EA`s. Pluses, minuses, advices...

Not every good programmer will make a good Expert Advisor with a cool algorithm. In fact, 99.5 percent of the advisors on the market are scam now.
 
To my mind using EA, for example, robots isn't quite a good idea for traders who are at their initial stages in trading activity, because they have no knowledge in trading, see EAs, hence trust them managing of the trading processes and lose their money twice faster. They'd better lose their first deposit by themselves mainly because it will teach them all the pecularities of this activity. In my opinion, if a trader wats to use EA, then he has to trade at least a year mostly because he already knows how does this industry work, thus he can choose whether follow the advice of EA on various matters or not.
 
Unless you have central bank level R&D then I think that the chances of having an EA work long term isn't a thing. They lull people into the false sense of security that forex can be easy and money can be made without working for it. This simply isn't true. I'd rather put my time into learning and practicing how to trade than the time I ended up wasting on EAs at the start of my forex journey.
 
I've used 3 in the past and they all required manual intervention.
Main thing was I removed my initial seed so I didn't lose out but didn't profit quite as I'd hoped
 
Back
Top