Never use Expert Advisors. MA Crosses are late signals in general since it lags. Best way to use MA’s are just knowing that the current situation is. Price above fast is Long and Price below fast is short. Go on 1 HR chart and take 10 pips per trade… best solution I can give.
good post. but you mixed up the numbers.
3000 hours of education, 500 hours of screen time- is what you meant- i think 
3 Likes
Lol, now you mention it, the numbers might leave something to be desired.
2 Likes
Ultimately, its about finding something that works for u and adequately controlling your risks. I have created my own EA that works for me but ill never sell it. No one in the right frame of mind would sell something that they have taken much hard work and time to create unless its for a huge sum of money. I will share myfxbook link of my live account. All i can say is this, put in the hard work as no one will give u anything for free. Money doesnt fall from the sky.
1 Like
I never believed in EAs even when I was a newbie 9 years ago. But it does not mean they does not exist. There may be profitable EAs but they are not available for $47.
There is another approach which is more reliable than EAs. Thats Using analyzers to assess/analyze the market and then trade manually. I have track record to prove that my analyzers are profitable. But, neither I share them nor sell.
1 Like
Post the acc statement or link to your account then. Don’t scam.
You need to wait at least 6 months before you claim it to be something useful. And, then you will never sell it.
You clearly sell it, even to the extent of stating your monthly price for it, openly in the forum!
1 Like
Its probably better to write your own Adviser to automate the trading of your own system than to buy one off the shelf and expect it to make money for you. It is hard to answer this question, but I dont believe you can simply escape the temperamental nature of the market by buying something that automates the trading of a system.
Any trading system automated or not will work well in some market conditions and poorly in others, the trick then is to know when your particular approach is appropriate for what the market is doing.
Trend trading a trending market will make money for example whereas trend trading a non trending market probably wont. It doesn’t really matter if I did those trades myself or automated then with an EA.
1 Like
So I’ve been wondering about this for a while now.
The FX market is very speculative, and it seems from my research and time in it that that’s what moves the market. Just because you’re profitable in the market doesn’t mean that the person next to you or myself can’t be right?
So if someone shares their EA, or even just the technique/indicators they use to make trades, more people would use them and create price movement. I realize it’s a multi-trillion dollar market each day which is BIG money. But if your system, whatever it may be was successful and lead other to the water, wouldn’t it make sense to get as many people on board as possible? Even if it only gave your strategy a .0001% edge?
Correct me if I’m wrong here, and if you have knowledge that I’m missing I’m more than happy to hear it!
Cheers!
You’re wrong here.
Many people share the perceptions that you’ve described above, though (including some who post in forums saying that there’s no downside to sharing “something that works”), so you’re certainly “wrong in plenty of company”.
I think that the point you may not be allowing for is that when a lot of people want to buy something, that increases the price for most of them, to varying extents, and means that the value advantage each gets is reduced.
Or, if this makes it easier to understand: if you have inside information on a horse-race, the last thing you want is for your horse also to be strongly tipped to win in a national newspaper, because if everyone finds out that there’s value there, there won’t be any value there.
2 Likes
I can see that point of view, but this isn’t something that’s static like a horse in race. The market is ever changing and dynamic, so if you’re following the same strategy and end up missing the entry as everyone else in the world follows it Long/Short, after you have a short amount of time to catch the wave. After that you’d be looking for your next entry point long or short. That being said, we’re talking about a small number of people, even if strategy is widely successful would it be safe to say it still wouldn’t work for 50-70% of the people out there? For some reason or another, if not more, so sharing would ultimately only tip the scales ever so slightly.
Personally in a horse race, I’d rather have a better win chance than a better win ratio. If I can replicate the process and create consistency, to a degree, I would take that over higher proceeds sometimes. Wouldn’t you?
Thanks for sharing your opinion, I really am interested to see where people stand on this mindset.
To a very small degree you are correct in your theory here. We often see exactly this effect whenever there is a widely recognised support/resistance level such as the previous week’s close, a daily pivot or a frequently tested level. Often such a level will hold and then, if it eventually gives way, there is a sudden spurt in price as lots of stops get hit and many new positions get opened - but the impact is usually short-lived unless there is some kind of substantial change in market perspective pushing it.
But in reality, the forex market is not made up of millions of private individuals all speculating on a near-term trade. A vast amount of foreign exchange is based on commercial transactions where the price is simply “right at that time” for the parties involved and there is little or no speculative element at all (like when you change your holiday money). For example, most oil is bought in USD almost globally.
For example, I might be a company based in the Euro area. I want to buy American lawnmowers to sell domestically. I know the wholesale price in USD and I know at which price in Euros I can sell my lawnmowers competitively. I do the deal when the exchange rate fits these two requirements. Similarly, I might be a producer of papermaking machinery. I sell a plant to China in millions of USD and I do not want a speculative exposure with my profits before I can get my hands on them, so I lock in a level at today’s price.
In addition, a retail trader can close, and even reverse trades, in a few clicks. A large pension or investment fund cannot, nor wants to, do such a thing. In the forex world there are every kind of vessel, from rowing boats to oil tankers, and every size and purpose in between - so no matter how effective an EA might be, it will never be right or suitable or even necessary for everyone…
…besides if you told everyone, there wouldn’t be anyone left to take the other side of your trades… 
2 Likes
I chose the horse as an example because its price is far from “static”: it’s even more sensitive to fluctuations between buying-pressure and selling-pressure than the price of a forex-pair, because the overall size of the market is so much smaller.
If you see that the odds on a particular horse are 12/1 and tell the bookie you want a £2,000 bet on it, the answer will be something like “We can only give you £200 at 12/1, and then another £400 at 10/1, and £400 at 8/1 and the rest of your bet at 6/1”.
Sorry … if you’re unfamiliar with betting on horses it wasn’t a helpful example to you, I can see.
No - far from it. This simply isn’t how the markets work.
I hope this won’t sound pompous, but it honestly isn’t a question of “opinion”. It’s an objective reality directly related to imbalances between buying pressure and selling pressure. That’s what moves the prices, in the market. Many people (even quite a lot of people who trade every day!) haven’t quite thought through the mechanics of how and why prices change as a response to relative supply/demand.
3 Likes
Thank LukasVisser for your view on the matter.
Manxx,
The S/R levels and pivot points is what I was basing my thoughts off of, and expanding it to other aspects of tradings. I understand that speculative trades only make up a small part of the market, and there’s a TON of money that moves independent of price movement, solely off of price level or of of the time that is needed. With that there should always be another side of the trade right?. Besides, who would listen to you if you told everyone? haha
Thanks for he reply, it’s very well described and answers my question.
Cheers mate!
1 Like
Its ridiculous to believe that retail traders can move forex prices, either for you or against you. The scale of the market is simply too great to be affected by even the combined capital of every retail forex trader in the world working together.
There are two returns possible from sharing an EA or any other trading strategy - one is you could sell it as a system or via books/courses: the other is the benefit of getting a lot of fresh pairs of eyes looking critically at your system and indirectly helping you improve it.
2 Likes
My two cents/
Stay away from EAs unless you wrote it yourself. Blindly allowing an EA to trade for you when you don’t know how it’s written is just like voting for a politition and hoping he makes the promises he said when you voted…
EAs don’t help newbies learn to trade successfully. However - they will help you learn what not to do (which is outlined above)
3 Likes
You were, but unfortunately you didn’t really want anyone to “correct” your impression, it seems.
What Lukas explained to you wasn’t a “view”: it was a factual reality.
1 Like
I agree with all of the above. If they were that good, they wouldn’t be selling on to others… however, on the flip side, i know fellow traders who make their own EAs and claim they have bought them success… but like with trading in general, people like to tell you about their profits, and not the losses…
Ultimately, its about finding something that works for u and adequately controlling your risks. I have created my own EA that works for me but ill never sell it. No one in the right frame of mind would sell something that they have taken much hard work and time to create unless its for a huge sum of money. I will share myfxbook link of my live account. All i can say is this, put in the hard work as no one will give u anything for free. Money doesnt fall from the sky.
https://www.myfxbook.com/members/shmelmie/road-100k/236939888
Why does not function the link? Account closed? 