So first off, please do not post any links of EA's available in the MQL market.
What are the downfalls of purchasing EA's located on the MQL market?
I have come across some, which I have never purchased but have backtested, many times with different data and it does amaze me, at the accuracy and consistency of these EA's during backtesting. But the real question is how do they perform during live trading?
You can back test these EA's with 20-30 spread when for example average spread for the majors never passes 10 unless at the end of the day for 30 mins, but how accurate is that? I have been told before EA's can be made this way so that during backtesting they look amazing, but how is that done? And then during live they completely fail, but even when testing with large spreads?
Anyways would be great to hear some insights on why to have caution when looking at the MQL market, EA's.
What are the downfalls of purchasing EA's located on the MQL market?
I have come across some, which I have never purchased but have backtested, many times with different data and it does amaze me, at the accuracy and consistency of these EA's during backtesting. But the real question is how do they perform during live trading?
You can back test these EA's with 20-30 spread when for example average spread for the majors never passes 10 unless at the end of the day for 30 mins, but how accurate is that? I have been told before EA's can be made this way so that during backtesting they look amazing, but how is that done? And then during live they completely fail, but even when testing with large spreads?
Anyways would be great to hear some insights on why to have caution when looking at the MQL market, EA's.
Learn, a forex trader must, unlearn and relearn he will.