What's your favorite EA and why

Funny thing is that i have an idea for very good EA (partial EA), but nobody is interested to write program for it.
Looks like i have to learn MQL my self and write one.

I start trading live manually but i have to spend lots of time in front of the station.

Bummer :frowning:

I would agree and can’t think of any other reasonable way to calculate.

How long have you been trading? I’m curious - no ill intent behind it.

When I started looking at doing an EA I was saying something similar. But the longer I sat and manually traded the strategy I had in mind, the more and more complex it became. Like doing a simple MA cross-over sounds simple but you run into some complex problems where you have to have it wait long enough for the lines to diverge and so on; add in a nice fat mix of sideways trading and you have to re-think the whole thing; or it just does something you haven’t quite been able to figure out. Then you become an EA programmer rather than doing what you want to do which is actual trading.

Don’t get me wrong - I think the EA concept is quite nifty but I’m kind of glad my broker doesn’t offer it because it actually forces me to keep watching, keep practicing and keep trading without having to worry about the programming quagmire.

Good questionļæ½

I see where you are going but I donļæ½t fully understand thatļæ½ how does it matter if one person or 1000 use the same strategy? The market doesnļæ½t change because more people use it. You understand?

FAO FXJohnny, but the market DOES change if lots of people use an EA.

If everyone in the world went long at the same time… they wouldnt make a profit… For everyone that makes a profit, someone must lose, afterall that money must have come from somewhere.

If a certain pattern emerges where lots of people are buying and selling at the same price points, the ā€˜competition’ (ie the people that are going short to everyone elses long) learns and puts in different trades and different stop losses. People can change their strategy, EAs cant.

So when people adapt to protect there money from the likes of FAPturbo… Fap turbo then ceases to work effectively.

This is effectively my understanding of wy FAP turbo no longer works.

Your fundamental argument is right… If everyone on these forums used a good EA… we would make money, until the people on the other side (the losing side) of our trades worked out our pattern and developed a strategy to counteract it. When you consider the opposing side of our trades is usually our broker, and that broker knows where we put our bids, stops and take profits… Its no wonder that masses of us wont be able to outwit them with EAs.

thats my understanding… if its wrong im sure someone will bring it to my attention :slight_smile:

mate, couldn’t agree more. If you are gonna spend time to read a manual, and then hours twiddling knobs and what have you, you might as well spend as much time reading up and learning what FX trading is all about…at least so you have some knowledge cos I’m sure that when you are trying to tweak it for a specific trade, you’re gonna have to have some sort of idea of the market for which you are setting up your android.

I read on another forum a trading log that completely backs Jason Rogers point of;

[I]
ā€œIt was profitable at first, but as more traders take advantage of it, the edge is gone and it becomes less profitable.ā€[/I]

can’t mind if it’s the FAPTurbo or IvyBot it talks about. Anyways, there’s no harm in having a little knowledge.