Trading bot

[Christina Ledger]

whats the best site for EA/bots? i honestly never really know where to start?

FPA Forums Team Note: Anyone recommending commercial products in Beginners Bootcamp will be fed to Spam Cat. If you want to check out some EAs, start in the software section of the FPA's reviews.

 

[JayJones]

You need to understand Forex to understand the risks of an EA before jumping in to one!

Please explain

 

[CRPA9]

EAS can be good but I find they have a lot of drawdown.

 

[sebking1986]

I use an EA and found it a good way to get into trading. Of course the more you learn and can trade manually the more powerfult the tool becomes. Psychologically a completely different beast to manual trading though in my opinion

 

[pezz55]

I love a good EA but would not put my savings on one has to be a small side pot as i dont know many that run long term

 

[CRPA9]

I love a good EA but would not put my savings on one has to be a small side pot as i dont know many that run long term

Yeah most bust out.

 

[pezz55]

Yeah most bust out.

but can be a great earner just important you still need to manage them

 

[momo3HC]

Yeah most bust out.

As i saw even the good ones can fail from nowhere.

 

[JohnnyJoe]

Demo them first and remove your initial investment then it's all profit

 

[HansBrathwaite]

Please explain

EAs have both pros and cons. When you do manual trading, you are flexible to trade and see the daily market movements. EA will execute the order when entered into a criteria. EAs are good for those who don’t have much time to do manual trading.