Forex Demo Account Contests & EAs? | Forex Factory

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Forex Demo Account Contests & EAs?

  • #1
  • First Post: Oct 7, 2013 12:49am Oct 7, 2013 12:49am
Hello,

There are so many Demo Account contests going on giving away hundreds of thousands of dollars, so I have a few questions:

How do so many people accumulate thousands of pips in one month?
Do they use an EA that somehow only work on demo accounts?

Any input is appreciated, thanks.
  • #2
  • Oct 7, 2013 12:55am Oct 7, 2013 12:55am
Quoting thesiusmaxim
Hello, There are so many Demo Account contests going on giving away hundreds of thousands of dollars, so I have a question: How do so many people accumulate thousands of pips in one month? Do they use an EA that somehow only work on demo accounts? Any input is appreciated, thanks.
It's quite easy to get thousands of pips in a single month. Instead of opening a single position, open multiple positions.

Example:

1/ You have a single position (1 lot) and close it with 10 pips profit.

2/ You have 10 positions (0.1 lot each) and close them with 10 pips profit.

The result in $ is the same ... but the pips count is 10 times greater in point #2.
MT4/MT5 EAs/Indicators/Alerts coder
  • #3
  • Oct 7, 2013 1:01am Oct 7, 2013 1:01am
Interesting, however I can't get my head around how they do it 'successfully'.

I doubt most people here on FF could even get 1000 pips per month successfully (myself included), whereas those guys earn upward of 13,000 pips per month.

Is that humanly possible or do EA's exist that work so well on demo?
  • #4
  • Oct 7, 2013 1:07am Oct 7, 2013 1:07am
Quoting thesiusmaxim
I doubt most people here on FF could even get 1000 pips per month successfully
Please don't think that because you can't do it (so far) that means that other can't ...

I currently have on a Live account 1,200+ cumulated pips in multiple positions opened on last thursday ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #5
  • Oct 7, 2013 1:15am Oct 7, 2013 1:15am
Quoting FerruFx
{quote} Please don't think that because you can't do it (so far) that means that other can't ... I currently have on a Live account 1,200+ cumulated pips in multiple positions opened on last thursday ...
Wow, well done. So I guess it 'is' humanly possible to accumulate thousands of pips per month. Well that answers my question then.
  • #6
  • Oct 7, 2013 1:32am Oct 7, 2013 1:32am
Quoting thesiusmaxim
{quote} Wow, well done. So I guess it 'is' humanly possible to accumulate thousands of pips per month. Well that answers my question then.
Keep in mind that if it's possible to make thousands of pips per month ... it's also possible to lose thousands of pips per month.
MT4/MT5 EAs/Indicators/Alerts coder
  • #7
  • Oct 7, 2013 1:41am Oct 7, 2013 1:41am
Quoting FerruFx
{quote} Keep in mind that if it's possible to make thousands of pips per month ... it's also possible to lose thousands of pips per month.
Which is why I admire the people who can keep these thousands of pips on a monthly basis.

It's pretty hard though to lose thousands of pips per month, I've tried. I just can't do it either way.

Some demo competitions don't even allow the winner to enter after he won the previous month, or he'll do it over and over again and scoop up the real cash prize.
  • #8
  • Oct 7, 2013 3:37am Oct 7, 2013 3:37am
Quoting FerruFx
... I currently have on a Live account 1,200+ cumulated pips in multiple positions opened on last thursday ...
All closed for a cumulated 1,100 pips or so ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #9
  • Oct 7, 2013 3:44am Oct 7, 2013 3:44am
Wow, how do you do that? I've only gained about 30 pips since last week thursday.
  • #10
  • Oct 7, 2013 3:46am Oct 7, 2013 3:46am
Quoting thesiusmaxim
Wow, how do you do that? I've only gained about 30 pips since last week thursday.
24 pairs ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #11
  • Oct 7, 2013 8:49am Oct 7, 2013 8:49am
Quoting FerruFx
{quote} 24 pairs ...
Hi FerruFx , I ve heard about u , Have u got ur own thread , I believe Volume and Fibonacci Retracement and PASR are the best ???? , I don't believe in E A ,And i 'm using weekly charts, Want to learn from you please Malcolm .
  • #12
  • Oct 7, 2013 8:58am Oct 7, 2013 8:58am
Quoting terminator12
{quote} Hi FerruFx , I ve heard about u , Have u got ur own thread , I believe Volume and Fibonacci Retracement and PASR are the best ???? , I don't believe in E A ,And i 'm using weekly charts, Want to learn from you please Malcolm .
I don't trade a single indicator ... only the price and my eyes ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #13
  • Oct 7, 2013 1:13pm Oct 7, 2013 1:13pm
Quoting FerruFx
{quote} I don't trade a single indicator ... only the price and my eyes ...
Ok i ll follow u , I take out indicators now , I know that Professional traders say Indicators are useless , I'm trying to build up third eyes ,
  • #14
  • Oct 7, 2013 1:18pm Oct 7, 2013 1:18pm
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpymweekly.png Size: 58 KB


FerruFx , That's the charts ,I m using ,
  • #15
  • Oct 7, 2013 6:59pm Oct 7, 2013 6:59pm
Quoting terminator12
{quote} Ok i ll follow u , I take out indicators now , I know that Professional traders say Indicators are useless , I'm trying to build up third eyes ,
Why following me ? You must follow what you think is working for you. I didn't said that indicators are useless. Just said that I trade without them ...

If you feel that you need indicators to be confident in your entries, just keep them.
MT4/MT5 EAs/Indicators/Alerts coder
  • #16
  • Oct 8, 2013 12:08am Oct 8, 2013 12:08am
Quoting FerruFx
{quote} Why following me ? You must follow what you think is working for you. I didn't said that indicators are useless. Just said that I trade without them ... If you feel that you need indicators to be confident in your entries, just keep them.
Ok Most of the time i never look at indicators , Ok , Will do my own way with PASR , Thanks .
  • #17
  • Jan 17, 2014 3:18am Jan 17, 2014 3:18am
Quoting thesiusmaxim
Hello, There are so many Demo Account contests going on giving away hundreds of thousands of dollars, so I have a few questions: How do so many people accumulate thousands of pips in one month? Do they use an EA that somehow only work on demo accounts? Any input is appreciated, thanks.
They trade multiple large orders with no stop losses, yeah they can use an EA or any other means. However, when they trade real money its a very different story!
  • #18
  • Jan 22, 2014 7:25am Jan 22, 2014 7:25am
Quoting thesiusmaxim
Hello, There are so many Demo Account contests going on giving away hundreds of thousands of dollars, so I have a few questions: How do so many people accumulate thousands of pips in one month? Do they use an EA that somehow only work on demo accounts? Any input is appreciated, thanks.
LOL I guess that's one of the questions that is never going to get answered..and as for EAs, they rarely work beyond the two or three month cap..
  • #19
  • Jan 22, 2014 2:42pm Jan 22, 2014 2:42pm
Hi, i am a new trader and i have been try to add Ea to MT4 but i couldnt get it ,can you guys pls tell me how am going to add EA ,thanks .
  • #20
  • Last Post: Jan 23, 2014 2:31am Jan 23, 2014 2:31am
@rash10

Follow the next steps to install your EA:
Transferring the File(s)
Attached Image (click to enlarge)
Click to Enlarge Name: EA_Installation_Location.png Size: 40 KB

  1. Either create or download an Expert Advisor. Make sure you make note of where you saved the relevant files.
  2. Select and Copy the files you need for installing your Expert Advisor.
  3. Find out where your version of MetaTrader 4 is installed. The standard location where MT4 is installed is the C:\Program Files folder. Look for your installation of MetaTrader 4.
  4. Within the MetaTrader 4 folder, look for the Experts sub-folder. Open this up and paste your Expert Advisor into the folder. If an Expert Advisor uses .dll files these will likely need to be placed in the libraries folder.
  5. If the computer asks for permission just click: Continue.
  6. Installing onto MetaTrader 4
  7. Launch your version of the MetaTrader 4 platform.
  8. On the left hand side navigator, look for the Expert Advisors tab. Clicking on the plus sign will open up a menu of all the available Expert Advisors.
  9. Click on the EA you want to use and drag it onto the relevant tab.
  10. Attached Image (click to enlarge)
    Click to Enlarge Name: EA_on_chart.png Size: 56 KB
  11. Adjusting your EA’s settings

    1. Once you have dragged your Expert Advisor onto a chart, a pop-box will appear showing your settings.
    2. Make sure all your settings are how you want them before clicking Ok.
    3. Attached Image

Now you should be able to have your EA installed, enabled and ready to go.

Have a good one!

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