Ken-I apologize as well if I came across as a rude and crude dude. I love to ruffle feathers-but even I can see you r not the average clueless Forex Trader . Your posts are lucid and direct and the info u impart is beneficial to those in need(this is my real opinion). Just had to give u a purple-nurple 1st! I am curious how long u have been in FOREX? I keep hearing good things about MegaDroid EA as well. The price of FAP is very reasonable and it seems they have quite robust sales. I still am curious why a free DEMO Only version isnt offered. Well ,its not my company or software but that 1 item I believe is pretty much SOP these days? Can u or anyone else post a 1 day trading STATEMENT to this thread?(FAP) If possible? And again, I am sorry if I came across as the fullblooded Italian I am. Its very hard to escape ones genetics!Please keep up the postings and any info on any EA.
Ernest, I've been working with the Forex market since Oct, when the ForexAutoCashRobot first came out. That was the first I had ever heard of Forex EA's, or retail automated trading. I've known about Forex for a while, I've been trading stocks and options for a few years, but never got serious about it until recently. The potential here is sort of astronomical, if you can keep grounded, the hype and push to buy systems and robots, and to day trade is overwhelming. I am just now getting back to a longer term position trading focus, not that theres anything wrong with day trading. I havent been particularly succesful with it, but that has more to do with my temperment, I burn out too quickly and then make mistakes. I never intended to be a full time day trader, its too much work...
Less Work, More Money Working Hard Is For People Who Cant Think Well
I still have accounts in the stock market, but I havent been working too hard with them, mostly waiting and studying the shorter term swing and day trading. This is mostly my goal, besides for running a few EA's on small accounts to see what they are capable of. Stocks or Forex, I think the easiest money is made position trading on an end of day basis, this can mean swing trading or slightly longer term positions, anything from a few days to a few weeks, possibly longer, really depending on the range of movement, theres no sense giving back to much just to hold a position. The day trading is great as an add on, but not as a sole occupation. At least not for me.
MegaDroid does seem to be a very good commercial robot. I've gone through some of their account statements, just recently posted, and I like the way it trades. It seems very accurate and reliable, now all thats needed is to prove it on my own.
The reason they dont give out free demos is because they dont need to. Small EA developers give out free demos in the hopes that someone will buy from them. Large developers rely on mass marketing through affiliates and give the commisions to them. All they care about is how many thousands thay can sell, and keep sold.
Further, many developers are in it for a game thats bigger than simply making lots of money. The money is the end all that keeps them going, but the game is about being able to make the best robot, better than the other guys. This is not simply the game of greed that is so often played out in this market. This is a game of computer and math and trading nerds collectively against the establishment, and individualy against each other. This is us against them, and I wish I had a bigger part in it, I missed my calling. I could have done it if the 70's, and 80's werent such a fog. As it is, I'm not going to go to MIT and learn advanced artificial inteligence programing now. That doesnt fit the Less Work, More Money mantra. 30 years ago I would have, different time of life.
Anyway, creating the best EA is as much about proving that it can be done, and that you can do it better, as it is about the money. Sure, there are plenty of hacks out there that will sell any garbage for a buck. There are plenty of people attracted to this market from the marketing and selling fields, just as there are plenty of fools out here to sell to. The trick is finding the way, or ways, of this game. The grail, or grails, so to speak, and they do exist, and there is more than one. Money and risk managment, trading psychology, different methods, time frames, trading styles are all pieces of the puzzle. And the end result is often something personal that has to be accepted to work.
I dont know how many workable approaches I've been through that didnt work for me because I didnt accept them. I've been on a search, a quest, for several years now, to find something I could see, but did not fully understand yet. I've been through the fundamentals and the technicals, newsletters and people telling me to just follow them. And none of it is worth the effort. The problem is accepting, accepting the unknown, accepting the known, and working with it. And I find it imposible to truely accept something without eliminating the other posibilities. The goal is as simple as lines on a chart, and being long when its going up, and short when its going down, and having the experience and comprehension to accept whats in front of you, and to move in and out like breathing, without the fear of failure, or of the unknown. Really, accepting failure is part of the game, a cost of business, a tool to learn by, and the unknown is constantly in front of us.
