I have 10k to invest in Forex - Any EA recommended? | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

VennD - Any Pairs - Any Style - Any Time 741 replies

Does any know any Forex Brokers that offer Forex Futures? 0 replies

Forex trading in China: Any recommended broker? 2 replies

Any ECN with $10K min deposit? 4 replies

When exchanging pairs that do not have the USD as a base/quote, is $10k used to open? 3 replies

Attachments: I have 10k to invest in Forex - Any EA recommended?
Exit Attachments

I have 10k to invest in Forex - Any EA recommended?

  • #1
  • First Post: Aug 6, 2020 11:43pm Aug 6, 2020 11:43pm
Hello FF community, I want to know from experience of everyone if any EA could work, with small lots and a good base of money to support strong movements. I don't wanna trade by myself, so please don't suggest strategies to do manually. Maybe a martingale or grid EA?
  • #2
  • Oct 23, 2020 5:31am Oct 23, 2020 5:31am
I am working as a Dealer in an FX company. I can guarantee you that you will lose all your money if you get a random EA from a dude online. You even going to lose all your money if you find an EA from a trusted source.

First, you have to understand something, you don't have 10k to invest on FX, you have 10k to gamble in FX. If you have clear this in your mind and you are ok with that, then please proceed and find an EA or someone that will help you.

My best advice is:
Find an EA or a solution that is going to arbitrage and not trade based on stupid indicators.
or find a trusted broker that allows you to copy someone else. be very careful with that and always use a very small amount when you trade. Leverage can generate big losses in a small timeframe.
  • #3
  • Oct 24, 2020 7:08am Oct 24, 2020 7:08am
Do not invest 10k by depending on an EA. EA is made based on a strategy. It works best with the strategy and EA maker. With changing market every strategy needs adjustment. If not strategy, at least you need adjust with your approach to the market.
  • #4
  • Oct 25, 2020 3:40pm Oct 25, 2020 3:40pm
I agree that it's very likely that you would suffer a financial loss if you choose to trust an EA with your capital. I would recommend listening to the fair advice above.
  • #5
  • Oct 25, 2020 9:04pm Oct 25, 2020 9:04pm
Very good investment If you want to use this investment in the right way, you need to maintain money management and risk rewards. No matter what strategy is used, trading is not possible without money management.
  • #6
  • Oct 27, 2020 11:19am Oct 27, 2020 11:19am
There is a guy that did the FTMO challenge with a commercial EA, but he seems to be an exception.

This is not a get-rich-quick scheme.
Normally, there is little sense in selling your EA if it's profitable.

If you want to pursue the automated trading route, you'd be better off building an EA yourself.
I've been listening to the Chat with Traders podcast, and it has several episodes about systematic trading, you'll probably learn a lot from these interviews should you decide to pursue this route.
  • #7
  • Oct 27, 2020 11:38am Oct 27, 2020 11:38am
Better you stay away from any EA and wild indicator setups. Train yourself in drawing trendlines and you will reach far more stable trading.

Here from today on eurusd in the minute chart. If you can wait for the right time, you are ready.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_M1.png Size: 39 KB


Edit: It is too easy to sell this, but one of the ways that work over and over again.
Perfection is the enemy of good enough!
  • #8
  • Oct 27, 2020 12:03pm Oct 27, 2020 12:03pm
Quoting MichaelSch
Better you stay away from any EA and wild indicator setups. Train yourself in drawing trendlines and you will reach far more stable trading. Here from today on eurusd in the minute chart. If you can wait for the right time, you are ready. {image} Edit: It is too easy to sell this, but one of the ways that work over and over again.
This is slightly off-topic but... while I agree the entry here looks 'easy', the devil is in the details:

  1. How do you deal with trendlines often pierced? (fake outs)
  2. Where do you put your stop in this example?
  3. More importantly, where do you set your target?

I love trendlines but I've always struggled in making a complete strategy around them.

  • #9
  • Oct 27, 2020 10:03pm Oct 27, 2020 10:03pm
learn price action trading.
Love to talk on Discord: DividendGamer#1324
  • #10
  • Oct 28, 2020 3:08am Oct 28, 2020 3:08am
Quoting Varkeer
learn price action trading.
condescending and unhelpful answer, but thanks I guess?
  • #11
  • Oct 28, 2020 5:29am Oct 28, 2020 5:29am
Quoting ennioFX
{quote} This is slightly off-topic but... while I agree the entry here looks 'easy', the devil is in the details: How do you deal with trendlines often pierced? (fake outs) Where do you put your stop in this example? More importantly, where do you set your target? I love trendlines but I've always struggled in making a complete strategy around them.
I trade the third touch. Have a look for trendline after a range. I take profit if the last high or low is reached.

For me a trendline is as long valid as the price touch this or goes quick out of it.
Perfection is the enemy of good enough!
  • #13
  • Oct 28, 2020 12:12pm Oct 28, 2020 12:12pm
I know i am going off topic, but i will help you to drop the idea using EA and other garbage.

This is also from EURUSD M1

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_M1.png Size: 39 KB

This work every day and nothing more is needed. Would you pay for such pretty simple information? Will this fill a book from many hundreds pages. Can you construct a mystic land around this. If you have some creativity you can, but you can take it as it is.
Switch to your chart and timeframes and watch for it. You will get a wooooow ... !
Perfection is the enemy of good enough!
  • #14
  • Last Post: Oct 28, 2020 5:34pm Oct 28, 2020 5:34pm
Quoting MichaelSch
I know i am going off topic, but i will help you to drop the idea using EA and other garbage. This is also from EURUSD M1 {image} This work every day and nothing more is needed. Would you pay for such pretty simple information? Will this fill a book from many hundreds pages. Can you construct a mystic land around this. If you have some creativity you can, but you can take it as it is. Switch to your chart and timeframes and watch for it. You will get a wooooow ... !
thanks for the explanations and providing a 2nd example
0 traders viewing now