Now I don�t feel like and newbie anymore, so I want to learn more about the expert advisor, If you want to tell me something about it, like the best one, indicators I can mix it with, or whatever you want, you can write here.
Tell me more about it.
All I know is they are great for trading without emotions, so Is good for everyone. They can calculate different indicators that it was designed to use and take actions when the market conditions meet the correct criteria.
Do you have something else?
Thanks
I know this is not what you want to hear, but my advice is to stay away from EAs. I messed around with them for a long lime when I started out and never found one that was profitable in the long run.
I think there is some profitable ones out there. In fact my only account that is doing good is my ea account. You need to find a robust ea that works well in different market environments but you also need to know how to trade I don’t believe in a fully automated robot where there is no human interevention at all I think eventually you are doomed to be unprofitable or even worse drain your account. You need to fully know how your robot trades so stay away from black box system like anything from clcikbank.
I personaly love my hedgegrid robot from pipforia.com you can check them out if you want but you will need a minimum of 5k and be prepared for as much as 25% floating drawdown, if you don’t have enough capital it can get very hairy.
good luck on your quest, john
This time I got to say I don�t agree with phil, the EA are good because they eliminate emotional trading, so they can help you to trade better. But felipe, I don�t know how much you beginner are, so if you are really a beginner so please, try to trade more and then you can get the EA with a good strategy to use, so, be careful when you want to use a higher tool, they can be a mess when you don�t know how to use it.
I would like to add, that you will need to look up for an EA that happens to be profitable for you, remember that you can also use custom indicators so that makes you being more involved in the process and not like someone said before with no human intervention. Also take into account that you may choose some good EA that help you to take advantage on the news or some others that only take small profits if you don�t feel confident on what you�re doing so I don�t think that you should discard EA as a trading option.
I would like to know, I understand that the answer is completely subjective, what is the ting with EA. I’ve been reading lately about EA’s being great, that they keep you more focused and it’s like a safer way to trade, sometimes. Why safer and why would anyone like to keep emotions out of trade, is it that bad to trade when feeling excited or depressed? Personally I don’t like the idea of a machine being in control of my trades, I think we must learn, from errors, from losing money, that’s what makes trading so exciting, I guess.
Hello Cuttie Annie,
I agree with you. AS you have said the while trading should keep your emotions away is very correct. Because this market is always uncertain for beginners. If you trade with emotions you might face a heavy loss. Do not trade when you are depressed because in that position you may take wrong trades and harm your account. And if you are exited go for some other thing like for a party or some outing but don’t trade. As i have a example of a person being to much exited with his profit and after taking trade in excitement had lost all his profit.
Good comment Martin, the emotions are no good at all. The key is analyze the market and get in it, more than that be smart in your orders, they can say everything.
I agree with some of your points, however I have to say that the whole Forex Business is about emotions, if you read closely about the candle charts origin you will see that they were actually created by Asians because there was a variable that was not been taken into account when trading, and they actually realized that having that variable on your trade makes you more efficient. All is about emotions between countries, politics, economies�
WOW Rit, nice thoughts. I totally agree with you and nice history lesson, where did you get that info from?
Thanks for the link. I’m learning a lot about the candle charts, didn’t thought that they were much more complex than I thought. Nice there Rit:cool:
I am glad to know it had helped you a bit. I believe that if you are seriously committed with your trades, you must look for any information concerning Forex and world economics, even history helps some times. As you can see fundamental analysis is my foundation for a good trade, along with some emotional guessing have been for me a good trading style.
I love your quote about emotional guessing!!! That’s how I started demo trading, however as you said before fundamental analysis is a powerful tool along with technical analysis. I think that this comes to all traders, you need to get used to manage economic news and indicators, that way you moves are going to be more profitable.
Hey Cuttie, I would like to know if you finally decided to go with any EA. I want to know because even though I am pro-emotional trading I really liked the EA I found trough the web, since I was just looking to gain and maintain small profits (trying to avoid the risk) this scalping EA seems to be fitting my needs. It�s like playing a video game, really fun.