Why I prefer EA's to Manual Trading

[ElectricSavant]

Yes this has turned out to be a good thread. There is a lot of experience in here.

I hope others will read this now and in the future and get some wisdom.

If one is trying to save time...read this entire thread and ponder what some of the experience is whispering....when you reflect, its the small voice that you hear that matters.

Everyones experience matters, just please post about it here to make this a complete gallery of fine art.

Thank you posters for this thread.

ES

Quote from flyingreturn:

Great post ES and thanks for sharing!

I used to manually trade and I liked it. But sometimes, it was like real hard work with a lot of stress for me.

Recently, I started using a new EA with an autotrader.
It uses 400:1 but you can set it up yourself. It can execute trades during all hours of trading if the market meets the parameters specified by the EA. Now, I don't open any position manually.

What's the point?
Yes I like manually trading as well and I still do, just with smaller positions.
The major part of my money rolls on this autotrading software and I like it! It makes money for me, smaller returns than used to, but without any intervention, without analysing anything.

So I do hybrid

Cheers

 

[ElectricSavant]

One more thing...

For you gourmets of EA's....for the real connoisseur of EA's.

For those of you that live eat and breath EA's...

Google funyoo

This is the best place to try EA's and get coding done. There is like nearly 500 EA's there with performance graphs....etc...

I was in hopes that ET could also provide a place where Forex EA lovers might visit...but there is no way I want to compete with funyoo....He is a machine. I am trying to carve out a niche for ET and the wonderful posters here are the guiding light.

EliteTrader seems to attract the people that work in the industry more than the retail trader. So naturally we will get the other side of trading here....so ET should be able to find its unique niche nicely.

ES

P.S. There are a lot of Russian sites in Russian with Russian coders. The translations to English are terrible, but there is some real powerful stuff in those sites, if you can make it out.

P.P.S. I am a paying member at some of these sites (namely, funyoo), but I cannot post EA's here that I get from there as they are not considered public domain. look! I just want you folks to be successful and visit ET often. I hope this helps.

 

[StateWX]

Quote from flyingreturn:

Why not using Zulu StateWX?

Yesterday I read this thread http://www.forex-tsd.com/general-discussion/18530-zulu-trade-14.html about how Zulutrade place the signals that they want in the best ranking positions.

Last friday they had in 3rd position this signal "Zulumaster1", after a complaint of a user, this signal is now in 267th position. But Zulumaster1 isn't the one that is a fake, I have checked another best ranked signals and this fake is in more.

 

[fxgator]

Quote from StateWX:

Yesterday I read this thread http://www.forex-tsd.com/general-discussion/18530-zulu-trade-14.html about how Zulutrade place the signals that they want in the best ranking positions.

Last friday they had in 3rd position this signal "Zulumaster1", after a complaint of a user, this signal is now in 267th position. But Zulumaster1 isn't the one that is a fake, I have checked another best ranked signals and this fake is in more.

That's why i left zulutrade a long time ago...

 

[alarFX]

Zulutrade has a lot of problems in his business model and the most important is that they don't have the control of their providers.
There are many scammers making available their signals to users, and the company doesn't take responsabilities if someone lose his money in this way...Provider, company and broker win money with every trade ...the only losser is the user that suscribe to that signal...

 

[StateWX]

Welcome to the group of defrauded by zulutrade.
Now, we're here only a few, but I'm sure that we're a great group.
Zulutrade works to invest with them once, and in once you'll lose all your fund.

But I wonder... It's not better to offer a good product and then get a lot of satisfied users?

 

[alarFX]

I'm sure too. The club is open now... Maybe all of us can achieve that zulutrade desapear as they did with our money.

 

[flyingreturn]

Quote from ElectricSavant:

Sounds like a plan Good1.

There are so many public domain EA's out there there must be one that works for a while with correct inputs.

As far as Managers....You have some good observations and questions...I do not like heavy drawdown so equity curve is not the only thing I will look at...I am also interested at how long the results have been performed...ie how long has he traded the PAMM account...

also staying diversfied across different pair is important... you do not want all of your EA's and managers trading the EUR/USD....

That all I can think about for now...

ES

P.S. I am not a big fan of ZulaTrade, Tradency and such...

Hey ES, thank you for your thoughts!

I agree with you and at the same time I disagree

I love automated trading and I love manual trading, both is fun (if the return is right).

I have an EA and I have my manual positions as well.

Be hybrid.

 

[ybfjax]

Quote from ElectricSavant:

........I have discovered that EA's are the best for me. I prefer monitoring automatic trades rather than placing them. I must multitask throughout the day and I cannot be glued to the trading charts. But one very important point I would like to make....EA's do not work always. Some of them work in trending and some of them work in chop...also ALL of them eventually stop making profit. So it is my job to try and discover WHEN to stop using them. I have not found an adaptive EA that is set and forget. .......

ES

Quote from cvds16:

... the only way that would work if you really found the holy grale or maybe if you traded discretionary at a master level ... and no bot will ever be able to do that ... GS with all there manpower would have found this one allready long ago and rest assured it would be much more complicated than you'd ever find on the net ... so you go for the simple and the drawdowns and the 'low' leverage ... like everybody else ... I seriously doubt an EA can even trade as good as a discretionary trader but it's going to be more disciplined ... nevertheless ... garbage in, garbage out ...

Be very careful when you use such presumptions like "all". It is true that if you are using a "black-box" EA that you have no idea how it truly works, then you are destined to fail. But it wasn't the EA that failed. It is the user's ignorance as to how the EA is supposed to function. The EA only does what it is told.

Think about everything that "works" consistently in your life: your car, fridge, stove, heater and other appliances; the ocean and even your own body. What do they all have in common? They all are completely transparent and they work over and over again in exactly the same way: put repetition in action.

Why would trading be any different? There is no secret to find, the truth about price action is right in front of you. It really has nothing to do with charts. it's really a numbers game and you have to manipulate numbers to your advantage. This does not require "deep" mathematical concepts. It may require logic and attention to detail.

I found that cost averaging works out well in just about any market. Combined with compounding, it makes for quite a sensible strategy to continuously extract profits from the market. Would I sell it? Why not? All the stuff that you own now that you use most often....didn't you pay for those items? Most people are so far removed from awareness, that life's most simple truths are right in front of them but they look the other way. We get what we ask for; we pick our teachers and our leaders. We hold ourselves hostage with the thinking that it is never possible.

Practice and repetition makes the master.

 

[fxgator]

Agree upon being hybrid. Both have the advantages and disadvantages. So why not use both? Double the trouble? No. We are doubling the money.