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Thread: Looking for a good Free EA!

  1. #1
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    Smile Looking for a good Free EA!

    I'm looking for a good EA, free, your recomendations are welcome with settings. Thanks.

  2. #2
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    I guess... there's no such animal!

  3. #3
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    Well, you're on the right forum.

    There are good EAs, but you have to understand that there is no "Holy Grail" EA.

    You either have EAs that can make money fast, but have high risk.
    Or you have EAs that make money slow, and are low risk.

    There is no low-risk, get-rich-quick EA out there that I know of. Even out of the better commercial ones.

  4. #4
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    I know there's no holy grail but I'm sure there are some that work better in certain market conditions and fail when those conditions are out.

    According to 4xproject.com the commercial ea "Magic Machine" was labeled a scam by them not because it doesn't work but because it a perfect copy of the free ea named Vforce-like-ea-v11 the only thing that changed was the time frame, Magic-Machine runs on H1 chart and the Vforce on 5M but 4xproject.com supplied the settings for H1 so it runs like Magic Machine, the tests at 4xproject are kind of impressive and they have it running for the last 7 weeks with no trade losses but when I put it running on my computer the damm thing never opens any positions. I have running for the last 3 days and no positions.

  5. #5
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    Even though this thread is for free bots, but I thought it would also be good to include some good commercial bots just for reference. I'm just listing the bots below in no particular order.

    1. Your_Lucky_EURGBP_v2b - Free
    Although it has been designed to be used on EURGBP, but the equity curve formed on the EURCHF long term seems to be more appealing.

    Use this bot on EURCHF M5 TimeFrame
    Settings are: Risk = 100, OpenHour = 21, CloseHour = 1 (The OpenHour and CloseHour settings are for brokers with +1 GMT with or without DST)

    If you don't like the risky 100% risk set up, you can always turn off the MM (Money Management) function and switch to standard lots of like 2 lots for 10k deposit.
    You might need to find a broker with 3 pip spread or below on the EURCHF for this to work.

    Official Thread for this bot: _rdb_The Best Free EA - Forex Trading
    Creator of this bot is: _rdb_

    2. VS_EUROCROSS_D02 - Free
    Use this bot on EURCHF M5 TimeFrame
    Leave everything as default or you can adjust the OpenHour = 21, CloseHour=1 (The OpenHour and CloseHour settings are for brokers with +1 GMT with or without DST).
    If you want to play it really safe, change OpenHour = 23 and CloseHour = 1.

    You might need to find a broker with 3 pip spread or below on the EURCHF for this to work.
    Also, you can check out the developer's blog here: Volatily Scalp
    Creator of this bot is: Volatily-Scalp

    3. FapTurbo - Commercial - $149 USD
    Use this bot on EURGBP or EURCHF M15 TimeFrame
    FapTurbo is one of the better commercial bots in the market right now. I use it personally on one of my small live trading accounts in Alpari UK. Although the spread has been raised to 5 pip spread during bot trading time (Asian Session), but it's still performing relatively well.

    You may choose to use the default settings or just raise the Risk settings according to your sole discretion. Currently i'm only using it on the EURCHF with 100% Risk, but my account is a small account of a few hundred bucks, so if you intend to have a larger account trading with this bot, probably you might want to reduce the risk level.

    Alpari UK used to be the best broker for this bot until they increased both EURGBP and EURCHF spreads to 5, right now maybe other brokers like FXCBS (ECN broker with low fluctuating spreads) would be better.

    One of the things I personally like about this bot is the forum. It's a rather big forum with lots of great people like donnaforex who is constantly helping people who are new to this bot or forex botting in general.

    Likewise for this bot, it thrives on low spreads of 3 pips and below for EURGBP and EURCHF.

    Here's a link to their web site if you're interested www.fapturbo.com


    4. Forex MegaDroid - Commercial - $97 USD
    I have not used this bot, I have only seen a couple of reviews on it. What I liked most about it is that it works on EURUSD. As EURUSD is the most liquid pair, chances are is that it has the lowest spread rate on most if not all brokers. Probably between the 0 to 2 pip range.

    Here's an MT4Stats link from expertadvisorsforex.com megadroideaf1.mt4stats.com

  6. #6
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    Elite Growth - The Best Expert Advisors on GBP/USD Finally Revealed!

    Virgo EA

  7. #7
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    I think you should go with the conditions... If you think that taking risk would earn you more money along with the precautions that you can take, then you should go for it... But if you think you can not take risk, as you cannot handle it effectively... Then risk should be adversed!

  8. #8
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    View my performance

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