an EA that worked forever

Yawn.

this is an update to the post I made on June 9, 2011.

There's no EA that will make money forever since the markets are always changing. To everyone looking into Trading with EA's I humbly request you check out this guys blog:

www.grailtrading.blogspot.com/

Its his journey with his Grail EA how he made over 100k. It's a real interesting read how he made so much money and then the EA failed. Even investment funds were using it.

Read through the blog. It will give you real insight why to stay away from ea's. Now the author is trading manually.

if EA's werent profitable, people would have dumped the idea since. So many people own profitable EA's but are not willing to share for what so ever reason there may be. EA's are priceless possessions. Especially when there are commercial individuals ready to steal the idea and sell to others without your permission.

It is also very important to note that EA's have optimum conditions and Bad market conditions. you will dumb to trade an EA all day that doesn't know favourable hours, trend or days or lacks the ability to analyse and spot false trades.

We all trade Forex because there are repetitive patterns over the years, what have worked before is likely going to work again but "when?" is the question nobody can really answer.

I believe there are few profitable EAs but they cannot be sold. The point of trading is to outsmart others. And I believe that banks (who are the real movers of the market) are watching forums too to get something useful for them. I believe that EAs for sale are not profitable. I tried many of them, a lot, myriads. It is all illusion.

I use an EA but it is based on a manual strategy.. If the market does this and exceeds price by xxx buy does not close above yyyy, sell with a stop 20 pips above the prior high (or something like that)...

Once you enter this in the EA, attach it to a chart and let it run the trade.. You can be on vacation or whatever.. it will wait until your conditions are visible on the chart (per the market price action) and then execute the trade. Other than that, I fail to see how any algorithm or formula could work on a consistent basis. I think most EAs look at historical patterns to repeat but when the patterns are new and don't fit the formula, you find yourself either with a huge drawdown or a somber message from your broker that all positions were closed due to insufficient margin (basically, you just blew your account).

This happened to me twice on EAs that were highly touted. I was skeptical and luckily, put only money I could afford to lose, like a gamble or bet at a casino. Test it for a month using a small amount of cash and you'll notice that while some do show a profit, eventually, the losses add up and your meager bet goes south as your account gets blown out.

Only way to make money with EA is to develop one and market the snakeoil to one and all..

I also use an EA, for the past two months, and its turning Ok for me. It's based in manual strategy or it can be fully automatic

Got to ask, how does the manual version work? Just as same as the auto version, highlighting entry and exit positions? And how many trades does the EA suggest on a weekly basis and profit %..

What I mean is that I can watch other traders (the ones I follow) and decide to trade or not, that way or not, so that's why I called it "manual", maybe did'nt use the proper word

I'm following a few SP for now, but I've got an weekly average of around 12%, this in a couple of months, so very happy with that.