Is there such a thing as a "consistantly" profitable EA? I see lots of posts regarding backtesting, but does anyone know of a proven EA that really makes money?
Is there such a thing as a "consistantly" profitable EA? I see lots of posts regarding backtesting, but does anyone know of a proven EA that really makes money?
So I guess the answer to the question is yes. Of course this chnages the question to "How does one get ones hands on a profitable EA?".
Womble
Is there such a thing as a "consistantly" profitable EA? I see lots of posts regarding backtesting, but does anyone know of a proven EA that really makes money?
so the most profitable EAs are those, wich you will never see
I'm not insane; my mother had me tested.
- #4
- Aug 18, 2006 8:04am Aug 18, 2006 8:04am
- | Joined Apr 2005 | Status: Cruising The Outer Rim... | 2,175 Posts
If the reason we would never see a "profitablel" EA here in forexfactory.com is because the authors wouldn't want to share it, then what does that have to say about the strategies discussed herein?
Is this forum only for newbies and unproven systems?
or
Are EA's different, and their authors/creators more selfish? Greedy? Protective?
I don't buy it. I see many experienced (presumably profitable) traders helping, advising, shareing throughout this forum. Why should I believe that EA authors would be any different? or Is development of EAs purely an attempt to create something to sell?
So again, is there such a thing as a consistantly profitable EA?
Is this forum only for newbies and unproven systems?
or
Are EA's different, and their authors/creators more selfish? Greedy? Protective?
I don't buy it. I see many experienced (presumably profitable) traders helping, advising, shareing throughout this forum. Why should I believe that EA authors would be any different? or Is development of EAs purely an attempt to create something to sell?
So again, is there such a thing as a consistantly profitable EA?
the more an EA is profitable, the less likely is, that the author will show it to someone
so the most profitable EAs are those, wich you will never see
Im coding my own system into an EA since a month now, but everyday i realize how difficult is to pass all my feelings and observation to a program, and im keeping modifying it every day.
But on the other hand i must admit that on the parts which are already coded correctly , the EA is much better then me because has no emotions, and doesnt get tired
.So im still insisting.
- #8
- Aug 19, 2006 5:30am Aug 19, 2006 5:30am
- Joined Apr 2006 | Status: Metatrader Programmer | 1,422 Posts
Hi All,
take a look at Firebird EA it seems one of the best EA ever made,
http://www.forexfactory.com/forexfor...ead.php?t=7200 , it seems really profitable (and it's free!)
Actually an user (Mono) achieved 9000 pips starting from 27 Jul 2006 in forward test (we don't like backtest)
With different settings i reached 'only' 1096 pips starting on 1 Aug 2006 (36 wins , 0 loss), take a look at my statement
take a look at Firebird EA it seems one of the best EA ever made,
http://www.forexfactory.com/forexfor...ead.php?t=7200 , it seems really profitable (and it's free!)
Actually an user (Mono) achieved 9000 pips starting from 27 Jul 2006 in forward test (we don't like backtest)
With different settings i reached 'only' 1096 pips starting on 1 Aug 2006 (36 wins , 0 loss), take a look at my statement
I am new to Forex Factory, so I hope you don’t mind me jumping into your thread. I have been trading for about a year seriously. And am looking to go full time by Xmas. I have tried so many complicated methods involving up to 7 indicators to give me entry / exit point signals, almost lost my girlfriend though all the all night sessions trying to solve it. I have always come back to EMA's. I only trade on the Euro/USD, on a 1hr time frame using a 4 & 21 EMA. I wait for the EMA’s to post a cross on the hour and then enter. This alone will not make for a 100% profitable system, but its the rules that you apply to its and yourself that do. My basic rules are..<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o
></o>
<o></o>
1. Never trade on the morning of an announcement, especially the big ones like non-farms etc.<o></o>
2. I will not enter a buy trade even with the right EMA signal, if the market is at or approaching all time highs (It needs to be about 100 points of its recent highs for me to enter (the reverse for a short trade).<o></o>
3. Understanding support and resistance levels is crucial.<o></o>
4. But the key is sizing out. I always take 25pts for first third of the stake. Then take 50 pts with the second third and leave the last to run until the EMA has re-crossed, or it hits its stop 10 pts above entry point. If the trade does go wrong, and the EMA re-crosses the nest hour though some freak world event then get out. Never be afraid to cut your losses.<o></o>
<o></o>
My weekly pip count varies but it’s always positive. I am into safe trading and minimal risk. I don’t get as many points as many but I can go in heavier as I know it’s reliable. I get on average about 500+ points a month.<o></o>
<o></o>
I don’t straddle trade, but I do use a 5minute chart with same EMA's to pick up retracements sometimes (mainly the GBP/USD the only time I trade it).<o></o>
<o></o>
I often liken trading like Chess. If the individual pieces have no rules the game would be useless. But it’s the constraints you add to the pieces that make it work. A good trading system I think is the same. <o></o>
<o></o>
Anyway that’s enough from me, I hope I have not stated the obvious too much but its just what works for me.
></o><o
></o>1. Never trade on the morning of an announcement, especially the big ones like non-farms etc.<o
></o>2. I will not enter a buy trade even with the right EMA signal, if the market is at or approaching all time highs (It needs to be about 100 points of its recent highs for me to enter (the reverse for a short trade).<o
></o>3. Understanding support and resistance levels is crucial.<o
></o>4. But the key is sizing out. I always take 25pts for first third of the stake. Then take 50 pts with the second third and leave the last to run until the EMA has re-crossed, or it hits its stop 10 pts above entry point. If the trade does go wrong, and the EMA re-crosses the nest hour though some freak world event then get out. Never be afraid to cut your losses.<o
></o><o
></o>My weekly pip count varies but it’s always positive. I am into safe trading and minimal risk. I don’t get as many points as many but I can go in heavier as I know it’s reliable. I get on average about 500+ points a month.<o
></o><o
></o>I don’t straddle trade, but I do use a 5minute chart with same EMA's to pick up retracements sometimes (mainly the GBP/USD the only time I trade it).<o
></o><o
></o>I often liken trading like Chess. If the individual pieces have no rules the game would be useless. But it’s the constraints you add to the pieces that make it work. A good trading system I think is the same. <o
></o><o
></o>Anyway that’s enough from me, I hope I have not stated the obvious too much but its just what works for me.
I am new to Forex Factory, so I hope you don’t mind me jumping into your thread. I have been trading for about a year seriously. And am looking to go full time by Xmas. I have tried so many complicated methods involving up to 7 indicators to give me entry / exit point signals, almost lost my girlfriend though all the all night sessions trying to solve it. I have always come back to EMA's. I only trade on the Euro/USD, on a 1hr time frame using a 4 & 21 EMA. I wait for the EMA’s to post a cross on the hour and then enter. This alone will not make for a 100% profitable system, but its the rules that you apply to its and yourself that do. My basic rules are..<o
<o
1. Never trade on the morning of an announcement, especially the big ones like non-farms etc.<o
2. I will not enter a buy trade even with the right EMA signal, if the market is at or approaching all time highs (It needs to be about 100 points of its recent highs for me to enter (the reverse for a short trade).<o
3. Understanding support and resistance levels is crucial.<o
4. But the key is sizing out. I always take 25pts for first third of the stake. Then take 50 pts with the second third and leave the last to run until the EMA has re-crossed, or it hits its stop 10 pts above entry point. If the trade does go wrong, and the EMA re-crosses the nest hour though some freak world event then get out. Never be afraid to cut your losses.<o
<o
My weekly pip count varies but it’s always positive. I am into safe trading and minimal risk. I don’t get as many points as many but I can go in heavier as I know it’s reliable. I get on average about 500+ points a month.<o
<o
I don’t straddle trade, but I do use a 5minute chart with same EMA's to pick up retracements sometimes (mainly the GBP/USD the only time I trade it).<o
<o
I often liken trading like Chess. If the individual pieces have no rules the game would be useless. But it’s the constraints you add to the pieces that make it work. A good trading system I think is the same. <o
<o
Anyway that’s enough from me, I hope I have not stated the obvious too much but its just what works for me.
Trading is a bit adictive...and especially at the beginning emotions go over all..which is very bad if I think how I was the first 2 months..
The problem about girlfriend I think is quite common
Trading is a bit adictive...and especially at the beginning emotions go over all..which is very bad if I think how I was the first 2 months..
Jason
Try problems with a WIFE. :-) Getting up at 2:00am to check the London market she was about to start asking for my car keys! lol
Jason
I know what you mean Jason.I understad you. Personaly I feel lucky to live in europe and so be able to trade London session, because except news, I find US session very very nervous...US open session looks to me more like the BIG GUY showing the flag to follow and run away, and everybody back to him..
then the BIG GUY suddenly changes direction with his big flag... and all poor little guys trying to change also direction in time to dont follow down in the ravine..
- #18
- Aug 19, 2006 12:35pm Aug 19, 2006 12:35pm
- | Joined Aug 2006 | Status: Aspiring Market Sniper | 133 Posts
The problem about girlfriend I think is quite common
Trading is a bit adictive...and especially at the beginning emotions go over all..which is very bad if I think how I was the first 2 months..
She says she's getting tired of me being on the computer all the time. That I care more about trading than I do about her and need to balance my passion for Forex with my passion for her.
You know, she's right. I think I'm going to go cuddle up to her and watch a movie.
As soon as I'm finished reading the james16 chart thread. Oh, and the Vegas files. I really should go and test my system on at least one pair on the H1 time frame for the past 2 years data to before the market opens tommorow too.
Most movies nowadays suck anyway.
Glad I'm not the only one with this problem.
She says she's getting tired of me being on the computer all the time. That I care more about trading than I do about her and need to balance my passion for Forex with my passion for her.
You know, she's right. I think I'm going to go cuddle up to her and watch a movie.
As soon as I'm finished reading the james16 chart thread. Oh, and the Vegas files. I really should go and test my system on at least one pair on the H1 time frame for the past 2 years data to before the market opens tommorow too.
Most movies nowadays suck anyway.
Same story for me!