The top tenets of mechanical trading - page 6

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A good EA beats the best manual trader (using the same strategy)

However these EA's are not for free.

 
teldon:
16. Praying to God isn't going to influence your trades one way or another. God isn't listening and God doesn't care. Neither does the market.

wrong ,

praying to God makes you mentally prepared for anything, this you willfind out 'maybe not before your account expires " but surely before you yourself expire.

YUP!! What I can say is just "I AGREE with you", teldon!

Although the worst case we're broke we can still say "I thank God" for giving us strength to face the worst case itself, while hope and spirit will be given automatically

 

'Manual' trading should use set of rule for entry and exiting trade isn't it?

compile the rule with EA, back-tested it, you will see the performance of the rule in the past.

Mechanical trading provide human-error-less, religiously follow the rule, if the trade fail, curse the one who create the rule, not the EA nor mechanical trading system.

I agree with sjerar:

good EA beats the best manual trader (using the same strategy)

cheers,

 

How To Use Ea?

Hello Anyone Can Explain Me Step By Step How To Use The Ea?

I Don't Know How To Use?

Thanks

 
wwmmacau:
Hello Anyone Can Explain Me Step By Step How To Use The Ea?

I Don't Know How To Use?

Thanks

Look at this thread https://www.mql5.com/en/forum (there are some links to Codersguru lessons and I created/posted some video files about how to use EAs).

 

Faith

I think to have faith in your self, learn to know your actual skills and limits, to accept that you have much to learn and go ahead for learning are a good combination to success...

 
iZero:
The one from the book or the one played by Mike Myers? Anyway, #20, is that REALLY true?? In that case maybe you should have a demo account and run your trades manually. Hey, you might even learn something

This is what I do these days. I don't trust any EA to put trades on my live account so I run my EAs on a demo account on another machine and I have written a script to monitor the MT4 log files to send me an e-mail/SMS when an action takes place (open, close, modify) which then prompts me to look at the appropriate charts and make a decision on whether or not to enter the trade on my live account using a combination of chart analysis, fundamentals/news, and intuition/gut feeling. The human brain is one big parallel and serial processor in one and that will beat any machine if used properly.

 
Elfive 9:

5. 99% of all EA's are destined to fail. Some sooner, some later.

9. You're worst enemy in trading is your broker.

12. Any EA's freely available publicly will lose your trading account.

13. 95% of "traders" on public forums are as uneducated as you are about trading. Be wary of free advice.

I have more if you'd like to hear them.

Nice thread thx.

For 99% of EA that will fail someday:

is it really true?? I don't know about that. maybe yes may be not..:D

You're worst enemy in trading is your broker.

Thats why they doesnot provide a profitable system (may be they happy when trader lost their money

Any EA's freely available publicly will lose your trading account.

High Risk High Return

95% of "traders" on public forums are as uneducated as you are about trading. Be wary of free advice.

.. I agree with this one

 

Yes and No

Well, this is my first post on this forum, but this thread is fundamental to what I hope to achieve from trading and there has been some very good and some very naive comments. The first thing I will say is I am new to forex, but certainly not new to gambling. That most people fail at making money is usually due to greed and get rich quick mentality. I wouldn't ever trade the forex until I understand what it involves. However, that one has to have a university degree in programing to profit from automated trading is totally wrong. What you need to have is a very good understanding of what you wish to achieve, and then you can find out how to achieve that goal. It's like driving a car, I'm a professional at that, and understand the basics of an engine, but I don't understand how every bit of a modern vehicle works, nor do I need to in order to achieve my goal. I'll give another example, I bet on horses and yes I'm quite good at it, but do I bet manually these days? No way! I had a bot created and it bets for me profitably. So, lately I have been getting used to the forex on a demo account and am trying to develop my manual trading skills, but in the long run, it will be an EA that does my trading for me. If that is an off the shelf one or a custom job, I don't care, it just has to do what I want it to do. If an EA can't make it in the forex, then I won't be trading it either manually. After only a short time studying this market, it is obvious to me that consistent profits can be made as long as some very tight rules are followed that include much historical, demo and finally live testing. If after all the study and testing nothing does work, there will always be the 2:15 nag at Folkstone to have a go on, lol. All the best, happy trading.

 

I agree with you on many points here. Most EAs will fail after 6 months of going live, all EAs will fail after a year without modification. In the end all those MT4 brokers are just taking your money. Manual trading.. 95% of traders will lose money in the first 6 months of trading, the other 5% will lose money within 2 years of trading. All the people on these forums are still looking for ways to make money in forex; if they have found a profitable way (and continues to be profitable for a long period of time).. well.. then they wouldn't need to be on this forum looking for a new EA or improving their old one now would they? Remember, everyone has an agenda. Although there may be very very few people who are sincerely trying to give back to the community, teach, and help others..kudos to them! however most of these "traders" turn out to be crooks just wanting you to pay some monthly subscription fee. All those people offering managed accounts and all those experts selling books and teaching classes and shit? if they really were successful at forex do you think that a couple hundred bucks matters to them? do you think they would put up with the annoyance of all these customers asking questions and shit? if they had been successful for 5+ years, they would be making $5k+ A DAY. They wouldn't need to teach classes or sell you some books.

Trading forex is like gambling, expect in a larger timeframe. Imagine you're at Vegas, and you are on a winning streak the first 2 hours you are there.. well, keep playing another couple of hours and you'll lose all your money.. forex is the same, remember, the house always wins.

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