Can you guy’s settle an argument for me please, I need a answer to a question from people far more experienced than me. Do robot EA’s really work long term? I’m of the impression that they all have there shelf life and after a while they start to lose, I know you can code them to do anything you want but you cant code common sense, so I say manual trading is always best. What do you think?
wackypete2
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Most EA's that are available for retail traders are designed by marketers or programmers (despite what the ad hype tells you) who have little if any actual trading experience. Sometimes they are even copied from something else and just repackaged with a new name. Some of them may be profitable at first if they were designed under current market conditions. As soon as market conditions change, such as a change in volatility or fundamentals, your account will bottom out.
The question to ask is if someone really found a way to bring the stock market or forex market to it's knees and make you filthy rich why would they sell it for $99? A program like that would be worth $$ millions to big businesses.
Peter
The question to ask is if someone really found a way to bring the stock market or forex market to it's knees and make you filthy rich why would they sell it for $99? A program like that would be worth $$ millions to big businesses.
Peter
francisfinley
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I agree with Pete.
Unfortunately you have to craft your own robot.
My advice is learn the tradestation or ninja platforms - MT4 brokers are by and large crooks.
If you want to go down that route... Its a very long road.
Since I learned that I have neither the patience or mental fortitude to sit in front of a screen all day manual trading, I have devoted a huge amount of time to writing and using trading robots. They have none of the manual trading problems which plagued my personal experience such as the need to sleep, eat, go for a bathroom break, panic or just plain finger trouble.
Having said that, most robots are sold to profit the vendor rather than the user. They are incredibly over-hyped and contain lies, more lies and forged backtests to name but a few.
Also, most robots are built to scalp the market rather than on longer term trading principles which in my opinion is a shame.
The only way to find good robots is to look for honest websites and read all the forum material from users before taking the plunge.
Having said that, most robots are sold to profit the vendor rather than the user. They are incredibly over-hyped and contain lies, more lies and forged backtests to name but a few.
Also, most robots are built to scalp the market rather than on longer term trading principles which in my opinion is a shame.
The only way to find good robots is to look for honest websites and read all the forum material from users before taking the plunge.
francisfinley
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agree with the top - dont with finding.
you will not find a bot online that works for any amount of time, the best of the worst is tradency.com/zulu/rentasignal/collective2.
you need to learn to code on your chosen platform. no other way.
im on every forum going - believe me there is nothing on these forums that will make you money off the cuff. you have to build your own stuff be it indicators or ea's or strategies. and then add hard work. and some more and then time, lots of it and then you might get lucky.
Depth Trade
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It's not whether a robot works or not, it's whether you know when it should be turned on and running or turned off.
Can you already pick the direction and know whether to have it picking long or short only directions? or do you know when the market will be ranging up/down and have it playing both long and shorts.
One needs to already be profitable to use a robot, the only thing auto trading does is compliment your skills, augmenting your physical (sleep) limitations.
Think of it as auto-pilot with an aircraft, you can't just buy software, jump in the seat and start flying, you have to have already known how to fly.
You need to have some idea of the weather ahead of you, you can't expect to fly into a hurricane just because you have auto-pilot.
:smart:
Can you already pick the direction and know whether to have it picking long or short only directions? or do you know when the market will be ranging up/down and have it playing both long and shorts.
One needs to already be profitable to use a robot, the only thing auto trading does is compliment your skills, augmenting your physical (sleep) limitations.
Think of it as auto-pilot with an aircraft, you can't just buy software, jump in the seat and start flying, you have to have already known how to fly.
You need to have some idea of the weather ahead of you, you can't expect to fly into a hurricane just because you have auto-pilot.
:smart:
enragedcow
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in my opinion they don't work because markets aren't beautifully logical like mathematics. a caveat to this is if you have a triangular arbitrage robot then it will work as long as your connection is the best in the world.
I disagree with the often touted argument that "why would you sell it for $99 if it makes thousands" because if i was a forex robot builder and the markets were lovely and logical i'd actually want to make sure EVERYONE used my robot so the "signals" would be self-fulfilling. - we won't discuss this here but I think T2W needs a thread discussing whether any form of analysis is self fulfilling in financial markets.
Robots can work and work well. Unfortunately most of the best ones are not for sale. Why?
Well, its a no brainer isn't it?
Here's an example of one we have under development at the moment. It looks good so far but there is a long way to go before we'd trust it on a large live account.
Well, its a no brainer isn't it?
Here's an example of one we have under development at the moment. It looks good so far but there is a long way to go before we'd trust it on a large live account.
Robots can work and work well. Unfortunately most of the best ones are not for sale. Why?
Well, its a no brainer isn't it?
Here's an example of one we have under development at the moment. It looks good so far but there is a long way to go before we'd trust it on a large live account.
Give us a break. Has that been backtested since the Dow was at 300? What year was that?
As you can see from the backtest, the test runs from end March 2007 to end September 2011. We used Dukascopy 99% backtest data so no "holes" or other rubbish input. This type of data is not available for earlier periods as far as I am aware.
This is a genuine backtest that took 34 hours to run. If and when we have improved the software (no software is ever perfect) I think the argument will begin as to whether we should sell it or just keep it. I am sure someone will say we have produced it with photoshop etc. but if you want to believe that it's up to you.
I have been developing software since 1964 and now only develop trading software. Why should I bother with anything else?
This is a genuine backtest that took 34 hours to run. If and when we have improved the software (no software is ever perfect) I think the argument will begin as to whether we should sell it or just keep it. I am sure someone will say we have produced it with photoshop etc. but if you want to believe that it's up to you.
I have been developing software since 1964 and now only develop trading software. Why should I bother with anything else?
wackypete2
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There are more vendors than members posting anymore. In another current thread 2 vendors are arguing over indicators 
Peter
Peter
There are more vendors than members posting anymore. In another current thread 2 vendors are arguing over indicators
Peter
where?
wackypete2
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I'm very new to this forum but rather disturbed that vendors seem to be regarded as the vampires of the business. While many so-called vendors probably fall into this category, it would be quite wrong to categorise genuine developers as such.
Being one myself, I felt I could contribute positively to this forum as I hope I have already done elsewhere. But now I wonder...
Being one myself, I felt I could contribute positively to this forum as I hope I have already done elsewhere. But now I wonder...
wackypete2
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What have you contributed positively to this thread other than saying most ea's are no good except for the one you have? Of your first 3 posts on this thread 2 of them are pimping your wares.
Peter
Peter
What positive contribution would you make? Would you share any information about your systems or just post various backtests and then hope gullible people send you a PM looking to give you money?
francisfinley
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everyone wants something for nothing.
everything revolves around money and this is the centre of it.
what would you expect?
everything revolves around money and this is the centre of it.
what would you expect?
