What is your expectation from an EA? | Forex Factory

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What is your expectation from an EA?

  • #1
  • First Post: Oct 20, 2014 11:47am Oct 20, 2014 11:47am
Hey Folks,
All of us was agree , if there isn't "Holy Grill " in this Forex Jungle.
Most of the EA maker or EA creator, said if their system is complete and can collect Green with just only one blink eye.
Most of the EA maker try to give us with such complicated indicator or even the complicated strategy too.
But , Can you give your small idea to them, actually what kind of the EA that you want and what is your expectation from the EA ?
Please folks help them and share it your idea in this forum, so at least we can know what is the best ingredients for the EA ?

Nice Trading
  • #2
  • Oct 20, 2014 10:42pm Oct 20, 2014 10:42pm
Ideally, which may or may not be realistic, I'd like an ea which would limit draw downs to 10% at any time (stops trading until profits/losses are realized).
Has a 65% or greater win rate and profitable trades are generally ~25% greater than losing trades.

Is that too much to ask?
  • #3
  • Oct 20, 2014 10:48pm Oct 20, 2014 10:48pm
I have one particular EA that I use mostly on news events that gets around 60% hit rate with average RR @ 1:2 Risk: Reward. This is one of the better EAs you wont find.
All posts are my personal opinion
  • #4
  • Oct 20, 2014 11:50pm Oct 20, 2014 11:50pm
Quoting BubaYaga
Ideally, which may or may not be realistic, I'd like an ea which would limit draw downs to 10% at any time (stops trading until profits/losses are realized). Has a 65% or greater win rate and profitable trades are generally ~25% greater than losing trades. Is that too much to ask?
I think is not too much. It'[s common goal. Low risk High return. But which Indicator you to use for that EA ?
  • #5
  • Oct 21, 2014 12:43am Oct 21, 2014 12:43am
For me ideal EA is that one which has easy setup and abundance of adjustable features. It'd allow traders to adapt to rapidly changing market conditions, use different market tricks as the ground concept for EA, provide max partaking of user in trading setups..
  • #6
  • Oct 21, 2014 4:01am Oct 21, 2014 4:01am
Quoting leebsurag
For me ideal EA is that one which has easy setup and abundance of adjustable features. It'd allow traders to adapt to rapidly changing market conditions, use different market tricks as the ground concept for EA, provide max partaking of user in trading setups..
Nice Sharing. But is it good to make the parameter setup is adjustable ? Some of the programmer make it fix , to make the EA work precisely with their strategy.
Also for the Time frame base , most of them using M5 or M15 but also most using D1 even M1.
Which one is suit for you and what is the reason behind of your opinion ?
  • #7
  • Edited 10:29am Oct 21, 2014 9:38am | Edited 10:29am
Quoting StingrayEA
Can you give your small idea to them, actually what kind of the EA that you want and what is your expectation from the EA ?
//----

selling in over-bought conditions in an downtrend and buying in over-sold conditions in an uptrend...... expectations are 1 daily atr per week.....

but will except less......h
to trade and code, keep both simple... no call to impress....h
  • #8
  • Oct 21, 2014 9:50am Oct 21, 2014 9:50am
My expectation is to find one on ebay for no more than $29.95. Guaranteed profits.
  • #9
  • Oct 21, 2014 9:56am Oct 21, 2014 9:56am
Mi expectation from an EA is, at least, a 90% of accuracy predicting Market movements.

That's the reason why I don't use any.
Trade, don't bet.
  • #10
  • Oct 21, 2014 12:33pm Oct 21, 2014 12:33pm
Quoting Mingary
My expectation is to find one on ebay for no more than $29.95. Guaranteed profits.
No Holy profit in the forex business. because you talk about prediction or forecast. So You use the knowledge and old data to forecast for the future price movement.
But if I found the EA maker that can give us guaranteed profits , I Don't WANT to buy it !!.
Most of the EA maker always put some warning " This system is under your own risk !! , Forex is high risk and high return business."
  • #11
  • Oct 21, 2014 12:34pm Oct 21, 2014 12:34pm
Quoting MarketFox
Mi expectation from an EA is, at least, a 90% of accuracy predicting Market movements. That's the reason why I don't use any.
So what kind of indicators that you want to use or often to give more accuracy for predict the market ?
  • #12
  • Oct 21, 2014 12:35pm Oct 21, 2014 12:35pm
Quoting hayseed
{quote} //---- selling in over-bought conditions in an downtrend and buying in over-sold conditions in an uptrend...... expectations are 1 daily atr per week..... but will except less......h
Nice and simple strategy.
  • #13
  • Oct 21, 2014 3:05pm Oct 21, 2014 3:05pm
Quoting StingrayEA
{quote} So what kind of indicators that you want to use or often to give more accuracy for predict the market ?
Actually none. I spent so many hours in front of the screen that I can see where the price will go just looking at the candles, volumes and news (not macroeconomic news, but fundamentals... I used that kind of information for Futures and CFD's).
Trade, don't bet.
  • #14
  • Oct 21, 2014 8:01pm Oct 21, 2014 8:01pm
Quoting MarketFox
{quote} Actually none. I spent so many hours in front of the screen that I can see where the price will go just looking at the candles, volumes and news (not macroeconomic news, but fundamentals... I used that kind of information for Futures and CFD's).
how you use volume for your trading ? how is your entry ?
  • #15
  • Oct 21, 2014 8:29pm Oct 21, 2014 8:29pm
Quoting StingrayEA
{quote} how you use volume for your trading ? how is your entry ?
There's several ways to use Volumes.

The most important way to use it, is for trend confirmation.
As long as the trend is going on, an INCREASE of volume average confirms that the Trend will continue that way.
If the Trend keeps running and the Volume average DECREASE, it's a sign that the trend is running out of participants, and it's likely that a reversal will take place.

When Triangle patterns are performing, It's likely that Volume average decrease until 2/3 of the Triangle formation, when a Breakout should take place. If that Breakout has a Rush-increasing Volume, the Breakout is confirmed.
Now, if it's a Simetrical Triangle, it's a Continuation form; the trend will continue.
If It's an Ascendent Triangle, the Trend is going up (breaking the Ressitance Line).
If It's a Descendent Triangle, the Trend is going down (breaking the Support Line).

When Shoulder-Head-Shoulder (either in a Top or a Bottom) is performed, the first Shoulder has a lot more Volume than the Head (the second Shoulder must have less or, at least, the same Volume as the Head).

As the market isn't perfect, a Pullback is expected just before prices go to the place it should.

Kind regards,
MarketFox.-
Trade, don't bet.
  • #16
  • Oct 21, 2014 9:29pm Oct 21, 2014 9:29pm
I forgot to mention that the most accurate TF for using volumes are Daily, Weekly and Monthly.

You could also use it in smaller TF, but you have to be carefull.
For example, in a 1M chart the volumes tend to be random so... not good for Scalping.
In 1H and H4 TF, the Volumes only represents the most active periods of a given pair.

If you're more intereseted in Scalping, focus in Candle patterns (Dojis, Hammers, etc.), and Support/Ressitance levels.


MarketFox.-
Trade, don't bet.
  • #17
  • Oct 21, 2014 11:16pm Oct 21, 2014 11:16pm
Quoting MarketFox
I forgot to mention that the most accurate TF for using volumes are Daily, Weekly and Monthly. You could also use it in smaller TF, but you have to be carefull. For example, in a 1M chart the volumes tend to be random so... not good for Scalping. In 1H and H4 TF, the Volumes only represents the most active periods of a given pair. If you're more intereseted in Scalping, focus in Candle patterns (Dojis, Hammers, etc.), and Support/Ressitance levels. MarketFox.-
Hey Friend,
Is it possible you post the example of your chart that you often use in this forum, so the others can have another knowledge and have another way how to trade too.
Happy Trading.
  • #18
  • Oct 21, 2014 11:19pm Oct 21, 2014 11:19pm
Quoting MarketFox
{quote} There's several ways to use Volumes. The most important way to use it, is for trend confirmation. As long as the trend is going on, an INCREASE of volume average confirms that the Trend will continue that way. If the Trend keeps running and the Volume average DECREASE, it's a sign that the trend is running out of participants, and it's likely that a reversal will take place. When Triangle patterns are performing, It's likely that Volume average decrease until 2/3 of the Triangle formation, when a Breakout should take place. If that Breakout...
Nice and simple explanation. It's good to have you in this forum, hope another newbie can learn from you too..
  • #19
  • Oct 22, 2014 12:21am Oct 22, 2014 12:21am
Hi from rookie...
For more than 3 years I've trade manually as I always get drowned by some EAs....all give noting but "red" result..

However, I still hope if I can find an EA which :

1. Not required to turn on 24/7
2. Expected profit : 5% per month
"juz tryin' to beat my yesterday..."
  • #20
  • Oct 22, 2014 5:31am Oct 22, 2014 5:31am
Quoting Rey12
Hi from rookie... For more than 3 years I've trade manually as I always get drowned by some EAs....all give noting but "red" result.. However, I still hope if I can find an EA which : 1. Not required to turn on 24/7 2. Expected profit : 5% per month
many EA can produce 3-5 % per month. but manually is more accurate.
The key is on you when you want to turn on or off. most of the EA make is base on moving average and of course with additional to make it more colourfull and spicy.
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