Being completely new to trading I’ve been looking at some of the most popular EA’s on the MQL5 Market place. The Pass HFT Prop firm EA is one of the most popular. It seems to work well on Demo accounts for winning challenges but can it be used in a serious way for trading on MT4 ? I don’t want to use it for winning challenges but just use it for trading myself with my own funds. Has anybody used this with any success ? Can it even be used to trade in your own account ? Or is it only designed to win challenges for prop firm accounts ? Cheers
Since you are new to trading, my suggestion is to learn to trade manually or if you want to go down the path of automated trading design and build your own trading robot.
Reason being…
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Trust. Buying and running a trading robot is an unnecessary risk since you don’t know how it is coded and exactly how it will react in the future. Clever sales tactics are often used by trading robots builders to make you believe it is the “holy grail” but as we all know there is no such thing. Often they post results that are curve fit specifically to a section of historical market conditions. And when you try to use the same settings it looses money non stop.
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Risk management. When trading manually yourself or running a robot you designed and built your have full control of how much you risk.
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When you trade manually or run your own robot you designed and built you have full control over what you will trade and when.
So in conclusion.
If you don’t know what the robot does behind the scenes it is not worth the risk and your hard earned money.