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Discussion in 'Forex Company Comparisons' started by rjadhav74, Jan 6, 2011.

  1. rjadhav74

    rjadhav74 Recruit

    Nov 16, 2009
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    Can anyone help to find out the best EA software.
  2. rey21

    rey21 Recruit

    Jul 8, 2010
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    No EA is Perfect,

    Yes, the best EA. The last year was my first year checking out this issue. After demo testing: (*Custom Martingale technique)

    Vendor and private EA developers are everywhere just beware and don’t buy anything unless they had real refund policies and Live Results.

    Like a “car salesman” many sites are paid a finder fee each time they direct you to the EA vendors site and remember, “The more they talk, the more likely they are bending the facts”.

    Many of these EA’s advertise 90% or greater profitable trades, but these are also the ones with the largest StopLoss values. There is one or two that call themselves “No Loss…” EAs! Again the StopLoss values are so large you could get margin calls before it hits its profit target.

    The only two EAs that consistently made money were the two “Custom Martingale” EAs! Be warned that the “Custom” part of the term I use is to indicate you can control the range of each counter trend order step level and the Multiplying factor of each step lot size. The Basic gambling type Martingale technique everyone thinks of is where you double you bet after each losing bet. Oh, it is true that their 100’s of traders that had their accounts go to “0” using a Martingale technique EAs and I’m one of them. Fortunately for me it was on Demo accounts.
    What I learned from these ‘blown accts’ is that I set the wrong parameter values based on what the MT4 Strategy Tester offered up as the values for the highest Net Gains. Well, here is the thing you should do if you are brave enough to trade with a MG EA, don’t use the Strategy tester as your primary tool to determine parameter values. Instead determine the historical price swings of the market you plan to trade in, and then set the Step and Multi Factor to values that will keep you acct from getting blown out. For example, the GbpUsd pair is a very volatile price swings and I found that if I set my parameter to with stand a little more than a 300 pip counter trend then I’d not see a blown account. This can be seen by major price swings in late Oct2010 and the second week Dec2010. These EAs can make you money when the mkt price action is in swing mode but the risk is high when prices counter trend with no good retracement. Retracement is very important for these EAs to recover those first step trades, so the T/P setting should never be too large!

    Well this can go on and on but, its best to provide key points that you’ll see if you have not already seen.

    All the best.

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