Personally, I have not yet seen an EA that works consistently except for one which ironically the programmer will not take in some of my suggestions to make improvements to what it can only do.
Commercial EAs, free EAs, complex or simple I have not seen but 1 or 2 that I would trade on a live account.
The one EA that has been the most successful for me is a NON-martingale Hedging Grid Trading EA. As opposed to the view of grid EAs should not be ran on trending markets, this handles both trend and range beautifully on the GBPJPY.
Pending trades open 30 pips apart 25 up and 25 down with a take profit of £5. From a demo perspective as I have not placed this live yet, I am soon to finish a backtest on tick mode for the year of 2015 that will show me I could have doubled a small £500 account trading only 0.01 lots. It has large DD but it is a non-losing EA. There are risks, but they are very low due to the high volatility of the GBPJPY pair. Will I trade it live on my account soon? I’m still not sure.
Over 10 years of trading on and off manually, I have looked at EAs and have not seen anything that would give me the confidence to trade on a live account. I am still of the opinion that there is something out there that works efficiently to the point that I am confident to use an EA live.
If someone who is trading with an EA on a live account that is profitable doing it and is generous enough to share their EA with me, please PM me. I don’t want to give you a sob story but you would be helping someone in a dire financial situation who is struggling to keep his house.
Many Thanks & Best Regards,