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Is anyone out there really making profit from their EA? - page 4

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PRADIP RUPARELIA
5095
PRADIP RUPARELIA  

Every failed signal seller has his threads removed (nobody knows of the failures), customers can't post unless they buy the eas  or  rent them.Only users who purchased or rented the product can leave comments

Why would anybody want to buy here?


Every failed ea seller may have his product removed, the thread is then closed , so nobody knows the %  of failures, once the product is removed all the bad comments are also removed.


many years ago , someone won the championship, he did it because usdjpy was meeting the ea conditions, it was trending from 125 to dow  0.77.It rarely happens

PRADIP RUPARELIA
5095
PRADIP RUPARELIA  
ChrisYang:

I have never seen one in real life, one of my friend is working in a forex company, he told me 100% of the clients failed.

I  like to see one in reality too.

99 %  of forex traders are expected to fail, the human brain is wired to lose in the markets .Trading is like putting poison brain cells in the human mind. 100 %  is most likely figure.


Forex factory declining numbers trading losers disappearmost new traders stopped going there , 80 %  of forex factory is filled with failed traders/losers   in the commercial section "trying to get their money back  from the market" , the 20 % is new people to buy from failures in the commercial section of forex factory
PRADIP RUPARELIA
5095
PRADIP RUPARELIA  
Ste@Stevf @Stevf @Stevf @Stevf @Stevf
Stevf:


So we have a market for people to lose the money and never make anything, but why do we have a website that makes loser EAs with thousands of developers on it?



I would not spend money on anything in this website after reading the details above, in-fact i hope one of the moderators answers me when i ask the following questions, don't you guys feel you are doing wrong by working/volunteering here, its already a bad business you guys are moderating and more developers are making money out of this bad business? I really wish to know the answer now for this is a riddle to me



So we have a market for people to lose the money and never make anything, but why do we have a website that makes loser EAs with thousands of developers on it?



I would not spend money on anything in this website after reading the details above, in-fact i hope one of the moderators answers me when i ask the following questions, don't you guys feel you are doing wrong by working/volunteering here, its already a bad business you guys are moderating and more developers are making money out of this bad business? I really wish to know the answer now for this is a riddle to me


It is free lunch baiting for suckers , there is no such thing as a free lunch.   A new sucker is born everyday , to buy or rent those  EAS  , without being able to ask questions first.................about the EA.

PennySeven
570
PennySeven  
PRADIP RUPARELIA:

It is free lunch baiting for suckers , there is no such thing as a free lunch.   A new sucker is born everyday , to buy or rent those  EAS  , without being able to ask questions first.................about the EA.

PRADIP RUPARELIA:

This is what you say on your profile:

"I have 30 EAS working on live accounts , and have been developing professional quality eas for 10 years."

Compare it with what you said above:

"It is free lunch baiting for suckers , there is no such thing as a free lunch.   A new sucker is born everyday , to buy or rent those  EAS  , without being able to ask questions first.................about the EA."

I would say you have no credibility.

PennySeven
570
PennySeven  
Pat Butler:

I have tried some of the free EAs but haven't found one that makes money consistently.

I have yet to try paying but I feel it will be much the same end result.

Perhaps someone could suggest a good one ? 

You are looking for a free lunch. There is no free lunch here.

PennySeven
570
PennySeven  
Verona Cook:

I had tried too these but doesn't make any profit.

Most trading systems on popular Forex forums are created by inexperienced traders. The systems may work well for a few weeks, or even for a few months, but they fail in the long run.

This is especially true of indicator based systems. Indicators are sensitive to changes in market conditions. Some indicator based systems give amazing signals in trending markets but fail in ranging markets. The problem is that most indicator based systems are not adaptable to changing market conditions. So a system that works this week might not work next week. If a trading system has not been forward tested for over a year you cannot trust its effectiveness.

If you go down the path of hunting for Forex Signal systems you have already failed. You will embark on a long, fruitless search and find nothing.

Verona Cook:

You are looking for a free lunch. There is no free lunch here.

PennySeven
570
PennySeven  
Aaronsebaronse:

 

 the gulf between acting in the moment and acting in hindsight is just absurd,

Thus logically: if your trading rules would lead to consistent profits, then you simply have to act in the moment and your profits would be equal to what you can normally see was possible in hindsight, namely, absurdly great profits. The two would be the same, logically. All you have to do is have the discipline to act in the moment you see the signal. You provide a very clear analysis of forex trading, including the very important fact that it is critical to act in the moment. Other people say it is all about timing. Your acting in the moment comment confirms that.

Thank you for magnifying this very important point. I think it is all I miss. I have already developed the rules over 10 000 + hours of demo trading over the last three years.

Marco vd Heijden
Moderator
7237
Marco vd Heijden  

Too bad that demo hours/rules are not applicable to real hours.

It's like comparing day to night.

PennySeven
570
PennySeven  
Marco vd Heijden:

Too bad that demo hours/rules are not applicable to real hours.

It's like comparing day to night.

It is a process. You should stop reading here. You do not believe it is possible. Period. So, don´t waste your time reading more of this comment.

For other readers: Once I am consistently profitable on the Demo for 5 days in a row making on average 10% or even 5% per day, then I go live again. As soon as I have lost 20 pips or 10% (I only use 50 leverage and only trade the EuroDollar) in a day, I stop and go back to Demo. Repeat till I am consistently profitable on my real account

It is a process. Now that I have the rules, I simply have to learn the discipline to act in the moment like Aaronsebaronse: pointed out above. 

PennySeven
570
PennySeven  
Aaronsebaronse:

 

The quick answer is that very few people make money because the level of dedication and professionalism required is well outside of the remit of anything they have previously attempted in their lives. When they get a sniff of what it really takes, they bolt. Its a sobering process that requires a big stomach.

No rich quick!! Infact the further along the track you proceed, you slowly start to realise the opposite as gospel; i.e. less and less money for more and more effort. Of course if you have upwards of £250 k in spare change to play with, then you can make decent pocket money safely. But ~2-3% a week from 10k is not the way to make a living.

In my opinion the delusional potency of FX  can be so toxic that people become instant gamblers and forget about the huge demands of the job, that's if they were ever made aware of them in the first place;  gamblers are notorious bullshitters, i.e. they wont tell you how much they lose, to put it mildly. Charts and EA's also make it very alluring, people look at charts and convince themselves that they could make a lot of money, but its equivalent to looking at a video of fish swimming down a river and convincing yourself you could have caught them all, when you weren't even there... post-mortem trading is financial masturbation. The disconnect between convincing yourself of what you could have made, and the reality of what you are physically and mentally capable of, is a vast one; the gulf between acting in the moment and acting in hindsight is just absurd, two totally different animals. And its a double edged sword, not only is there personal temptation to dream about easy money, but you have others who try to convince you that they can make big money for you too! Look at some of the FX programmers on this site; some of them are working for $5 a day, yet have posted  EA's that make 10000% a year! You don't need to be Sherlock Holmes to work it out buddy...its dripping from the ceiling.

Its a VERY dangerous thing, the subtleties between gambling and trading are philosophically well hidden, the quicker you get real about matters the less chance you have of being seriously hurt. And trust me, if you are harbouring any misconceptions about easy money, you WILL be hurt.

If risking lots of money makes you sick and unstable, go and do something else, otherwise prepare for a process that will take you down a very tricky path. If its financial stability you want and you choose FX as a career, you have just shot yourself in the face.  

Aaronsebaronse:

It is very clear to me that you simply do not have the intellectual capacity to develop a profitable trading plan. Just accept that for yourself. You just are not intelligent enough for being a successful trader. Try something else. There are numerous other activities that you can succeed in with your limited intelligence. 

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