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Thread: Recommended EA

  1. #21
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    Quote Originally Posted by bbfss2006 View Post
    From what I've read the best EA's make around 5% profit per month. There are some that come out and look excellent for a month or two but then do major damage to users accounts. How many EA's do you know of that are popular for more than one year? Real professionals trade manually and it really is the only way to go in the forex market.
    After trial running seven Ea I'm starting to believe your right. Although consider the compounding effect of the account. By the end of the year at 5% compounding you should have close to 100%. BTW fap turbo claims 100% potential per month.
    Last edited by fretwell; 01-01-2010 at 10:34.

  2. #22
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    But consider the accuracy of your trade tactics when placing your leverage (greed). Doesn't every decision revolve around the accuracy?

  3. #23
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    I completely disagree with the statements of certain people in this thread such as "No EA can ever be profitable," and "There cannot be a good EA only a good trader that uses an EA." It is possible to program a computer to do anything that a person does manually. If following a strict trading system "makes you a good trader," then applying the same system to an EA would make a "good EA."

    What can a "good trader" do that a sufficiently sophisticated algorithm cannot? Absolutely nothing!! That is - unless you think that "good traders" rely purely on intuition channeled from Almighty Zeus.

    Sure, its TOUGH to make a program perform well on a consistent basis in a dynamic environment such as Forex. But if you think its impossible, think again. People used to think that its impossible to make a Chess program outsmart a Chess master, but with time and effort that challenge was overcome.

  4. #24

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    Mfurlend...
    You are confusing my meaning.... A person MUST be a good manual trader BEFORE an Algorithm can work.... I'm NOT saying that an Algorithm doesn't work....A person must understand the strategy before using the Algorithm. I do make money trading Forex...
    I can sell you great profitable EA's all day LOL...and my bet is you will lose your money. You must really know what/how a program works/trades...and how to set/test the trade parameters, in order to make money....Don't believe someone will sell you a HolyGrail Money making program that will make you wealthy... The people that are selling these programs make more money selling the program....than trading with them.... While we all believe a Holy Grail does exist...No one has ever seen one.
    Remember what PT Barnum said...it is still true today....
    Last edited by BillR; 05-31-2010 at 19:05.

  5. #25

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    Is this The Channel Scalper worth it? If you have it could you please give an honest review? Does it have Stops and how many pips?
    Thanks

  6. #26
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    I tried for many months to create an ea that worked - They fail all ea's dont have the human instinct cant pick patterns / trends while looking at volume momentum and resistance points - sure they do some of these but we are talking about the most volatile market in the world. Whats the point of making 20% a week with one of these when on the 3rd week / 10th week your broke.

    Trust me when I say this pick your own trades or you may as well go to the casino (you might pickup a free drink there after you loose all your money)

    I used every system going even made one based on Zup every fancy indicator over at forex tsd FAILED

    if x < y just dont really cut it with Forex (hence why the macd ea doesn't work)


    Notwithstanding EA's are great little tools to mind your trades for you Always on the job and are at there best when things are volatile while your Zzzzzzzzzzzzzzzzzzzz.

    Grab Funyo's base code and create a minder with it - seriously the best ea you will ever see.

    PSS If fabturbo / "Insert EA name here" actually worked they wouldn't need to flog it off for 150 dollars as they would be billionaires and so would everyone else, You win at forex someone else looses just how it works. Be a winner and pick your own trades. If you cant pick your own trades put it into a managed Forex fund.
    Last edited by scottyb; 08-22-2010 at 21:02.

  7. #27
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    Quote Originally Posted by scottyb View Post
    I tried for many months to create an ea that worked - They fail all ea's dont have the human instinct cant pick patterns / trends while looking at volume momentum and resistance points - sure they do some of these but we are talking about the most volatile market in the world. Whats the point of making 20% a week with one of these when on the 3rd week / 10th week your broke.

    Trust me when I say this pick your own trades or you may as well go to the casino (you might pickup a free drink there after you loose all your money)

    I used every system going even made one based on Zup every fancy indicator over at forex tsd FAILED

    if x < y just dont really cut it with Forex (hence why the macd ea doesn't work)


    Notwithstanding EA's are great little tools to mind your trades for you Always on the job and are at there best when things are volatile while your Zzzzzzzzzzzzzzzzzzzz.

    Grab Funyo's base code and create a minder with it - seriously the best ea you will ever see.

    PSS If fabturbo / "Insert EA name here" actually worked they wouldn't need to flog it off for 150 dollars as they would be billionaires and so would everyone else, You win at forex someone else looses just how it works. Be a winner and pick your own trades. If you cant pick your own trades put it into a managed Forex fund.
    I completely disagree with you here.

    Firstly, EA's can pick chart patterns and candlesticks, and they can pick them far more accurately than humans. You can use commercial indicators to recognize the patterns or you can develop your own algorithm, because patterns and candlesticks all have programmable characteristics. They can pick resistance points; depending on how complex the algorithm in the EA or indicator is determines the accuracy.

    Secondly, I think your lack of trust in EA's comes from all these commercial EA's that are disappointing. Not all EA's go broke on the 3rd week/10th week: Martingales and ones that risk over 5%, sure. But not every EA.

    Thirdly, if x < y? On a scale of one to ten showing how complex EA statements can get, this is about 0.5.

    Lastly, this is a counter argument against your last point. This shows your distrust in EA's come from the commercial ones. Yes, sure, if it was true they wouldn't need to sell it. If you follow all the EA links in your inbox from all these Marketers: Hardly any of them work. They are marketers, thats how they make their money. I would say the creators of FAPTurbo did very well. They have a huge customer base and they all payed around $150 for it. Doesn't mean that all EA's are bad, just 9/10 commercial ones. I don't use commercial EA's anymore, because I would rather know what is going on inside the code and why it is taking the trades it does. I would trust my EA's if I left them on when I'm not here, but I wouldn't trust a commercial one.

    Chris

  8. #28
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    test posting..

  9. #29
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    is there any EA here based on RSX indicator

    please send me link

  10. #30
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    is there any EA here based on RSX indicator

    please send me link

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