Basically I have never been interested in EAs’ systems as I always thought it was a waste of time and money. However, I know someone who is telling me to be more open to this kind of systems as obviously even big Institutions are using algos for their trading. Does anyone know any good EA? I have been searching on internet, facebook, etc and basically it is very difficult as there are many scammers promising high profits and obviously is hard to believe. However, I am a bit lost in this matter and maybe someone could open my eyes and give me advice.
True, of course … but what they’re using them for doesn’t even begin to compare with what retail traders are trying to do when they trade from MT4 with an EA.
Anyway, my instinctive position is the same as yours, except that it’s perhaps become even more entrenched as I’ve increasingly gained experience over many years (including some experience with automation), and I now have far less interest in it and regard the whole thing as an enormous, dream-chasing distraction from the far more prosaic and demanding reality of actually making a living.
I don’t. And - skepchick that I am - I don’t listen to people who claim to, unless and until they can show me irrefutable, [I]independently corroborated[/I] non-demo evidence of profits resulting directly from using one over at least many months and thousands of trades. I’m willing to be wrong about this, but the burden of proof is high.
I haven’t seen one profitable in the long term too, and I’m in this bussines a very long time. Of course there are some commercial EAs that can show you positive Myfxbook, but you never know when it start generating losses. I think also that if someone developed really good EA (of course he will need to update it from time to time) he would never sell or share it, just put on the account and wait for the pips.
Exactly! Same happened to me, I have never seen a profitable one in my entire life but… I do not know… maybe there is one generating nice profits out there. And I am totally agree with you in terms of that If someone got something good then it would not be share with anyone. Thats what I always thought…if you have something like that…why you would need to waste your time selling your product instead of enjoying your life at the beach…lol.