I’m trying to locate or have someone create a profitable EA auto trading system for my MT4 account. The EA needs to be for scalping the EURUSD on the M1 or M5 charts. Any ideas?
After reading your post, that’s a loaded question that inspires several sarcastic answers.
Do you have a profitable M1 or M5 system that you currently trade manually?
If not, don’t expect someone through the generosity of the internet, to not only create a profitable system for you, but code it, and give you the program.
That would be akin to going to Warren Buffet, and asking for a billion dollars, with the expectation that he would write you a check on the spot.
Use your head… and seriously re-read the question you just posted… seriously?
Tang you replied seconds before I did…
I do have a profitable system that I follow on the H4 charts. If there is a profitable system out there that can work with M1 or M5 I may be looking to pay for it.
If you have a profitable H4 system, trade it, or pay to get it coded.
Chasing a M1 or M5 scalper bot places you in 95% of the forex world;)
EDIT: BTW, I do read your other thread. You obviously have something working right. Stick to that, and if you must, open another tiny account and play the M1 M5 stuff as a hobby on tiny lots.
One of my EAs, E/U, 5 minute chart, Jan1, 2012 - May 1, 2012:
Looks great huh? Don’t believe everything you see. These things aren’t “hands off” as advertised in most cases.
There are things out there that work, just not always as well they are advertized.
That profit factor is absurd. This is scalping?
Edit: Personal experience tells me when PF >=3, I need to start looking at the system closer… And goodness, 6:1+ reward to risk, this is not something you see in a scalping system. 147 total trades… hm… how many inputs do you have if you don’t mind me asking? 2+?
Nope, not a scalper. 30 trades a month on average negates that;) It doesn’t look for a T/P level. Price puts it in the market, and price takes it out.
It has a very tightly defined set of entry rules. But it only takes 4 lines of code to define them… Imagine that;) The EA itself is about 400 lines of code, but that includes all the functions. Which include error accounting, trailing stop, pending order cancellation, and a couple other functions like trade limiters, so it doesn’t go AWOL and open a zillion trades.
Inputs are limited. There’s a basic T/P level, a “holy hell what went wrong” stop level, a b/e level (sat to 2 pips), and two other parameters based on price levels. But no Fibs or that sort of level identifier.
It employs a trailing stop, and that trail is the t/p once it moves past B/E.
Best part is, there’s not a MA, RSI, Stoch, Boll, or anything else of that ilk in sight. It’s all about price.
Yeah I was actually in a little doubt that this was a “scalping” system, considering it only took ~150 trades in 5 months. Must be looking for some exact setups. With the large range between your average win and largest win, you can tell the TP is dynamic. 
Well done Tang! 
So you’re pretty much all automated now eh? Curious as to how many algos and total instances you’re running at once?
Clark
Scalper curves look different:
This one actually uses a dreaded MA. Just one;)
Not yet automated. It’s close though. Looking forward to it:D And when it’s all said and done, I will likely just be running
one algo on 12 pairs using slightly varying parameters on each. The trade rules will be the same, but seeing how price moves in my testing, I notice some need more rope than others to run accordingly. The trade setup is robust, I’ve done it manually and successfully so, for quite some time now. But it’s not a “one size fits all” when regarding the parameters to make it work across the board.
This is a graph of a live account. It is a scalper but it only trades about 5 time per month.
Point being, if you want a successful EA, you need to study. Or steal one.
Little does Tang know, I’ve already planted a RAT on his computer. 
Edit: Nice equity curve! It’s nice seeing a couple other algo traders on here!
Clark 
The whole point is spose to be you can write the code, test it, run it. Then be on holidays for the rest of your life.
Reality is somewhat different…
I would argue that algo trading is more time consuming than manual trading.
Of the 50 or so full time algo traders that I know, only one individual I know is “almost” at the point where he can leave his ATS for long durations at a time (1-3 months). And he’s worth 9 figures.
All EAs I’ve built so far have some periods they work and some periods they fail. I think that the best continuous success I’ve seen in backtesting was 3 profitable years in a row. Of course that would had made me a multi-millionaire if I had traded that EA for those 3 years (and would had lost everything if I continued trading after those 3 years). But I still think it may be possible to build an EA that would be profitable every month, every year, in all pairs. For this to happen, I think it should be programmed with the same guidelines that are so often repeated for successful manual trading, ie limit your losses (fixed, relatively small stop loss), let your wins run (get out only when price goes against you), stay out or at least seriously limit your losses in unfavorable conditions. In other words, I’m now focusing on low winning rate and high reward/risk ratio.
The point is win rate and R-multiple, typically have an inverse relationship. And this can usually be summed up by Profit Factor. Look for systems with >=~1.5ish you and should be good. 
IMHO, if you want an EA you’d be a lot safer if you code it yourself, rather than buying a commercial EA because then if something goes wrong with it you should be able to figure out why it went wrong as you should know the system’s process and then you should be able to hopefully fix it before it does too much damage.
Gary
Really? You think it would be easier to learn how to program, come up with a system, code it, debug it then test it that it would be to buy a commercial EA off the shelf?
At least he’d be making money.