The most basic profitable trade system or EA for beginner | Forex Factory

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The most basic profitable trade system or EA for beginner

  • #1
  • First Post: Jul 17, 2017 5:53am Jul 17, 2017 5:53am
I have spent at least 600 hours study and trade FX with several EAs but the results are Very disappointing after over 100 hours of backtests, finetune settings, demo, and live trade...it is depressing and discouraging.

There is no shortcut to profit and I am willing to work and study hard.

But may I request all expert traders for your mercy to share some EAs which is capable to generate profit with low/controllable risk, suitable for new trader to start.

I hope this this would help speed up our learning curve and help me to pay the bills.
  • #2
  • Jul 17, 2017 3:14pm Jul 17, 2017 3:14pm
"But may I request all expert traders for your mercy to share some EAs which is capable to generate profit with low/controllable risk, suitable for new trader to start."

Forget looking for an EA to do the work for you. If profitable trading was that easy...

Develop your own strategy. Then you'll know it works, you'll understand why it works, and you'll have the needed confidence in it.

The only other advice I can give is to let your profits run, but cut your losses early.
  • #3
  • Jul 17, 2017 9:24pm Jul 17, 2017 9:24pm
Such a thing doesn't exist. Stop wasting your time on finding EAs and profitable systems. There's no such thing as a profitable system. There are only profitable traders. It's up to the trader to make a system profitable, not the other way around. After you have 10,000 hours chart time, you'll have a good chance of becoming a profitable trader.
  • #4
  • Jul 31, 2017 7:48am Jul 31, 2017 7:48am
Quoting Preecha
I have spent at least 600 hours study and trade FX with several EAs but the results are Very disappointing after over 100 hours of backtests, finetune settings, demo, and live trade...it is depressing and discouraging. There is no shortcut to profit and I am willing to work and study hard. But may I request all expert traders for your mercy to share some EAs which is capable to generate profit with low/controllable risk, suitable for new trader to start. I hope this this would help speed up our learning curve and help me to pay the bills.
If a truly profitable EA existed, I don't think the traders would be spending much time on any forums..

Read through some of the Trading System threads and find a couple systems that appeal to your style. Mix and combine them until you feel happy and confident, and then demo, back-test, or live trade to your heart's content.

There is no true "holy grail" in forex trading. The key to success is putting in the hours of continuous learning, researching, reading, and trading - which you are already doing.

The learning curve is long, but the rewards and potentials are limitless.
Less is more
  • #5
  • Jul 31, 2017 10:49am Jul 31, 2017 10:49am
I prefer manual trading! In addition, I know many successful Forex trader and all of they are handling their live trading account manually! Manual trading is much reliable than EA trading.
  • #6
  • Jul 31, 2017 11:45am Jul 31, 2017 11:45am
Quoting JimmyChoo
I prefer manual trading! In addition, I know many successful Forex trader and all of they are handling their live trading account manually! Manual trading is much reliable than EA trading.
Which trading system you are using? Could you please share?
  • #7
  • Aug 1, 2017 2:35am Aug 1, 2017 2:35am
Quoting JimmyChoo
I prefer manual trading! In addition, I know many successful Forex trader and all of they are handling their live trading account manually! Manual trading is much reliable than EA trading.
Indeed.
No robot can follow the Market.
  • #8
  • Aug 2, 2017 10:35am Aug 2, 2017 10:35am
Theres lots of profitable and easy to use robots just look hard enough. Find the ones with the least drawdown and atleast a 60% or higher trade winning average. One in particular that stood out for me was DragonExperts ea. You should check it out and dont forget to give credit to the creator

https://www.forexfactory.com/dragonexpert
Why are you trading?
  • #9
  • Aug 2, 2017 10:43pm Aug 2, 2017 10:43pm
Quoting SoreLoser1
Theres lots of profitable and easy to use robots just look hard enough. Find the ones with the least drawdown and atleast a 60% or higher trade winning average. One in particular that stood out for me was DragonExperts ea. You should check it out and dont forget to give credit to the creator https://www.forexfactory.com/dragonexpert
I bought this EA, and tried in demo, and live. Eventually, it almost blown up my account.
  • #10
  • Aug 3, 2017 9:15am Aug 3, 2017 9:15am
Quote
I bought this EA, and tried in demo, and live. Eventually, it almost blown up my account.

Yes i know thats the thing about martingale systems theyre risky like that but if you know how to tweak them right especialy the tp and sl's levels then it becomes a more powerfull tool. You should try to read up on MQL 4 or 5 a bit not the whole thing though cause that would take years to master. Just basic stuff like writing simple scripts and modification of experts and indicators. Especialy because you intend to use ea's that you did not code yourself its just to protect yourself. Its a drag i know but it will be worth it if you make the time and effort to learn these things.

Sincere SoreLoser
Why are you trading?
  • #11
  • Aug 3, 2017 10:11am Aug 3, 2017 10:11am
Quoting Preecha
I have spent at least 600 hours study and trade FX with several EAs but the results are Very disappointing after over 100 hours of backtests, finetune settings, demo, and live trade...it is depressing and discouraging. There is no shortcut to profit and I am willing to work and study hard. But may I request all expert traders for your mercy to share some EAs which is capable to generate profit with low/controllable risk, suitable for new trader to start. I hope this this would help speed up our learning curve and help me to pay the bills.
Please share one with me as well. Thanks in advance.
  • #12
  • Aug 17, 2017 7:31am Aug 17, 2017 7:31am
Quoting Preecha
I have spent at least 600 hours study and trade FX with several EAs but the results are Very disappointing after over 100 hours of backtests, finetune settings, demo, and live trade...it is depressing and discouraging. There is no shortcut to profit and I am willing to work and study hard. But may I request all expert traders for your mercy to share some EAs which is capable to generate profit with low/controllable risk, suitable for new trader to start. I hope this this would help speed up our learning curve and help me to pay the bills.
You can OVER study. You need to take a break
  • #13
  • Aug 28, 2017 4:49am Aug 28, 2017 4:49am
By no means am I an expert. But I can tell you things I wish I knew when I first started out.

1) Have some rules down. Plain and simple. If you don't have some rules about trading set down, you're not trading. You're just fucking around. A misconception is that these trading rules will never lose you trades. This is wrong. These rules are in place because over time you learned that you lost less trades because of these rules. After meaningful time trading with rules, you cant tweak and adjust these rules.
Examples: "Check stochastic indicator before placing a trade: above 50 - sell, beloew 50 - buy." "No trading when emotionally unbalanced." "Set breakeven stop loss at X pips." "Don't trade during news events." "Don't chase missed trades." "Wait for confirmation." (by no means are these my rules, just examples)

2) Have a system of trading. If you don't have one, find one. This is similar to having rules, but different. This is defining what you're looking for when you're trading. The mistake about this particular point is that this is the I regret the most about learning. 99% of people do this when they first start learning how to trade: They find a system, the system seems good, some slight backtesting suggests that it works, and it's even traded live. Then one day it doesn't "work." Most systems out there work. You as a trader need to put in time in learning the system to make it work. I don't mean following the rules of the system religiously (which is hard enough as it is), but learning how the system behaves. What does the system look like when market is trending and chopping? Do I take a trade here? Should I wait for a retracement, confirmation, bounce, etc? Many people advocate trading "naked." These are people that have most likely tried a million systems and given up because of a "false signal." Most likely, they're not paying attention to price action when they receive signals. Trading system signals do not signal winning trades. They signal high probability trades.

3) Journal. Record everything. Take screenshots of you're trades as you take them and after you take them. Write down your thoughts and analysis on the trade. Document your psychology. Look at your trading statistics.

4) Discipline. Practice trading meaningfully. Be professional about your trading. I do believe the time and effort you put into trading will be rewarded. However, that doesn't mean you can't just click the buy/sell buttons and a year later you'll be a millionaire. You have to study, grow, and improve.

5) Think for yourself. Einstein himself put forth the Theory of Relativity and other ideas by simply daydreaming. Think about something you want to see or do in trading. "Suppose..." Then test it. Don't be discouraged by what other people say you can or can't do in trading. Example: "Anything below the 1 Hour time frame is just noise." "20% a month is the limit on attainable roi." "___ indicator/system can't work."

As you can see, I wrote a deal on number 2. I can't stress that one enough. I would've saved myself 2-3 months of learning if I took those words to heart. Good luck to you.
An eternal student.
  • #14
  • Edited 1:33pm Aug 28, 2017 5:15am | Edited 1:33pm
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Oops. Got carried away there. I didn't read trade system. I only saw EA.

This isn't what I trade with exactly, but it's close and simpler.

Gestuntsey's Super Secret Special Triple EMA System

Tools:
3 Exponential Moving Averages (EMA): 13, 26, and 89
MACD (12,26,9)
RSI (14)

Rules:
Buy when RSI is below 70 / 13 EMA is above 26 EMA, and 26 EMA is above 89 EMA
Sell when RSI is above 30 / 13 EMA is below 26 EMA, and 26 EMA is below 89 EMA

Exit when MACD signal line flattens out. (ie exit longs when MACD signal line flattens from positive to negative slope, exit shorts when MACD signal line flattens from negative to positive)

There's actually many nuances to this system that aren't mentioned. This system has a lot of potential when combined with price action.

Bonus Hints:
-pay attention to MACD histogram and signal line
-observe EMAs how they expand and explode
-trend is your friend
An eternal student.
  • #15
  • Aug 28, 2017 7:36pm Aug 28, 2017 7:36pm
Quoting JimmyChoo
I prefer manual trading! In addition, I know many successful Forex trader and all of they are handling their live trading account manually! Manual trading is much reliable than EA trading.

It’s okay. No problem. But how much profit you can earn by manual trading.
And what’s the trading strategy you have . Please share more about honestly
  • #16
  • Aug 29, 2017 6:01am Aug 29, 2017 6:01am
To ensure successful trading life with consistency really difficult and a long time process by manual trading. So generally traders lost interest to keep great patience. But it’s a part of real trading. by using automated trading system you can be profitable very few times but not for all time. its practical.
  • #17
  • Sep 1, 2017 12:22am Sep 1, 2017 12:22am
Just want to update on my MT4 trade so far.

I have tried several more EAs but still could not find one which have over 3 years consistently good results.

Hope to get a good one.
  • #18
  • Sep 1, 2017 1:00am Sep 1, 2017 1:00am
Quoting Preecha
I have spent at least 600 hours study and trade FX with several EAs but the results are Very disappointing after over 100 hours of backtests, finetune settings, demo, and live trade...it is depressing and discouraging. There is no shortcut to profit and I am willing to work and study hard. But may I request all expert traders for your mercy to share some EAs which is capable to generate profit with low/controllable risk, suitable for new trader to start. I hope this this would help speed up our learning curve and help me to pay the bills.
"But may I request all expert traders for your mercy to share some EAs which is capable to generate profit with low/controllable risk, suitable for new trader to start. "


But may I request all scientists for your mercy to build a time machine, I am not asking much as I am just a beginner time traveler, so just two days in the past to start would be great.
  • #19
  • Last Post: Sep 1, 2017 2:07am Sep 1, 2017 2:07am
Quoting Mingary
{quote} "But may I request all expert traders for your mercy to share some EAs which is capable to generate profit with low/controllable risk, suitable for new trader to start. " But may I request all scientists for your mercy to build a time machine, I am not asking much as I am just a beginner time traveler, so just two days in the past to start would be great.
I'd be happy with 30 minutes..
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