Hi all,
Looking to discuss whether the use of EA’s are worth it.
Interested to hear which Forex EA’s are currently the best to use?
This is depending on, how you build EA
What’s the best way to build EA?
It is a long way, for example, making research on indicators, draw conclusions from them, test strategies for different market behaviors, e.g. slippage. Everyone should find own way like in others trading methods.
Yes they work - they just follow a programmed code. Whether they make profit is a different question. They are only as good as the strategy they are programmed to follow (of course). I have tried hundreds and have settled on a pretty good one, but it is still not perfect - I do need to manually over-ride it from time to time.
It’s notoriously hard to have one strategy to suit all market conditions… I wish us civilians had access to some of the AI bots the big boys are using
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Quite right. My pro friend has programmed five or more codes each designed to become profitable to use in differing market conditions. He told me he backtested for 18 years, utilising ‘plenty of what ifs’ along the way. He trades one of my accounts for a 30% monthly fee - only charged if in profit larger than the previous high watermark.
IMO, by 2025, EAs will be a commonplace necessity. Newbies would be too lazy to get off their couch butts and learn how to trade proficiently.
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EA works just fine but ultimately the result greatly depends on the coder it just execute whatever trading strategy putting in as a code. You will need constant monitoring and adjustment base on market condition in order for it to be consistent and profitable.
EAs are not perfect because they are programmed. The market is volatile so there is no guarantee if they will work 100%.
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not perfect but still make less mistakes than human 
EA works but it’s not something you can easily find online because there is little sense making your working stuff public. It will quickly lose it edge if it really works.
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EAs work to an extent. Since they are programmed to perform a certain task, they can’t act when unprecedented market situations arise. That’s why manual trading is more preferred because you can analyse and make better decisions.
Yes EAs do work. They are programmed to follow a certain strategy and trade for you while you are offline, keeping you 24*7 online.
Yes they do, however newbies should not go for EAs. They should try making their own strategy and plans.
Yes, I agree with you. We can’t completely rely on them in a market like forex especially.
EAs do work, and they can be profitable. The problem is that most people don’t know how to use them correctly, and they end up losing money. If you have an EA that is profitable, you need to make sure that you backtest it first to ensure that the results are accurate. This will give you a good idea of how the EA will perform in the future.
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If you’re novice on the market then I don\t advice you to use EAs because the main objective for you while you’re on beginning stages is to learn on your own without any help from the other sides, because these things will only distract you from the process of learning and practicing on the market. I guess you can use EAs and they can be profitable or you only in case of having knowledge and experience in trading activitiy. When you earn good money and understand almost everything about the market you can consider trading with EAs. They work, but not always and not for every trader. You have to set it up properly.
@andersrosendahl I agree with your point. EAs have their limitations and can’t work if the market exceeds the limits that are set in an EA. We can’t totally depend on EA and we need to keep an eye on it to avoid any loss.
Newbies must not trade via EAs. They should learn to make their own strategies. Specifically, EA’s were made to remove the human sentiment factor while trading and save time. But they are limited and are not effective outside the range that they are set. So, one can’t rely on EAs completely.
People have a lot of misconceptions regarding whether EAs work. They work accurately how they are designed to perform. However, they are not 100% accurate because the market is not always the same.
It depends on concrete EA that yo are talking about. Some of the are worth the money the developers ask for, however, the vast majority of EAs are just trash which isn’t worth a single penny. I feel that the best way for a person who wants to trade with EAs is to make their own EAs and test them. In this case you have a clear-cut idea of how they work and which aspects can be modified in order to make them more profittable and efficient. More than that, you will be able to trust them. I mean that I’ll never trust some sort which is claimed to bring me the money. I feel cheated when I hear such a phrase. So, pull your full efforts to it and you will be fine.