Traders who use EAs/Robots - Question

[workitout]

workitout... I don't have your experience and I can say I'm a dummy for sure... but I totally agree with your opinion and I already did think about it....
i can complement your words saying that you can make some very good profit (little bit more than normal but not 50%) but its just for a while... for example 6 months... so this is why i think its a good shot put part of the investments in good EAs knowning that it will remain just for a couples of months...
what do you think?
I have to say again... what you said is almost impossible to prove but we can "read" that based on the numbers

well, if you put that's way, there's many possibilities you can consider into action.
first thing to consider is your investment plan, a total money management. i do mean money management, not just account management which only define how much lot used per transaction. .
use different EA type, put your money in different brokers, with portion deposit depend on their reputation. a highly reputable brokers surely paid your profit when you made 100% profit from your 1k deposit amount . and made a split withdrawal based on deposit amount.
let's put this on number, said deposit amount are 1k, profit gain 1k in a month, so it would be wise to made 500 usd maximum with your 1st withdrawal. always do this regularly for each month, until we made a total withdrawal for amount initial deposit+portion of profit, said 1500 in total, while you have a leftover said 700 usd in your account try to boost the trade in one single trade, for example during news .

but there's also a problem when you decide to always use any commercial EA you can find, you will eventually keep changing eA, different setting, different EA type which is also affect your own trading strategies, and that's would be huge problem, you become depend on EA performance, while you dont fully understand the EA core system. if this keep going, you'll ended as a hybrid trader with EA addiction complex. and here's my suggestion and what i have been done for years, try to pick primary trading type based on your profitable EA, study it's behaviour, what it's pros and crons, anything! with this kind of research you will finally gain your own ultimate trading strategies, learnt from daily ea use. it would takes time, cost lot of money, maybe you will get bored, pissed off, but i would guaranted it's worth of trying.
once you finally fully mastered of this 'chosen' EA, it means a profitable trading strategy of you own been created, you just need to rewrite the logic, find someone to code but let the best setting on your behalf . now you have your own EA, would need more time to set it best setting, but it wouldnt take too long since you already mastered and fully undestand it trading system.

hope you've got the point, english are not my native lang, i try my best to write a (more like) proper explanation.

 

[filipesantos]

your english still better than mine! lol
Yes I agree in parts with you... because I'm not a good trader yet... I mean I didn't study yet some good strategies that make me confortable to trade manually... but in the near future

there's no holy grail or holy grail strategy.... it requires time, money and a lot of study...

its very good to know someone like you who We can exchange information and point of views

 

[ChuckNZ]

Experience with EA's

I'm not 100% sure what the original poster was trying to learn from his post. But, I've been trading using computers for over 50 years and would never consider any other form of trading. I'm hopeless when it comes to so called "discretionary" trading. My emotions take over and I invariably lose money.

I've written thousands of EA's (or their equivalent using other platforms) over the years and actively trade about a dozen of them now. IMO, the problem with most of the commercial EA's is that they have been "curve fitted" to a particular set of data. If you look at the code for some of them, they actually skip some periods of time when you backtest them, rather than let you see how much money they lost.

It is possible to curve fit just about any EA to make money over a bactest period. Here's what I like to do when it comes to optimising parameters:

1. Optimise parameters over (say) the last 12 months.

2. Run the EA using those parameters over the previous 12 months.

3. Alternatively, optimise over the 12 months ending 12 months ago and then run over the last 12 months.

If performance is considerably worse over the period not used in the optimising, imo the logic simply isnt' working. The EA has been optimised over a set of historical data and will most likely lose money in the future.

 

[fxstrategist]

Were there trading computers 50 years ago? Let alone, online trading?

 

[workitout]

Were there trading computers 50 years ago? Let alone, online trading?

despite of how the computerized online trading 50 years ago, his advice upon backtesting a system are good one.
1. Optimise parameters over (say) the last 12 months.
2. Run the EA using those parameters over the previous 12 months.
3. Alternatively, optimise over the 12 months ending 12 months ago and then run over the last 12 months.
just what i'm currently doing for months, at first i just stuck with try many ea and backtested them, which obviously wasting time .
and the only valid effort are enhance it while forward tested on real market price.

 

[fxstrategist]

The thing with robots or EAs is that they require human intervention during unexpected events.

 

[RahmanSL]

Hi all,
first of all I'd like to apologize for any dummy question or comment. I'm new in the forex (few months) I know a very little bit (almost nothing in my opinion) about brokers, regulations, technical analysis and EA's... but my question is related to EA.
Also I'd like to forward this question to the people who uses EAs a lot . If you don't like or you don't trust EA's I can respect that but I think this is not the thread objective.
I like so much the FPA performance test where I can go take a comparison about the profits, DD, etc... but I'd like to ask a question:
We see a good quantity of EAs here with reviews, some tests against scammers (AMAZING WORK).... and in there is also the website MQL4: automated forex trading, strategy tester and custom indicators with MetaTrader and in my opinion there's no scammer check or anything like here...it's like a dark market (please advice if you don't agree) but even that I see sometimes some interesting signals... I'd like to hear from you if i should get away from that website or if i can find some good signals there also... I'd like to know your opinions.
I'd like to thanks in advance for your time and comments
best regards

The best way to see & to experience first hand EA performances is to see Demo competitions organized by various brokers where usd50k trading accounts are turned into over usd11 million in under one week.

Now....ask yourself.....if these EA/Robots can work or is allowed to be used on real live account, wouldn't there be many, many more multimillionaires & billionaires Forex Traders?
And most definitely the developers of these Super-duper EA/Robots will not bother with Demo competitions;correct??