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The first step in finding a good system is to get off these forums. There has never been one consistently profitable system ever posted on any of these forums. That does not mean it does not exist. It means that they're simply not posted on these forums and free for everyone.
If you are looking to buy a profitable system, be prepared to pay a lot if you want something that actually works over the long haul. I know of a piece of software that is capable of developing adaptive trading systems on the fly. It can do in minutes what would take most developers months. The creator sells it in limited quantities and charges about $75,000 for it. You can pay for a good system, but be prepared to pay through the nose.
Personally, I would not put my hard-earned money on a posted EA. I have spent many months developing my own EA and I am now running it with real money.
I believe that this is the only way to go. Even if you spent thousands of dollars for another one, you're taking a big risk. It could be a scam. It might work for the author, but not for you. You wouldn't know how to adjust it because it would be a black box.
If mine doesn't work, I can scrap it, adjust it, improve it, or whatever. If it works, I might be able to improve its performance because I understand it. I don't have any money invested in its development; only my spare time. I can live with that, and so can my family. I don't risk money that I depend upon for a living. I don't beg for someone to hand me his work so I can get a free ride.
You've got to treat trading like a serious venture, not a frivolous party.
__________________ Success is more perspiration than inspiration . . .
More thoughts...
When I started, I was looking for a good EA on this forum and elsewhere that I could "modify" to eliminate some of its riskiness or flaws. If I could do that, I would be happy.
But I did not find anything that met my criteria. There seems to be plenty of Martingales, but they're too risky, and there is little chance of fixing them.
Further, there's techniques based on Fibonacci numbers and mathematical reversal points. I know some people make money with those, but, to me, they're so much "hocus-pocus." I don't see many trends reversing at these points, and if they don't, you lose. Once again, too risky.
Support and resistance works sporadically. I don't know how to get enough consistency out of it. I suppose this works for some people, also.
I bought a course on the use of Pivot Points, but I always seemed to miss it in real life. Some people do well with those.
I don't want to try scalping. It just doesn't appeal to me, and some brokers don't like it.
Here's what I did do. I collected indicators and studied their behavior. I figured I could use a combination of them to feed data to an EA. Most good EA's either use indicators or build them into the program logic. If the indicator seems to show the trend, that was good. So that was my approach. I tried numerous strategies, and many seemed promising. But conquering the repainting of the current bar problem was the worst barrier to success. I never quite did accomplish that, but I am running an EA with high hopes for success.
__________________ Success is more perspiration than inspiration . . .
Hi,
Of course, I will do something... for example I will install EA in my computer..
Problem is that I am really tried of manual trading. You should follow news, data, indicators something like that. Also sometimes, we can not give correct decision to exit from trade. a kind of ambition...
Just I want to take rest sometimes and I want to run away trading...
Also an other problem is there are huge number of indicators and EA.
It is difficult to follow them.
I mean I need very useful EA, It makes me time for living..
Thanks..
I don't normally take to being harsh but on this occasion I shall make exception. Efendi you are a dumbass.
The last time a thread was started like this with the same whining overtones about 'how hard work is' and 'please give me an EA that works' was by a dipstick named Cornholio Farquar.
How dare you say something is "difficult" or "you are tired of trading"! The only people whom might be a bit tired of trading manually and have the right to say it are those whom have been in the industry and worked their asses off for AT LEAST +25 years.
You whinge about "so many indicators" and other comments as though you're a 13 yr old with attention span and commitment of flea. Your previous username isn't Dan7974 or John27 is it?
Take a rest and run away from trading? You want an EA so you have time for 'living'?!!
How bloody typical, you lazy ass punk. People like you don't want to work at all and that's the problem full stop. News Flash - Life is hard and if you want something you have to strive to get it yourself not beg others for it.
You make me sick.
I don't want to discuss you... Because you are writing something about me just a kind of prejudice and some stupid and rude idea...
Yes I was tired and I want to make my trade by automated system. That's all.
It is not your business...
And also I am not "Dan7974 or John27 ". Who are they?
My name is efendi...
That's all..
If you know some profitable EA, write it...
Otherwise I don't need your prejudice opinion...
Quote:
Originally Posted by skypilotfx
I don't normally take to being harsh but on this occasion I shall make exception. Efendi you are a dumbass.
The last time a thread was started like this with the same whining overtones about 'how hard work is' and 'please give me an EA that works' was by a dipstick named Cornholio Farquar.
How dare you say something is "difficult" or "you are tired of trading"! The only people whom might be a bit tired of trading manually and have the right to say it are those whom have been in the industry and worked their asses off for AT LEAST +25 years.
You whinge about "so many indicators" and other comments as though you're a 13 yr old with attention span and commitment of flea. Your previous username isn't Dan7974 or John27 is it?
Take a rest and run away from trading? You want an EA so you have time for 'living'?!!
How bloody typical, you lazy ass punk. People like you don't want to work at all and that's the problem full stop. News Flash - Life is hard and if you want something you have to strive to get it yourself not beg others for it.
You make me sick.
I don't want to discuss you... Because you are writing something about me just a kind of prejudice and some stupid and rude idea...
Yes I was tired and I want to make my trade by automated system. That's all.
It is not your business...
And also I am not "Dan7974 or John27 ". Who are they?
My name is efendi...
That's all..
If you know some profitable EA, write it...
Otherwise I don't need your prejudice opinion...
Man, you just don't understand. If making money in forex is so easy and a consistent profitable EA is posted everywhere, the statistic won't be 95:5 to the looser, but everyone is a winner
I have read and checked several forum and web sites about automated trade in forex by EA with metatrader...
Actually I did not satisfy about them.
There are several system and EA...
Some is cheap, some is very expensive...
Others has a lot of confusing indicator, charts etc..
I confused more than before
I need very simple and profitable EA for my metatrader...
Just I want to install my EA and wants to earn money...
I hope one day I will find it...
Do you have any good suggestion for me?
Yeah, I have one suggestion for you: grow up and stop believing fairy tales. In forex, Profit = Risk * Time. You will have to get to know all these confusing charts and indicators, and understand a lot more things, if you want to be constantly profitable in fx. Othervise just put your money into the bank for 3% per year - really no headache profit!
I have tried some EA but they were not work well... I lost money demo account...
If somebody have some information about profitable EA, please inform us..
Thanks..
It seems as though you don't want to work very much.
Stop asking everyone else for what you ought to be doing for yourself, get to work and dig into the material on the forum and TRY THINGS.
Can you trade manually yet?
How long a period of time have you demoed an EA? Are you prepared to demo one EA for MONTHS?
Yes, it's going to take a lot of work and time, but if this stuff were easy everyone would be doing it.