Hi everyone,
I’m planning to buy a paid Forex EA for a small account, but I’m a bit confused about which one would be the best fit. I want something that works well with a low balance and has a good track record.
If you’ve used any EA that performs well on small accounts, I’d really appreciate your suggestions or honest reviews.
Thanks in advance for your help!
If you’d produced one that fits that description, would you be selling multiple copies of it on the web for a few hundred dollars (or maybe even less), or keeping very quiet about it, trading with it and making millions?
Is it perhaps possible that such things are (very heavily) promoted for sale, online, is evidence that they don’t and can’t work as the people selling them invariably claim they do?
Have you ever known anyone to make a steady living by using one? (I haven’t either. Neither has anyone else I know. Why might that be, do you think?).
How low is a low balance?
But there’s no good answer here. I don’t think an algorithm that works for all symbols in all conditions is possible. Certainly not that you’re going to buy for a low balance account.
I have a portfolio of bots that are profitable, but they’re all turned off whilst Trump whipsaws the market and nothing is predictable. But you aren’t going to buy a load of profitable bots, everything I see for sale is overfitted back test junk. Nobody shows forward test results because they don’t work.
This is kind of “the main point to grasp”.
It’s clear if you think it all through: as mentioned above, if they worked as claimed, they’d never be for sale online, would they?
There are automated trading software things developed and used (and changing hands for 7-figure sums and/or on profit-sharing contracts) but they’re used by institutions, and not for CFDs!
Hi @raihan4u2,
I want to share my experience with EA. Yes, I have been using EA since 2007. But I finally manage to use EA with certain consistency since 2011.
I’m not selling EA here.
If you are relying EA from market, I can be certain that will be none of them. Most EA in market will work mechanically, so lack of analysis. If there is one who claim can analyze market, you have to remember market is dynamic, it will always change, from here the method of analysis will become useless.
Probably AI will be a solution here, but until now, there is none to exist.
The best EA in this field will be a mechanical one. This type of EA will be either:
There are some, they clam can do arbitrage, if it does, that will be great.
In short, I can’t see any of these scenarios will fit in your condition.
The way I can use EA consistently because I develop it my self. I have to optimize the logic always. The ea needs to evolve according to market. So, for you to have a good EA, you need to know how to do programming, analyze market and develop a trading plan at the same time.
If you want to use others EA, you have to find a reliable developer. The developer has to have access to a good market analyst. Combine them together, it will be expensive. Under such condition, I don’t think the EA will be sold cheaply.
I’ve had success with the free Dark Venus EA… sooped up my PC and optimized low risk settings for it. I just used the profit and my acct funds to long MSTR last summer. The MT5 .set files I used are still valid as I used back 4yrs and forward 2yrs testing on them to mitigate risk of ruin. Use at own risk. Everything is here fully transparent… just never posted that XauUsd set file…
Ignore the MT5 signal service… they’re worse than EAs.
I once sold my EAs, but they were only taken to resell them. That’s why I don’t do that any more. All I can say is that it works and is profitable. Of course, a discretionary trader is always faster to build his wealth. But if you don’t want to study charts and news all day, Expert Advisors are a real alternative. In my opinion, the best solution is to teach yourself the programming and then you know what the EA is really doing. I mean, you let it work unsupervised 
At the same time, steer clear of martingales and similar strategies. That’s the best way to go.
I agree, not many EAs on the market that work long term. Most will fail within a year or months. Best to do what you can to always limit risk. One method I have seen is people say put in $1000 and once it doubles, they take out the original $1000 and repeat like this. (Doesn’t have to be $1000), but the account can easily lose the $1000 as well. The point is to always take some profit out and try to play with house money.
Agree, those accounts are designed to have withdraws. That’s how I made my .set files… made sure by running 5 years of simulations, they doubled a little more than 50% of the time.