Is profitable EA that expensive? - page 2

 
blogzr3:

Nobody would sell you an EA that is truly risk-free and consistently profitable in the long run. Which means, they pocket the money and the risk is all yours.


If someone has a truly profitable EA, there is no point in selling it - why sell cash for cash? Or as someone said, why sell a money-printing machine? At least they wouldn't be selling it at $99.95 or even $1999.95 on eBay.


Having said that, I would put more faith in EAs that require small regular payments which you can stop at any time, rather than take-it-and-run one-off up-front lump sum payments.

The reality is that sales on successful EA's pay towards the losses on the ones that ultimately fail before release!

You can only prove a system on live trading - an EA may do well for months on demo & live back-testing, but come the day, it has to be run for months on live...

Luckily I havent lost much with failed EA's as I (now) mostly code up proven manual systems like my Breakout Bandit

When I make a net profit on EA sales, it adds to my modest (but growing) capital accounts.

If you want a system to make money for you - be prepared to pay for it!

I would keep an eye on www.pipcop.com and forums on Facebook for real experience with Expert Advisers

In general, the most heavily & glossily marketed are the worst performing!

FWIW

-BB-

 
BarrowBoy:

In general, the most heavily & glossily marketed are the worst performing!

FWIW

-BB-

I agree! If I was the writer of that particular EA, I wouldn't waste time in creating heavily & glossily pages to market my EA

 

I once sold a EA on E-Bay for some profit. It was a fairly successful EA- but discontinued it because it needed too much optimization to keep it stable on a month to month basis...to have to re-update it for everyone. My reason for selling it (and I told the customers) was because I had no real cash to trade with. I was trading it on a demo account for almost a year. And it had really good results.

All this was on the page I sold it in- and I made a decent buck doing it. However- I didn't make nearly enough to actually trade live with it- so I abandoned the project. I needed $5000.00 to be able to go live, because that was the lowest number that showed drawdown that I thought was managable.

I'm kind of glad I stopped selling it- because it seems now 2 years later: It's showing horrible results regardless of optimization.

I didn't mean to sell someone a bad EA- and actually the people that used it loved it for the time it was working. I didn't zero anyone's account, hahah. It wasn't that type of EA.

So the point of my story is, is that the seller may not be scamming you- and he may actually believe it is the real deal. But it may not be a good EA- just "Optimized" to work well.

You're best bet it to come up with a good idea, and find someone to collaborate with you. I wouldn't look for something that has a win rate any better then %60- because more than likely it sacrifices drawdown. You only need a %50 win rate to make profit if your stops are smaller then your take profit.

Usually- when shopping for a EA, it's often better to find a EA that shows realistic returns. Usually the person selling the downplayed EA is probably the only one that probably is confident in the system: Because he understands the real risks that comes with it.

I hope this helps.

-J

 
jordank:

Examples of expensive EAs:


Destiny EA (USD995)

www.destinyforex.com


Pipforia HGM (USD 89/month)

www.pipforia.com


Dhananjay EA (USD1499)

private.thefxcode.com


Reviews for these EAs seem good, but live results will be better. Anyhow they are far beyond affordability for traders like me :=(


For your information the price is not USD1499. Why it is sold? Well it's for sure not cheap. Looking at the cheaper EAs, I guess Dhananjay EA owners would understand well what they paid for.

If you work/look hard enough, you can code a similarly profitable system from the blueprint mq4 open for discussion at :


Self Training PNN


Good luck!

 
well, I'm all for limited sales EA's but most that cost 99.99 at clickbank usually have something go wrong although it's great they have a 60 day money back policy. forex derivative 2.0 does have my attention because it can hedge and people are saying good things about their live accounts. most of the expensive EA's you get stuck with. i bought destiny outright and it's like fapturbo but better because of the hedging capability and no news trading options. i had it on a live account for a day but then NFA rules kicked in :( will be at FXCM UK in a while when my account get big enough at MBT live BETA from using thunder on gbpchf and eugbp for the 1st 3 hrs, which works great 85-95% of the time because of the really low spreads you get over here