There are many commercial automated EA’s out there, and I am interested in trying some of them in addition to my trading methods. I am interested in Forex Shocker, Forex Hacked, and Mega Droid.
But I am wondering if someone knows how those EA’s actually work? Especially the main technical analysis they use?
Well first of all, anybody who thinks they know what signals an EA uses is guessing. The seller isn’t going to tell you - rather he will say something about how it is based on experts who have traded the markets for 20 years or some gobblygook like that.
I think most of the EAs are probably simplistic technically and the sellers are more focused on the marketing not the technology. One very unsophisticated trick they use is to bump up the win rate to say 90% by increasing the Risk/Reward to 10:1. Most people have been taught that 90 is better than 70 or 50. Except in the markets the win rate isn’t important - its the profitability. I can do the same with most of the EAs I have written. The overall profitability is practically the same, but the win rate will vary with the R:R.
Very nice that you see it like me with this risk reward ratio of trades, Codemeister.
I think it is the same marketing trick as with megapixels in digicams. Only a few look for the sensor size or optics.
At least you can have a positive 90% chance ratio of profitable trades, but because the losers are much bigger you get an overall loss, lol.
I have visited several websites where they have tested (or at least they claim so) those robots and reviewed them.
So, I took their advice to choose the best ones among tons of forex robots. There is also another person who has a blog and check many commercial forex stuff on the net. He has actually paid money (so far $50,000)to test them. His review is very in detail and I thought I could trust the guy.
My point is that I think there are some honest reviews on those robots and other commercial forex ebooks, courses, etc.
Ok, the best way is to test them by myself and find out, so does anyone know the rules of those robots?? I have some free EA’s I have carefully chosen, but I wanted to know if anyone knows the rules of those commercial robots.
I wanted to revamp this subject.
Any new experience with famous commercial EAs ?
Stuff like Wallstreet Forex Robot …
I also created an EA after watching the commercial (Grid Trend Multiplier) EA and even I am not sure if this EA will work In long run. Back test is highly profitable. but no Idea if forward trading will do the same.
I already have set up a VPS and started using the EA. will let you know after a year if I made any profit or not.
You can look for the ea test result in youtube ( search for : GRID BOSS FOREX EA)
Download link also provided there
