How To Start Out in Automated Forex Trading (EA's)

[Chris85]

It doesn’t make money and they want to get paid for the time they spent making it.

You and Clark could be doing this in the future? who knows LOL.

This is the reason why you should not believe every word the vendor tells you, you do your own research and take it from there… and no you wont get the code so forget about it.

[ClarkFX]

Why would a pro trader offer a class and teach you to become profitable? you mean to say those mentor are not profitable? or are they just gonna tell you things they dont even do?

Yes. Yes, I am. A “pro trader” would not teach. A mentor will. There is a difference. Some people understand the game and due to one reason or another cannot practise it themselves. Think about old sports coaches, they can coach young athletes in their prime but due to their own physical build, cannot themselves. There are doctors that smoke, etc.

Mentors may have problems with their own mind set and money management even though they know very well what they should be doing.

But how could you even throw out this argument without seeing the obvious? A mentor and EA seller is different. Because an EA can be used by anyone. They don’t have money? Well if the EA is actually profitable, they will. So your argument is completely irrelevant. At the same time, there is only a small handful of mentoring programs out there that actually work for traders. How many are scams?

You are comparing a normal EA to a holy grail, it is obvious that holy grail will never be for sale. Something in between does sell and does make profit. If you look at birt’s site you can see some commercial robot there does make money and some dont.

Again, when was I talking about a holy grail. Buddy, I don’t even believe in a “holy grail”, let alone make reference to it. What is a holy grail to you? In my books, it’s simply a profitable trading system that, in the long run will show a statistically significant edge. Applied to a large sample of traders, there is a high likelihood if it coming out ahead. Doesn’t that make sense? A system with a 1% edge is still profitable, all you have to do is increase sample size. So then, what is the “holy grail”?

Tell me how profitable is your top secret EA? since it is not for sale? it must be good right?

Again with the personal stuff. I’ll tell you enough to keep you thinking for a bit I guess. Quite frankly, I find the idea of people calling my algorithms “EAs” a little insulting. “EAs” are for MT4 only. EAs are just a subset of algorithms and automated trading. I use my own software and trade directly with my broker’s API. I don’t have a holy grail or a top secret EA. I don’t need that, because I believe in the Law of Large Numbers to come through for me. I have several algorithms (60+). All of which are not for MT4.

So now you ask why would I find the idea of calling my algorithms “EAs” insulting? Simply because I do not want my trading systems to be categorized in the same place as the other inferior products.

[ClarkFX]

You and Clark could be doing this in the future? who knows LOL.

This is the reason why you should not believe every word the vendor tells you, you do your own research and take it from there… and no you wont get the code so forget about it.

Your arguments honestly make me laugh. Come up with some actual arguments and points worth talking about and maybe we can have a decent discussion.

[ClarkFX]

Honestly, there’s no point in arguing. When you’re done with your little phase of buying EAs, then come talk. At the same time, keep a tally of how much you spent on that stuff. There’s so many arguments that I could just keep going. But in the end there’s no changing your mind until you realize the hard way.

Enjoy

[Saila_Omen]

Anyway as a noob to a noob, i calculated the time i have spent looking for a perfect trading EA and and the cross overs i lost doing that.

What i learnt is trade, and dont waste time looking for something no one has found so far.

[Chris85]

Honestly, there’s no point in arguing. When you’re done with your little phase of buying EAs, then come talk. At the same time, keep a tally of how much you spent on that stuff. There’s so many arguments that I could just keep going. But in the end there’s no changing your mind until you realize the hard way.

Enjoy

Hey Clark you silly silly man

But dont you worry about me, Im not about to buy this EA because Im already working on something for myself.

Oh did you check out Birt’s site? and what did you see?

[ClarkFX]

Well whatever it is, I hope it’s profitable.

Yes, I’ve known about his site for a few years now. Honestly would you trade any of them? After looking at the differences between 90% and 99% modelling quality, I don’t think any of those EAs are worth trading.

[Chris85]

Well whatever it is, I hope it’s profitable.

Yes, I’ve known about his site for a few years now. Honestly would you trade any of them? After looking at the differences between 90% and 99% modelling quality, I don’t think any of those EAs are worth trading.

Modelling quality? Each one has live forward test created by Birt himself and atleast 20 are in profit.

I dont really believe in demo or backtest. Live test for many months is what I look for.

[DreadTrade]

LOL again, you wont get the source code, its as simple as that. [B]If you really want it, then you better start learning how to crack and reverse engineer a code[/B], maybe you can start selling too? I bet you wont be showing your code too right?

Why not program your on EA? Anyway I don’t get what you’re talking about.

I have made firmwares and some of them took me years to develop and there is no way the public will ever get to see the code, for what? so they can steal it and profit of my years work?

What are you talking about? Just get to the point.

[B]Anyway, no one is pointing a gun at your head, if you think the ea is crap then dont buy it.[/B] Theres alot of site that talk about ea’s and alot of them are genuine users, so why not join them and see it for yourself, its your call at the end of the day.

I never said I was going to buy a crap EA.

True, the OP might be a scammer I dont know, but you got to understand why he keep it to himself. Its a take it or leave it situation, you have your money and he has his EA, no one have stolen anything here.

Seriously man why don’t you just get to the point? What are you actually trying to say?
I read your post again and again; it’s just random musings somehow presented as arguments.

[system]

Hi yes please I am seeking the best automated ones your experiences will be much appreciated

[iyappa76]

I noticed there is very little on Babypips relating to automated trading so I thought I would start a thread explaining how it all works, and how to get set up.

Before I start I need to disclose that I run an online trading room where we offer automated systems, however this thread is not an advertisement. It is purely educational, and I welcome any questions any of you may have relating to how to trade Expert Advisors and signal services.

When I started out Forex trading in 2010 I only learned and practiced manual trading. I even used the school of pipsycology for much of my education. After a period of about 12 months (of losses) a friend of mine showed me how he was trading forex through automated software. I found this incredibly fascinating! The concept of a computer system trading the market for me, or that I could design a system and completely automate my strategy caught my imagination.

Since then I have researched, practiced and traded with dozens of Expert Advisors (software used to automate a strategy, aka a robot or EA). Most of them resulted in losses, but through these experiences I have learned to identify quality systems. At the moment I’m trading around 10 different automated systems across accounts totally close to $40,000. Some of the systems are from commercial sites and others are my own creation.

If anyone has any questions on how to start out in automated forex trading or designing their own system (don’t ask me programming questions, I outsource the coding) please let me know. This is something I’m quite passionate about.

Right now there are thousands of poor products across internet giving misinformation, and nowhere for traders to get all the data they need so they can learn how to start automated forex trading. Hopefully this thread can go part of the way to offering advice on the subject.

It’s actually easier and far less stressful than manual trading, but it takes a while to work out how it’s done.

So, who wants to know how it’s done?

Regards,

Nick

… would you be able to spend some time discussing it… we can chat over