Do EAs really work? | Forex Factory

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Do EAs really work?

  • #1
  • First Post: Jan 9, 2019 11:16am Jan 9, 2019 11:16am
Just curious about EA's and their effectiveness. When I see an EA for sale online somewhere, with trading records and all that, I always wonder why everyone doesn't just use them - if they work. That's not to say that I don't see the value in developing the skill to trade independently but for someone like me, who's still pretty new, what's the harm in letting an EA take control while I learn?

When I look at myfxbook.com and see these crazy results people get, I can't help but wonder if these are maintained over the long term. Even if many of those aren't dependable over the long term, there have got to be some that are. If you can create a trading system that works, then why couldn't you automate it?

Also, if there are reliable EA's out there, where can I find one? lol
  • #2
  • Jan 9, 2019 7:02pm Jan 9, 2019 7:02pm
Quoting Dasilvja
Just curious about EA's and their effectiveness. When I see an EA for sale online somewhere, with trading records and all that, I always wonder why everyone doesn't just use them - if they work. That's not to say that I don't see the value in developing the skill to trade independently but for someone like me, who's still pretty new, what's the harm in letting an EA take control while I learn? When I look at myfxbook.com and see these crazy results people get, I can't help but wonder if these are maintained over the long term. Even if many of those...
Hi Dasilvja

Yes they can be profitable but you need multiple Algo's to create a decent income stream. Many EA's shown with great results are Grid designed and mostly collapse with a margin call at the next big spike / trend. You are unlikely to find a good EA on a shelve, run it and make lots of money.
The money is normally made by running it on multiple charts at the same time so it needs to be set up correctly and traded after many hours of testing.
That takes skill and experience and perhaps 500 hours of your time to GET IT RIGHT.
Trading thin liquidity at the boundary of the charts
  • #3
  • Jan 9, 2019 8:25pm Jan 9, 2019 8:25pm
Quoting Dasilvja
If you can create a trading system that works, then why couldn't you automate it? Also, if there are reliable EA's out there, where can I find one? lol
//-----

hey dasilvja..... ea's are something i have studied, designed, coded and ran for many years......

several times have commented about webjeff, who tripled his money running a single ea trading a single pair with the exact same profit and stop targets..... the ea should have been obvious to anyone that looked at his trades......

if your looking for reliable ones, for some reason the russians have the lock on ea's...... join their forums......
//------

it's almost a given, few will speak highly of ea's..... their correct...... the common ea's you download off the net are far too simple and far too shallow..... it's difficult to trade a stand alone signal long term......

my approach was , like you mentioned, create a trading system that works and automate it..... those 9 words are also difficult......h
to trade and code, keep both simple... no call to impress....h
  • #4
  • Jan 9, 2019 8:43pm Jan 9, 2019 8:43pm
Quoting Dasilvja
Just curious about EA's and their effectiveness. When I see an EA for sale online somewhere, with trading records and all that, I always wonder why everyone doesn't just use them - if they work. That's not to say that I don't see the value in developing the skill to trade independently but for someone like me, who's still pretty new, what's the harm in letting an EA take control while I learn? When I look at myfxbook.com and see these crazy results people get, I can't help but wonder if these are maintained over the long term. Even if many of those...
Dear Dasilvja,

What is an EA exactly? It is just a set of written instructions to perform tasks when conditions are met.

So, like you mentioned "creating a system that works", if one could write specific rules to carryout each function/ task then it can be automated. Humans generally are terrible at following rules, so an EA can have some benefit (provided that the strategy has high probability of consistent profitability).

The harm in letting an EA take control is that you may give into temptation to interfere with it, while having no clue behind the strategy the EA is built on and even risk of losing your trading funds before you even learn to trade independently and quitting trading for good.

Trying to create something that will always work is not something that I would recommend, as complacency will destroy your trading career. Running an EA will requires constant monitoring and tweaking in my opinion to make sure it/they are behaving as intended within probability limits.

Finally, I would imagine truly profitable purchasable EA's would be very expensive (millions of $ even), and would require specialized hardware and location to use them. This is not including invaluable private retail EA's + software who would not disclose or advertise...

Why would anyone sell something that is able to generate money automatically in exchange for money? Silly right, lol

Kind Regards,
Tzamo
"Work hard, put in the effort, and follow your dreams..." -Me
  • #5
  • Jan 9, 2019 9:41pm Jan 9, 2019 9:41pm
Yes its work like your assistant lol....
Every thing work till its not...
Best way to use them is use small size..
Again and again....
Most important knows when to go on vacation....
Trade fearless not careless...
  • #6
  • Jan 9, 2019 10:31pm Jan 9, 2019 10:31pm
Yup but if you know ur strategy and ur the one that's controlling not fully automated
  • #7
  • Jan 9, 2019 11:37pm Jan 9, 2019 11:37pm
Quoting Dasilvja
When I see an EA for sale online somewhere,
These kinds of EA’s are valueless; they are the scammers! So, we should avoid this kind of stuff.
  • #8
  • Jan 10, 2019 5:20am Jan 10, 2019 5:20am
Quoting hayseed
{quote} //----- hey dasilvja..... ea's are something i have studied, designed, coded and ran for many years...... several times have commented about webjeff, who tripled his money running a single ea trading a single pair with the exact same profit and stop targets..... the ea should have been obvious to anyone that looked at his trades...... if your looking for reliable ones, for some reason the russians have the lock on ea's...... join their forums...... //------ it's almost a given, few will speak highly of ea's..... their correct...... the common...
Hayseed, so how does one differentiate a good EA from a bad one? Are good ones even available anywhere to the public? I'd love to learn to code so I can create my own and tweek them over time. Any recommendations on the best way to start that?
  • #9
  • Jan 10, 2019 7:53am Jan 10, 2019 7:53am
Quoting Dasilvja
Just curious about EA's and their effectiveness. When I see an EA for sale online somewhere, with trading records and all that, I always wonder why everyone doesn't just use them - if they work. That's not to say that I don't see the value in developing the skill to trade independently but for someone like me, who's still pretty new, what's the harm in letting an EA take control while I learn? When I look at myfxbook.com and see these crazy results people get, I can't help but wonder if these are maintained over the long term. Even if many of those...
the ea doesnt make the trade good ur looking in the wrong spot
  • #10
  • Jan 10, 2019 8:52am Jan 10, 2019 8:52am
Quoting Dasilvja
{quote} Hayseed, so how does one differentiate a good EA from a bad one? Are good ones even available anywhere to the public? I'd love to learn to code so I can create my own and tweek them over time. Any recommendations on the best way to start that?
Your'e asking the wrong trader, almost everything he/she said about EA's was wrong. Good ones are everywhere IF you learn how to optimize a EA correctly and run it on the correct markets.
Just look at the EA Strategy tester, there is two free EA's right there. While they are basic, just trading them on EURCAD would have given you a 5% return this year alone. It you had traded it on about 5-6 pairs that showed good results, you would of made a 30% return.
Finding a cheap coder on forex factory is easy if you ask. But don't expect good results if you aren't expecting to work hard yourself.
Trading thin liquidity at the boundary of the charts
  • #11
  • Jan 27, 2019 11:15am Jan 27, 2019 11:15am
In my opinion every EA have their exp date. Even the most expensive EA today. All economics condition always change, so we need more adaptable EA to get profit.
  • #12
  • Edited 11:08am Jan 28, 2019 10:58am | Edited 11:08am
some of the smartest players have tried to create profitable trading systems and failed, it is an extremely difficult thing to do...

i had a brief conversation with a professor of theoretical physics from a very well known university about a year ago, and he told me that his trading systems would win for a while and then they would always lose..

if he cant do it, it is very difficult to do.. he has full knowledge of physics and mathematics, and he has the best people at his disposal, and yet he could not do it.

a few points that i want to make:

1) the basic indicators(rsi, macd, etc) do not work.

2) backtesting is fools gold, it is bullshit.

3) nobody is going to sell to you a machine that spits out money reliably..

4) traders are not(for the most part) good people, they are simply out for number one, period.

5) most traders do not appreciate the value of a trading team.

6) low leverage is more risky than high leverage.

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  • #13
  • Last Post: Feb 11, 2019 3:37am Feb 11, 2019 3:37am
I have seen according to my trading experience , most of Forex trading strategies or system works for very short time including EA, so it is more appropriate not to depend on same trading approach for all time, develop your trading system by regular practice.
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