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do expert advisors really work

  • #21
  • Jun 3, 2009 10:40am Jun 3, 2009 10:40am
So confident in it--i opened up my own sell orders with it--let see--
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  • #22
  • Jun 3, 2009 10:47am Jun 3, 2009 10:47am
analysis with ZZ and Stoch
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  • #23
  • Edited 11:49am Jun 3, 2009 11:36am | Edited 11:49am
Quoting akukaya
analysis with ZZ and Stoch
--OKAY target point Hit--

Hope you didn't cancell your orders akukaya..lol---i wasn't kidding when i called it myholygrail---
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  • #24
  • Jun 3, 2009 11:48am Jun 3, 2009 11:48am
annd soome---lol
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  • #25
  • Jun 3, 2009 12:02pm Jun 3, 2009 12:02pm
Trading with EA's is possible, but you need to know what you are doing. You can't just set an EA going and just leave the thing to make you money - it will not work.

You need to give the EA the benefit of your brain, allow it to trade when the market is optimal for it. Stop it as soon as you perceive your edge is no longer there - this is the only safe way to trade with an EA.

If you leave it running through all market conditions you will always lose more than you make - there is no EA that I have seen or believe shall ever exist that you can just set and forget.

It's just like robots of today, they are only ok at doing what they are programmed to do, you can buy robots to cut your grass, to walk up steps, to run, but everything is specific. It is only programmed to do what the program tells it to do - there is no mind inside - its shiny on the outside and as dull as c$%p on the inside.

Select an arsenal of robots that are good for different market conditions and then choose carefully when to turn each one on or off.

I use my own brain and also my own robot, my robot would be useless without its father - learn to become parents and you won't go far wrong.
June 09, account growth so far this month 27%
  • #26
  • Jun 3, 2009 12:10pm Jun 3, 2009 12:10pm
Of course Robots work! Better to ask DOES THE STRATEGY WORK!? - The problem with most EA's are that they are not flexible enough to deal with loss periods without intervention. Making money is easy when things are going your way but what happens when the currency turns? Usually human intervention is needed to stop the bleeding. I always design my EA's to PRESERVE CAPITAL First!! (so that they automatically know how to save my A$!@) - Always have enough cash to come back at 'em. - Defense wins championships in Sports and FX!! - http://fxstats.mt4stats.com
  • #27
  • Jun 3, 2009 12:25pm Jun 3, 2009 12:25pm
Thats why the only type of EA i can go to bed and not worry much about is a scalper EA---little pips and i think i have found one---Funny, Ever since i discovered VSA trading i haven't used it much--

NO EA with a yes or no running it , will ever beat the human brain-Well, at least not yet-lol
  • #28
  • Edited 12:57pm Jun 3, 2009 12:35pm | Edited 12:57pm
I agree that Robot will NEVER beat Man in forex trading - Its too subjective and based on human emotions (greed & fear) BUT a properly programmed bot can be profitable. I can't trade Forex manually - 24/5 is too much and you need a constant info feed along with nice manual skills to play the game. Thats why pro traders on wall street usually burn out in 3-5 years. I'd much rather give the job to a Robot! - I dont watch screens. I only fine tune the programming occasionally - I NEVER manually intervene!! - And simply adjust the code if needed but usually a decent stop strategy will prevent most serious mishaps (newbies think they know what the market is gonna do and trade without stops - THATS A PRO ONLY TRICK!!)

So Yep, A robot can trade profitably but a human will ALWAYS be better BUT hey I gotta have a life and get some sleep during the week. (Also I don't scalp but I can go to sleep easily as long as I know the VPS is running)
  • #29
  • Jun 4, 2009 4:17pm Jun 4, 2009 4:17pm
Humans have vastly superior analysis skills – very important for entry setups.

A robot will always be more disciplined than a human – perfect for exits. Set and forget; walk away and enjoy your leisure. Eliminate MM and psychology from the equation.

Use each resource to its best possible advantage.
  • #30
  • Jun 4, 2009 5:36pm Jun 4, 2009 5:36pm
Quoting hanover
Humans have vastly superior analysis skills – very important for entry setups.

A robot will always be more disciplined than a human – perfect for exits. Set and forget; walk away and enjoy your leisure. Eliminate MM and psychology from the equation.

Use each resource to its best possible advantage.
Hello and good day Hanover.

You are exceptional and very correct. Please Hanover, I seek a code, that would do the following:

So far the conditions for opening trade are met:

The code should:
Allow ONLY a set number (changeable value) of trade positions (eg. two trade positions) to be opened for each and every candlestick in whatever timeframe.

Could you help me please.

D8D3.
  • #31
  • Jun 4, 2009 6:22pm Jun 4, 2009 6:22pm
Quoting hanover
Humans have vastly superior analysis skills – very important for entry setups.

A robot will always be more disciplined than a human – perfect for exits. Set and forget; walk away and enjoy your leisure. Eliminate MM and psychology from the equation.

Use each resource to its best possible advantage.
do you know such EA ? One that manage exit because this is what is killing me all the time (many trade close at BE because i can't manage them because of work). Beside using trailing EA (i know some of them), is there an good exit EA available ?
  • #32
  • Jun 4, 2009 7:21pm Jun 4, 2009 7:21pm
You can freely find EA's to manage your trade, but you still need to tell it what to do. Telling it what to do is dependent on the style of trading that you are using.

There was one EA I came across which you could set to scaleout at pre-defined profit targets, to move your stop at various increments and also trail. I'm sure if you do a quick search on the forum you will discover it.

My experience of trailing stops is that they are a poor way to manage trades, they may have merit if you want to trade the news, or fast moving markets, but other than that would stay away.

My style of trading learned over many years and getting stopped out only to see my prediction continue, is to leave plenty of room for the trade to breathe. Many people practise trailing stops using the pivots formed, this in my view is superior to many other strategies, but have not come across an EA that does it, although not difficult to programme. Having said that, if you are a trend trader, I prefer to not move the stop until many factors that indicate you have gone beyond key confluent points (fib, S&R, double 00, pivots etc) have been confirmed. This is the best method, but again, no EA that I know of can do this - I would pay good money for something like that!

Now, what you are asking is pretty much a conundrum. If there was a great EA to manage your exit,then, by default it would be used as an EA to enter the market at random and because it was so good at exiting, it would turn any trade profitable. I think maybe you may have taken a previous comment in the wrong context. Sure, the human can select the method for an EA to exit but if you are not disciplined as a trader you will only go and tinker with it anyway. How many times have you moved your stop wider and wider.

What I am trying to say is, EA's need to be operated by humans, they are tools to enable us to do repetative and brainless jobs. The EA's success is therefore implicitly part of the skill of the human. If the human has a problem with their ability to maintain discipline and react to emotions then the best EA in the world will not help.

A bad workman blames his tools, a poor trader looks for tools to blame, 1st learn to trade, then look for tools to help make trading easier.

Again, don't want to upset anyone, just trying to help everyone understand, particularly the newbies to this game the pitfalls so many fall into.
June 09, account growth so far this month 27%
  • #33
  • Edited 10:02pm Jun 4, 2009 8:06pm | Edited 10:02pm
Have you looked at this ea http://www.forexfactory.com/showthread.php?t=168347
If not I suggest you do.

Regards,
Jeff

Quoting happyaslarry
You can freely find EA's to manage your trade, but you still need to tell it what to do. Telling it what to do is dependent on the style of trading that you are using.

There was one EA I came across which you could set to scaleout at pre-defined profit targets, to move your stop at various increments and also trail. I'm sure if you do a quick search on the forum you will discover it.

My experience of trailing stops is that they are a poor way to manage trades, they may have merit if you want to trade the news, or fast moving markets, but other...
  • #34
  • Jun 4, 2009 10:48pm Jun 4, 2009 10:48pm
Quoting azjeff
Have you looked at this ea http://www.forexfactory.com/showthread.php?t=168347
If not I suggest you do.

Regards,
Jeff
Do you know anyone publish any trades in mt4stats for the ea you mention. Just interested to know.
  • #35
  • Jun 4, 2009 10:55pm Jun 4, 2009 10:55pm
I believe people have posted something about that in the thread. You should go through the thread and if you are interested in the ea put it on a demo and try it out. If anyone has any questions on it they will need to make a post in that thread.

Regards,
Jeff

Quoting akukaya
Do you know anyone publish any trades in mt4stats for the ea you mention. Just interested to know.
  • #36
  • Jun 5, 2009 12:21am Jun 5, 2009 12:21am
Dear all Senior member,

I'm a newbie in EA and have tried to build my own using available template at some Web. I backtested with 6 months history data (Jan - June 2009) and the result is about 15% monthly (every month is different, sometimes 25% but other month -8%, so on)
So I need your suggestion about this yield ... I'm actually not so satisfied and need to improve such as insert Max Consecutive Loss .. is it possible ?
Thanks Bro ..
  • #37
  • Jun 5, 2009 2:03am Jun 5, 2009 2:03am
@D8d3: Sorry, I'm not able to take on any new work at the moment. There are a number of programmers who post at FF that could help. There are a couple of threads like "I will code your requests for free". You might like to try sending one of them a Private Message.

@Melpheos: I'm slowly automating my trading method, expecially the exits. It's very much a work in progress. Here are two trade management EAs that I'm aware of, but I haven't tried either of them.
http://www.forexfactory.com/showthread.php?t=89371
http://www.forexfactory.com/showthread.php?t=9553

@Happyaslarry: I can relate to much of what you say. If TA can offer an edge with entries, then technical exits should potentially do likewise, since the market (except possibly for broker manipulation) cares little for whether I'm entering or exiting. I haven't been able to calculate/establish a mathematical edge with fixed (TP/SL) type, i.e. non-technical, exits. IMO win rate and RR operate in approximately inverse proportion to each other. I'm not aware of an EA that specifically uses technical (e.g. S/R, pivots, 00 type) exits.

I don't find discipline too much of a problem (especially as I'm trading mainly in demo, LOL). If one TP/trailing stop works approximately as well as any other, then I'm happy to simply place the trade and walk away, come what may. Using relative currency strength and multi-time-frame analysis as part of my entry strategy makes automating it a significant task. And it is a work in progress, I am still very much learning.
  • #38
  • Jun 5, 2009 2:09am Jun 5, 2009 2:09am
Hi Balada,

I'm not a senior member, but perhaps I can offer some advice whilst sat here waiting for todays trading opportunities.

The concept of max loss is fairly simple in terms of coding and hats off to you for building your skills and learning to code, keep at it and each day you will learn new things.

Before you go down the path of excitement about the results look carefully at what you have created, particularly important is the style of EA you have created. As an example, if it is a scalper, taking trades for not very many pips, then please make sure that you have considered the backtest results with a view to spread and slippage as these exist in the real world. A great many people new to backtesting overlook this, believe me that in the majority of cases their hopes are dashed against the wall when the reality is visible when forward testing.


The other area to consider also, is to look at how you may have filtered your trades - often the best of people fall into the trap of over optimising and ending up with a curve fitted EA. This is a classic trick of all the scammers selling their glitzy Robots.

Now, I am a Tradestation programmer so can't offer advice on your particular coding problem, nor is this thread about coding. There are many threads on here that will be able to really help you and a simple search will provide you with where to find it.

I hope this was of some use - happy programming....
June 09, account growth so far this month 27%
  • #39
  • Last Post: Jun 5, 2009 5:06pm Jun 5, 2009 5:06pm
Quoting happyaslarry
You can freely find EA's to manage your trade, but you still need to tell it what to do. Telling it what to do is dependent on the style of trading that you are using.

There was one EA I came across which you could set to scaleout at pre-defined profit targets, to move your stop at various increments and also trail. I'm sure if you do a quick search on the forum you will discover it.

My experience of trailing stops is that they are a poor way to manage trades, they may have merit if you want to trade the news, or fast moving markets, but other...
I perfectly get your point

Quoting hanover
@D8d3: Sorry, I'm not able to take on any new work at the moment. There are a number of programmers who post at FF that could help. There are a couple of threads like "I will code your requests for free". You might like to try sending one of them a Private Message.

@Melpheos: I'm slowly automating my trading method, expecially the exits. It's very much a work in progress. Here are two trade management EAs that I'm aware of, but I haven't tried either of them.
http://www.forexfactory.com/showthread.php?t=89371
http://www.forexfactory.com/showthread.php?t=9553

@Happyaslarry: I can relate to much of what you say. If TA can offer an edge with entries, then technical exits should potentially do likewise, since the market (except possibly for broker manipulation) cares little for whether I'm entering or exiting. I haven't been able to calculate/establish a mathematical edge with fixed (TP/SL) type, i.e. non-technical, exits. IMO win rate and RR operate in approximately inverse proportion to each other. I'm not aware of an EA that specifically uses technical (e.g. S/R, pivots, 00 type) exits.

I don't find discipline too much of a problem (especially as I'm trading mainly in demo, LOL). If one TP/trailing stop works approximately as well as any other, then I'm happy to simply place the trade and walk away, come what may. Using relative currency strength and multi-time-frame analysis as part of my entry strategy makes automating it a significant task. And it is a work in progress, I am still very much learning.
Thanks for pointing the multi purpose EA (i allready knew the Manage Take Profit) i'll have a look into it.
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