Hi

I got scammed - Touch The Sky - The_Market_Wizard

OILFXPRO

Nothing new for me.
I posted my EA for MT3 few years ago.
Some "expert" sold my EA on ebay next day.
Bongo

It really isn't fair on the developer/owner who puts in all the effort.

What are safe guards?

Don't sell them?Set up software for rental by keeping all expert advisors in your server on their account.Charge an annual usage fee?

any loopholes here?

OILFXPRO

Hi,
Yaa, you are right. You spend hours, days and weeks for developing EA’s
and client is not appreciate this. He/she wants to be a millionaire for free.
I finished an EA today and back test is perfect but…????
will see forward test next week.
Bongo

Attached Files

WebicknellEA_H4_2.htm (83.5 KB, 131 views)

Hi

The funny thing is they tweak somebody else's expert advisor and sell it.Make 2 to 3 changes to somebody's expert advisor and call it your own without giving credit to the orignal coder/respecting copyrights

scam expert advisors - Google Search

OILFXPRO

Scum like this will always be around. It's not just on EBay, there are also those with seemingly legit webpages peddling the work of others for financial gain because these leeches are not good enough to trade themselves.

How can it be combatted? By those of us more experienced pointing out when some gimp opens a thread proffering the the latest holy grail for $99 (discounted from $399, but only until midnight ) is actually a totally free system and can be downloaded for nothing.

It kinda ruins their credibility when people realise they are being royally ripped off.

Hmmm, I bought a system where the person didn't even change the code at all. It was developed by people in this forum. Different indicators by different people and EA by someone else. I developed code for free for some guys and now they sell the code. The changed the copyright. It lets one think about helping some people......

Hi

Ask yourself two simple questions

If the system is good and making money consistently , why is he selling it?
All he has to do is trade it on auto lot and make MILLIONS $ trading it.Selling EAS for $100 to $300 is not very profitable compared to trade a good EA

Does he not have the confidence to trade his own system with real money?
Maybe a dodgy system /scammer here is promoting his scam .Where are his actual traded broker statements ?Are the profit claims made by a few scammers aiding and abeiting a scammer?

OILFXPRO

It's a bit simplistic to believe that every winning EA can just average up its lotsize and turn cents into millions, though most newbies believe this to be the case (and no, I'm not suggesting you are a newbie!) - it all depends on the underlying strategy. A certain "200 Pip Challenge " is a case in point - you have newbies flocking to 'sign-up', even though the most that they can ever profit by is $2 bucks! Unfortunately, most are completely mesmerised by the '200 Pips' thing - is it any wonder that most people lose money.....

Your point about vendors not trading their EA's is spot-on though. There is absolutely no reason why every EA for sale shouldn't have real account results to back up its claims - it would cost very little and would aid hugely in selling the actual EA.

The reason they don't is that they know they aren't profitable...

unfortunately this thing exist because theres demand for it....just like demands for drugs

some ppl just dont get it. world is not handed out to you on a silver platter.