I'd like to add a couple of tenets and one other point of view.

Tenet #1 -- Fundamental trading requires a stoploss, which can be quite small. You are guessing where the price will go by anticipating news, politics, etc. So the news is wrong, or a political event doesn't materliaze, you get stopped out, no big deal.
Technical trading requires a large stoploss. It's too easy to get stopped out frequently and without knowledge of fundamentals (eg. NFP, CPI, etc), it is IMPOSSIBLE to know where the price will go.

Tenet #2 -- Optimize for a 4.00 profit factor, hope that you get a 2.00 on a live account.

My average stoploss is 200 pips across the 4 majors + usdcad. 200 pips EACH. That's a 1000 pips I need to cover if the price goes the wrong way and I have 5 positions open (rare)

My other point of view... I don't know how anyone can successfully trade an EA on a short timeframe. Too much static. It may be possible. I don't know. But with a D1 or H4 strategy, you're really trading a long term trend. Long term pressure on pricing. The large stoploss prevents stopouts at news time. And when a price spikes, it comes back, it aways does.

Don't we confuse the definition of EXPERT ADVISOR?

1.-EXPERT

Expert \Ex*pert"\, v. t.
To experience.

Taught by use, practice, or experience, experienced; having
facility of operation or performance from practice; knowing
and ready from much practice; clever; skillful; as, an expert
surgeon; expert in chess or Forex.

An expert or experienced person; one instructed by
experience; one who has skill, experience, or extensive
knowledge in his calling or in any special branch of
learning.


2.- ADVISOR

advisor
n : an expert who gives advice; "an adviser helped students
select their courses";
Moby Thesaurus words for "adviser":
Dutch uncle, Polonius, admonisher, announcer, annunciator,
authority, backseat driver, buttinsky, channel, cicerone,
communicant, communicator, confidant, confidante, consultant,
counsel, counselor, enlightener, expert, expert witness,
gossipmonger, grapevine, guide, informant, information center,
information medium, informer, instructor, interviewee, kibitzer,
meddler, mentor, monitor, mouthpiece, nestor, newsmonger, notifier,
orienter, preceptist, press, public relations officer, publisher,
radio, reporter, source, spokesman, teacher, television, teller,
tipster, tout, witness


there are many people here that lives of this
"DiSCIPLINE" is the key that opens all the doors

there are people here that uses any number of public EXPERT ADVISOR
with quite good results.

it is not the EXPERT ADVISOR the one that is doing money for me,
am I who decides what to do.
the EXPERT ADVISOR that I use has to adapt to my trading style (method)
is not "ME" the one that has to adapt to the style (method) of the EXPERT ADVISOR

A Good Example Can be 10Points3, DLMv1.1 A Martingale much people say (Hybrid)
how many EXPERT ADVISOR derivated of this? and many for sale!
The Base of this EXPERT ADVISORS are quite perfect, there is noting wrong with them
The Discipline, The style (method) is the one you need to choose, lern, use, practice, know it, trust it!
With Automated , semi-mechanical or manual

no wonder sometimes the market does not move, it's because the nubmer of prayers for the market to go up is equal to the number of prayers for it to go down.

Hi Dear "Expert" Friends,

I just want to share my idea. I'm quiet new in this matter, could you please let me know the most simple way in making EA based on alligator indicator. My idea is, for example: lips 5 (blue), teeth 34 (yellow), and jaws 89 (red), all 0 shift, linear weighted method, and based on close.

1. When blue going down and crossing yellow, then OrderSell and it will be closed when blue crossing up red. But simultanously,
2. When blue going up and crossing yellow, it will OrderBuy and be closed when blue crossing down red.

It should be able to be adjusted according to chart time frame, all currency pair, there must be to have StopLoss and/or TakeProfit setting, but it could be ignored especially for some currency pair.

I really hope that this idea can accomodate your ideas as well.

Thanks for your help and attention to my idea.

That was a great thing to read. I'll have to agree with everything except for one thing:
15 pips on 2 trader per week using 50 lots won't be enough for me since I plan to be a broker instead of using one

Where do I start, hmmmm...

Having the awareness listed in points 1, 2, 7, 8 would be good for manual traders, but once you've got a thoroughly tested EA that has been proven in all market conditions, you can completely forget about that stuff. COMPLETELY.

I challenge that you have to be able to read and understand EAs if you're going to run them. THOROUGHLY TEST THEM IN ALL MARKET CONDITIONS, you bet. Have some understanding of what they're doing, and why, you bet. But read/understand the code itself? Not really necessary. I say this as a professional software engineer who supplies EAs to people with varying degrees of software savvy.

I also challenge the assertion that you have to be able to trade well manually before you should be running EAs. Why would that be?

Number 6 says "Technical indicators don't work". That's a silly statement, because what is the meaning of "work"? A technical indicator simply is what it is -- a mathematically determined quantity. What you choose to do with it is where the rubber hits the road. Strategies and tactics may or may not work, but technical indicators neither work nor do they NOT work -- they just are.

Now then...number 11. VERY GOOD! I agree with that 100%. And now I will add that the power of well constructed logic is very, very hard to thwart. Trying to "read the tea leaves" via fundamental and/or technical analysis, or otherwise trying to figure out what is going to happen next, is where everyone gets killed.

Better to simply REACT and CORRECT.

best comment so far.. lol

half of this guys wisdom is full of crap. except 13 ...I agree with that.

Be wary what you say about GOD, HE is not a human and just believe HE surely CARES.

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