keeping it in process and will see how it does by the end of the day.
I have some questions though…
Is it OK to manipulate with the EA automatic deals? I mean can I close them manually or would that interfere with its logics?
Is it OK to use several computers with Metatrader connected to same account? So I would have one server running 24/7 and I could monitor the progress in any computer I have.
Do you think Forex Growth Bot would be a good purchase and would it work better than these free EAs I use at the moment? What about the more expensive EA called Real Forex Robot Canada FX Set 1 and 2?
I’m thinking of buying the Growth Bot today but I’d like to know your opinions first. Thank you.
Regarding 1) It would interfere with the logics AND even more important the system/strat. Some EAs can handle that, some not.
Regarding 2) Yes this is possible.
Regarding 3) That all depends on your decision. I gues nobody can really help you with that. It’s your money and your risk. I for myself would never pay for EAs nor use any publicily available with closed source. That’s just my opinion, though.
before you buy any EA consider this. If you were to spend years learning how to trade, how to program EA’s (which is pretty specialist) and then one day you crack upon a strategy that actually makes money after maybe losing money and taking such risks with your own money, would you sell it to strangers on the internet for relatively little cost, knowing they have done no work for this ?
considering the claims many of these EA developers make, and considering the little cost they are charging for it, if this were you would you sell such a thing cheaply ? Would you not first set it all up for your family and friends and maybe even your country ?
Do you not think if it were the case that any program could make such money for you, many many people would now be living a luxurious life style ? In fact the whole world could be living with no poverty if some of the marketing claims of these EA vendors were even half true.
Think about it. Then decide to learn to trade for yourself.
yes it would be. Now follow the rest of the logic and you will see that there is no such tool otherwise you would have heard about it before now, in fact probably have it by now.