It is risky - even to go out from your apartment))
EAs does work! It’s only essential to find the right one for yourself with the matching your expectations.
As an example, many has troubles with amount of trades (too much or not often enough), some are not satisfied with risk settings (too much for pussies or -in other direction - way too scary) and etc.
That’s why there are so many opposite opinions about the same systems.
Just find the right one for yourself. That’s it.
which EA are you using? Are you programming your own on MT4?
I am looking for the right one.
Any suggestions?
I use Profx.
So far I like it.
Where do I find it?
As I know, it is not allowed to post direct links here.
You can find it in Google by keyword “Forex21 ProFX”.
No, I use a commercial one.
Which one?
First off, I agree 100% with the fact that if someone develops an EA that is profitable after 10 years they wouldn’t sell it. I actually HAVE developed an EA that is “more than profitable” no matter how far back you go. And you are right. I will NEVER sell it.
But I do have one question. What do you mean when you say sometimes the EA will “stop working” in hours? Are you saying that if the EA isn’t profitable after a couple of hours then it “stopped working”? Please clarify.
yes but with high probability of longterm statistic in the past (>=5 years)
The EA is meant to function on certain market conditions. When those conditions change so will the EA performance. The market can change at any time so if you purchased the EA and the market conditions change in a few hours (bad timing I guess) you will only see losses.
My first post in babypips :8:
As a programmer i say Yes, EA does work. It is the money management and strategy that matters. Once that is programmed, EA should work for you.
As in any business, you should monitor/manage your EA.
EA is difficult to handle. You must have some programming skills in order to understand how an EA works and how it’s placing and when it’s closing orders (or the person who build it to explain to you how it works). As [B][U]forexspidey [/U][/B]mentioned correctly, you should always monitor your EA’s trades. There are many fake EA’s all over the forex websites and people promise you 100% success and profits, but in reality usually the opposite happens.
This is so true.
I also try to find a connection between price and value.
What I mean is that a good EA cannot cost 29.99$ right?
What is the typical price for a really good adviser?
200-400$ I think.
Who will ever sell something really good for the coins?
None of them worth the money.
Is it possible to fix price for profitable EA? I dont think so.
The problem is, it is not the EA which fails. It is actually the strategy fails under different market conditions Or EA is not programmed as per manual strategy. If we code as like manual strategy, there should NOT be any difference in results.
The price really doesn’t matter. You can have a $99 priced EA, which might double your account in two months and then crash (wiping out all profit if you didn’t withdraw), and you can have a $2000 priced EA that will make 15% and then crash. What matters for a decent EA is to have good support after you purchase it; the developers will then update their EAs as market conditions change. Otherwise the EA will crash sooner or later, no matter the price.
You mean “… what [B]you’re[/B] saying”, I think (since you seem to want to draw attention to grammar)? This is an international forum, and English isn’t everyone’s first language. I think it’s helpful to make allowances for that. :5:
On the substantive issue you’re asking about, I think an appropriate question to be asking yourself is “Do I know even [I][U]one[/U][/I] person who’s actually making a steady, secure living by trading forex with an EA?” (I don’t, either. I suspect there are reasons for that, too.)
