Been trading about 5 months now,. Now looking at EA’s and there are loads out there!
Could anybody recommend one please?
Why are you turning to EA’s?
And like a strategy, It would probably be best to discover one that suits you (and obviously is profitable). You would hate it even more if a robot is losing you money, rather then yourself haha 
hi,warrengilbert23…how r u?
do you think…that ea’s give u the profits?
always remember…there is word…after ea…[B][I]DRAW DOWN[/I][/B]…
IN MY EXPERIENCE…(EVEN I AM ALSO A NEW TO FOREX)…I HAVE SEEN 4 FRIENDS…GOT BLOWN THEIR ACCOUNTS…
EACH ACCOUNT IS OPENED WITH $50,000…
I AM NOT TELLING THAT EA’S WRONG…BUT…1 THING IS SURE…THAT IS THOSE R NOT PROFITABLE IN LONG TERMS…
THIS IS MY ADVICE…ENJOY THE TRADING BY MANUAL…U WILL SUCCEED… K…ALL THE BEST…
“Best” EA is usually one which is based on your own strategy. If strategy suits you - then EA would suit you as well.
If you just take any EA and put it into real account then most probably your money will gone away…
Trading an EA that you don’t know or don’t understand is the quickest way to lose your money.
So instead of asking people for recommendations, better look through backtest the EAs yourself, and then take the one with the most profit and lowest drawdown. Keep in mind that 95% of all EAs posted on web forums are not tested and unprofitable. You have to find the 5% that might work.
Completely agree! Find a strategy you can work with manually and know how it works manually then get it made into an EA I e life the guys here say understand the EA, test on demo before going live!
Keep in mind that there are very few profitable EAs. When you found one, just use it! Money talks. It doesn’ matter if its strategy suits your psychology or not.
True very true if it works it works!
I would stay away from scalper EAs. Honestly, I can’t imagine how they can work…especially when so many brokers scam left and right trying to hit close stop losses. I have an EA you could test, I just added a monthly pricing option for people who do not want to spend too much money right away, without testing. I update the EA all the time, because it wouldn’t work long term otherwise. Right now the profit targets are 50 pips for EURUSD, 30 pips for GBPUSD and 60 pips for GBPJPY. Stop losses twice as high. Last update was performed this weekend, since then 4 winning trades this week, +170 pips. If you are interrested, PM me, I don’t want to start here with a cheap spam.
I’d suggest going to Forex Peace Army and looking at the tested EA’s. There are a few profitable one’s to choose from.
Stick to the one’s trading live accounts, a number are on demo and the results are kind of meaningless in my opinion.
This is a very good idea, at least at Forex Peace Army you will be able to see how good EA’s. For me this is what i did and i found out a few i was considering buying were copies and turned out to be losers.
Also any EA that you plan to buy watch it for quite a while, for example here on babypips i am watching a few EA threads which are commercial. So far by spending the last few months reading the threads asking questions about the EA’s and seeing how everyone else is getting on with it, there is only one which i would consider buying but even then i am not certain, hence why i will not recommend one.
The alternative is read the manual strategy threads and work with people who are trying to turn a manual strategy into an EA. It is a longer route and requires more patience but by the end you will know 100% what the EA does, how it works, when it trades and you should be able to quote the trading rules off the top of your head and you should be able to look at a naked price action chart, maybe add a few visual aids and you should be able to work out how it trades.
But this comes with alot of time of back testing, forward testing, looking at the drawdown, testing various settings. For myself as i am a techie in my day job, i quite like this, i am yet to find an EA i am 100% close on using on my live account, but im testing and working with others on babypips.
But i do warn you it is not as simple as sticking the EA on a chart and walking away. If you do that you HAVE TO BE CERTAIN about the EA.
Also just as the EA looks good after a few days or a week of forward testing does not mean it is good ! You can make money with EA’s there are a number of people here on babypips who do, but they will tell you it is not easy and it takes practice and experience.
My experience with working with others here on EA’s has actually taught me alot about manual trading and has taught me how to use Fibs properly and price action. I am learning these things so if i do use an EA i will be certain 100% how it trades and what it does so if i have a series of losses i can look at the charts and go “ahhh thats why its loosing” instead of “what the hell !!”
Follow the good advice of everyone here, don’t be afraid or put off of EA’s, just become knowledgable of their strength’s and weaknesses. If it is a commercial EA you are looking to buy, make sure it is on a live account and find a thread on babypips or elsewhere where people who are using are actively talking about it, and not just saying “great EA, makes a bucket load of cash !” As long as people are being objective and critical of the EA in a positive way (unless there is a good reason), watch the thread and ask questions.
Practice and patience.
Good luck with your trading
u can see this thread
i’m sure u will all like this EA