What are your thoughts on the use of automated trading systems or robots in Forex trading? Have you had any experiences or success with them?
remember to back test the EA in the past week and also remember that EAs are profitable only for a period of time. so you cant expect the same EA to be always profitable, you should change your EA regularly. if you follow these tips, you can have a profitable automated training.
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I think it can be beneficial but regular monitoring and adjustments is necessary to adopt to changing market conditions.
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In my opinion, the best way to utilize EAs is to create and exclusively use your own ones. MQL Market offers a wide range of scammy products created by third-party developers, many of which come at exorbitant prices. The probability of these products blowing your account is very high, given the fact that a significant number of products (or their stats on live accounts) are being withdrawn from the store on a monthly basis.
So why wouldn’t you use your money to properly develop your own hybrid/automated system through research, development, testing, programming, and other means, instead of enriching scammers from all around the world?
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I agree with @ThePipTrapper. An EA should be an extension of your proven, profitable strategy, not some random one that someone else is selling.
Develop a strategy that is consistently making you money, then automate it.
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thank you, and yes, that could be a wonderful idea on which I will work.
Because there are several advertisements on them .Yes, I have to be cautious about it. I do agree.
surely it’s very obvious to avoid those, at least?
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have you ever heard of anyone buying an EA online and making a living by using it?!
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if you had an EA that was robust, and could steadily make you good profits, would you be advertising it online and selling it to other people for some (usually small) price?!
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do you think that people advertising EA’s for sale have trading skills or marketing skills?
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f you had a good EA that worked reliably, would you sell a few copies for $300 each, or use it to pass an FTMO and/or MFF and/or Lux funding challenge, get the $1,000,000+ in funding and just make $50,000 per month with it yourself (and that’s even if it made only 5% per month)?!
these are surely not difficult questions to answer?!
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Perhaps it is, but knowing what other people think about everything could be beneficial.
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I am not familiar with them and haven’t used bots.
Of course without EA trading is hard, at least you make informed decision which is good.
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I believe I have said it before somewhere in a past thread but it deserves repeating. When it comes to forex trading everyone should try everything at least once to see if it works or not for them. Expert Advisors are no different.
Who knows…you could try it and from that experience you get an idea which might actually turn out to be a profitable strategy. I might add that a lot of the times profitable professional traders usually eventually end up turning to EAs to automate some or all of their trading to lessen their workload.
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Yes, it is a good idea to use an EA. Getting an idea from experience and also knowing others’ opinions is really helpful. I will give it a try.
Do you utilize it frequently or only when you’re starting out in trading and need a hand?
you say that. but you haven’t even tried to answer any of the 4 questions i asked you, just above …
maybe you don’t think they’re important?
or maybe you only really want to hear from people who agree with you, but not from anyone who has perhaps thought it through in a little more detail?! 
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Yes, some traders claim to have purchased Expert Advisors (EAs) online and achieved a degree of success using them.
It is an obvious answer , no. and the decision to sell or keep a profitable EA varies from person to person and depends on their goals, beliefs, and business strategies.
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I am curious about them when I see traders giving them advice, and I do not entirely agree with the use of EAs. I enjoy contrasting views that are in agreement and disagreement.
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I appreciate your opinions and thoughts. And all viewpoints.
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The first goal is marketing for EA sellers.
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