How to make money from EAs (trading robots)

[Abelkara]

Hello, everyone! One obsession visited my consciousness a long time ago. I wanted to make money from trading with trading robots. I have been puzzling over how best to do it for several months.

I’m not a coder, and I have no knowledge of mql. That’s why I had either to hire an mql coder or find special software to create an EA.

Thus, I found several programs, compared their features and prices. Eventually, I have decided to apply Easy Forex Builder.

This tool was pretty simple to use. I could develop one unpretentious Expert Advisor just using a user-friendly drop-down menu. However, if you want to create more complex robots with extended functionality you should hire programmers. Most likely, I will use the programming services of the 4xDev guys in the future.

Well, you may find the next steps boring. However, they are crucial if you want to increase profits. No pain, no gain.

I backtested my EA on the H1 timeframe in MT4 and Forex Tester 5. The whole process swept in the blink of an eye. Perhaps, it was due to the fact that I could skip unnecessary time lapses. I identified several bugs in my EA and fixed them. Then, I chose the most profitable configurations.

The next step was live trading. I used a demo account with a VPS server to check the performance of my strategy. In addition, I launched the trading robot on a trend asset.

After my 1000 and 1 steps, I made a trading portfolio to stabilize profits. My portfolio contained EAs equipped with trend indicators and oscillators. I have done it to survive different market conditions including trend and flat. My trading robots were functioning on demos with launched VPS services.

After a month of trading, I selected the most successful EAs. I will trade with them on a final account. Only after that, I can fully estimate the performance of my EA portfolio. If one of my robots performs poorly, I will get rid of it and replace it with another one with positive statistics.

7 months will show which EAs are cool and which ones sucks.

I want to start live trading soon. Moreover, I want to apply my EAs in Forex Copier to mimic signal providers and FX gurus or duplicate trades using reversal mode to make loss-making strategies profitable ones.

Good luck to me! Believe in my pains!

FPA Forums Team Note: General Forex Talk is a non-commercial folder. Trading with EAs is a valid topic here, but this is not the place to bring up specific commercial EAs.

 

[Petezaa]

I've used multiple EA's and lost a lot of money. In the end, I learnt how to trade manually - I'd like to think that there are profitable EA's over there making good money but I've searched and searched but can't see anything.

 

[sebking1986]

I've used multiple EA's and lost a lot of money. In the end, I learnt how to trade manually - I'd like to think that there are profitable EA's over there making good money but I've searched and searched but can't see anything.

Literally 100% the same experience as mine. Looked for the holy grail when starting in forex and tried to make money from the off with EAs and it cost me more than I have probably spent on courses to learn how to trade manually. Was all part of my process but if I could go back, I'd cut out bothering with them.

 

[Forex_swiz]

Hello, everyone! One obsession visited my consciousness a long time ago. I wanted to make money from trading with trading robots. I have been puzzling over how best to do it for several months.

I’m not a coder, and I have no knowledge of mql. That’s why I had either to hire an mql coder or find special software to create an EA.

Thus, I found several programs, compared their features and prices. Eventually, I have decided to apply Easy Forex Builder.

This tool was pretty simple to use. I could develop one unpretentious Expert Advisor just using a user-friendly drop-down menu. However, if you want to create more complex robots with extended functionality you should hire programmers. Most likely, I will use the programming services of the 4xDev guys in the future.

Well, you may find the next steps boring. However, they are crucial if you want to increase profits. No pain, no gain.

I backtested my EA on the H1 timeframe in MT4 and Forex Tester 5. The whole process swept in the blink of an eye. Perhaps, it was due to the fact that I could skip unnecessary time lapses. I identified several bugs in my EA and fixed them. Then, I chose the most profitable configurations.

The next step was live trading. I used a demo account with a VPS server to check the performance of my strategy. In addition, I launched the trading robot on a trend asset.

After my 1000 and 1 steps, I made a trading portfolio to stabilize profits. My portfolio contained EAs equipped with trend indicators and oscillators. I have done it to survive different market conditions including trend and flat. My trading robots were functioning on demos with launched VPS services.

After a month of trading, I selected the most successful EAs. I will trade with them on a final account. Only after that, I can fully estimate the performance of my EA portfolio. If one of my robots performs poorly, I will get rid of it and replace it with another one with positive statistics.

7 months will show which EAs are cool and which ones sucks.

I want to start live trading soon. Moreover, I want to apply my EAs in Forex Copier to mimic signal providers and FX gurus or duplicate trades using reversal mode to make loss-making strategies profitable ones.

Good luck to me! Believe in my pains!

That's all great
Good luck! Please keep us informed!

 

[fxoday]

Now I am working hybrid trading, I use ea scalping in one pair and work manually in another pair, in my view about ea, they can work automatically, but still need to drive manually when ea open order and the market move against these order, I sometime cut loss if based my analysis ea make a wrong direction.

 

[FriendlyFX]

In my experience you still need manual intervention on EAs .
You can't leave them on total autopilot .
Best of luck to you you've certainly put in the work

 

[Thoris]

I do really think that robots are better at trading than people.
Surely, it is not easy to buid a personal trading bot, but it is the only adequate way, from my perspective, to start algotrading. Many people choose the easiest way and but the trading bots from some other third-party organisations. I don't think that it will be profitable in the long run. The markets are changing all the time and the traders need to adapt to these changes in order stay afloat. That is why, trading robots should also undergo some changes and modifications in their work in order to have solid and updated principals of trading. So, you'll be able to modify the robot only if you created it by yourself. That is why you've got to learn coding and trading if you want to switch to algotrading without changing the trading bots every month.
It is good for you that you tes different robots before using them to the full. I guess that you'll choose several bots which will bring you some profits, but you shouldn't forget to control them. It is important to bear in mind that algotrading is not a passive income. An algotrader should be good at analysing current situation and he should know which robot is the most suitable for this market situation.

 

[HazerIdrak]

Guys can you suggest a broker to trade with robot and that will not block you if your robot is profitable?

FPA Forums Team Note: Do not ask for or make commercial recommendations in General Forex Talk. This is a non-commercial area.

If you want to ask for or make recommendations, use the Forex Company Comparisions folder.

 

[7Bulletin]

That is great that you were so serious about trading with EAs because lots of people tend to buy ready-made trading bots instead of making them on their own. However, I am a bit skeptical about some additional tools which construct your own trading bots. I feel that such tools may write the code with some bugs and if something bad happens, it will be difficult to track down the mistake or the place which you need to modify. If you have troubles with mql language as there are too few learning materials online, you can use python to make your trading bot if you a user of mt5. There is a library which is called metatrader5, so that you can use it to make your own trading robots.

 

[HeavenLeighRob]

To be honest, I've always been skeptical of EA's. I know that there are probably some good ones out there but I don't want to get burned trying to find them.