The Usless of Expert Advisors!

[mograst]

Hello Guys,

so far, over 1 year of EA trading, I have come to conclusion tha EA's just doesn't works.

I have tested more that 100 different EA's and no one of them has made money in a long run

Some of them just loos everything and some of them makes money for 1-2 weeks and the

loose everything with 1 or 2 trades and I wa at BE or even lost other money.

The only peaple meking money with EA's are those who selling EA to ingeniouse traders like me.

So far I never found an EA that trades better than I can doing manually, and I am not a good manual trader.

I hope you guys will be more clever than me and do not trust in such stuff you can found around the net from

peaple claims his EA makes milions overnigth or maybe afhter 6 months.

No one will sell an EA that makes money.

I just like to advice all of you that you learn trading manually and you will for sure make more money that with an EA

you can find on the net.

Learn trading manully, find your own system and you will do much better.

 

Just my 2 cents

[chankl78]

Re: The Usless of Expert Advisors!

 

That's one of the main reason I become more active in trading system forum...

To find a good & consistence manual trading system.

 

But, so far... I feel quite ok with DP..... A little more profits than losses.... (Just a little bit more)

[dovgr]

Re: The Usless of Expert Advisors!

 

Hello Guys,

so far, over 1 year of EA trading, I have come to conclusion tha EA's just doesn't works.

I have tested more that 100 different EA's and no one of them has made money in a long run

Some of them just loos everything and some of them makes money for 1-2 weeks and the

loose everything with 1 or 2 trades and I wa at BE or even lost other money.

The only peaple meking money with EA's are those who selling EA to ingeniouse traders like me.

So far I never found an EA that trades better than I can doing manually, and I am not a good manual trader.

I hope you guys will be more clever than me and do not trust in such stuff you can found around the net from

peaple claims his EA makes milions overnigth or maybe afhter 6 months.

No one will sell an EA that makes money.

I just like to advice all of you that you learn trading manually and you will for sure make more money that with an EA

you can find on the net.

Learn trading manully, find your own system and you will do much better.

 

Just my 2 cents

 

 

 

so take them all and reverse the orders !

[⭐ cowboy]

Re: The Usless of Expert Advisors!

 

mograst ! :shand:

I agreed with you. EAs only supplements, it can't be main for the Forex Trading. :)

[⭐ fxknight]

Re: The Usless of Expert Advisors!

 

Most EAs are unidimensional in concept and they have to deal with a multidimensional market. The concept that was good for the last 1-2 weeks (and profitable) will fall out of phase with the market in a very short time and start losing. Most of these EAs are linear EAs so the only way to consistently profit from the market is through an adaptable non-linear concept like a good neural network based EA that is not curve fit to the market. Most Neural Networks are linear themselves so they won't give an advantage over an EA that is indicator based. This is the type of NN EAs that we keep seeing in this forum and for most part that are available on the market today. If the EA is truly NN based it does not need the type of optimization that the MT4 optimization engine offers. It has its own training code in addition to the EA itself. Our human brain works in a non-linear fashion. If we see that the market conditions have changed, we also can change the approach as well when trading manually. Even the guy that won the 2007 MQ Trading championship which is by far the best MT4 EA ever coded suffers some serious drawdowns. You would think with an EA like that that constantly adapts to the market someone would become a billionaire in 1 year but such is not the case. Just my opinion anyway ;)

 

Cheers

[mograst]

Re: The Usless of Expert Advisors!

 

maybe there is or will be an EA that can make money costantly in forex but they are keep "secret" and only for personal use. Thery are not those we can finde on the net for $99, $149 or $299.

All those EA's are mode from peaple who:

- has small forex experience and even never traded Live

- Traders who fail with live trading and now selling EA's and other stuff to recover looses as they see it as only way to make money in forex.

[Rio]

Re: The Usless of Expert Advisors!

 

All those EA's are mode from peaple who:

- has small forex experience and even never traded Live

- Traders who fail with live trading and now selling EA's and other stuff to recover looses as they see it as only way to make money in forex.

 

I tend to agree.

So far, while I've been learning MQL4, I've made a few junk EAs that don't work -- but some of them are certainly a whole lot better than some of the EA scams you see pumped out by affiliates and whatnot. I suppose I could sell them as well and hype them up the wazoo until enough suckers bought one and make money that way.... what what would I gain if I made a pile of money and had no soul left at the end of it?

 

I guess that's not a moral issue to some people.

[futron]

Re: The Usless of Expert Advisors!

 

 

I tend to agree.

So far, while I've been learning MQL4, I've made a few junk EAs that don't work -- but some of them are certainly a whole lot better than some of the EA scams you see pumped out by affiliates and whatnot. I suppose I could sell them as well and hype them up the wazoo until enough suckers bought one and make money that way.... what what would I gain if I made a pile of money and had no soul left at the end of it?

 

I guess that's not a moral issue to some people.

 

 

Rio,

 

I agree with you wholehaertedly ! I have probably written over 100 EA variations and some of them are very good but most if not all of them fail in the long run. I was at the point of selling one of my EA's but pulled it after my forward tests started making losses. I just can't sell something which I know will fail at some stage and maybe kill a few people's accounts which they opened in the hope of making a few extra bucks using my EA. Forget it. I will continue developing until I have an EA that I am comfortable with and which I know will make money if not a lot but at least then some consistant profits.

 

Yes as you say for some people the moral issue just is not a problem, I feel sorry for them because it will at some stage or another catch up to them.

[scarface]

Re: The Usless of Expert Advisors!

 

Hi guys,

 

I want to share my opinion also.

 

I disagree that EAs don't work. I actually think that the main problem with the EA in the MM money management most of the times.

 

Take lLan1.6 as an example, it is great EA it works very well and no problems at all.

 

You need to ask your self one question and then use an EA. How much do you want the EA to make???

 

some people want EAs to generate 100K every month, which is most likely would fail because of the high risk.

 

lLan 1.6 EA can generate around 300K out of 10K for around 10 months using 0.1 lot start and no MM.

 

You can backtest it on EURCHF and you will see how powerful it is.

 

I don't want to talk about other EAs, but this is just an example.

 

Good luck.

 

Scarface

[wirastomo]

Re: The Usless of Expert Advisors!

 

I think stress is make a bored,.. @-)

know lot of EA and their trade or their system, make you stress.....

 

My advice, forget it about Forex and make easy money @ forex or all about EA.

go vacation.... nornally live and enjoyed,... (it's easy broo...)

 

btw,.. I use more than 2year use EA, and still ok (just control your self ;) )

 

just my 2 opinion!! :))

[mapper]

Re: The Usless of Expert Advisors!

 

scarface, could you please share lLan 1.6 EA? Thank you!

[MartyGale]

Re: The Usless of Expert Advisors!

 

@scarface, I agree with you for the most part there.

 

I don't know which came first but Ilan is the same as IAPE which I've played around with. Whilst, it does work well for most of this year (perhaps from March) because of the ranging market conditions on the EURCHF, that maybe the only time it would have worked in recent years. In other years it would have wiped out your account quite easily.

 

On a general note, I think EAs are as good or bad as manual systems. Because EAs can easily be backtested we can quickly see that 99.9% of them are rubbish but how can we judge the manual systems. Usually we have to take them on trust and try them out for a long time so they're bound to have a better image.

 

On my forex exploits over the last 3-4 years, I may have found around 5 EAs/robots which are fairly reasonable in peformance but I haven't found any manual system I'd stick with yet.

 

If anyone has one they've been using successfully for a year or more I'd be interested to know the name but I guess then if you had one you wouldn't be reading this forum! ;)

[scarface]

Re: The Usless of Expert Advisors!

 

scarface, could you please share lLan 1.6 EA? Thank you!

 

Hi,

 

I already did in this new post.

 

[spoiler:c1og3bs4]http://www.indo-investasi.com/viewtopic.php?f=6&t=6601[/spoiler:c1og3bs4]

 

Good luck.

[scarface]

Re: The Usless of Expert Advisors!

 

@scarface, I agree with you for the most part there.

 

I don't know which came first but Ilan is the same as IAPE which I've played around with. Whilst, it does work well for most of this year (perhaps from March) because of the ranging market conditions on the EURCHF, that maybe the only time it would have worked in recent years. In other years it would have wiped out your account quite easily.

 

On a general note, I think EAs are as good or bad as manual systems. Because EAs can easily be backtested we can quickly see that 99.9% of them are rubbish but how can we judge the manual systems. Usually we have to take them on trust and try them out for a long time so they're bound to have a better image.

 

On my forex exploits over the last 3-4 years, I may have found around 5 EAs/robots which are fairly reasonable in peformance but I haven't found any manual system I'd stick with yet.

 

If anyone has one they've been using successfully for a year or more I'd be interested to know the name but I guess then if you had one you wouldn't be reading this forum! ;)

 

Thanks MartyGale for your post.

 

well, to be honest with you, I trust EAs more than even manual trading skills because EAs can be precise and accurate, but manual trading can't be. I don't need to use or control emotions when using EAs, but I become more aggressive in risking money for trading so this way I can either loss very fast or gain very fast. When I reach my goal, I stop being aggressive and change money management from high risk to low risk.

 

I guess most EAs are rubbish because their strategies are not long-term ideas. Even some martingale EAs are not so that's why they fail after a while. Don't forget that MM is the most important factor that if controlled and used wisely, the EA would never fail.

 

I guess you can see that traders in general never say there is a good EA or indicator because they never success making 100% profit in one month as an example so in the review they mention that this or that EA is worthless or something bad about it.

 

As long as we use MM in unknowable way or without understanding, 100% any EA would fail without any doubt.

 

I mentioned that ilan1.6 EA is so good, and if you backtest it on a low range currency pair for few years without using MM (MM=false), you will find out that this EA is making a lot of money.

 

I'm sorry to write too much, but I wanted to clear up something that traders always forget.

 

Best wishes,

[crushbeat]

Re: The Usless of Expert Advisors!

 

hello scarface,

 

i have found tat ilan1.6 has no MM.. it just fixed lot.. am i rite?

 

thanks

[scarface]

Re: The Usless of Expert Advisors!

 

hello scarface,

 

i have found tat ilan1.6 has no MM.. it just fixed lot.. am i rite?

 

thanks

 

Yes, you are right.

 

MM is going to cause the EA blowing up the account.

 

I've bakctested it long time ago, but whenever I have time I will post it on ilan topic.

 

Thanks.

 

Best of luck.

[bratt]

Re: The Usless of Expert Advisors!

 

Most EAs are unidimensional in concept and they have to deal with a multidimensional market. The concept that was good for the last 1-2 weeks (and profitable) will fall out of phase with the market in a very short time and start losing. Most of these EAs are linear EAs so the only way to consistently profit from the market is through an adaptable non-linear concept like a good neural network based EA that is not curve fit to the market. Most Neural Networks are linear themselves so they won't give an advantage over an EA that is indicator based. This is the type of NN EAs that we keep seeing in this forum and for most part that are available on the market today. If the EA is truly NN based it does not need the type of optimization that the MT4 optimization engine offers. It has its own training code in addition to the EA itself. Our human brain works in a non-linear fashion. If we see that the market conditions have changed, we also can change the approach as well when trading manually. Even the guy that won the 2007 MQ Trading championship which is by far the best MT4 EA ever coded suffers some serious drawdowns. You would think with an EA like that that constantly adapts to the market someone would become a billionaire in 1 year but such is not the case. Just my opinion anyway ;)

 

Cheers

 

So FxKnight - is this KUB EA (from atc 2007) possible to obtain or is it only used via his trading group Pamm? Do you know by any chance?

 

Thanx!

[Izrullah]

Re: The Usless of Expert Advisors!

 

Hehe, frustrated with EAs? I was but not anymore. EA does work & can work in the long run with good MM as mention ealier by scarface. Been using EA in live for almost 6 months with good returns of 20-30% so far. And I'm also using it to "risk" my 24 client accounts currently.

[scarface]

Re: The Usless of Expert Advisors!

 

Hehe, frustrated with EAs? I was but not anymore. EA does work & can work in the long run with good MM as mention ealier by scarface. Been using EA in live for almost 6 months with good returns of 20-30% so far. And I'm also using it to "risk" my 24 client accounts currently.

 

Hi Izrullah,

 

Thanks for your comments.

 

It is great to hear that some traders are using this EA on real accounts, but they need to be aware that they have to have enough margin because some brokers may close some positions saying that you don't have enough margin.

 

Man, you need to be very careful. A strong trend to down or up is coming soon and if you reduce the risk a little bit it would be safe for you are your clients as well.

 

All the best wishes and luck,

[unikin]

Re: The Usless of Expert Advisors!

 

... On my forex exploits over the last 3-4 years, I may have found around 5 EAs/robots which are fairly reasonable in peformance but I haven't found any manual system I'd stick with yet.

 

If anyone has one they've been using successfully for a year or more I'd be interested to know the name but I guess then if you had one you wouldn't be reading this forum! ;)

 

Try THV4 manual trading system. It's free you can find it on Forexfactory. I've been trading it for a year now with average +30pips a day. But no manual system will work without good basic trading knowledge not even this system. If you blindly follow indicators you'll get burned sooner or later.

 

I still haven't found EA which has 1:1 or higher TP/SL ratio and is profitable in the long run. All this comercial EAs that have 60p SL 5p TP ratio or something similar are giving me heart attack every time I use them live. Then they advise you to use high lot sizes which can wipe your account and give you few percent gain in return. Remember institutional traders usually trade with only with 1 standard lot size per 50.000$ equity and risking no more then 1-2% of the account per trade. If you risk only 1% per trade with this EAs profits per trade get very small.