Have you ever earned from a working EA/system for a long time? | Forex Factory

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Have you ever earned from a working EA/system for a long time?

  • #1
  • First Post: Apr 17, 2019 3:50pm Apr 17, 2019 3:50pm
I've been searching for a good system for many years and still searching today BUT many times I read about traders who created a working trading system, but then Metaquotes banned them if they sold it or their broker made them lose or closed their account...
So my question is: have you been able to use a profitable system for a long time? Because it seems to me that brokers and Metaquotes wants to prevent you to win with an EA...if nobody had a successful story with an EA there are no reasons for me to search for a good system anymore...
Thank you.
  • #2
  • Apr 17, 2019 6:20pm Apr 17, 2019 6:20pm
Be aware of anything EA that's being sold. Metatrader and the backtesting report is so easily manipulated even tho it says 99%. And then again why would you sell the holy grail system/EA for a few bucks. I've myself tried and testet many EA and almost all tecnical indicator there is. EA's primarily are based on tecnical analysis only and aren't taking into account many other factors. I've never stumbled over a consistent profitable EA, no sir.
  • #3
  • Apr 18, 2019 1:30am Apr 18, 2019 1:30am
https://www.forexfactory.com/showthr...9#post12227719

2 years - strictly automated trading. Uses risky techniques. But already acting with play money here now. Ignore every trade explorer or history below one year of proven profitability. That's just noise.

But the consistency is defined differently by each and everyone. The longer you are trading a system the more likely you will have to adjust/adapt it, that is true.
  • #4
  • Apr 18, 2019 1:32am Apr 18, 2019 1:32am
Quoting jo24
I've been searching for a good system for many years and still searching today BUT many times I read about traders who created a working trading system, but then Metaquotes banned them if they sold it or their broker made them lose or closed their account... So my question is: have you been able to use a profitable system for a long time? Because it seems to me that brokers and Metaquotes wants to prevent you to win with an EA...if nobody had a successful story with an EA there are no reasons for me to search for a good system anymore... Thank you....
IMO selling EAs doesn't make much sense. If you have a profitable strategy, it's much better to run your pamm account or provide signals.
There are probably some profitable EAs for sale but they must be very expensive.

I'm testing my own eas and I want to be super honest, cause I see not point in lying to you.
In backtesting my EAs produced around 600%/year ON AVERAGE (worst year was 2018 with a 50% return), let's be clear: with a high risk profile.

not much to say, the volatility is low, maybe it will come back, still I'm up around 10% in 6 months. I'm actually using them since july 2018 but I stopped making changes in oct 2018.. yeah 6 months of history is not much. I opened a thread where I wanted to share live results compared to backtested results but nobody was interested.

Again if it performs well in the long term I would never sell it for $100 nor $1000.. it's just not the best option. But I might share the results with you in the future, if metaquotes or my broker doesn't kill me lol
  • #5
  • Apr 18, 2019 6:23am Apr 18, 2019 6:23am
Quoting Drolph
https://www.forexfactory.com/showthr...9#post12227719 2 years - strictly automated trading. Uses risky techniques. But already acting with play money here now. Ignore every trade explorer or history below one year of proven profitability. That's just noise. But the consistency is defined differently by each and everyone. The longer you are trading a system the more likely you will have to adjust/adapt it, that is true.
2 years of activity are quite good...may I know what broker you use? ECN?

Quoting HeyYou
{quote} if metaquotes or my broker doesn't kill me lol
That's what could happen...do you know what is Virtual Dealer plugin 3.1, created by Metaquotes? It is a plugin for brokers that makes them able to manipulate slippage and delay of clients orders. I do not trust Metaquotes, but unfortunately there are no other free platforms and even if there are they are not good or they are brokers platforms (so conflict of interest), so regarding Metaquotes, we have just hope....instead brokers can be scammers but there are also good brokers, we have to find them ourselves...
That's why this thread... the purpose of this thread is to know if someone has ever found problems with Metaquotes or brokers in using an EA. You know, to have a statistics can help...
  • #6
  • Apr 18, 2019 7:02am Apr 18, 2019 7:02am
Quoting jo24
{quote} 2 years of activity are quite good...may I know what broker you use? ECN? {quote} That's what could happen...do you know what is Virtual Dealer plugin 3.1, created by Metaquotes? It is a plugin for brokers that makes them able to manipulate slippage and delay of clients orders. I do not trust Metaquotes, but unfortunately there are no other free platforms and even if there are they are not good or they are brokers platforms (so conflict of interest), so regarding Metaquotes, we have just hope....instead brokers can be scammers but there...
It would be great.. problem is that here you find only ppl in the learning process. Oh yeah I know a profitable trader on FF (who also uses EAs), mr copernicus. he was using IG and now he uses Pepperstone (according to his profile), no idea why he changed broker.
  • #7
  • Apr 18, 2019 7:20am Apr 18, 2019 7:20am
I have been using Oanda for many years without any issues. They are one of the few FX brokers that have earned my respect. I have been running my own EAs against accounts there without any issues for years. This one uses no grid or martingale: http://www.myfxbook.com/members/mast...fs-v02/2143614
I DO have to decide when to allow it to run (avoiding adverse news events). This one shows best results with GBPUSD but needed to opt out until BREXIT is resolved, one way or another.
  • #8
  • Apr 18, 2019 7:24am Apr 18, 2019 7:24am
I wouldn't worry too much about the Virtual plugin. You can manage around it with limit orders for entry, and avoiding thin market times when stops are taken out. Also, I cannot imagine why Metaquotes would purposefully want to shut down a profitable EA signal service. If you earn, they earn. Perhaps they might ban a hyped EA for sale that does not live up to the backtests and advertising used to sell it on their site.
  • #9
  • Apr 18, 2019 7:38am Apr 18, 2019 7:38am
Quoting MasterElf1
why Metaquotes would purposefully want to shut down a profitable EA signal service. If you earn, they earn.
yes, it's true. But I'm against Metaquotes not for this, but because they created a plugin (Virtual Dealer plugin) that is against traders...it's not serious...
However it is also true that Metaquotes has also Freelance service and Market...it is like a supermarket: what if people didn't need to eat anymore, because they found a profitable EA?
  • #10
  • Apr 18, 2019 8:12am Apr 18, 2019 8:12am
Quoting jo24
{quote} 2 years of activity are quite good...may I know what broker you use? ECN? {quote} That's what could happen...do you know what is Virtual Dealer plugin 3.1, created by Metaquotes? It is a plugin for brokers that makes them able to manipulate slippage and delay of clients orders. I do not trust Metaquotes, but unfortunately there are no other free platforms and even if there are they are not good or they are brokers platforms (so conflict of interest), so regarding Metaquotes, we have just hope....instead brokers can be scammers but there...
Always choose commission over spread-markup! Therefor ECN is a must. The broker in this particular example here is Tickmill, but it is not my favorite choice anymore. Things are changing over the years..
  • #11
  • Apr 18, 2019 9:34am Apr 18, 2019 9:34am
Quoting jo24
That's why this thread... the purpose of this thread is to know if someone has ever found problems with Metaquotes or brokers in using an EA. You know, to have a statistics can help...
//-----

hey jo...... in 14 years i've never noticed a single issue worth mentioning involving metaquotes , metatrader or any broker that i have ever used.....

there are at least several other free platforms that can be used...... oanda has fxtrade and fxcm has their trade station..... have used both.....

my preferred choice is metatrader solely because of the ability to code and run ea's, indicators, scripts and such......h
to trade and code, keep both simple... no call to impress....h
  • #12
  • Apr 18, 2019 9:56am Apr 18, 2019 9:56am
Quoting Drolph
{quote} Always choose commission over spread-markup! Therefor ECN is a must. The broker in this particular example here is Tickmill, but it is not my favorite choice anymore. Things are changing over the years..
Why is it that brokers seem to want traders to take the ECN/Commission over the standard/spread option? Even the rebate sites advertise that there is more rebate paid on the ECN/Commission accounts than the spread only accounts? Up to 5 times or more per return lot. To me, it means the brokers make more money from ECN and therefore promote it more and even pay more rebate because there is more money made that way. Looks like the ECN accounts give the broker the ability to make guaranteed money from commissions and on top of that, it gives them the ability to increase and decrease the spreads as they wish, therefore, making money on both spreads and commissions. It is funny that ECN brokers always advertise the lowest spreads such as: spreads from 0.0 or .01 or whatever and they never cap it, ever. So basically they can have their lowest spread of the day for 1 second and then have it as high as they want the rest of the day and they haven't even lied about their spreads.
I know that there are smart traders who won't put up with that but there are many shameless brokers out there double dipping in both commission and spreads at the same time and they have traders that pay both. I think sticking with such brokers basically condones this type of broker behavior and will lead to eventually commission plus high spreads becoming a normal thing and us traders won't have much choice other than to pay both.
  • #13
  • Apr 18, 2019 10:16am Apr 18, 2019 10:16am
Quoting hayseed
{quote} //----- hey jo...... in 14 years i've never noticed a single issue worth mentioning involving metaquotes , metatrader or any broker that i have ever used..... there are at least several other free platforms that can be used...... oanda has fxtrade and fxcm has their trade station..... have used both..... my preferred choice is metatrader solely because of the ability to code and run ea's, indicators, scripts and such......h
hayseed, you're truly a brokers ultimate dream trader. Considering we both traded at IBFX and you totally approve of them, I don't think any broker can do anything to upset you. You just adjust and make the best of it.

As for MT, what is your opinion on MT4 vs MT5?
I am always in fear of MT4 being pulled off any minute. They can give a deadline of 6 month to a year and stick with it this time around. A fellow on MQL5 site pulled all his MT4 EA/Indys cause he says MT4 is so drastically outdated. Should we all gradually migrate to MT5 because the writing is on the wall or you don't see a permanent switch ever as some traders say?
  • #14
  • Apr 18, 2019 10:24am Apr 18, 2019 10:24am
Quoting OutThere
{quote} Why is it that brokers seem to want traders to take the ECN/Commission over the standard/spread option? Even the rebate sites advertise that there is more rebate paid on the ECN/Commission accounts than the spread only accounts? Up to 5 times or more per return lot. To me, it means the brokers make more money from ECN and therefore promote it more and even pay more rebate because there is more money made that way. Looks like the ECN accounts give the broker the ability to make guaranteed money from commissions and on top of that, it gives...
After you are finished with your conspiracy theory let me answer your initial question.
Instead of focussing on your costs, you should concentrate on your strategy. Simple example. Your trade is getting close to your TP. While the raw spread ECN account touches your target it is missed on your spread markup account. From that point on, the trade will move against you until you are not solvent anymore. Let this happen happen only one time and it will cost you more than any cost difference between both models can compensate. So it is all about execution.
  • #15
  • Apr 18, 2019 10:41am Apr 18, 2019 10:41am
Quoting Drolph
{quote} After you are finished with your conspiracy theory let me answer your initial question. Instead of focussing on your costs, you should concentrate on your strategy. Simple example. Your trade is getting close to your TP. While the raw spread ECN account touches your target it is missed on your spread markup account. From that point on, the trade will move against you until you are not solvent anymore. Let this happen happen only one time and it will cost you more than any cost difference between both models can compensate. So it is all about...
Its not a conspiracy theory. It is the broker to broker spread comparison that screams rip offs by brokers padding the spreads. They can do it a bit less on spread only accounts because spread is of high focus but the ECN commission crowd, do anything to get that supposed great rate even if they have to pay dearly and twice for it.
I have no problem with my strategy but because it is good, I shouldn't have pay through the nose for it.
  • #16
  • Apr 18, 2019 10:47am Apr 18, 2019 10:47am
Quoting OutThere
A fellow on MQL5 site pulled all his MT4 EA/Indys cause he says MT4 is so drastically outdated. Should we all gradually migrate to MT5 because the writing is on the wall or you don't see a permanent switch ever as some traders say?
//------

hey ot....... i have a 1954 international super a tractor and a 1955 allis chalmers hd 11 dozer...... both might be considered out dated but both still work fine enough for me..... they run side by side with newer versions.....

mt4 was a true improvement on mt3....... mt5 is a true improvement on mt4 ...... brokers don't seem all too thrilled about letting go of mt4......

mt5 is not available to me thru a broker now........ so will probably run mt4 till the wheels fall off.....h
to trade and code, keep both simple... no call to impress....h
  • #17
  • Apr 18, 2019 10:49am Apr 18, 2019 10:49am
I can't speak about MetaQuotes because the brokers are their clients but as far as the brokers go, they benefit from having successful traders because for one thing, traders pay commission and spread.
  • #18
  • Apr 18, 2019 10:55am Apr 18, 2019 10:55am
Quoting OutThere
{quote} Its not a conspiracy theory. It is the broker to broker spread comparison that screams rip offs by brokers padding the spreads. They can do it a bit less on spread only accounts because spread is of high focus but the ECN commission crowd, do anything to get that supposed great rate even if they have to pay dearly and twice for it. I have no problem with my strategy but because it is good, I shouldn't have pay through the nose for it.
As you can see I am earning money for years here - so I know what I am talking about, thank you. What about you? Picture or it did not happen.

Your whole calculation is plain stupid. I gave you a perfect example. You just ignored it. That in combination with the non existing proof of "knowing what you are talking about" makes you lose this discussion my friend. Losers mostly focus on how bad they are treated and blame everything and everyone for their loss. The key to success is NOT the costs you are having when trading with your broker.
  • #19
  • Apr 18, 2019 12:13pm Apr 18, 2019 12:13pm
Quoting Drolph
{quote} As you can see I am earning money for years here - so I know what I am talking about, thank you. What about you? Picture or it did not happen. Your whole calculation is plain stupid. I gave you a perfect example. You just ignored it. That in combination with the non existing proof of "knowing what you are talking about" makes you lose this discussion my friend. Losers mostly focus on how bad they are treated and blame everything and everyone for their loss. The key to success is NOT the costs you are having when trading with your broker....
OK, go ahead n pay the brokers both commission n high spread. You obviously have lots extra to feed the pigs prime cuts n proud of it. Which broker do you shill for? They say ECN and the idiots flock in throwing money at it.
This is not about looking how good you are doing although you are using to opportunity to show off. Too bad I am no where near the show off that you are.
  • #20
  • Apr 18, 2019 6:51pm Apr 18, 2019 6:51pm
Quoting OutThere
{quote} OK, go ahead n pay the brokers both commission n high spread. You obviously have lots extra to feed the pigs prime cuts n proud of it. Which broker do you shill for? They say ECN and the idiots flock in throwing money at it. This is not about looking how good you are doing although you are using to opportunity to show off. Too bad I am no where near the show off that you are.
You still dont have too much experience trading live and it shows..
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