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do expert advisors really work

  • #1
  • First Post: Oct 10, 2006 5:38pm Oct 10, 2006 5:38pm
Hi to all, i am running an expert advisor in metatrader 4 on a demo account it is scalping and making hundreds of pips i am going to let it run for maybe a month or so but so far its incredible i have a few questions if anybody out there could help with 1. which brokers allow you to run such things
2. will they allow you to keep making money without doing some under hand things to sabotage it 3. is there anybody out there who is currently using one in a real account

I am thinking of running it in a mini account with maybe £3k to start any advice would be much appreciated thanks
  • #2
  • Oct 10, 2006 8:03pm Oct 10, 2006 8:03pm
They do seem to work as long as you are using the right one. They also seem to take alot of the emotion out of trading.

Which one are you testing out?

I am testing the Pheonix 2007 EA.
  • #3
  • Oct 3, 2007 12:05pm Oct 3, 2007 12:05pm
Yea, they work (if you pick the right one). Im forward testing mine and its been quietly amassing pips. it uses VERY! safe setting designed to double my account in 6 months AND...... in case it blows up will leave me with enuff cash in the account to re-attack! any EA can make money while the maket is moving in your direction but whats the exit strategy when the market moves against you 200 pips?

I can pull a bum off the street and he'll looking like a big winner as long as the dice keep coming up seven but when snake-eyes hits are you just gonna go back to being a panhandler?

EA strategies are plenty but whats the exit? I've spent at least 20X more hours programming my EA to start looking for the profit-taking door as soon as it places a trade. money management and capital preservation are #1!
  • #4
  • Oct 3, 2007 12:09pm Oct 3, 2007 12:09pm
Quoting daveo
Hi to all, i am running an expert advisor in metatrader 4 on a demo account it is scalping and making hundreds of pips i am going to let it run for maybe a month or so but so far its incredible i have a few questions if anybody out there could help with 1. which brokers allow you to run such things
2. will they allow you to keep making money without doing some under hand things to sabotage it 3. is there anybody out there who is currently using one in a real account

I am thinking of running it in a mini account with maybe £3k to start any advice would be much appreciated thanks

Hello Daveo,

Is it passable to share this expert with us?

If so please post it here

All the best
  • #5
  • Oct 3, 2007 12:18pm Oct 3, 2007 12:18pm
quick note. most scalpers don't cover the spread. the INCREDIBLE profits get eaten up by the numerous commissions. 1000 trades x 3-5 pips = 3,000 to 5,000 pips in COMMISSION! - does your system cover the spread?
  • #6
  • Oct 3, 2007 12:33pm Oct 3, 2007 12:33pm
Quoting Fulltime247
quick note. most scalpers don't cover the spread. the INCREDIBLE profits get eaten up by the numerous commissions. 1000 trades x 3-5 pips = 3,000 to 5,000 pips in COMMISSION! - does your system cover the spread?
So what ? If it has been forward tested on a demo account i dont see why it is a problem...

If i had a scalper making 3-5 pips per trade and making 100 trade/d i'd be very happy
  • #7
  • Oct 3, 2007 1:21pm Oct 3, 2007 1:21pm
Quoting melpheos
So what ? If it has been forward tested on a demo account i dont see why it is a problem...

If i had a scalper making 3-5 pips per trade and making 100 trade/d i'd be very happy
the demo system doesnt charge commission. whats the point of making 5 pips if you give it to the broker? lotta scalpers TP at very low amounts so they look WONDERFUL on demo but turn that baby on live with money on the line and you'll begin to fully appreciate why all of your brokers children have mercedes.
  • #8
  • Oct 7, 2007 7:35am Oct 7, 2007 7:35am
Quoting savio
Hello Daveo,

Is it passable to share this expert with us?

If so please post it here

All the best
Your asking for a reply to a post made 12 months ago. This member has not been online in the past 7 months. Always check the dates of the posts before asking questions from originator.
  • #9
  • Oct 19, 2007 4:48pm Oct 19, 2007 4:48pm
Quoting Fulltime247
the demo system doesnt charge commission. whats the point of making 5 pips if you give it to the broker? lotta scalpers TP at very low amounts so they look WONDERFUL on demo but turn that baby on live with money on the line and you'll begin to fully appreciate why all of your brokers children have mercedes.
Ideally we need a broker that has tight spreads but have you found one that will work with your EA? And if it is a good EA makes many trades each day small pips are ok in my opinion as long as there are consistent wins.
  • #10
  • Oct 19, 2007 4:53pm Oct 19, 2007 4:53pm
Quoting Fxscalp
Ideally we need a broker that has tight spreads but have you found one that will work with your EA?

dude i dont recommend scalping, especially with MT4, its a fools game you will be just handing your money into their pockets.
{Promotion Removed}
  • #11
  • Oct 20, 2007 7:36am Oct 20, 2007 7:36am
Suddently this one year old post/ thread get attention in this October?
  • #12
  • Oct 20, 2007 12:55pm Oct 20, 2007 12:55pm
that very difficult for eye to recognizing them

cek this 5 years backtest
for "detail value" "bouncing zero" pattern on MACD

on this link

for simple and powerful strategy
http://forexfactory.com/showthread.php?t=40019

Quoting daveo
Hi to all, i am running an expert advisor in metatrader 4 on a demo account it is scalping and making hundreds of pips i am going to let it run for maybe a month or so but so far its incredible i have a few questions if anybody out there could help with 1. which brokers allow you to run such things
2. will they allow you to keep making money without doing some under hand things to sabotage it 3. is there anybody out there who is currently using one in a real account

I am thinking of running it in a mini account with maybe £3k to start any advice would be much appreciated thanks
  • #13
  • Oct 20, 2007 8:40pm Oct 20, 2007 8:40pm
Quoting 3013
Suddently this one year old post/ thread get attention in this October?
and your point is ?
{Promotion Removed}
  • #14
  • Oct 22, 2007 1:43pm Oct 22, 2007 1:43pm
Quoting jjk2
dude i dont recommend scalping, especially with MT4, its a fools game you will be just handing your money into their pockets.
Actually incorrect. Scalping works if you know how to scalp. Just because it does not work for you, you should not assume that others can't do it. Your not speaking for all traders.
  • #15
  • Oct 22, 2007 2:47pm Oct 22, 2007 2:47pm
Quoting jjk2
dude i dont recommend scalping, especially with MT4, its a fools game you will be just handing your money into their pockets.
Quoting WHTenn
Actually incorrect. Scalping works if you know how to scalp. Just because it does not work for you, you should not assume that others can't do it. Your not speaking for all traders.
I think jjk2 means that since all MT4 brokers are market makers, none of them will let you scalp. Even if you know how to scalp, an MT4 broker will never let you do that.
"I say high, You say low, You say why, and I say I don't know..."
  • #16
  • Oct 22, 2007 3:23pm Oct 22, 2007 3:23pm
Quoting Ricardo.
I think jjk2 means that since all MT4 brokers are market makers, none of them will let you scalp. Even if you know how to scalp, an MT4 broker will never let you do that.
There are a few MT4 brokers that will allow you to scalp. You need to do research on this forum for a list of brokers. I have not had a problem with my broker with scalping.
  • #17
  • Oct 22, 2007 5:13pm Oct 22, 2007 5:13pm
Quoting WHTenn
There are a few MT4 brokers that will allow you to scalp. You need to do research on this forum for a list of brokers. I have not had a problem with my broker with scalping.

I am testing what seems a good scalping EA that trades several pairs, so far proving to be profitable for me but I need to test it more yet.

Do you have any EA to recommend or do you only scalp manually? Do you know of any brokers that use MT4 that allow scalping and use no dealing desk?

Thanks.
  • #18
  • Oct 24, 2007 4:17am Oct 24, 2007 4:17am
Quoting daveo
Hi to all, i am running an expert advisor in metatrader 4 on a demo account it is scalping and making hundreds of pips i am going to let it run for maybe a month or so but so far its incredible i have a few questions if anybody out there could help with 1. which brokers allow you to run such things
2. will they allow you to keep making money without doing some under hand things to sabotage it 3. is there anybody out there who is currently using one in a real account

I am thinking of running it in a mini account with maybe £3k to start any advice would be much appreciated thanks
I would like to use your expert advisor Please. Could you send it to me as email attachment via [email protected]. I would be very grateful if you could do that. Could it be used on a mini account?
  • #19
  • Oct 24, 2007 5:14am Oct 24, 2007 5:14am
Quoting WHTenn
Your asking for a reply to a post made 12 months ago. This member has not been online in the past 7 months. Always check the dates of the posts before asking questions from originator.
Either he went down in flames, or he's on the proverbial beach sipping drinks while his EA makes him rich.

I hope for him and all of us it's the latter, but we know the odds.

  • #20
  • Jun 3, 2009 10:18am Jun 3, 2009 10:18am
Well--This is mine in real time- let see
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