Auto Trading systems

[Kathryn 4x]

my thought on an EA...

Hi Harmit! I'm trading in a demo still, I am a female trader as well, I'm 23 and just moved back to Michigan from California to spend time with my family members who are getting old I friend introduced me to trading forex about a month back, and if it's a good as everyone makes it sound, I'll be entering an account using an EA in the next month. There's a company I've been introduced to (i'm not sure i can mention their name), and they are the first EA on the market to use Fibonacci. Their return on their managed account is up almost 90% since april! Pretty cool!
I'm sure I won't put a whole lot in to begin with, probably a few hundred dollars, I don't have a whole lot to risk!
also, so side note, so i drove up to the Moneyshow in Toronto, CA with a few of the traders that created this EA... it wasn't too bad... but it really wasn't all that great. the only booth that even pertained to forex trading was MIG out of Switzerland. Everybody else was selling crap... and mostly Canadian crap so it didn't really pertain to me. But- it was cool to be in a place where people around me actually knew what trading forex was! Even one of our taxi drivers has an account! So funny!
Forex is cool!

 

[Doug Reo-Cocker]

Hi Harmit! I'm trading in a demo still, I am a female trader as well, I'm 23 and just moved back to Michigan from California to spend time with my family members who are getting old I friend introduced me to trading forex about a month back, and if it's a good as everyone makes it sound, I'll be entering an account using an EA in the next month. There's a company I've been introduced to (i'm not sure i can mention their name), and they are the first EA on the market to use Fibonacci. Their return on their managed account is up almost 90% since april! Pretty cool!
I'm sure I won't put a whole lot in to begin with, probably a few hundred dollars, I don't have a whole lot to risk!
also, so side note, so i drove up to the Moneyshow in Toronto, CA with a few of the traders that created this EA... it wasn't too bad... but it really wasn't all that great. the only booth that even pertained to forex trading was MIG out of Switzerland. Everybody else was selling crap... and mostly Canadian crap so it didn't really pertain to me. But- it was cool to be in a place where people around me actually knew what trading forex was! Even one of our taxi drivers has an account! So funny!
Forex is cool!

Hi Kathryn, do they have and actual EA or they just do managed accounts??
in any case would you be so kind to let me know the company name??

Rgds

Doug

 

[Cyclon]

Check reviews section

Hi Kathryn, do they have and actual EA or they just do managed accounts??
in any case would you be so kind to let me know the company name??

Rgds

Doug

Check reviews section and news and you will find that
Managed accounts can be very problematic.

Proceed with caution.

EA's must by their nature be a short term thing. Since the
variability in the market will render them obsolete at some
point. The solution to that perhaps might be to buy each
new one that comes out.

You could also keep your old ones without trades enabled
and check when they begin to work again.

Developers are doing that basically. Some will even sell free
ones with new labels - and really cool names and graphics.

Just use some common sense with regards to an idea that
there is some magic in a robot. No time invested - yes, true.

No experience for YOU either. Except when they without any
warning begin and continue to eat up the funds from losses.
That you will experience.

How will you know if it will persist or is only temporary?

For one thing they are built upon a system of failed technical
analysis that on the whole delivers a very high failure rate.
Some expertise is still applied in many cases to isolate what
is working now and putting it out on the market.

On the whole...

If there really WAS a software solution,
We would ALL be retired.

Cheers,
Cyclon

 

[Ricex]

If there really WAS a software solution,
We would ALL be retired.

Indeed, and I imagine ( I haven't checked this) that the current market is probably causing some problems for a lot of EA's at the moment who like nice trending markets.

BTW, why do they all have 2 mile long 1 page websites that say the same thing but in 10 different ways?

Learn how to trade properly and you will neatly side step this vipers nest.

 

[Doug Reo-Cocker]

Indeed, and I imagine ( I haven't checked this) that the current market is probably causing some problems for a lot of EA's at the moment who like nice trending markets.

BTW, why do they all have 2 mile long 1 page websites that say the same thing but in 10 different ways?

Learn how to trade properly and you will neatly side step this vipers nest.

Thx for all the inputs guys. Nevertheless, some EAs are delivering quite a few bucks now, I always check this site Forex Robots Competition Trading Real Money for advice, they do real money testing on some EAs. Usually I've been trading the robots that have been doing fine in this site, and so far my results are quite good.

 

[Music Man]

The key to EAs is to realize that no strategy works all of the time, but all strategies (including dart throwing) will work some of the time.

While I am not selling any EAs, I am a long-time software developer. For the EAs I write, my approach is to be flexible on the trading signals, but consistent on the order management. With the right order management, you can keep your losing trades averaging no more than 20% the absolute value of your winning trades. If you can do that, you can lose 60% of your trades and still do quite nicely.

MM

 

[Ricex]

That's an interesting site Doug, I presume your using 'forex funnel', how are your results comparing to the websites?

That particular EA seems to be using the martingale strategy which is a very high risk strategy, a vegas style strategy! if I were to trade on my own like that I would be a nervous wreck, but everyones ideas of risk is different I suppose.

 

[popularhelen]

i dont really advise the use of robots, while not perfect your risk management tools like stop and limit entry order and your broker is not a very good broker, u should consider using an ecn broker

 

[Doug Reo-Cocker]

That's an interesting site Doug, I presume your using 'forex funnel', how are your results comparing to the websites?

That particular EA seems to be using the martingale strategy which is a very high risk strategy, a vegas style strategy! if I were to trade on my own like that I would be a nervous wreck, but everyones ideas of risk is different I suppose.

I'm actually not using the Forex Funnel, I'm using the Forex Megadroid. I was going to buy the Funnel, but the support system of the Forex Robots Competition Trading Real Money, told me the same thing that it was a high risk robot, so I choose the safer track.
Nevertheless, my cousin is using the Funnel and it's working quite good for him too (I envy him a bit, hahaha)

rgds

 

[Ricex]

Fair enough Doug, good luck to the both of you.