Programmes only take a few hours to write but the actual system behind the programme /ea can take months to prepare and forwad testing /optimisation and implementation etc can take few more months

In a good E A the easiest job is the programmer's

Regards

El Cid

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developer of professional quality expert advisors for fully automated trading

Programing is only the tip of the iceberg and a very small part of the work required, I have a couple of EA's that took 2-3 years to complete, so his figures aren't that far off

Gaining experience takes 20 year, I agree on that.
But producing an EA doesn't need that much time.

I have a moneymanger that uses a very good EA (up to my), he payd 200 $ to a programmer and it works exact as if he should trade manual.

He was not speaking about his education from kindergarten to university.

A good EA should be based on a system that is traded succesfull for a long time manual.

That's just my idea (doesn't mean I'm always right )

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Trading software for the online investor.
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Well, i have at least 2 EAs i´ve built that are profitable on backtest.
I´m not using them because i´m focusing my account and my trading style on manual scalp.
I could sell them and they would certainly make money to whoever use them. So, why not?
The idea that people sell EAs because they are not profitable to be used and sellers want to make money from missinformed newbies, it´s probably wrong. There might be more then one reason to sell an EA.

I haven´t sold any yet, and i´m not selling for now. But that doesn´t mean they don´t make money. They do! I have a public EA that makes lots of money when jpy is beeing sold on a clear trend. Its beeing used by many traders. I´ve received lots of emails because of that EA that took me some weeks to get it donne. and it´s free and makes money!! What if i charged for it?

So, if i have a good EA with little drawdown, proper MM and a long backtest story of regular profits.. i shouldn´t sell it at all ? Is that it?

I guess the right question is.. Why people buy Eas?!

Carllos

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Carlos

Could you post a link to the jpy EA ?

I tend not to go for EAS that trade occasionaly in exceptional circumstances .I like consistent performance from an EA and I like them auto-adjust to different market conditions

but i can still learn soething from your E A

EL CID

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developer of professional quality expert advisors for fully automated trading

I have never believed in EA's. I always believed in manual trading. However, I came across a few good EA's recently. Some for free some paid. After studying them, I started to see that there are potential in EA's. However, this does not mean that one cannot trade them manually, they can be.

As for the selling of EA's, after 7 years of experience in trading, yes, there are people who make money in selling EA's than in forex. They just are not confident enough in their EA. Many EA's make profit, but at some point they lose much. They even collapse, especially for those martingale, non SL EA's.

If you want to identify a good EA, you have to look for the following:

1. It SHOULD use SL.
2. Risk to Reward ration should be less than 1
3. Hit ratio should be above 50%
4. It should work in backtests, on at least the 4 major currency pairs without any tweaking or special parameters for every pair (And this is very important).

Regards
Yanni
Welcome to My Fx Report - Live Forex Trading

Yes, what about Steinitz? Did a drawdown happen?

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Coder for Hire:
http://www.firecell-fx.com

Hit ratio s/be 35% with take profit 4 times stop loss

1 winning trade to 2 losing trades

regards

El cid

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developer of professional quality expert advisors for fully automated trading

Why is this so important?

__________________
Trading software for the online investor.
Increase your results dramatically by buying the right values at the right prices.

Most EAS are optimised to trade a particular pair ,like the trendstuffer for gbp/usd ...........but if market conditions change to suit other pairs ,this ea would fail and start incurring losses on a particular pair.If you find an EA that works on all types of markets and pairs ,you have a fairly reliable E A

If it relies on one type of market conditions or one particular pair the EA will eventually start losing money and blow your account

regards

El cid

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developer of professional quality expert advisors for fully automated trading