I am completely new to the world of EAs, so I'd like to try out a free one on demo before I even think about spending money on one. So what is your favorite free EA?
I am completely new to the world of EAs, so I'd like to try out a free one on demo before I even think about spending money on one. So what is your favorite free EA?
Ignored
I wasted a lot of money buying vended EAs when I was a newbie, back in 2006/7. In each case, the only person who profited was the vendor, in the sense that he got my payment.
A genuinely profitable EA is pure gold. Any EA that offers some promise of profit, across all possible future market conditions, likely has several years of research, sweat and blood poured into it. It's very unlikely that anybody is going to share his golden goose, for free, on a forum like this one.
Here are some EAs that my programmer/trader buddy wrote last year, and backtested them over 6 years worth of high quality data. If you read through the thread, you'll see that the amount of research he put into them was colossal. And these are mere backtests, there is no absolute guarantee of profit going forward.
Here is a blog that's worth reading IMHO — an EA developed by some expert traders that made 1,000% in its first year of live trading, and then imploded.
An experienced human trader will always make more intelligent trading decisions than even the most sophisticated EA. That's obvious, because to build the logic that goes into the EA, the trader must be profitable first.
There are some good semi-automated systems, e.g. where the trader switches the EA off whenever market conditions are unfavorable; or runs the EA only on pairs that are currently most volatile, or strongest trending; or the EA alerts the trader to possible setups, after which some manual intervention is required; or where the EA simply manages open trades.
So, for whatever my opinion is worth, you'll save yourself time, money and probably some heartache, by avoiding EAs, at least in the first instance.
