Do EA's really work in the long run? Are there traders out there kicking back on some tropical island watching there account multiply everyday, all on autopilot?
I have tried what seems like hundreds of EA's and they all seem to do the same thing, they start off great and you start to get excited and then BANG!! back to square one, or worse no account left.
Most EA's have small take profit and a large stop loss, so really it's no brainer why they don't work in the long run.
I haven't been trading for all that long and am by no means an expert, but from everything I have read and all the good forums/blogs I visit, I have found that the majority of professional traders trade the higher time frames such as weekly, daily and maybe the four hour, anything less is just noise in the market.
They look for high probability trades with huge profit potential with small risk.
Now Iím not saying that EAís are no good and a waste of time, heck Iíve made plenty of money with them, the only gripe I have is that I seem to always end up giving it all back to the market.
I would be really interested to know if you are kicking back on that tropical island reading thisÖ..