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I read about an EA (Fx-Bandit) that was in the Top 20 of the 2007 Meta-Quotes Trading Championship. I wrote to the programmer, Bill Austin, and asked if he was selling his EA. He replied that he was selling it for $750, but said he would send it for $250/mo. for 3 mo. He also attached copies of statements showing very few losses, even one had -0- losses! I purchased it for one month and I ran the EA on my demo account and it lost over 20% in the first week. I informed him of this and he sent me a revised EA and it performed just as bad the following week. I have sent emails and called several times to request my money back, but no response. Looks like he was the real "bandit"!
I read about an EA (Fx-Bandit) that was in the Top 20 of the 2007 Meta-Quotes Trading Championship. I wrote to the programmer, Bill Austin, and asked if he was selling his EA. He replied that he was selling it for $750, but said he would send it for $250/mo. for 3 mo. He also attached copies of statements showing very few losses, even one had -0- losses! I purchased it for one month and I ran the EA on my demo account and it lost over 20% in the first week. I informed him of this and he sent me a revised EA and it performed just as bad the following week. I have sent emails and called several times to request my money back, but no response. Looks like he was the real "bandit"!
What did you learn from your experience?
__________________ "A successful speculator bases no moves on what supposedly will happen but reacts instead to what does happen."
I normally don't purchase EA's but since this one was ranked highly in a reputable trading championship I believed it would perform well. However, I was sadly mistaken. Going forward, I'm just going to have my own ideas developed into EA's.
I normally don't purchase EA's but since this one was ranked highly in a reputable trading championship I believed it would perform well. However, I was sadly mistaken. Going forward, I'm just going to have my own ideas developed into EA's.
- you mean the same championship that changed the spread settings after the competition started, stopping the Winwin2007 EA dead in its tracks, and now have disqualified scalpers from the championship altogether?!?!?!
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