EA scams - page 3

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stuartmiles:

Does no one check sellers code for scams. For example this guy shows his EAs winning but they only win up until the last upload date and then they lose. He obviously has the data loaded in the EA

For example, his program was last updated on 28th february 2023 and you can see the great results before that date and the poor results afterwards


This means that nothing in the marketplace can be trusted and the whole thing is a waste of time. Why would anyone buy from the marketplace if they can't trust the code and they can do a genuine backtest?

all ea's that you see in the market here are scams, every coder has his own way to scam... some coders made millions scamming people... when i said that in my product description, they banned me from selling...

see the screenshot, they banned me because i said that...


 
Issam Kadhi #:

all ea's that you see in the market here are scams, every coder has his own way to scam... some coders made millions scamming people... when i said that in my product description, they banned me from selling...

see the screenshot, they banned me because i said that...


They banned you because not ALL EAs here are scams, and not EVERY coder has their own scam. Generalizing in such a naive way is neither constructive nor useful.
 
Issam Kadhi #:

all ea's that you see in the market here are scams, every coder has his own way to scam... some coders made millions scamming people... when i said that in my product description, they banned me from selling...

see the screenshot, they banned me because i said that...


Well a more applausable (applaudable ? ) protest would be to create a killer EA and publish it for free , that would for sure eradicate scammers . 

 
Lorentzos Roussos #:

That is the biggest one or a J curve

This is not necessarily a red flag , many vendors update often as they optimize sets in order for the product to be a one click away from the "proper" test . 

I mean if you are competing in  a market where EAs without explanation and politicians names get sales then you want the test process to be as hassle free as possible.

Fair dues.

(I also have some suggestions for how MQL5.com and all vendors can make more money.

I have seen you are actively, making suggestions, I welcome your input and criticism.)


Also to the original poster, the image in the 1st post may be over optimized, but might not be fake.

 
Philip Kym Sang Nelson #:

Fair dues.

(I also have some suggestions for how MQL5.com and all vendors can make more money.

I have seen you are actively, making suggestions, I welcome your input and criticism.)


Also to the original poster, the image in the 1st post may be over optimized, but might not be fake.

Yeah they are definately preparing something now that  we enter the era of machine dominance 

The sad truth is no matter how sophisticated a system there will always be a way to game it , from within or from outside.

For instance if all reviews get weighted by the usage time of the purchase , then vendors will have people keep charts open with their product on them etc.

Or , if they enforce uploading products by source code , who is managing that repository and how prone are they to bribery . Who do they know who is a vendor and is their salary going to keep them away from having any ideas. (this is why we pay politicians all that money  🤣)

etc.

 
Always best to use your own code or buy from someone who uses and made his EA  for himself. I only use my code, I know every line. 
 
Issam Kadhi #: all ea's that you see in the market here are scams, every coder has his own way to scam... some coders made millions scamming people... when i said that in my product description, they banned me from selling...

see the screenshot, they banned me because i said that...

You are contradicting yourself. If you state that ALL Market EAs are scams, then that includes any EAs you publish. And since you published an EA that was supposedly not a scam, then NOT all EAs are a scam (unless yours was a scam too 😅).

I know some of the sellers and a few that I have even coded for, so I know for a fact that NOT all EAs are scams.

There is, however, an absolute certainty, and that is that many customers of these EAs have no knowledge or skill on how to use them properly, and when they lose all their money they blame the EA instead of themselves.

 
Fernando Carreiro #:

You are contradicting yourself. If you state that ALL Market EAs are scams, then that includes any EAs you publish. And since you published an EA that was supposedly not a scam, then NOT all EAs are a scam (unless yours was a scam too 😅).

I know some of the sellers and a few that I have even coded for, so I know for a fact that NOT all EAs are scams.

There is, however, an absolute certainty, and that is that many customers of these EAs have no knowledge or skill on how to use them properly, and when they lose all their money they blame the EA instead of themselves.

🤣 🤣 🤣
 

Most people are "scamming" themselves. Including EA sellers.

To produce an EA, you need to even experience and skills in trading, it take years. You also need coding experience and skills, it takes more years. You also need experience with mql5 itself, as well as MT5 which can easily produce wrong backtests results if you don't pay attention (I am not even talking about MT4, that's for sure the scamming platform by excellence.)

To buy an EA you ALSO need skills and experience. And you need to take your responsibilities. Nobody force anyone to buy anything here. If someone buy an EA based on backtests only, isn't that scamming himself ?

Of course, all these generalization are senseless, obviously there are honest sellers. That's doesn't even mean their EA(s) are good.

 
Alain Verleyen #:

Most people are "scamming" themselves. Including EA sellers.

To produce an EA, you need to even experience and skills in trading, it take years. You also need coding experience and skills, it takes more years. You also need experience with mql5 itself, as well as MT5 which can easily produce wrong backtests results if you don't pay attention (I am not even talking about MT4, that's for sure the scamming platform by excellence.)

To buy an EA you ALSO need skills and experience. And you need to take your responsibilities. Nobody force anyone to buy anything here. If someone buy an EA based on backtests only, isn't that scamming himself ?

Of course, all these generalization are senseless, obviously there are honest sellers. That's doesn't even mean their EA(s) are good.

You are right. But that means we can't buy any products here because there is no way to check completly if it is a good product and there is a strong element of betting.

It is difficult to completely eliminate fraudulent products, but the market should make that effort. Such as asking for live signals for at least 6 months, as already mentioned. Unfortunately, it is not possible because for users to repeatedly buy bad products makes profits to the market as well?

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