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Do EA's really work?

  • #21
  • Edited 12:33pm Nov 16, 2007 7:42am | Edited 12:33pm
Quoting smjones
I wrote this last August and it has been running live ever since..

I think the really good strategies do not get published.

I have not made any adjustments to it since I started it. August 01,2006

These are actual trades, not backtesting or forward testing.

The lots are at a fixed amount. If I used a more agreesive money managment scheme, this would produce even higher numbers... But, I hate risk.... So I keep it ultra conservative. I have, from the beginning used a .20 lot size, or $2 per pip and have not increased it... I may do some sort of percent of stop or account eq in the future.

The bottom line is.... EAs work as well as the person that wrote and executed them. EAs are just another tool and nothing more.

give it to me?

i have i lot of ideas of automated systems. But i don't know how to code and neither have money to pay for each strategy.

i have instaled Fibo Trader (for test with another strategy posted here) and was thinking to test strategies with it (because it have a "wizard strategy creator" but i don't know if the backtest is reliable. Fibo Trader at least has 15 days trial but data only for 1 year or less.

could you or anyone indicate any software that have "wizard" (when is not necessary to code) and have enough data avaliable and reliable backtest? and trial period would be good.
  • #22
  • Nov 17, 2007 9:35pm Nov 17, 2007 9:35pm
i can make you a ea, for free
its my way of contributing

Quoting giraia_br
give it to me?

i have i lot of ideas of automated systems. But i don't know how to code and neither have money to pay for each strategy.

i have instaled Fibo Trader (for test with another strategy posted here) and was thinking to test strategies with it (because it have a "wizard strategy creator" but i don't know if the backtest is reliable. Fibo Trader at least has 15 days trial but data only for 1 year or less.

could you or anyone indicate any software that have "wizard" (when is not necessary to code) and have enough data avaliable and reliable backtest? and trial period would be good.
  • #23
  • Nov 17, 2007 10:53pm Nov 17, 2007 10:53pm
Hello,

There are a lot of issues working against an automated Metatrader 4 EA.

Strategy
- Poor coding of the strategy.
- Consistent profitability over a long period.
- Unreliable backtesting

Broker
- MT4 is a retail platform which is designed to make the broker rich.
- High leverage offered is often misused
- Demo performance is vastly different from live performance
- Spreads are high and unpredictable
- Slippage/Re-quotes always work against the trader
- Order placement favors the broker
- Execution delays
- EAs relying on a chart 'tick' to execute

Environmental
- Power failures
- Internet failures
- Hardware failures

The broker is the biggest risk here. They can take a profitable strategy
and make it unprofitable.

Metatrader 4 is a great platform to prototype a trading strategy, but if
you are serious about making money, you will have to move the automation
to an ECN broker with low commissions and a half decent API.

Good luck. You will need it.

Coder
  • #24
  • Jan 23, 2008 8:29am Jan 23, 2008 8:29am
Hi Smjones..

Do u mind to share the EA with me?

Quoting smjones
I wrote this last August and it has been running live ever since..

I think the really good strategies do not get published.

I have not made any adjustments to it since I started it. August 01,2006

These are actual trades, not backtesting or forward testing.

The lots are at a fixed amount. If I used a more agreesive money managment scheme, this would produce even higher numbers... But, I hate risk.... So I keep it ultra conservative. I have, from the beginning used a .20 lot size, or $2 per pip and have not increased it... I may do some sort of percent of stop or account eq in the future.

The bottom line is.... EAs work as well as the person that wrote and executed them. EAs are just another tool and nothing more.
  • #25
  • Last Post: Jan 24, 2008 9:29pm Jan 24, 2008 9:29pm
Quoting smjones

The bottom line is.... EAs work as well as the person that wrote and executed them. EAs are just another tool and nothing more.
-----
In my experience, any EA can be effective at the start, and fail over time. The key is continuous development, that is why MetaQuotes allows you to use the MQL 4 structure free. If you buy an EA don't expect to 'set it and forget it' for very long, even the best ones need to be tuned before they turn your profits into loss. An alternative would be to subscribe to a professional service group that will rent you strategy systems, if you need any recommendations let me know, but their easy to find (do your homework!).
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