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Thread: Recommended EA

  1. #1
    Administrator funyoo's Avatar
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    Default Recommended EA

    The members often ask me in private what EA I recommend, and if I make regular money with forex.

    No I have no EA to recommend, and I'm not yet making regular money with forex. That's also why I have created this board, to share ideas and statements, to get the best codes, and to know the best way to use them.

    I have created a top where there are theorically the best EAs. I suggest you to test them in demo on a VPS and to select the codes that you prefer depending on your way to trade and on the risk that you can accept.

  2. #2
    Junior Member
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    Funyoo, I am not asking you to recommend one EA in particular, but only to direct me on this website so that I can find a few different EA software that are programed to do the trading by themselves; where are they, and can I download them from this website, and will they only work with Metatrader? If I finally start making a profit, I will gladly donate.

    Thanks and sincerely,

    Izzy

  3. #3
    Junior Member
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    Hi Izzi

    I am new on this forum. I have been studiyng Forex for over six months from now, and so far what I know about EA is that FAP Turbo and Steinitz are the most reliable.
    Please check: Forex Robots - Compare Forex Robots / Expert Advisors in Real Trading Accouts. they can give you a good overview of the most popular EA in the market. all The EA only runs on MT4.

    Plesa let me know if you need further info about that
    Cheers

  4. #4
    Junior Member BlackWolf's Avatar
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    Default Bad Link?

    magnum, I get this when I click on your recommended link:

    Forbidden

    You don't have permission to access / on this server.
    Additionally, a 403 Forbidden error was encountered while trying to use an ErrorDocument to handle the request.

    Apache/1.3.33 Server at AppStuff Port 80

  5. #5

    Default

    Funyoo Started this thread with good intentions...I think I may add another point....a very important point....There will never be a successful EA, there can only be a successful trader that uses an EA. You MUST be able to trade a strategy PROFITABLY manually and COMPLETELY understand an EA before you can be successful. A plug and play EA can never exist...stop looking for the impossible and do your homework...learn how to be a successful confident/ competent trader first....my .02 BillR

  6. #6
    Ronald1
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    Quote Originally Posted by BillR View Post
    Funyoo Started this thread with good intentions...I think I may add another point....a very important point....There will never be a successful EA, there can only be a successful trader that uses an EA. You MUST be able to trade a strategy PROFITABLY manually and COMPLETELY understand an EA before you can be successful. A plug and play EA can never exist...stop looking for the impossible and do your homework...learn how to be a successful confident/ competent trader first....my .02 BillR
    My honest, this the best post that I ever read.

  7. #7

    Default

    Quote Originally Posted by BillR View Post
    Funyoo Started this thread with good intentions...I think I may add another point....a very important point....There will never be a successful EA, there can only be a successful trader that uses an EA. You MUST be able to trade a strategy PROFITABLY manually and COMPLETELY understand an EA before you can be successful. A plug and play EA can never exist...stop looking for the impossible and do your homework...learn how to be a successful confident/ competent trader first....my .02 BillR
    Agreed. Yor 2 cents is worth more than million dollar EA.

  8. #8
    Junior Member adrazz's Avatar
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    Default

    agreed totally

  9. #9

    Default

    Sorry Sir,

    I would like choose an EA from the TOP to start
    but i'm not sure how to read the backtest result....

    May anyone help me to understand it...

    RDD : Relative Drawdown ? izit the smallest the better?

    Do we have a guide for newbie to read the statistics listed in TOP?

    RDD : Relative Drawdown ? izit the smallest the better?
    Izit the EA with green light and great positive in value stated is the better?



    thanks


    Regards,
    fairylord

  10. #10
    Administrator funyoo's Avatar
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    Quote Originally Posted by fairylord View Post
    Sorry Sir,

    I would like choose an EA from the TOP to start
    but i'm not sure how to read the backtest result....

    May anyone help me to understand it...
    Hi fairylord and welcome,

    Quote Originally Posted by fairylord View Post
    RDD : Relative Drawdown ? izit the smallest the better?
    That's correct.

    Quote Originally Posted by fairylord View Post
    Do we have a guide for newbie to read the statistics listed in TOP?
    See in the top, there is some informations about how is calculated the ratio :

    For the backtests : Ratio = (Total net profit/Balance)/RDD
    For the forward tests : Ratio = ((Gross profit+Open trades)/Balance)/RDD

    The results in green show the potential. The results in blue show the results in demo. If you see positive results in blue, it is a good point to multiply the tests with this EA and the respective settings available on the post.

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