Do You Make Money purely by using an EA | Forex Factory

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Do You Make Money purely by using an EA

  • #1
  • First Post: Apr 11, 2008 2:33am Apr 11, 2008 2:33am
I'm not interested in what ea you use or anything other than...

...Do you make a living from your ea?


And if so for how long have you done so?

I am not interested in demo accounts or backtesting. Purely making a living.

I hear so many people say it can't be done so I am interested if it can!

thanks

max
Gravity goes both ways in forex...
  • #2
  • Apr 11, 2008 3:24am Apr 11, 2008 3:24am
Good question. I've tested LOADS of EAs, I even tried writing my own manual strategy and gave up in the end. I do know of one person however who claims to just turn his PC on and let it do its thing.
The market reveals who we really are...
  • #3
  • Apr 11, 2008 4:58am Apr 11, 2008 4:58am
Quoting shadowninja
I do know of one person however who claims to just turn his PC on and let it do its thing.
What, and he's not sharing the EA with you? Tut tut.
  • #4
  • Apr 22, 2008 5:27pm Apr 22, 2008 5:27pm
Anyone?

Max
Gravity goes both ways in forex...
  • #5
  • Apr 22, 2008 5:37pm Apr 22, 2008 5:37pm
Quoting forexmoments
What, and he's not sharing the EA with you? Tut tut.
TBH, I never thought to ask. Bit rude, I guess. "Hey, mister, you have a pretty wife... can I have a go?"

The market reveals who we really are...
  • #6
  • Apr 22, 2008 6:02pm Apr 22, 2008 6:02pm
Quoting shadowninja
TBH, I never thought to ask. Bit rude, I guess. "Hey, mister, you have a pretty wife... can I have a go?"


Good answer


Famous Ozzy song - 'Do you F**k on first dates, does your dad own a brewery... 'etc. The point is, if you dont ask, you don't get!!

Max
Gravity goes both ways in forex...
  • #7
  • Apr 22, 2008 6:36pm Apr 22, 2008 6:36pm
Where I come from, if you ask those kind of questions you get an ambulance to the local hospital.
The market reveals who we really are...
  • #8
  • Apr 22, 2008 7:23pm Apr 22, 2008 7:23pm
to answer the orginal posters question: yes.

I make a living from my forex income approximately 70-80% comes from an EA and the remainder from my trading. Right now, I still like the challenge of trading live so I continue to do it. Eventually, I will allow the ea to run everything while I work on other projects.

I have been running the EA since late November 2007.

There is approximately 400-500 hours of development time on the EA and I continually refine it. Right now it trades really close to the same way I trade live. Really kind of spooky to watch it. The biggest advantage is watching it control and manage 10-20 simultaneous trades much faster and more efficiently than any human could. Opening the trades, managing stops, taking profit at different levels, closing the trades, etc. It has even become smart enough to not get trapped in choppy markets. Once it is detected, it will wait until certain conditions move to extremes. If you include all of the associated indicators there is about 6,000 lines of code working on the EA.

The next phase of the project is to convert it from metatrader to an ECN with an API to get better order fills and tighter spreads.

The EA is not available commercially nor will it be made available. I developed the EA in conjunction with a really good forex trader
  • #9
  • Apr 22, 2008 9:53pm Apr 22, 2008 9:53pm
Quoting magnumfreak
to answer the orginal posters question: yes.

I make a living from my forex income approximately 70-80% comes from an EA and the remainder from my trading. Right now, I still like the challenge of trading live so I continue to do it. Eventually, I will allow the ea to run everything while I work on other projects.

I have been running the EA since late November 2007.

There is approximately 400-500 hours of development time on the EA and I continually refine it. Right now it trades really close to the same way I trade live. Really kind of spooky to watch it. The biggest advantage is watching it control and manage 10-20 simultaneous trades much faster and more efficiently than any human could. Opening the trades, managing stops, taking profit at different levels, closing the trades, etc. It has even become smart enough to not get trapped in choppy markets. Once it is detected, it will wait until certain conditions move to extremes. If you include all of the associated indicators there is about 6,000 lines of code working on the EA.

The next phase of the project is to convert it from metatrader to an ECN with an API to get better order fills and tighter spreads.

The EA is not available commercially nor will it be made available. I developed the EA in conjunction with a really good forex trader
Ah, so there is hope for me to become a full time surfer whilst the dollars roll in automatically! So now I just have to find a system.......

Max
Gravity goes both ways in forex...
  • #10
  • Apr 23, 2008 3:41am Apr 23, 2008 3:41am
Quoting shadowninja
TBH, I never thought to ask. Bit rude, I guess. "Hey, mister, you have a pretty wife... can I have a go?"

Lol, funny shit.
  • #11
  • Apr 23, 2008 11:20am Apr 23, 2008 11:20am
Quoting max pips
Ah, so there is hope for me to become a full time surfer whilst the dollars roll in automatically! So now I just have to find a system.......

Max
Good luck, then. For searching the right system alone is not a less daunting task. And when you do find it, there might be another problem. Not all system can be automated (Like 4H MACD by Philip Nell, for example). Even if it does, there will be the last hindrance: yourself.

The best EA will surely give you money automatically. But it won't give you the same satisfaction as you trade yourself. In the end, when you do find one, you'll use it only as a backup---in case something gone wrong with your manual trading and you loss big time. Else, you'll abandon the idea completely and trade manually---for, with the right system, you'll find that manual trading give you money as well as satisfaction.
  • #12
  • Last Post: Apr 23, 2008 5:07pm Apr 23, 2008 5:07pm
who says money can't be satisfaction. I live five minutes from 6 beaches. I think I could find plenty to do if I had a fully automated system. That said I think there is far more likelihood of suceeding at forex if I trade manually. The final indicator in most systems is after all user discretion!

Max
Gravity goes both ways in forex...
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