The Doubleplay Forex Expert Advisor

When I began my quest to find an expert advisor that did well in a broad variety of market conditions I was very confused by the overwhelming amount of expert advisors available. After reading and searching for reviews all across the world wide web I found what appeared to be a good and well recommended expert advisor. Hence, I bought the Doubleplay expert advisor.

The Doubleplay expert advisor is what appears to be a very solid and conservative expert advisor. It fits my trading style, having a 50 pip adjustable stop loss and also a risk management module which makes sure that I never risk more than 5% of my account on each trade.

I have been very satisfied with this ea. It has traded as promised and has delivered some profit throughout the three months I have been using it for. I have obtained about 40% profit, which hits a quiet high profit/loss ratio. Support has also been absolutely wonderful, every doubt or support question I have had has been answered promptly by Hal, who is the eas creator.

As much as I like this expert advisor, bear in mind it is NOT a way to get rich quickly. If you ask me I would say that this expert advisor is a PROFITABLE expert advisor, but I would never expect more than 10% a month in ANY case. This was proved by this ea having almost doubled my account along the beginning of October and giving more than half back just a few weeks later.

I have complete faith in Hals commitment to the Doubleplay project, with no doubts in my mind that his main goal is to be successful as we are, not to deceive his customers in anyway. Doubleplay also has a money back guarantee if you have two consecutive months of losses using the ea.

This ea is one of the few I do personally RECOMMEND with no ties whatsoever, neither as an affiliate or as a personal friend of the eas creator. This ea would fit great as a conservative addition to our ea trading package.

This expert advisor can be found here.

Diposting oleh Unknown 09.46 0 komentar

A Proven Profitable Forex Expert Advisor

Ok, this is what all of you have always been looking for and probably the reason why you entered my website. You are looking for a proven, profitable expert advisor that you can trust and trade in your live account with the most minimal risk of large equity draw downs.

With all due respect : You are delusional.

Lets start with the facts. What do you mean by proven ? Someone has made money with it ? Someone has been making money with it for an x amount of time ? Many have made money ? It has made money on different brokers ? As you can see, the answer to this question is very difficult by itself. I will now make something clear to you which you may have already suspected and which may seem a little bit hard to read : There is no such thing as a proven system in the forex market and there is no such thing as a low risk expert advisor.

Yes, thats right. There is no such thing. This happens by definition, because the forex market is dynamic, ever changing and unpredictable in nature. Hence, it is what you would call a high risk market. It is high risk because (you guessed right) the risk of losing capital is very high ! And this cannot be avoided by using an automated trading system. There is no such thing as a low risk opportunity in a high risk market. If you expect to make money consistently, for years, in the forex market, using automated systems, without high risk, please choose another investment vehicle. Perhaps something less risky, like T bonds, would better fit your risk profile.

Does this mean that evaluating expert advisors is meaningless ? No. By testing expert advisors in live and demo accounts we can get an idea of how they work, under what circumstances they work, what consistent profit and expected draw downs we might get. This is because even though the forex market is unpredictable, it can be statistically studied. We cannot tell what will exactly happen, but we can estimate the probabilities and this is one of the things that tells a profitable trader apart from a failing one.

Lets say for example that certain automated trading system gets a 4% profit from 2005 to 2008 in live testing. We can look at overall market conditions and the past 60 years of market history and tell if they are likely to change, to what and what the probability of working would be if said conditions would change. Was the market in an uptrend ? Downtrend ? going sideways ? What was the volatility ? In essence, the longer an ea works, the more robust it it, that is, the more change in market conditions it can withstand. However, if market conditions were to change to something that did not happen for the last x years the ea was tested on, then it can fail.

This is were that disclaimer we have all read comes into play "past perfomance does NOT guarantee future results". Read it about a hundred times.

What is our defense against this ? Have more than one expert advisor, have a portfolio and have them on separate accounts, if all of them have been tested and are robust, when one fails, the most probable thing is that the other will not and vice versa. You need to diversify in automated trading because the systems have limited visibility, they cannot overcome big changes in market conditions due to their rather inflexible nature. Will every tested ea ever programmed have a period in which it will wipe an account ? The answer is, probably yes.

If you would be interested in learning a little bit more about my opinions, criteria and what expert advisors I have tested and consider worth trading please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !

Diposting oleh Unknown 15.45 0 komentar

How to setup install an expert advisor in MT4

Many people who are new to automated forex trading are puzzled by installation issues regarding the expert advisors for the metatrader platform. This easy to follow graphical guide will show you the simple steps necessary to setup an expert advisor for the metatrader 4 platform.

-
1. Download your expert advisor file and indicators (if the ea needs any custom ones). These are either ex4 or mq4 format files, depending on if they are a source or a binary (precompiled file). There is no difference between these two classes as far as installation and usage goes.
-
2. Copy your expert advisor files and indicator files to the corresponding directories. As it is shown in the following picture. Keep in mind that this directories are located under your metatrader installation path and that metatrader should not be running at this point.
-
-
3. You should now open up metatrader. Open up a chart with the timefrime and currency pair in which you want to run the advisor. Now simply drag and drop the expert advisor from the navigator window as shown in the next picture.
-
4. Now you need to check the live trading dialogue and change any settings you would like to modify on the expert advisor, as it shown. Also remember to click on the expert advisor button on the upper section of the program to allow trading.
-

-
5. Now you should check that the expert is running. A happy face should show up in the top right corner of the chart you chose. If you see an x or a happy face it means you neglected to perform the last step (or didnt perform it correctly).
-
-
Happy trading !

Diposting oleh Unknown 01.33 0 komentar

New Expert Advisor Portfolio

Today I realized that maybe it is not absolutely necessary to spend a lot of money to get some decent expert advisors. Based on my experience with myfxovereasy (which I reviewed earlier last week) I can say that there must be some promising free expert advisors out there.

I have always been aware of the free ea collection available at earnforex.com but I just saw the recently updated tests on the eas earlier this week. With these expert advisors optimized and the "perfect" conditions for their operation given I found no reason not to test them myself in a demo account and see what happens.

So I started a test of a complete free expert advisor portfolio. This portfolio has the following experts :

Framework : Which uses commodity channel indexes and strikes me as a medium term expert advisor.

Artificial Intelligence : Which is a neural networkish expert advisor.

Phoenix : Which is a short term sort of scalping expert advisor.

Binario : Wich is a long term expert advisor.

Myfxovereasy : Which is a trend following medium term expert advisor.

With all this expert advisors covering almost all types of market conditions (hopefully!) and reporting more than 10% yearly profit each (some reporting even a 15% monthly profit) I hope to have convincing results that suggest that this is the perfect expert advisor portfolio. Profitable and free !

Diposting oleh Unknown 08.16 0 komentar

Why There is An Expert Advisor That Works

For the past six months I have been very intrigued by who and what drives the prices up and down in the forex market. It is quiet obvious that retail traders hold just a small portion of the cake while funds, banks, exporters, importers and the like hold a much bigger chunk.

I have also asked myself if this people drive prices in a mechanical way. Is it predictable ? One of the most important questions for retail traders. Can we predict the direction of the market ? Or more specifically, can we consistently predict the direction of the market ? The answer - I think - is a shade of yes.

Even though we all have different opinions on the technicals and fundamentals of currency pairs, we all know what we all expect. I mean, for example in the case of a non farm payrolls release, we all think it will be say 100k, then it is 70k, there will unmistakably be a hike in the EUR/USD pair. It is all not because 70k is "good" or "bad" for the economy - although this may be aligned in some cases - it is because the market goes either with or against main trader expectations. This drives the market and people react predictably to this news events.

In the case of more technical situations I think the same may apply. People are psychologically predisposed to certain patterns on charts. This makes their appearance constant. People are used to feeling certain emotions once they see certain changes in price on a currency, then they react the same way they have always done. They will always see trends, retracements, breakout patterns and similar graphical figures.

Although I may not demonstrate conclusively that prices are predictable by means of repeating market behavior I may speculate that the fact that the same people are trading the same currencies on the same charts creates some sort of very complex pattern inside their conduct. People who grasp this pattern are successful retail traders. People who dont, well, they are the other 90% if you know what I mean.

My analysis so far, predicts that there may be an expert advisor that works on all market conditions. This is because an expert may - unless psychological factors in trading change substantially because of an event - trade based on the "pattern" given by currencies through human behavior.

And even though I have no way to know the nature of this pattern or implement it mechanically I know it is there, hidden amongst the price. Waiting to be discovered. Not all experts are doomed to failure, some may get the key to our psychology .

Diposting oleh Unknown 20.00 0 komentar

Bogie NN v8 Expert Advisor by William Boatright a Review

Today I decided to write a review about an ea that has been around for a while and has attracted the attention of many forex traders. The expert advisor I am talking about is the Bogie-NN-8v advisor developed by William Boatright. This ea is said to be neural network based and has managed to get profits in excess of 50% on some months.

Well, first of all, let me tell you, in my opinion, what Bogie is and what Bogie is not. Bogie is an automated trading system based on an indicator developed using a neural network approach, Bogie is not a neural network. What does this mean ? A neural network is supposed to optimize itself continously, that means, with each new tick, the expert should reevaluate and reoptimize itself to better adapt to current market conditions. A neural network, in analogy to your brain, should be able to "learn" from past experiences and therefore increase its possibilities of trading the market profitably.

Bogie does not do this, the expert advisor does not continuously optimize itself but is based on an indicator developed months ago which is now, most probably, obsolete due to changes in the way market conditions have changed. To compensate for this, Bogie has to be optimized, that is, some parameters have to be changed in order to adapt the ea to current market conditions. The problem, as you may infer, is that the ea is always being adapted to some period of time before the present which may or may not represent current market conditions.

In essence, trading Bogie is like flipping a coin, if your parameters are aligned with current market conditions you will make money, if you dont you will lose (very volatile, you can expect +/-50%). This type of approach for an expert advisor is unreliable as it is true that expert advisors can remain profitable without constant optimization, which is, anyway, like guessing current market conditions. When do you reoptimize ? How do you know it works ? You cant know.

Furthermore, the use of the NN indicator is completely pointless since it can be replaced by any other market indicator. You can always optimize a variation in any indicator and correlate it with price as you would with the Bogie indicator.

In my opinion, although Williams intentions with this ea are good and I believe him to be an honest person with the retail trader in mind, the expert advisor simply does not work, its approach is flawed by design since the ea is not really a neural network and the optimizations needed are not guaranteed to improve the experts performance. If you want to see how Bogie has performed on forward testing and learn more about reliable and profitable commercial and free expert advisors please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !

Diposting oleh Unknown 06.01 0 komentar

Free Profitable Expert Advisor Gods Gift 7c

For those of you who have not read previous posts about Gods Gift, it is a free expert advisor coded by Matt Edmonds which I have been testing from January 2008. I stopped publishing results on this website since the ea is a very infrequent trader and it took it several months to accumulate a good amount of trades. Now I will show you my results for this free, profitable, expert advisor.

-
-
As you can see on the graph, the ea has performed very well for the past 9 months as it has been predicted by its backtesting. The expert has very good market entries. With about only one entry per week, this ea enters the market only on high probability trades. I have to say, I thought this ea would blow up the account by June but it has indeed surprised me by banking profits as expected. Up until now, the ea has a profit of about 50% with a maximum draw down not exceeding 10%. The ea uses a fixed stop loss and it seems to have a low risk trading style. This is the type of ea you would like to use for consistent, long term profits.

Even though the amount of time is significant (9 months) and enough to say this ea is extremely likely profitable (has survived drastic changes in market conditions), I have to tell you that, as with any automated trading system, you should trade it with care and at your own risk. If you wish to get the settings and the expert advisor from me you can either buy my automated trading ebook (which contains information about many commercial experts) , subscribe to my weekly newsletter (which comes with investor passwords for live and demo accounts) or simply buy me a cup of coffee using the link on left bottom side of my webpage and Ill be glad to send you this information to your email ! (this is to support the vps in which the ea is run and keep me awake :) ) Thanks in advance for your purchases and donations !

Diposting oleh Unknown 22.45 0 komentar

Forex Expert Advisor Forex Insider Pro an Unbiased Review

Today I am gonna focus this post on the review of the forex insider pro expert advisor. As you know, all my reviews are as unbiased as they can be since I dont receive anything for giving good or bad reviews for any expert advisors. I have absolutely no affiliate links or any other ties with commercial expert advisor sellers. I just call them like I see them. The forex insider pro expert advisor is given a great projection by its creator with the following bold remark :

" Let My Robot Be Your Slave To Make Money For You NON-STOP Even While Youre Fast Asleep!"

Well my friends, I never judge expert advisors just by the claims they make, I always judge them by the way in which they backup their claims and the evidence they show us to do so. Looking at the forex insider pro expert advisor, you will see that this expert has absolutely no evidence for any of its claims. he says that the expert is able to trade with a low balance and a low risk and make huge gains. Where in the world is the evidence for this ? I dont see a live testing statement that can even show us how this expert trades on the market.

I mean, I would hire a money manager without looking at at least several years of his track record. Why would you demand any less from an expert advisor if it is actually going to manage your real money ? Well, this guy doesnt show us anything. All we are looking at are some very simple backtesting screenshots that dont even have adequate modelling quality. Needless to say, we dont know even if the expert has a high likehood of having important one minute interpolation errors because we cannot see any statements that point to how this expert trades.

Are we supposed to buy something that does not even prove its claims ? Absolutely not ! As I always say, the burden of proof is with the creators of the systems. This system of course, as you see, is absolutely NOT worth buying and it would take at least a 6 month live account with backtesting to match consistency to make me change one letter on this review. However, I am always opened to changes in my opinions if expert advisor creators support their claims adequately.

If you would like to learn more about forex automated trading systems, how to evalute them, what their characteristics are and how to really trade profitably with realistic profit and draw down targets using expert advisors please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed this article !

Diposting oleh Unknown 08.46 0 komentar

Free Expert Advisor Portoflio Week 10 Final Words

As I had feared, the expert advisor portfolio we had been testing for the past two months didnt leave up to our expectations. The experts accumulated an abnormally high 42% draw down this week.

The main reason why this happened was an incredibly horrible losing rally shown by the Ichimoku5 expert. Against all the things I would consider logical, this expert advisor sold the usd/jpy all the way up on an uptrend. It got several, almost 10, consecutive stop loss hits.

My final words about this expert advisor portfolio is that it did just about as how 99% of us would have expected. Even though we may have had our hopes up sometime in the past, the expert revealed one of the many absolute truths in the forex market. Past records are no indicative of future results. But I bet that any person with an ea who has, sometime in the past, forward tested profitably for 2, 4 or more months will have no problem in selling it to the willingly believing.

So beware !

If you want to look at the final picture, you can see the final trading statement here.

Diposting oleh Unknown 21.30 0 komentar

Gods Gift v 7c A Free Likely Profitable Expert Advisor

For the past two weeks I have searched relentlessly for a profitable free expert advisor to fill the void left by the free expert advisor portfolio I stopped trading.

As you may know, finding free profitable expert advisors is very difficult given the fact that they are many of them, with limited information on their workings and objective. At the end, I think I found a light at the end of the tunnel.

This expert advisor I found named Gods Gift v7c coded by Matt Edmonds seems to be the answer to my prayers. The way I discriminated this expert from the rest was by back testing. And yes, we all feel the same way about it (does not work very good, I know it) but it is nevertheless a tool to separate possibly profitable experts from unprofitable ones, not to say that every expert resulting profitable in back testing would be in forward testing.

The back testing results are very good. After optimizing some of the parameters associated with this expert, I managed to get, using Alpari data and 90% modelling quality, a maximum draw down below 10% with a relative draw down below 15%. All of this with a 50% yearly profit, back tested from December 2004 to January 2008. This I have to say, is exactly what I am looking for. The strategy tester report can be seen here.

The expert advisor finds its entries with the help of the Waddah Attar Explosion indicator coupled with Keltner Channels. You can see this in the image at the end of this post. The expert advisor seems to perform very well on the GBP/USD pair with the time frame making apparently no difference although the back testing report was done using the one hour time frame.

I like everything about this expert advisor. Fixed stop loss, trailing stop and apparently a low draw down with a modest profit on average each month. I have started to forward test it today and see how it does in the real market. Everything points out to this expert being profitable, let us hope it lives up to its back testing results ! Wish me luck !

Diposting oleh Unknown 03.30 0 komentar

New Forex Expert Advisor for Review PointBreak5

Last week I was very kindly approached by the PointBreak expert advisor creator who asked me if I could forward test his product on my virtual private server and write a review about it.

As I am always looking for a new profitable expert advisor I gladly agreed to test his PointBreak5 expert advisor. I am doing this with no monetary compensation at all, neither directly or from affiliate sales. This assures that my results will be totally unbiased.

At first glance, PointBreak seems to fulfill the requirements I would assign to a profitable expert advisor. Its goals also seem to be pretty doable with a long term profit target in sight. I have started to forward test this ea as of today, using the most conservative setting as outlined in the expert advisors demo documentation. I am using an Alpari 25,000 demo account with 1:100 leverage.

This expert advisor will be commented based on its weekly results, as my free expert advisor portfolios. Let us wait then, the surprises this ea may have for us.

Diposting oleh Unknown 22.15 0 komentar

The PID SP4 SP5 expert advisor a review Why I never bought this ea

A small while ago there was a lot of hype about this new expert advisor called P.I.D SP4. People were getting mass returns on this expert advisor and so many more people began to converge on this ea and start to trade their capital using the expert.

I have to say, I warned them ! Expert advisors that offer mass returns on some months are very or more exactly extremely prone to lose all their money and even more. As I have said on an earlier post, in my experience, profitable consistent expert advisors seem to have at least a 30-40% draw down of every 10% consistent profit they get on the account. This is simply the balance demanded by the market and the reason why top fund managers almost never get more than 20% profits a year, they are extremely conservative because they know the inherent risk that comes with high profitability.

I never traded P.I.D myself but saw it trading on many friends accounts. The results were just like I expected, this correlation based ea found a point of divergence and the whole account got wiped out. Then, a second version, P.I.D SP5 was released, which although promised to be much more stable than the ea before it, wiped the entire authors demo account less than a month after its release. I dont think the author realized how dangerous and prone to catastrophe his strategy is by design and I dont think he purposefully deceived people into buying something he knew would fail. I think this was just a consequence of a lack of understanding of what the market demands for what the market gives. A consequence of trying to find a holy grail. If you would like to read more about profitable expert advisor, how to find them, etc, please buy my automated trading ebook or subscribe to my weekly newsletter were I analyze current experts I am testing each week (you also get investor access to live and demo accounts).

Diposting oleh Unknown 09.00 0 komentar

FAP Turbo Forex Expert Advisor Unbiased Review

During the past few months, the new commercial ea FAP Tubo has risen from the ashes of a former forex expert advisor. I have to say, I am amazed at how well these guys marketing tecniques work. I could not find a single unbiased review on the internet for this expert advisor. Every site I entered had the same "template" review with an affiliate link at the end. Come on ! I try to think that people that want to get into forex trading are not stupid at all.

Of course, their website is like every other super commercial forex product website. It is filled up with "evidence", testimonials, arrows, circles, etc. The things they show you actually seem believable and they have a great tongue for talking about "live testing" and "back testing" and how you should look for live testing and so on.

Well, reality check my friends. I will now try to tell you what the real deal with this expert advisor is and the things that should have made you ran away from their website in the first place. I will assume that everything they show is real evidence and I am going to ellaborate from there.

First things first, it is not difficult to make money in the forex market, even on a live account, in time periods as short as the ones shown by the fap turbo website. For the sake of clarity, any scalping expert advisor with a wide stop loss or a martingale system that trades frequently can and does show amazing profits in time periods as short as the ones shown in their live accounts. The catch ? Keeping those profits is an entirely different story, these type of systems are doomed to eventually wipe out there accounts. This is a statistical fact, not something I am making up right now.

Second thing, why would the fap turbo team not give investor access to their live and demo accounts ? My best guess is that they would not like you looking at the exact way in which this ea actually trades. How does it trade ? Well, it has two systems, a scalping system and a "long term" system for the EUR/USD.

Now it is time for a big laugh, the scalping system uses a 500 pip stop loss. This means that your win to lose ratio is awfuly bad. Losing a few trades is enough for wiping several dozens of winners. Of course, it could in fact win 95% of the time, which does not mean it is profitable at all if on the 5% of trades it loses, it wipes the account. This of course, cannot be seen in backtesting which often favors scalpers because of one minute interpolation errors. Their other system is quiet similar to the one I discussed when I revied forex autopilot, so feel free to look at that post.

Well, I cannot say that the fap turbo people are dishonest or that they are aware of their systems possible flaws. What I am saying is that I would never ever buy this piece of software as it is clear for me (in my humble opinion) from the beginning that it is doomed to lose because of its trading methods. I think that their website shows a very clever selective display of information which clearly shows people what they want to see, how they want to see it. If they were ever serious about the profitability of their product, they would provide investor account information and not try to sell it before a year of live testing.

On another note, there are cases in a few forums were people are finding out the real way in which this ea trades and the truth about its risk to reward ratios, please google this forums and look at other peoples experiences before deciding to buy a product of a marketing website. Now, if you would like to learn about more free and commercial expert advisors I have tested and reviewed please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !

Diposting oleh Unknown 13.45 0 komentar

The Simple Daily System Likely Profitable Forex Free Expert Advisor

Three months ago, I wrote a post about the Simple Daily System expert advisor. This free system was doing very good at that time proving to be a profitable and reliable trading system. Now, after four months of forward testing, there are several things I would like to share with you about this free automated trading system.

The SDS ea went smoothly through the rangy period at the end of 2008 and gracefully entered 2009 with profits above 50%. After four months of forward testing, the expert currently stands at a very profitable more than 70% capital increase with a low maximum draw down. (Below the forward testing equity graph of this expert from November 2008 to February 2009)
-
-
The simple daily system is a clear example of a high quality expert advisor that can be traded for free. It is excellent at following and capturing profits from daily trends (captured more than 1000 pips on an uptrend at the end of 2008). and staying on the sidelines on ranging markets. Needless to say, the simple daily system now qualifies as a likely profitable expert advisor for me and will be considered profitable after it succeeds at 6 months of live trading with profitable results. A live account will be tested from the first week of March.

If you would like to learn more about the Simple Daily Systems results and settings please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !

Diposting oleh Unknown 04.30 0 komentar

Forex Expert Advisor FAQ

There are many people new to the forex market and many more new to the world of automated trading. For this reason, I have put together this general frequently asked questions section. To help anyone who needs to gain a deeper understanding of this subject.

What is a forex expert advisor ?

An expert advisor is basically a program written in the metaquotes language that trades automatically using the metatrader platform.

What is an expert advisors objective ?

The objective of an ea (expert advisor) is to take trading decisions away from the human trader. Alternatively expert advisors can be used to just do money management, loss control or other similar jobs which can be automatized in forex trading.

What are an experts advantages and disadvantages over manual trading ?

An expert advisor has the advantage of being emotionless. Expert advisors feel no fear or greed and operate purely based on mathematical logic. They also have the advantage of letting a person trade without the stress of being constantly on top of the market. A person does not have to worry about monitoring indicators and charts many times a day. An expert advisor can also monitor a wide range of indicators given its computational basis. Something which would be extremely hard for a person.

An expert advisor has many disadvantages though. The main disadvantage is that an expert advisor has a limited logic. It only has a certain amount of rules incorporated into it, making it vulnerable to market changes, while humans can adapt relatively easily. They are also limited by the amount of data they can access. An ea has no knowledge of fundamentals or news. This makes his vision of the market somehow limited as it cannot anticipate moves based on economical factors.

Is trading with a forex expert advisor profitable ?

This one is probably the biggest frequently asked question. Well, to be completely honest, the technology is rather new. They are not any commercial expert advisors (to the best of my knowledge) that have a track record which is long enough to support long term profit making. An even though we may be lacking direct evidence I am inclined to suggest that expert advisor trading can be profitable, probably to a lesser extent than a professional forex trader. I strongly believe though, that the perfect setup for expert advisors is in combination with other experts in a well made portfolio (like the ones being tested on this website).

What characteristics should I look for in a successful ea ?

Successful expert advisors are a very hard thing to find. This is mainly because the market is plagued with people that sell expert advisors that simply do not work. For me, inferring from my experience, a profitable ea has at least the following characteristics.

- It has great money management which obviously includes a stoploss
- It has given positive results at least in 2 months of forward testing
- Does not produce more than 5-10% monthly profit
- It has positive reviews from unbiased people (this means non affiliate, non friends with creator,etc)

These are characteristics which I consider necessary but not sufficient. An expert advisor must have the above to be successful but a loosing ea can have them and still be a bad ea. This at least, discards the experts that lack them.

I am new to the forex market. Is this a way for me to trade ?

Please be very very careful. Although expert advisor trading is promoted as a way for the forex newbie to make money, I strongly recommend caution. Expert advisor trading is a very competitive market with many people out there waiting to get the forex newbies money with the promess of financial success. Sure, a newbie can be successful with the right expert and the right market conditions but again, you need the knowledge and understanding of the forex market to be successful. To understand which experts to buy and to understand when they are unprofitable and should not be trading. I advice you read a lot of reviews and investigate experts you want to buy very deeply.

Are free expert advisors a waste of time ?

Many people think that if an ea is not commercial it is doomed simply by virtue of the market getting efficient to the experts modus operandi. This is a plausible very hard to test hypothesis because it would require a profitable expert advisor which becomes unprofitable by simple virtue of it being used. This is very unlikely. Most likely, free experts become unprofitable because of rigidity. Their logic is to stiff to adapt to ever changing market conditions. My solution would be to use many, and their rigid logics would become plastic with combination. This is the idea behind combining them in a portfolio.

This I think, covers many of the general questions people have about expert advisor trading. This will be completed in the near future with another section which will treat logistic questions (such as broker, installation, etc).

Diposting oleh Unknown 00.30 0 komentar