Tomas1713006500 Posted March 29, 2011 Report Share Posted March 29, 2011 Hi! I’m new to Forex trading and wanted to know more about advisors, cause’ there was an idea to buy one. I’ve heard that there is no reason to get into the market with small capital and it is better to buy either expensive advisor with that entire update staff or program it if you have knowledge. I’ve searched through the internet information on trading advisors and got the picture that there is a huge number of that kind of things, however I’ve faced that major part of them will make me loose. So I just decided to look for advice from people that know how exactly to find the right robot. Quote Link to comment Share on other sites More sharing options...
FxNewbie Posted August 30, 2012 Report Share Posted August 30, 2012 Tomas, I can't think of a single EA that consistently makes money. They all seem to be great at losing our money. I'm sure I have wasted over USD1000 on buying the next latest and greatest. No more! I learned. The best way to trade in Forex is to learn to trade manually or find a good reputable source for clone trading (replicating their trades). It took me 4 years to come to this conclusion. You can also consider semi-automated trading using scripts and money manager type EA's. These are the only ways I can keep my account balance and grow it. Quote Link to comment Share on other sites More sharing options...
sidecona Posted August 30, 2012 Report Share Posted August 30, 2012 price action.... price action.... price action.... The market goes where it wants, you just have to work out how to get in tune with it... and go with it... don't waste '000s on useless ea junk... also, don't waste too much time with indicators.. Some are handy, but all they do is give you something to blame when you lose money... Most lag, most repaint (some a LOT worse than others i.e. look stunning in the past, but live they suck... do a control points visual backtest to check...) and simple, with a healthy dose of patience, is better... The basics are: 1) Money Management - THIS IS THE MOST IMPORTANT... keep yourself in the game.. don't bet the farm on one trade that you are "just sure will work out in your favour" - it's all fun and games until someone looses an eye... 2) Trendlines - look out for breakouts or reversals, and once confirmed, go where the market is showing you it is headed (never EVER second guess the market) 3) Support and Resistannce - learn to identify it... helps you know where to set targets, (or/when) to tighten stops, add to positions etc 4) Chart Patterns and Candlestick patterns - we're human after all, this is where the emotional side of the market plays itself out I usually start on the monthly, draw relevant Support Resistance and Trend lines, move to weekly, repeat, daily, repeat, hourly, repeat etc.... With the lines drawn, you will at least have some insight as to WHERE and WHEN prices are likely to reverse or break out.. All of the above points work on ANY timeframe too... choose a timeframe to suit your lifestyle.... You don't need to be a news hound.. but be aware of news releases for that day, and think how they will affect the market... the fundamentals drive the market overall.. but the price plays itself out in the bars.... siddeshsd 1 Quote Link to comment Share on other sites More sharing options...
Vitautas Posted August 31, 2012 Report Share Posted August 31, 2012 A good start: Forex Growth Bot Quote Link to comment Share on other sites More sharing options...
energetic Posted August 31, 2012 Report Share Posted August 31, 2012 but Forex Growth Bot is under drawdown recently. A good start: Forex Growth Bot Quote Link to comment Share on other sites More sharing options...
Stormin_Norman Posted September 1, 2012 Report Share Posted September 1, 2012 A good start: Forex Growth Bot i don't run it. its like death by papercuts. frustrating EA. wall street robot (the unplugged version - optimise it) its been going pretty good. kangarooea is coming up to 2 years of live trading and is still going strong. other than that its a bit of a ragtag bunch. Quote "It is inconceivable that anyone will divulge a truly effective get-rich scheme for the price of a book." Victor Niederhoffer (1943–), US hedge fund manager and statistician Link to comment Share on other sites More sharing options...
Guest FloridaTrader Posted September 1, 2012 Report Share Posted September 1, 2012 Look at the testing results for at forexpeacearmy.com and this may help Quote Link to comment Share on other sites More sharing options...
acosma Posted September 1, 2012 Report Share Posted September 1, 2012 i don't run it. its like death by papercuts. frustrating EA. wall street robot (the unplugged version - optimise it) its been going pretty good. kangarooea is coming up to 2 years of live trading and is still going strong. other than that its a bit of a ragtag bunch. What type of optimization you make for WSFR ? is it like optimizing on last 3-6 months ? and don't you have any curve fitted issue ? Quote Link to comment Share on other sites More sharing options...
Stormin_Norman Posted September 1, 2012 Report Share Posted September 1, 2012 2007-now. 5 years won't see a curve fit. you might have success with other methods. no one way to skin a cat. Quote "It is inconceivable that anyone will divulge a truly effective get-rich scheme for the price of a book." Victor Niederhoffer (1943–), US hedge fund manager and statistician Link to comment Share on other sites More sharing options...
acosma Posted September 1, 2012 Report Share Posted September 1, 2012 (edited) 2007-now. 5 years won't see a curve fit. you might have success with other methods. no one way to skin a cat. Thanks....I should do an optimization with standard 90% modeling quality, cuz birt 99% modeling quality free script keeps crashing mt4 build 409 ( the old one on which birt free script still works ), otherwise you need birt commercial tick data suite. Which do you use 90% or 99% optimization ? Edited September 1, 2012 by acosma Quote Link to comment Share on other sites More sharing options...
Stormin_Norman Posted September 1, 2012 Report Share Posted September 1, 2012 i use 99% optimisation. however 90% is better than none :) optimise on 90% then confirm it by 99% could be a good idea. Quote "It is inconceivable that anyone will divulge a truly effective get-rich scheme for the price of a book." Victor Niederhoffer (1943–), US hedge fund manager and statistician Link to comment Share on other sites More sharing options...
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