FPA Introduces EA Performance Testing

[journeyman]

Yes, I agree with you. But I also know the fishing-net can catch fish, so why the fishing-net producer not keep all fishing-net for him self but he sold for fisherman ?

Good question, but inappropriate comparisons:

Fishing-net is not a money making secret, anybody can make one if you're willing to spend the time and efforts. The seller is giving you his time and hard work in exchange for your money. No contradiction.
Money making machine, why would I give you my money making secret in exchange for your money? Pay me $30 and I'll tell you a money making secret? Someone is asking you for some money so he can tell you how to make money? You see the contradiction there? I receive a lot of junk mails of that sort everyday. I bet you do too.

I'm not saying it's impossible, but the chance is very very slim. Have you found any real money making EA so far after all these years?

 

[journeyman]

You guys know that EA's are a scam right? A computer program cannot consistently make profits in a market that is manipulated and inconsistent. Show me one EA that has been profitable for 6 months.

You're absolutely right. But most people on this forum might have a hard time accepting that. Reality is sometimes very hard to accept.

 

[Ken Long]

Journeyman,

Why do you say this? In both cases these are very questionable statements. The simple fact that your here lends doubt to the credibility of your opinions. If you truly believed either of these statements you would be doing something else. It appears that you are still searching for the answers and the truth, and still entertain the posibilities.

Are EA's a scam? EA's are nothing more than a program. Commercial EA production is certainly open to the scam potential, and the abilities of these programs are still being explored and discovered, but to blindly agree with a fools statement like BlueStealth puts forth, is just ignorant. There are plenty of EA's that have been profitable for 6 months, it just depends on your level of greed and your expectations.

Again, using a computer program or any strict mechanical system to make consistant profits in a changing market may be a difficult assumption, but its not necessarily impossible. It all depends on the rules that tell it when not to trade, and the adaptability to switch systems, and to assess risk and probabilities.

I'm not making any personal claims here. I dont have all the answers either, but I know its important to keep an open mind if you want to learn anything new. Otherwise you might as well just work a job.


As far as selling money making secrets, these arent secrets, they're just trading programs. Some may be better or more sophisticated than others, but there still just tools. There are lots of different reasons to create these other than the greed that seems to permeate much of this market. As with any trading knowledge, some people have already made their stake and dont mind sharing the source, and others are motivated by different desires. True wealth comes from creating and sharing, not simply having and taking.

Programers aren't necessarily traders, they dont always take as much pride in hoarding it all for themselves as you seem to think. There are bigger games a foot, and money is just the standard with which the game is played. Its certainly nice and its certainly necessary, but it isnt the ultimate goal.

 

[neju74]

I am confused about EA

Hi I am Nezzar from Ecuador, please someone tell me about a good EA to try on a demo account and then go live, There are so many EAs on the market that I am very confused or It´s better If I use a signal provider, or both are scam thanks in advance for your help!!

 

[Ken Long]

Nezzar,

There are many good EA's to try on a demo account. Try reading the FPA software reviews, and pick one you like the sound of. Preferably try something with either a 60 day money back guarantee or a free demo policy. Beware of any EA's that dont offer a way to test them without risk, and always work on a demo account until your completely satisfied, and even then be very careful, real accounts often trade much differently than demo accounts.

Dont think somebody can simply tell you which EA to use. Generally people like that have some sort of an agenda, beware of anyone recomending Forex products and offering a link to buy them through. This market is full of affiliate advertisers who sell other peoples products for large commisions, and they generally pump whatever is hot at the moment and pays well. Your better to read the reviews and consider what people have to say, but beware there are a lot of reviewers who complain just to hear themselves and to support their own ignorance.

You may quickly find that EA's are an evolving concept, and that there arent many/any that really perform over time. Some perform well over a period and then blow up, some just never seem to hold a profit. This is more of a search than an easy finding. Try going into a mining camp and asking where you can find a good gold mine, you'll have about as much luck as asking for a good EA. There may be good ones out there, but the poor ones outnumber them and are more heavily promoted.

 

[ernest8fingers]

Your opinion is valid

You're absolutely right. But most people on this forum might have a hard time accepting that. Reality is sometimes very hard to accept.

Though I agree that all opinions are as valid as any here, I have to agree with Ken this time(OMG maybe Hell has froze over?). I was able to move my family from Florida, not work a dead end job since Sep 2008, and bank(save) money all because my EA is crap. Yea right! You limit yourself and your future when you discount something out of hand. My reality, Journyman, is much better than than the one I left behind in Florida. Not because I am a better trader than you,or anyone, but because I wont accept being a FOREX loser. ( I was my 1st 3 years- $6000.+ flushed down the toilet) I mean if someone is making money here why cant I ? Well I can and I do. Not everyday but enough to keep me involved. I admit EA's are not for everyone(thank God) but they are the exact tool I needed to be consistent .

 

[sojidavid]

try fx booster ( EA)

hello,
Please i want some comment about fx booster ( EA)

 

[5of7]

We Live By EA's (Catch a good inhale)

First let me clarify, that by EA I mean an automated trading system. In MT4 they are EA's.

We are system traders and I can assure you that automated system trading works. All of ours are based on some technical analysis, and are scalping (very fast, very frequent).

One thing I can assure you of is that ALL strategies draw down. All of them at some point draw down, they have too. They breathe at some cycle as they come into sync with their view of the market, and then go out of sync with the market. When they go WAY out of sync, they draw down hard, when they are partially in sync, they languish.

So if you buy a commercial EA, without judging whether it's "good" or "not", consider it will draw down at some point. What you want to see in your back test is the average drawdown, and then the biggest.

Once you know what the average and biggest drawdown is, you can try to wait before switching an EA into live mode until it is finishing up one of it's average drawdowns, and use a system-stop-loss (switching the system back to sim mode) when it exceeds it's largest drawdown.

If you think in those terms, then you will automatically adjust your money management to absorb average drawdowns. You should then think about adjusting your money management to allow for multiple EA's and THEIR average drawdowns.

So who knows if the day you purchase, then turn on an EA is the day she goes into drawdown. That would suck.

So what we do with our own EA's before we allow them to go live is let them breathe, find it's cycle, and trade into it's up cycle. So if you purchase an EA, you can do the same. Do a quick backtest to see where it is in it's cycle (if it's in the middle of a big drawdown, for sure wait), then based on where it is in it's cycle, make a decision.

I will tell you that we trade come really bad, bad systems, but we can recognize when they go into a strong period, and trade them as they go into the strong period, and let them go dormant until then.

Good luck in your search, just consider that ALL systems are bad, and ALL are good, just depends on when they trade with LIVE money : - )

Trader 5of7 @ TheCollectiveFX.com

 

[ernest8fingers]

Aint dhat da tooth

Thats funny 5of7 thats exactly the wall I find myself up against! LOL Its that dam "ranging" Market that I find the hardest to extract money from. I still search for that perfect combination but know its not possible. I now turn my EA "ON" & "OFF" at various times (only trade the EURO and AMERICAN sessions and never on Fridays ) and even this didnt stop losses this week. Where's Nostrodamas when u REALLY need him?:err:

 

[TraderBob]

EA Help

I was hoping someone at FPA could recommend someone who can help me with my EA. I am having issues with it working live, it seems to work fine in demo mode. Do you have a list of people you have worked with or is there a service you guys provide at FPA for help with peoples EA's, hope you can help, thanks.

TraderBob