18% a month return!
an age old saying comes to mind
An age old saying comes to mind, actually a few -
"Money talks, BS walks"
"Show me the money"
and I am sure there are several more that can come to mind.
18% per mth can be achieved by manual trading, and I suppose by such default, by an EA as well. But if it is doing it for him, he has no need to sell it. If he/she wants to sell it, that in itself is not a bad thing. But one has to be able to prove that a product does what it says it does.
It is not hard to code an EA to expire after a certain time period. Get a time limited version for free, run it on demo etc, and then get the answers to your questions, and then decide if you want to pay for it.
Regards,
K.
So you are saying they will not answer your reasonable questions but yet they want you to Hand Over YOUR money.
I would think about that.
(all your above questions are reasonable)
AFter a quick glance at the statement I notice a couple of things.
1 No losing trades closed out
2. Most open trades in drawdown
oh I just read this that you posted.
I queried about the floating p/l, they told me it was not relevant and they had closed all negative trades out. I then asked them to show a statement reflecting that, but they have not sent.
I would drop this guy like a hot potato....
I would drop this guy like a hot potato....
Absolutely
This is basically another MakeGrid EA. You can get it for free here in TSD. The version that seller maybe a market order version, therefore you cant see the pending trades. Only 1 advice for you, stay away... AND, all you ask for is legit. The seller is not genuine.
Regards
David
I would like to know what questions you would ask of someone if they claim they have an EA that is producing 18% a month returns.
Would it be unreasonable to see the trade history?
Would it be unreasonable to ask if the EA has been used on a "live" account?
Would it be unreasonable to ask how the EA performed during the recent slide of the cable and euro?
Would it be unreasonable to ask how much the baseline equity was?
Needless to say, i have asked those questions and more of the person who is pushing the EA, and all i get are evasive answers and they make me feel like I am the one that is being un-reasonable and rude in asking legit. questions
Just want to know what you think are good and reasonable questions to ask.
I attached a recent statment. This was sent out as part of the sales pitch for the EA. I queried about the floating p/l, they told me it was not relevant and they had closed all negative trades out. I then asked them to show a statement reflecting that, but they have not sent.You said: "they claim they have an EA that is producing 18% a month returns."
It is not true about 18%. Because this EA with no stop loss is very very risky.
It is EA similar to Terminator, or MTF EA. Anyway, it is very risky case.
You may ask the seller to give you some review according the following structure (the seller should be well-known person of course otherwise to whom you will send your money to?):
1. Introduction. Free EAs with no stop loss.
1.1. MakeGrid EA:
- explanation,
- author,
- links to download,
- how they are fixing the problems with losses,
- problems with this EA and possible decision.
and so on
1.2. Terminator:
- explanation about this swap collector,
- author,
- why no stop loss? Original system explanation from author.
- forwad testing results shortly,
- possible deposit size,
- "what is bad here?": problem with this EA.
- problems with this EA and possible decision.
1.3. [Goblin, or any others]
- ....
- ....
2. My EA [your EA].
- what are the differencies between my EA and the other well-known free EAs described on the items 1.1, 1.2 and 1.3? What the author improved or fixed? In which way?
- why no stop loss? Explanation from the author.
- author: name, where this EA was developed: institution, office, homework ...; the other EAs developed by same author: explanation, link to download if free; posts on the forums made by author; and so on.
- explanation of the system;
- where can I read some critical explanation/messages/posts about this EA? Which forum evaluated this EA?
- what the authors of above mentioned EAs are thinking about my EA? they comments or review.
- It was coded something on open bar inside this EA? On high/low of the close bar? what are the other particularities?
- every EA is performing differently with different broker and we know that. Which broker will you recommend and why?
- forward testing results and which brokers;
- backtesting results for at least 4 years with 90% every tick,
- problems with this EA and possible decision (when this EA will lose money).
- after-sale service: where, address or email, and so on.
- credit (many thanks to the following people): this guy (because he is author of the book I bought 15 years ago about the forex and learnt a lot); this person (i learnt a lot from him); this guy (learnt a lot from him); this forum (learnt a lot there) ....; my mother; my father; ...
Very simple: Tell this person that they need to learn how to trade! This is not trading. By not planning your trades, this is "enter a trade and wait while you're in the red for big $ hoping it'll come back" amateur play time.
I've said this before b/c everyone else here is afraid to say it and p....foot around and worried about hurting one's feelings but I spent too many years losing money b/c no one else would come on these threads and tell me: No SL, no trading. Whenever you see this, it's demo and/or play time. Move on this is not real trading.
I would like to know what questions you would ask of someone if they claim they have an EA that is producing 18% a month returns.
Would it be unreasonable to see the trade history?
Would it be unreasonable to ask if the EA has been used on a "live" account?
Would it be unreasonable to ask how the EA performed during the recent slide of the cable and euro?
Would it be unreasonable to ask how much the baseline equity was?
Needless to say, i have asked those questions and more of the person who is pushing the EA, and all i get are evasive answers and they make me feel like I am the one that is being un-reasonable and rude in asking legit. questions
Just want to know what you think are good and reasonable questions to ask.
I attached a recent statment. This was sent out as part of the sales pitch for the EA. I queried about the floating p/l, they told me it was not relevant and they had closed all negative trades out. I then asked them to show a statement reflecting that, but they have not sent.hi
from those statement
buy EUR at 2007.07.27 09:22
close at 2007.08.03 16:47 got 16 pips
is it feasible or no ? ... 
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I would like to know what questions you would ask of someone if they claim they have an EA that is producing 18% a month returns.
Would it be unreasonable to see the trade history?
Would it be unreasonable to ask if the EA has been used on a "live" account?
Would it be unreasonable to ask how the EA performed during the recent slide of the cable and euro?
Would it be unreasonable to ask how much the baseline equity was?
Needless to say, i have asked those questions and more of the person who is pushing the EA, and all i get are evasive answers and they make me feel like I am the one that is being un-reasonable and rude in asking legit. questions
Just want to know what you think are good and reasonable questions to ask.
I attached a recent statment. This was sent out as part of the sales pitch for the EA. I queried about the floating p/l, they told me it was not relevant and they had closed all negative trades out. I then asked them to show a statement reflecting that, but they have not sent.