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New in forex

Discussion in 'Beginners Bootcamp' started by rubenbrundyn, Jun 14, 2012.

  1. rubenbrundyn

    rubenbrundyn Recruit

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    Hi there guys, im new in forex, have done some profitable trades by using etoro copytrader function the past 4 months.

    Thing is i really would like to use a ea so that im not dependent on someone else's trading (copytrader), until i have the neccesary skills and experience to trade myself. So I have seen etoro does not offer mt 4 which is needed for a ea. But i'm happy opening a account (pepperstone maybe)?

    I am quite new to the world of ea's and really interested, but heard of so much scams and ea's that does not always work. So is there a ea that would be easy to use and works in general (not looking for the holy grail). Just would like to know from guys like you with experience in ea's which one would help me out as a beginner.

    Thank you, Ruben
     
  2. f-man

    f-man 4Xangels Representative

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  3. sassysandra

    sassysandra Private

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    Hi f-man

    Do you think that a copy trader like zulu trade or etoro is better than an EA for a beginner?
     
  4. f-man

    f-man 4Xangels Representative

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    The problem there is that the next trade can be unpredictable. The EA is a specific software that trades under specific conditions.
    Copy trading from professional traders is good, but the risk is that the trader might change his trading style without warning. I recently read somewhere that the top trader in Zulu had a draw down of many thousand pips....
     
  5. ladytrader

    ladytrader Private, 1st Class

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    I've just posted about tradecopier dot com on another thread, for the same reasons as you - trying to avoid scams.
    Don't really feel confortable to recomend you the service (i'm searching for the same thing myself), but it seems the kind of service you're looking for.
     
  6. Ifmyante

    Ifmyante ReadTheMarkets.com Rep

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    I'd have to strongly advise you not to rely on others or bots to trade your money. Rather you learn to read the market and make your decisions for yourself. It takes lots of time to learn, but is truly worth it in the end

    Best

    If
     
  7. FringFX

    FringFX Sergeant

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    Whether using EAs or not, you are bound to get scammed as long as you stay less-/uninformed.

    What would help you out the most is by relying on yourself (learn)
     
  8. ladytrader

    ladytrader Private, 1st Class

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    Using demo accounts is also a good way to start learning and experimenting strategies
     
  9. yideng

    yideng Private, 1st Class

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    yes, even if you can earn some profits now, it won't last long. you can only be successful in the forex market after you have a solid knowledge base and live trading experience.
     

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