Just curious what EA is preferred by the masses (that is if you actually use one) and what makes yours so much better. I’m trying to sift through all the BS online and focus on a few options to make a decision.
Thanks
Jc, how long have you been involved with forex?
Hi Jar
My experience with Forex is very limited. Honestly, I’m putting myself on a 3-4 month learning course between a number of resources to get up to speed with the basics.
At the same time I’m learning i want to apply some action using EA demo modes so I can ask more informed questions. I learn better when I take some action - I just don’t want to lose my shirt playing in this sandbox until I get a bigger shovel. Dig? (sorry, had to throw that in at the end)
As a newbie, are you drawn to one EA over another?
The best EA is the one you don’t use. 
Seriously… All commercial EA’s are BS. If you don’t know how to trade on your own you’ll never be successful with an EA in the long run.
Learn to trade manually. It’s not that hard, it just requires a little time and practice. 
I agree. Manual trading is the best choice, use some tools
(ACM Webmaster Resources | Free Forex Tools these are free tools from my broker ACM)
One of the advantages of fores is that you fully control your money, if you use an EA that doesn�t explain why is trading what it is trading, then it is like doing blind trading
The traders I have seen with profitable EA’s took their own private strategy and automated it (without the intention of reselling it individually). If you want to use an EA why not base it off of your own strategy that way you know how it works.
Most commercial EA’s are looking for a quick buck. If the strategy were so good they probably wouldn’t be selling it, but would instead look to take advantage of the long term success by trading it themselves. And the more saturated a strategy becomes the less it will work.
This is exactly right, I think exactly the same Jason
Myself
I have a set strategy, and I suppose I could automate it, but there are times my human brain looks at a set up and says, “I don’t think so…”
Can’t automate that.
That is my thing with the automated trading, they are robots! You decide if change the strategy when sth doesn�t comes out as expected or there are signs of a trend but you�ll know it won�t go that way soy you say: I don�t think so, and as you said you can�t automate that. And in a volatile market as forex, you need the opportunity to change
unfortunately thats not entirely correct, for eg th ash EA is completely free and does work, you have to know when to run it though and make certain adjustments in the parameters from time to to time
Not only does it work but it works well.
However if u think u can just plug it in without any intervention at all sit back and relax to collect ur wedge after a month … forget it.
There are lots of other Ea’s that work
Those who claim EA’s don’t work are primarily people who can’t code neither are they able to understand the logic behind and EA.
EA’s do work and lots of people use them, infact I have 3~4 EA’s I run and have found them to work quite well provided you make adjustments in the code and/or parameters as the market changes
I�m not an EA expert, but for what I�ve know they have been designed to trade in a certain way, and they will keep trading these similar positions over and over again. It�s like you pick an automated strategy, and as it is AUTOMATED it is already done and set.
Can you explain me how you change things in an EA?
If you are going to place the orders and make the decisions by yourself, then what do you have the robot for?
Regards!
The simplest way would be to just change the inputs tp, sp, trailing stop, trailing step, close Ea’s manually if required, another way is to turn the Ea off avoid ranging markets if the EA is designed for trending markets vice versa its hard to know when but after a few losses u get a rough idea the time aint right. Only allow trades in the direction of the trend etc.
Just throw an Ea on ur chart and watch what happens, go on tinkering with the settings and watch what happens.
Mmm it all sounds so vague, you see my point? The lack of control and �see if works� or try for a couple of losses doesn�t seem trustworthy enough for me.
Do you use an EA or have you ever used one?
The part I don�t understand is why having an EA if you are going to turn it off.
Regards! And thanks for replying!
Please, could you recommend me a profitable EA? Since you know so much about them probably you know one good enough to recommend.
Thanks!!!
I think you have a typo there. I was curious and tried to find something on the web that matched it, I did find something called AshFX - is that what you were talking about? Might you point me to the best place to learn the details of the EA?
sure its the ash2 EA by a wonderfully talented ea writer Ronald Raygun …
please do not go live with it without extensive testing of atleast 4 months.
yes i have used this ea and several others. However I haven’t found one which works on a consistent basis. I don’t think you’ll ever find one which works consistently.If there were such an Ea it would be a money machine turn it on sit back and relax and rake in the dough every month. If that were the case everyone would be rich.
The EA’s open orders mechanically, I check to see whether i believe its the correct order for my perception of the market condition at that time. Its quite normal for me to turn the ea’s off during slow times (asian session), high impact news times. I close orders quite often prematurely and change stops for open orders.
Frankly speaking i dont see any distinct advantage to ea trading over manual trading. Without human intervention and judgement an ea left to run wild will wipe you out sooner or later.
Hey FXjohnny, I’s just like to add I do not know a lot about EA’s i’m still learning. As far as profitable ea’s are concerned i told u earlier there’s no such thing as turn it on and rake in the dough. However having said that you can try the EA’s in bobhall’s thread over at ff, they seem to be working well (still test mode though)
Also chek out longbars ea for mr ed’s mechanical system. Longbar is a great programmer and mr ed has developed a great system with proven results.
The life cycle of a mass marketed EA will start to phase out as more traders start to use it. Sort of like FAP Turbo. It was profitable at first, but as more traders take advantage of it, the edge is gone and it becomes less profitable. If it were kept private it may have continued working for a longer period of time. Who knows…
My favorite EA is me.
How many users?..difficult question and I honestly don’t think there would be any way of knowing beforehand.