Is profitable EA that expensive? - page 2
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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-
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
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!