Control of the effectiveness of an Expert Advisor - page 2
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But when you have driver's license and if you don't drink before to drive the car, for 90% of drivers there is no problem with the car because the crash test has been made by the constructor and driver's follow the recomandations (school driver and constructor).
With the EA, buyers follow recomandations of seller but 95% of the buyers loose money when they bought a EA because sellers sell products that have not passed the crash test (for example 6 months of live signal), there is a big problem, no?
1) This is not necesary to test an EA on demo account because you know that conditions of trading are not the sames on demo and real account and in definitively demo test it's a waste of time.
2) It is not necesary to spent time to make a backtest because it's a waste of time.
3) When you buy an EA, you have only one solution: test it on real account. But if the EA doesn't work correctly, you loose your money again (purchase of EA + capital loss).
4) Which another solution do you have to test a EA? You can have 30 years of trading experience, be the best trader on the planet, if your EA sucks you won't make any money.
So, in essence, you want a free meal ticket. You want everything done and checked and tested for you, so that you can just click a button and sit back on the beach with a cocktail drink in your hand and enjoy the breeze while the money roles in.
Dream on! If you don't put in the effort, or study, or research, or put in the hours to gain experience and learn to do things, or do your daily, weekly, monthly or yearly maintenance and tasks, then you can forget it.
Sorry, to burst your bubble! But it will NEVER happen the way you want it.
Hi,
Why doesn't MetaQuotes require its EA sellers to post a live signal before to sell an EA on mql5 website?
A backtest is worth nothing, only a result on a live trading account has some value.
Hi Eleni.
A live signal is better and more reliable than a backtest.
Why MetaQuotes doesn't require for all EA sellers to post a 3-6 month live signal (on live account) of their EA before to sell it on mql5? This will remove all bad and not reliable EA's and buyers save money.
This is your opinion, not mine and I don't agree with your arguments. When you buy a car, this is not at the driver to make the crash test to verify that the car is not dangerous, no?
Taking the same analogy of yours, automotive industry has more trusted crash tests such as NCAP. These are not mandatory, yet good manufacturers pay for them to prove their products are indeed good. Same goes for MQL5 products, it's in sellers' interest to show a live signal and prove their EA is worth it. No need to force live signals. A smart buyer will research the product before buying (or not) it.
With the EA, buyers follow recomandations of seller but 95% of the buyers loose money when they bought a EA because sellers sell products that have not passed the crash test (for example 6 months of live signal), there is a big problem, no?
All these 95% are buyers without a "driving license". The more experienced traders simply wouldn't buy such an EA. Keep in mind, no one forces you to buy an EA without a live signal. It's your choice.
2) It is not necesary to spent time to make a backtest because it's a waste of time.
You're wrong here, and it's not simply my opinion.
1. if you're experienced enough, you can learn some things from backtesting only, especially because it shows the default indicators used. While analyzing EAs for hundreds of hours, I've often managed to understand completely how some of them work, simply by analyzing the backtesting. Once you learn the strategy, you don't need a live signal anymore to trust the EA. You can even manually trade the strategy, or code the EA yourself.
2. even if you have a live signal, you'd better compare backtesting to live signal. The live signal can survive those 6 months you mentioned, while the backtesting could show that the EA would lose all your money 7 months ago, just before the live signal started. Or, you can see that backtesting doesn't match the live signal, and then there is again something fishy. For example, the set used on live signal is different, or another EA was used for live signal. How do you prove the live signal uses the EA which is sold, without checking the backtests?!
4) Which another solution do you have to test a EA? You can have 30 years of trading experience, be the best trader on the planet, if your EA sucks you won't make any money.
It might be enough to have 2 years of experience, to know to choose the right EA.
People tell you "Experienced traders know to choose the right EA. No need to force live signals for EAs.". Yet you seem to ask again and again "what can you do once you did the wrong choice? Please MQL5, do that choice for me!"
So, in essence, you want a free meal ticket. You want everything done and checked and tested for you, so that you can just click a button and sit back on the beach with a cocktail drink in your hand and enjoy the breeze while the money roles in.
Dream on! If you don't put in the effort, or study, or research, or put in the hours to gain experience and learn to do things, or do your daily, weekly, monthly or yearly maintenance and tasks, then you can forget it.
Sorry, to burst your bubble! But it will NEVER happen the way you want it.
Yes sir when you pay a product it's absolue normal that this product is perfect and conform, these are the basic rules of trading.
You literally repeated yourself. Are you here for other people's opinion, or are you here just to prove your opinion is the only right one? Anyways, let's get to the subject again.
I have the right to disagree with the answer that was given, no?
But you also don't need it, when buyers are smart enough too choose the right EA.
It might be enough to have 2 years of experience, to know to choose the right EA.
You seem to have convictions and be a smart trader with experience, which right EA should I buy on mql5 according to you? Please post an EA that you have bought on mql5 and you use personally with profit since 5 years (mini) with live signal.
M. Carreiro, you can also post here your favourite EA bought on mql5 website with your live signal.
I have the right to disagree with the answer that was given, no?
Sure))
You seem to have convictions and be a smart trader with experience, which right EA should I buy on mql5 according to you? Please post an EA that you have bought on mql5 and you use personally with profit since 5 years (mini) with live signal.
Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime.
I explained previously how to find good EAs. Of course, you'll have also to invest some time to get more experience, but what I've mentioned will save you some time and money.
But, I can help you with your primary problem - MQL5 not forcing EAs to have a live signal. You can simply search for "live" keyword on MQL5 Market page, or click on one of the 2 links below
MT4 EAs: https://www.mql5.com/en/market/mt4/expert?filter=live
MT5 EAs: https://www.mql5.com/en/market/mt5/expert?filter=live
Most of the results shown there will have a live signal. You can even use Ctrl+F on each EA's page to find faster the "live" keyword which usually contains the link to the signal. There are even EAs with 2-5 years of live trading.
But still, remember to analyze the EA yourself, and compare backtestings to trades from live accounts.
Incorrect! You don't buy a Market product. You pay a fee, for a license to use that product as-is with no guarantee at all. It is stated in the rules:
I don't use Market products. I make my own Indicators and EAs.
However, it is against the forum rules to recommend Market products or to discuss them in specific terms.
I think that mql5 market is a jungle: no trading result guarantee, no obligation to post a live signal, no refund possible if the EA is a scam, etc. They sell product and win commission on sale, they don't care if the products they sell are of good quality or no.
I bought dozens of EAs on mql5 for a total of $2300, all were perfect (backests of 15 years made by the seller, confirmed by my own backtest), I followed all the recommendations of the seller (choice of broker and account type, timeframe, etc...) and none of them made money on a live account. Today half of the EAs I bought are no longer for sale on mql5 (they are deleted from mql5 website), the last https://www.mql5.com/en/market/product/78779 that I bought on April 14 is already deleted from the mql5 website... yet mql5 did take its commission on this sale when I bought it: it's really not serious and it's a scam! It is time to change the mql5 rules because buyers loose their money.In conclusion. Do not buy any EA. not here not anywhere else. Learn to code and build your own EA.
This will pay out in the end. Either by profiting from trading wit your EA, if this fails you sell your EA on the market like anyone else.