WFL Posted August 2, 2009 Report Share Posted August 2, 2009 Really tired to see so many scam EA sellers flooding the Internet. Should an industry standard be set up requring all EA sellers to show real time live forward test result before selling their EAs? Quote Link to comment Share on other sites More sharing options...
Kaishakunin Posted August 2, 2009 Report Share Posted August 2, 2009 Re: Should all EA seller provice live forward test As I mentioned in other post all EAs are just a kind of business and with most of them you can just lose your hard earned money.Don't be a fools ,guys. Quote Link to comment Share on other sites More sharing options...
Billy1713006094 Posted August 3, 2009 Report Share Posted August 3, 2009 Re: Should all EA seller provice live forward test Agree Ea sellers should be required to show live fwd. tests but how to enforce? Quote Link to comment Share on other sites More sharing options...
ppc123 Posted August 3, 2009 Report Share Posted August 3, 2009 Re: Should all EA seller provice live forward test Just try to put yourselves in the position of trading system developers... if you've made a system which you've great confidence in, and it really shows great performance in quite long period of time, will you still consider sell it to the public? It's just a matter of fact that, those EAs floating around in the funny market are either incomplete, or only curve fitted for a period of history, or just experiments based on some sort of theories which developers still feel uncertain... If you're not developers, try understand the EAs you use completely, or you're just gambling... If you're developers, try understand them and use the good features in your system. Quote Link to comment Share on other sites More sharing options...
scarface Posted August 3, 2009 Report Share Posted August 3, 2009 Re: Should all EA seller provice live forward test Hi guys, I would say most of the times EA sellers fake the data and the positions they make on their EA reports. Obviously, it is impossible to sell a profitable EA because they can make money in their own rather than selling it. They just want to sell an EA that make some profit and for surely later it is going to be either on Break-even or blow up the account. Remember that there are a lot of profitable EA on the advertisers' websites, but when someone buy it and setup on MT4 or other platform, it never perform the same or even close to the advertised. I would say again that EA Selles will cheat in everything to sell their EA and never let you know how they could get some forward test or live test "if it is truly live test" be so profitable. If you need my advise, try the broken trend strategy and I'm sure you can make some money of it depending on your broker. Remember, the key to making money start with the broker first, and then with the EA or strategy. Good luck. Quote a New Year 2011 has come, and the challenge has just started 8-) Link to comment Share on other sites More sharing options...
Roger10-4 Posted August 3, 2009 Report Share Posted August 3, 2009 Re: Should all EA seller provice live forward test Definitly they should made to provide real data. But i have no idea how this would be inforced. Quote Link to comment Share on other sites More sharing options...
pepefv89 Posted August 3, 2009 Report Share Posted August 3, 2009 Re: Should all EA seller provice live forward test all EA sellers should provide real fordward testing statements with real proof ;) Quote Link to comment Share on other sites More sharing options...
wadesworld Posted August 3, 2009 Report Share Posted August 3, 2009 Re: Should all EA seller provice live forward test I think that any EA, Strategy, Method or system should show legitimate live results of their product. The problem is that anyone can fake any results they want. You as the consumer just has to trust that the vendor is truthful, which seems to be a rarity anymore. Quote Link to comment Share on other sites More sharing options...
Hacker1713006064 Posted August 3, 2009 Report Share Posted August 3, 2009 Re: Should all EA seller provice live forward test No one gives a crap about the retail customer MAKING money.. We are all leachers on top the banks transferring funds amogst themselves.. MetaTrader was designed for the novice/retail users out there that want to get a some of the action.. Problem is they let the crappy brokers play with the data and even EA's that might work get impossible spreads or stop hunting taking place.. As far as the EA's themselves.. I have been tracking various sources and email origionation points and the best I can tell over 90% of the EA's released all come from the same office or group or whatever you want to call it.. SCAMMERS... They even mess up every now and cross mail themselves and dont realize it or really dont care.. SO if 90% of the junk is from the same place then the only recourse is to expose them for what they are.. SCAMMERS.. and thats it.. Trying to get the brokers to force anything on the EA writers is a waste of time.. The bucket shops WANT you to lose or they lose.. The really big Forex houses dont use MT4.. I use FxSol for my big trading and they laugh at MT4.. So that doesnt leave you with much.. As you become more aware of this site you will realize that there aint that much out in the public that works OUT OF THE BOX.. A LOT of the EA's are really the same code cut and pasted over and over with little or no add on, just a name change.. I dont know how many of the FapTurbo/MegaDroid clones there must be now.. And none of them are really safe.. They still dont know how to handle drawdown very well... There must thousands of EA that know how to enter a trade.. But very few that can get out of loosing trade without killing the account.. Quote Link to comment Share on other sites More sharing options...
sebastian1713006095 Posted August 4, 2009 Report Share Posted August 4, 2009 Re: Should all EA seller provice live forward test Imagine that you have an EA that make money constantly, would you make it public? don't think so I don't trust automated trading, I am not saying it's useless or it wont work, I just don't like the idea. But if you are looking to buy or get one I do recommend you check for live forward tests, it's EASY to curve-fit an EA and make it earn a fortune with historical data, trading live will give you different results most of the time. hacker, with FXSol you mean fxsolutions dot com? I though they do use mt4. Quote Link to comment Share on other sites More sharing options...
Hacker1713006064 Posted August 4, 2009 Report Share Posted August 4, 2009 Re: Should all EA seller provice live forward test hacker, with FXSol you mean fxsolutions dot com? I though they do use mt4. shoot you know your right.. I didnt know they started offering it.. Ive been using GTS for 4 years or more.. I may have to download a demo and check it out.. I know I was on the main site about 4 months ago and they didnt say MT4 then.. Boy if I could tranfer some funds out of my GTS account to MT4 that would be awsome.. They probably sent me an email about MT4 but I never read the stuff... It all goes in a FxSol filter email folder and once a week I look at the week end email to verify my balances.. Hey.. thanks for mentioning it... Quote Link to comment Share on other sites More sharing options...
KTFO1 Posted August 4, 2009 Report Share Posted August 4, 2009 Re: Should all EA seller provice live forward test think it must be a problem with the connection Quote Link to comment Share on other sites More sharing options...
f2451m Posted August 4, 2009 Report Share Posted August 4, 2009 Re: Should all EA seller provice live forward test Well.. Simply, we avoid any purchase from scam ea seller so sooner or later they will be out of their business and have to think again how to leech our money.. Maybe the one you should trust is the seller with real account live (using mtstats or onixtrade). That's my opinion.. Quote Link to comment Share on other sites More sharing options...
Hacker1713006064 Posted August 4, 2009 Report Share Posted August 4, 2009 Re: Should all EA seller provice live forward test Well.. Simply, we avoid any purchase from scam ea seller so sooner or later they will be out of their business and have to think again how to leech our money.. Maybe the one you should trust is the seller with real account live (using mtstats or onixtrade). That's my opinion.. Funny.. I hate to be a cross poster, but go read what i just wrote about Mt4Stats over at this thread.. http://www.indo-investasi.com/viewtopic.php?f=6&t=4577&p=43316#p43316 Quote Link to comment Share on other sites More sharing options...
nonac Posted August 4, 2009 Report Share Posted August 4, 2009 Re: Should all EA seller provice live forward test Agree all EA results should come from real fordward testing. But even when an EA proves to be good the results are mostly different from other people. This because everyone has a different internet connection, other perfotmance pc etc. Quote Link to comment Share on other sites More sharing options...
napaj Posted August 4, 2009 Report Share Posted August 4, 2009 Re: Should all EA seller provice live forward test Hi, I agree to that EA sellers should provide good fwd test. But we need to have one for the broker you will run. EA react not same on different brokers and some brokers are "fake"/Scam brokers, Quote Link to comment Share on other sites More sharing options...
⭐ birt Posted August 4, 2009 Report Share Posted August 4, 2009 Re: Should all EA seller provice live forward test Actually, most EAs being sold perform great on historical data, which is the only reason a customer might want to buy them. Since all the experienced oldschool traders recommend having a system, a set of rules you stick by when trading, it must be that they are already using such a system to be successful, and somehow it has to be possible to implement these rulesets in software. However, as other people pointed out, why would you want to sell such a working system? It's probably easier to find an investor if you have a working EA and not enough money to start it up. Unfortunately, I don't think there's any way to enforce the EA sellers to have forward testing attached. When they do have forward testing, check it several times to make sure it's not fake. Quote Link to comment Share on other sites More sharing options...
weirdgod Posted August 4, 2009 Report Share Posted August 4, 2009 Re: Should all EA seller provice live forward test Got another spam mail from mt4 stats... about forex accumulator... again nice graphs from backtesting... pathetic... So yes - i think any serious vendor should show at least last 1-3 months of live forward testing data... Quote My Forex Trading Blog http://forex-trading-on.net Link to comment Share on other sites More sharing options...
Newbie123 Posted August 6, 2009 Report Share Posted August 6, 2009 Re: Should all EA seller provice live forward test EA Sellers make more money selling EAs than trading. I think less than 5% of the EAs out there really works well in the long run. Quote Link to comment Share on other sites More sharing options...
Izrullah Posted August 8, 2009 Report Share Posted August 8, 2009 Re: Should all EA seller provice live forward test But how do we explain the EA that is use by popular brokers like FXCM? Is it a reliable one? Quote Link to comment Share on other sites More sharing options...
duyduy Posted August 8, 2009 Report Share Posted August 8, 2009 Re: Should all EA seller provice live forward test My friend make an EA seller ranking :)>- 1. LIVE real money account statements with mainstream broker 2. investor password to #1 for total transparency 3. forward demo test statements 4. investor password to #3 5. time-limited demo EA Quote Link to comment Share on other sites More sharing options...
manxter Posted August 8, 2009 Report Share Posted August 8, 2009 Re: Should all EA seller provice live forward test I´m fairly new to all this EA stuff. So I was very impressed by all these "backtest graphs" and shiny test accounts... but now I have "my glasses on" and see clear. at least with a little help of this forum too. with all that scam around EAs, it´s just good to have a place like here where you have people that help you avoiding running into some of the scams and not working EAs. thanks! ^:)^ Quote Link to comment Share on other sites More sharing options...
asgard2 Posted August 8, 2009 Report Share Posted August 8, 2009 Re: Should all EA seller provice live forward test Imagine if you really had a foolproof profitable EA, would you sell it or use it? If it were really good, you would make much more using it than selling it. Quote Link to comment Share on other sites More sharing options...
Hacker1713006064 Posted August 8, 2009 Report Share Posted August 8, 2009 Re: Should all EA seller provice live forward test My friend make an EA seller ranking :)>- 1. LIVE real money account statements with mainstream broker 2. investor password to #1 for total transparency 3. forward demo test statements 4. investor password to #3 5. time-limited demo EA 1. Most arnt gonna release investor password (I wouldnt).. A trade copier can be installed when logged in as investor.. 2. The charts can be made up and thus the vendor backtest can be total bogus (as we have seen several times).. 3. The MT4 Publisher function can be simulated (as we have seen several times).. Thus mt4stat, mt4live and other stat sites are questionable.. 4. With the advent of the de-compilers you aint gonna see may demos released.. 5. The only real thing is Buying the product, Your OWN demo forward testing and ClickBank refunds (which I have done myself).. 6. Oh and of course this place.. Or possibly other sites that are there for the User and not the Vendor.. Most of the famous/popular sites are either owner by brokers in hiding or the vendors themselves.. 7. It helps if you spend a little time learning MQ4 code.. WHich is very similiar to ANSI C language.. The new MT5 coming down the road is based on C++ language.. If you anrt interested in this option then #5 and #6 are your best bet.. Quote Link to comment Share on other sites More sharing options...
Hacker1713006064 Posted August 8, 2009 Report Share Posted August 8, 2009 Re: Should all EA seller provice live forward test Imagine if you really had a foolproof profitable EA, would you sell it or use it? If it were really good, you would make much more using it than selling it. Of course I would be using it , and I would sell it.. Whats an extra million or so worth to you.. If you dont think theres a viable market for a "Real EA" then you aint paying attention.. But probably I would sell the signals.. A lot easier to set up a Server/Client EA and sent the signals to the end user.. About the only problem with that is trying to figure a way to keep the end user from installing a trade copier... Thats actually the problem I am working on right now.. Quote Link to comment Share on other sites More sharing options...
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