Which EAs will work on a live account?

Hi friend
I am new in forex. Please can you tell me which EA will run on live account and which one will not work? How to know that?

Thanks...

OMG you will make an acident for sure go here first make your driving schooll:
http://www.babypips.com/

Just like that? Well, then you need to go here: http://www.forexfactory.com/showthread.php?t=405

**graps beer + popcorn & subscribes**

Seriously, as mizi123 advised, go to babypips.com to do some homework first. Then come back, try a few ea's, or better, create a system yourself, learn by trading a demo account, burn up some bankaccounts. Use only money you can afford to lose. Rinse and repeat. Only the strong survive. I wish you good luck.

btw, I am still demoing since 10 years and still havent got a clue (maybe also because I am a slow learner). Hope this helps.

I can tell you, forget the commercial EAs!!

You will find a lot on the web, also on ranking sites. They are all more or less crap.
I purchased a lot of commercial EAs in the last years, thinking the more expensive, the better they are.
And because they had a great track record on myfxbook.
I payed them between $250 and $700

I turned them all off, because they burned my account (martingale) or because they were not profitable in long term.

Its easy: If you had a very good EA, making good profits and not beeing too risky, would you sell it for a couple of $, make big, professional advertising websites, do the online support for many unexperienced and unhappy people??
I wouldnt.

Learn to trade and if you want, code your own EAs, this is the only way.
Nobody and no EA will help you to make money.

Hello, the most important that you must know is that trading all trading strategys can work, but the most difficult is the emotional side 70-80% belong to your emotions.

Because people hoe get a loose trade try to find somethink new, somethink better which they dont find and they often try to win back with more risk the loose from before and then you loose more and you risk again more, this is the most difficult part.

If you only use 1% risk for your trades and you let sometimes run a trade, you make sometimes 100 or more pips with a trade and when you loose you only loose 50-100 pips then you have a good risk reward ratio and you are able to make profits in long termn.

But the new people in forex always try to find a strategy which always works but which does not exist.

If you want make a test take a coin in your hand and flip it and and go long or short depends on what the coin say, if he show you head or number, and use 50 pips stoploss and 100 - 200 Pips takeprofit and only 1% risk for this trade, it will be difficult to loose your account when you trade like that and you maybe also make more profits then you loose.

So the best tipp for you is to learn why people loose, why the emotions and discipline is the problem and then try to dont make that mistakes.

EAs are hard to trust if you aren't any developer and moreover these EAs are designed to follow technical analysis so they might required to be monitored during news release. However, you better google the right EA that suits you the best..!

Totally agree with the first sentence. Moreover, I would not recommend to a beginner to start directly with using automated systems. First start with some manual trading, gain experience for how the FX market works, develop your own trading style and risk parameters, and only then search the web for an EA that is suiting your investment strategy the most. However, I would not rely fully on an EA.

There is no Ea that you just set up and forget. It all depends on the market situation and what the Ea is good at trading. Even if you find it works sometimes it needs to be constantly edited to the current situation, so basically if you don’t know what you are doing and the EA wouldn’t know either and get you into even more trouble. There are thousands of Eas here on the forum try them out on a demo play with the setting and see if you find something that might fit your trading style.

Exactly, we need to monitor those EA if we wish to go fully automated as EAs are not a magic wand either that will help you grow your money. Sometimes, we have to shut them down too during high volatile market conditions or otherwise they can blow our accounts within no time.

EA's are actually more work than manual trading, imo. It's better to get a good grasp of the mechanics behind trading first before you even consider EA's, as the previous poster said. When you understand how strategies work and are put together you are in a much better position to be researching what will work for you and what won't.

Since you are a new Forex trader, that means you don’t have any profitable trading EA. So, now you are interested to use others trading EA, isn’t ? Listen; depending on others strategy or EA is not a good choice! EA trading is most complicated not! So, be expert on EA trading, study more and more on EA trading.