Only Serious Traders please

Most EAs are not profitable but its good to have an EA that produces 6% monthly profit [B]consistently[/B]. I believe this return is adequate for those traders that view trading as an investment and not a get rich quick scheme. If you share the same sentiments please reply to this thread.

6% seems to be rather too conservative.

If you compounded a consistent 6% every month you would double your money after 12 months. Ive seen EAs come out and claim to make even a 1000% a year! 100% a month! these guys are just trying to make a quick buck off you. If you look at their test accounts you’ll see that they are using lot sizes you would never dream of using on your live account.

true, I agree, I’m new and been testing a few EAs. I think in the long run, manual trading is the best way to go. I don’t think youll ever find an EA that can think and analyze a chart as good as a human brain. but some of them work pretty good short term.
If you can find an EA that can catch trends and more importantly can filter out the choppy narrow ranges then that would be a winner.
I’m new and may be overly optimistic but I still think you can do better than 6% a month. Although to put things in perspective, even that return would beat the cr@p out of the stock market !

If only I knew then what I know now.To tell you the truth, the day I stopped viewing forex as one big money pot, is the day I started making money from it. I use a robot to trade because I like the emotional detachment it brings to my trading. However I had to scale down my bot to very conservative settings so that I can sleep easy knowing I wont lose a lot of money overnight. It sure doesn’t beat a successful manual system but it allows me to concentrate on other business ventures.
Warren Buffet makes 12-13% a year! I’m happy with my 6% a month. In forex, making returns of over 20-30%/Mo is considered possible but I’m yet to meet a retail trader whose done this over the years and has the records to prove it. The problem these kind of the returns is that the killer trade is always lying in wait…whether you are manual or ea trading.

It is conservative but, you would never go broke achieving this.

I’m an experienced day trader and a return of over 5% p.w is acceptable to me. I’ve had weeks where I’ve achieved a ROI of more than 20%. Unfortunately, these are exceptions rather than the norm.

Now I’m curious, what ea are you using?

Have you found more success creating EA’s yourself or using commercial EA’s?