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Best Metatrader Robot?

  • #1
  • First Post: Jun 4, 2008 9:39am Jun 4, 2008 9:39am
Hi friends, I will like someone to recommend the best Robot trader on a metatrader platform. I mean that makes around 50% growth when u risk 1% of your account. thanks
  • #2
  • Jun 4, 2008 11:54am Jun 4, 2008 11:54am
I don't want to sound synical, but it ain't that easy. EAs (robots) come and go, some work today, some don't work tomorrow, however ALL will drain your account if left uunattended for too long. I have seen my account up 200% in a few days, to be emptied in only a few hours. I would recommend you find a style of trading that you like and understand. ie, moving aveages, Fibbs, Channels, what have you, demo that by hand, or backtest by hand. if you like that style, search for an EA (robot) that trades that way, then demo that for a while, until you feel it works the way you think it should. then go live using the smallest risk available. I am currently using .0x of a mini lot. So less then $0.10 US per pip. This is to check if my system currently works as well live as it did on demo (they never do) Let it run for a while under live conditions and see how it behavies during news, during slow hours, during market opening and closing, etc... If it still works for you, start increasing the lots traded, but be sure you fully understand Money management. And make sure your EA has money management options.

And to keep this on topic, I have used both 'Firebird', and 'Goblin' to some degree of success, but ultimately they both blew up my account. I only traded money I did not need to live, and considered the lost money and tuition for my education. I still use EAs but don't expect them to make millions. if someone had a 'Holy Grail' it would be well garded. Don't be discouraged, Learn.


Rusty
I hope I didn't offend
  • #3
  • Jun 4, 2008 12:00pm Jun 4, 2008 12:00pm
Quoting uncletrumpet
Hi friends, I will like someone to recommend the best Robot trader on a metatrader platform. I mean that makes around 50% growth when u risk 1% of your account. thanks
Here you are my friend.Makes more that 50% and no risk
Sorry but I don't know if is the best
http://i260.photobucket.com/albums/i...ualDealer1.jpg
  • #4
  • Jun 4, 2008 1:10pm Jun 4, 2008 1:10pm
Quoting ILclitoride
Here you are my friend.Makes more that 50% and no risk
Sorry but I don't know if is the best

Pic deleted by Rusty105
ILclitoride,
that wasn't really called for, now was it? There are EAs that can make money, and do well. But they are few and far between, and still need to be watched. One of the problems is that they only handle 1 type of market. be it trending, or ranging. And when the market changes the EA has to also, and they don't. you then have to find another EA. They are just tools. You wouldn't use a wrench to drive in a nail. Would you? Just like you wouldn't use a ranging EA like Firebird in a trending market. It gets it's a$$ whipped.

Rusty
  • #5
  • Jun 4, 2008 1:26pm Jun 4, 2008 1:26pm
Rusty,

As rude as this may sound, ILclitoride is partly right. Most of the forex profits are made at the interbank level, not through retail brokers.

Retail brokerages account for 25-50 billion of the market, compared with the daily volume of 1 trillion dollars between various banks, we hardly can make a dent. It's the big banks that determine what price each pair is unfortunately.
  • #6
  • Jun 4, 2008 3:28pm Jun 4, 2008 3:28pm
Quoting rusty105
I don't want to sound synical, but it ain't that easy. EAs (robots) come and go, some work today, some don't work tomorrow, however ALL will drain your account if left uunattended for too long......
Rusty, I believe you are correct, but that's because most EAs are simply not "intelligent" enough. Any discretionary method, no matter how abstract, can potentially be programmed; the only requirement is that there is some rationale behind the decision making process that is being applied consistently. Details in my post here: http://www.forexfactory.com/showthread.php?p=2005324

If approaches (e.g. James16, Jacko) are genuinely long-term profitable, then it's possible for an EA to be profitable likewise.

David
  • #7
  • Jun 4, 2008 3:33pm Jun 4, 2008 3:33pm
there are consistently profitable EA's but you will not find them for sale. You need to ask yourself when you are evaluating a commercially available ea why are they selling it? If it is that profitable, why not keep it to yourself and get rich without all of the headaches of dealing with customers, credit card fraud,etc.
  • #8
  • Jun 4, 2008 3:46pm Jun 4, 2008 3:46pm
Quoting magnumfreak
there are consistently profitable EA's but you will not find them for sale. You need to ask yourself when you are evaluating a commercially available ea why are they selling it? If it is that profitable, why not keep it to yourself and get rich without all of the headaches of dealing with customers, credit card fraud,etc.

Best EA

It's only 20 pages.
The basis of a democratic state is liberty. ~ Aristotle
  • #9
  • Jun 4, 2008 4:05pm Jun 4, 2008 4:05pm
Quoting Vensik
Best EA

It's only 20 pages.
those are ok ea's definitely not the best.

ok, maybe the best on FF.
  • #10
  • Jun 4, 2008 4:06pm Jun 4, 2008 4:06pm
The best EA is the account copier EA.

Use it to copy the trades of the other EAs in the Automated Trading Championship.
  • #11
  • Jun 4, 2008 4:31pm Jun 4, 2008 4:31pm
Quoting hanover
Rusty, I believe you are correct, but that's because most EAs are simply not "intelligent" enough. Any discretionary method, no matter how abstract, can potentially be programmed; the only requirement is that there is some rationale behind the decision making process that is being applied consistently. Details in my post here: http://www.forexfactory.com/showthread.php?p=2005324

If approaches (e.g. James16, Jacko) are genuinely long-term profitable, then it's possible for an EA to be profitable likewise.

David
Quoting magnumfreak
there are consistently profitable EA's but you will not find them for sale. You need to ask yourself when you are evaluating a commercially available ea why are they selling it? If it is that profitable, why not keep it to yourself and get rich without all of the headaches of dealing with customers, credit card fraud,etc.
hanover, I agree most EAs are borderline stupid. They trade ranging, or trending, then get chewed up when it switches. I have been spending some time lately trying to figure a way to combine the 2. it's a start, but I think it may be a long time before I figure it out. The hardest part is setting the rules.

magnumfreak, I agree, if I had a killer EA, I would not sell it either, and definitely not for a couple hundred dollars. I have no intention of buying any EA, robot, or signal. There are just too many unknowns out there. I have some programing skills, not the best, or fastest, but I can code. I have done some manual trading, and have a few things I would like to try as an EA, but I don't have much time, and would rather work on this myself so I can understand how each part of the EA works. Will I get rich? Who knows, but I am not going to go broke trying.

Ronald Raygun, I know we are just a fly on a horse's back, but money can be made by the little man!


Rusty
  • #12
  • Jun 4, 2008 5:51pm Jun 4, 2008 5:51pm
Quoting magnumfreak
there are consistently profitable EA's but you will not find them for sale. You need to ask yourself when you are evaluating a commercially available ea why are they selling it? If it is that profitable, why not keep it to yourself and get rich without all of the headaches of dealing with customers, credit card fraud,etc.
It seems to be like the Real Estate Seminar group. If your program really IS so great, why WOULD you want to mess with a room full of clamoring customers.

What I DO understand is sharing the process and results when called for. That's one of the things that drives me with this 4x market. You can bet however if I ever reach that level that the wealth will be shared, not sold.
  • #13
  • Jun 4, 2008 7:22pm Jun 4, 2008 7:22pm
Quoting uncletrumpet
Hi friends, I will like someone to recommend the best Robot trader on a metatrader platform. I mean that makes around 50% growth when u risk 1% of your account. thanks
The best one? I think the best one is the one you find yourself! What works for one person might not work for another due to many factors.
  • #14
  • Jun 4, 2008 7:24pm Jun 4, 2008 7:24pm
Quoting uncletrumpet
Hi friends, I will like someone to recommend the best Robot trader on a metatrader platform. I mean that makes around 50% growth when u risk 1% of your account. thanks
Wait, you want an EA which technically returns 5,000%? Dream on! They don't exist for free!
  • #15
  • Jun 5, 2008 3:57am Jun 5, 2008 3:57am
I have seen my account up 200% in a few days, to be emptied in only a few hours. I would recommend you find a style of trading that you like and understand. ie, moving aveages, Fibbs, Channels, what have you, demo that by hand, or backtest by hand. if you like that style, search for an EA (robot) that trades that way, then demo that for a while, until you feel it works the way you think it should. then go live using the smallest risk available.

Rusty
I hope I didn't offend[/quote]

I have been demo trading this work of Don steinitz and it is reliable it scans if the market is trending or ranging. but i put my hope in God to guard and guide me in the trading.
  • #16
  • Jun 5, 2008 6:28am Jun 5, 2008 6:28am
Quoting Ronald Raygun
Wait, you want an EA which technically returns 5,000%? Dream on! They don't exist for free!

Easy now. I think the original poster was trying to say he is looking for an EA that has the ability to gain 50% while ricking 1%. No time frames were mentioned, so that 50% may take a year to gain. I think it may be time to ask the OP to clarify some points of this system.

Rusty
  • #17
  • Jun 5, 2008 6:35am Jun 5, 2008 6:35am
Quoting uncletrumpet
Quoting rusty105
I have seen my account up 200% in a few days, to be emptied in only a few hours. I would recommend you find a style of trading that you like and understand. ie, moving aveages, Fibbs, Channels, what have you, demo that by hand, or backtest by hand. if you like that style, search for an EA (robot) that trades that way, then demo that for a while, until you feel it works the way you think it should. then go live using the smallest risk available.

Rusty
I hope I didn't offend
I have been demo trading this work of Don steinitz and it is reliable it scans if the market is trending or ranging. but i put my hope in God to guard and guide me in the trading.

uncletrumpet,

Could you explain your original post a little more. Are you are looking for an EA that will only risk 1% of your accout per trade, which is probably a good idea, some say 0.5% is better. And do you want to increase your account size 50% on this 1 trade?? Or it there some time frame that we missed. I am not familiar with the work of Don Steinitz, could you provide a link, or explain the system a little more?
  • #18
  • Jun 5, 2008 6:44am Jun 5, 2008 6:44am
Quoting rusty105
Easy now. I think the original poster was trying to say he is looking for an EA that has the ability to gain 50% while ricking 1%. No time frames were mentioned, so that 50% may take a year to gain. I think it may be time to ask the OP to clarify some points of this system.

Rusty
Still Rusty, it'll end up being a 5,000% increase with whatever timeframe you give it.
  • #19
  • Jun 5, 2008 7:21am Jun 5, 2008 7:21am
Quoting Ronald Raygun
Still Rusty, it'll end up being a 5,000% increase with whatever timeframe you give it.
How can I explain this? I can't, because no system will allow you to increase your account balance by 50%, in 1 trade, while only risking 1% of your account. Maybe going to Vegas and puting 1% on 1 number at Roulette, but even then the payout is ony 35:1. And if your 5000% is based on 50% multiplied by 100 (as 100 X 1%) you forgot to include the profits from each sucessive trade in the amount risked (compounding your winnings). you would get to your 5000% gain a lot quicker then 100 trades, if all were winners of course.

Lets hold off this system bashing, and wait for more info from uncletrumpet, so we can answer his original question.

Rusty
  • #20
  • Jun 5, 2008 8:06am Jun 5, 2008 8:06am
Quoting uncletrumpet
but i put my hope in God to guard and guide me in the trading.
Oh, well if that's all your looking for flip a quarter and let God take care of the market.
The basis of a democratic state is liberty. ~ Aristotle
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