Hi there,
I have looked everywhere and I just cant seem to find a consistent profitable EA.
Do these things even exist? Or is it just a myth?
What do you think?
Please let me know,
Regards
What do [U]you[/U] think?
If you had developed one, would you sell it?
If you did, and large numbers of copies of it were very widely used, would it still work?
EA’s are codified, automated “systems”, aren’t they? I think the reality is that it’s [I]traders[/I] who become steadily profitable, not “systems”. Just my opinion, of course.
I think that they exist however are either extremely expensive or the people who created them would not offer them for a common use which sounds pretty logic. Besides no EA can be profitable for a long time. It could be for maximum a year. After all we cannot just find an automated system which will bring us enough profit for the rest of our life. Maybe in the distant future could be an option. But for now the business does not work that way. It takes years to create such system and most traders prefer to use it and improve it for a personal use.
Because I utilise such “Play-School” strategies, I have coded a few simple cBots to automate some systems with varying results. They can generate huge drawdowns if left unchecked. They definitely take the stress and procrastination out of buying and selling.
Could a cBot make consistent profit?? Probably yes if the code was developed in the market and tweaked on a daily or weekly basis.
Especially with PSR type or trend following indicators… If I was setting up a trading desk I would definitely have a C# .NET API Programmer on staff. Bots don’t get sick, take holidays or bi#$% about the Boss… They don’t make coffee 
Would I sell it… hell no… the truly profitable Bots aren’t for sale.
The Funds and Banks are using algo’s and automation, so must be something in it.
One thing I’m seeing every time I look into this sort of thing recently is that the software accepts every buy signal generated and every sell signal generated.
This is not trading. Nobody takes 12 consecutive buy signals on any market and opens 12 overlapping positions. Nor multiple simultaneous long and short positions on the same market. Nor do we generally add multiple new positions to a losing position.
Sure, the EA can end up with thousands of profitable trades, and a net overall gain, but that’s not a strategy.
Yes, it is really not an easy task… If you find something worthwhile, please share the information…
Expert Advisors do what the coder tell them to do.
I coded my EA to open only one trade per asset at once.
For example if ther is one trade on eurusd every signal is ignored until the existing trade is closed.
This does not mean that EAs stacking more trades are bad but I prefer this kind of risk management.
It is difficult to find long trackrecords both for traders using EAs and for traders not using them.
This old chestnut. I’m sure the OP is still hanging on for answers.
There is nothing new to be invented here. Most strategies are successful if (Big IF) implemented in the right market conditions. No different with a bot. As the speculator, your job is to know when to turn it on and when to turn it off
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Look at the ratings.
And maybe you should choose some paid resource to get a really high quality product.
Leave it at that and try to find ways to analyze yourself that you can use on a regular basis. First, it will lead you to act more confidently. And secondly, in this way you will be able to keep your money safe.
I want to use signal providers. But I have always seen mixed reviews about using signal providers. Can anyone provide me genuine help? I am so confused.
I’m just surprised you say “mixed”. This suggests you found both positive and negative. Maybe the positive ones need a really hard close-up look.
Yes, they do exist. You can also design your own EA instead of trusting just any. Hope you find a good one.