Trading with an Expert Advisor
- Thread starter jforex12
- Start date
LoRio
Sergeant
- Messages
- 484
Analyzing = Paper Trading ?
Are you on the DukasCopy java platform or Meta Trader ?
Why would you want an EA ? You have the 5 years of knowledge advantage ?
UncleSteve
Corporal
- Messages
- 114
Man, that'd be worth a mint...
FXMastermind
Private
- Messages
- 15
vic84 is right!
Assuming you have 5 years of solid trading behind you then you should be well (I mean very well) on your way to having and implementing a profitable manual trading system such that your account equity curve resembles a positive slope over time.
One thing that is missing in your experience is "live trading"! It is not the same as demo or paper trading.
The emotional and psychological demons will appear and you will need to overcome them.
Have you analysed your "paper trading" results over the 5 year period to see which months were more profitable than others and why some months were worse than others (including negatives). You need to find the answers to these basic but important questions so that you can improve as a trader.
Keep a traders log (diary) and revisit it often no matter if the month was positive or negative. You will want to know why you were successful and why you were not.
Perhaps you will not like the response I put here for you but after many many years of trading the markets I can tell you that having your own successful trading methodology will far outweigh any benefit a trading robot will provide.
Trade assistant software however has its purpose in helping to manage multiple trades of your very own manual trading system.
Research will soon show you that even the best robots may only be the best for a short period of time and when things go wrong your trade account may suffer massive losses.
In the long term it is far better for you to be in control of your account rather than a robot.
Of course if you want to have some fun with a robot I suggest that you limit the funds available to it and make sure it is only money that you are happy to lose if things go wrong!
Failing all the above then you would be best advised to firstly check out the following FPA link:
https://www.forexpeacearmy.com/test_lab/metatrader_expert_advisor
The link will take you to a number of currently running tests on both Forex trading robots, trading signals and other related trading systems.
Don't just look at the performance numbers of the top trading systems (many times the system comes on hard and strong only to drop rapidly after a short few weeks so keep this in mind) and think that you have found the "holy grail"...since most likely you have not!
Analyze the graphs (charts), equity curves and look to see how the system is opening and closing trades (lot size, time position opened/closed, trading session and risk:reward, if broker slippage is a consideration relative to this style of trading etc etc) so that you understand the way the system trades and whether or not it "suits your style of trading".
If you intend on trying one of these systems then I wish you well but would hope that you would continue to work on your own trading methodology so that you can count on yourself for true trading success in the long run.
All the best,
FXMastermind.............
Assuming you have 5 years of solid trading behind you then you should be well (I mean very well) on your way to having and implementing a profitable manual trading system such that your account equity curve resembles a positive slope over time.
One thing that is missing in your experience is "live trading"! It is not the same as demo or paper trading.
The emotional and psychological demons will appear and you will need to overcome them.
Have you analysed your "paper trading" results over the 5 year period to see which months were more profitable than others and why some months were worse than others (including negatives). You need to find the answers to these basic but important questions so that you can improve as a trader.
Keep a traders log (diary) and revisit it often no matter if the month was positive or negative. You will want to know why you were successful and why you were not.
Perhaps you will not like the response I put here for you but after many many years of trading the markets I can tell you that having your own successful trading methodology will far outweigh any benefit a trading robot will provide.
Trade assistant software however has its purpose in helping to manage multiple trades of your very own manual trading system.
Research will soon show you that even the best robots may only be the best for a short period of time and when things go wrong your trade account may suffer massive losses.
In the long term it is far better for you to be in control of your account rather than a robot.
Of course if you want to have some fun with a robot I suggest that you limit the funds available to it and make sure it is only money that you are happy to lose if things go wrong!
Failing all the above then you would be best advised to firstly check out the following FPA link:
https://www.forexpeacearmy.com/test_lab/metatrader_expert_advisor
The link will take you to a number of currently running tests on both Forex trading robots, trading signals and other related trading systems.
Don't just look at the performance numbers of the top trading systems (many times the system comes on hard and strong only to drop rapidly after a short few weeks so keep this in mind) and think that you have found the "holy grail"...since most likely you have not!
Analyze the graphs (charts), equity curves and look to see how the system is opening and closing trades (lot size, time position opened/closed, trading session and risk:reward, if broker slippage is a consideration relative to this style of trading etc etc) so that you understand the way the system trades and whether or not it "suits your style of trading".
If you intend on trying one of these systems then I wish you well but would hope that you would continue to work on your own trading methodology so that you can count on yourself for true trading success in the long run.
All the best,
FXMastermind.............
AsstModerator
FPA Forums and Reviews Admin
- Messages
- 5,748
Just a quick reminder. This folder is for non-commercial discussions. So far, I have banned one company 2 times for trying to sell their EA in this thread. A broker with a very bad history of spamming in the FPA's forums created a new account to try to promote their EA design software here. That account was also banned.
FXMastermind
Private
- Messages
- 15
AsstModerator: Nailing spammers and scammers to the wall is what makes the FPA forum so great. Job well done
FXMastermind...........
RahmanSL
Major
- Messages
- 2,939
I believe the ENTIRE forex community also want a "good EA with consistent results".
Don't you think that if anyone happen to have developed a "good EA", do you think he/she would share that with anyone else?????????
