MT 4 EAs don't work says broker - page 5
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Also let me add that I could *NEVER* trade manually. my emotions wouldnt let me (greed, fear) - LOL! I even have a hard time watching my EA work.
if you develop an EA *DO NOT* manually intervene just watch the conditions and keep adjusting the Expert (On DEMO) until it can deal with conditions that threaten it. (or allow you to pause it safely - sometime the sidelines are the best place to be)
Also let me add that I could *NEVER* trade manually. my emotions wouldnt let me (greed, fear) - LOL! I even have a hard time watching my EA work. if you develop an EA *DO NOT* manually intervene just watch the conditions and keep adjusting the Expert (On DEMO) until it can deal with conditions that threaten it. (or allow you to pause it safely - sometime the sidelines are the best place to be)
You take the same approach that I take. I started out manually trading. My emotions made life unbearable. I thought about trading constantly...worried too much, and usually lost or made poor decisions.
I've traded with EA's, although not too successfully so far. But with EA's, I can let them do their job and sleep at night.
Broker
Im with InterbankFX (IBFX). my system uses hidden stops and visible or hidden take profits. I LOVE IBFX!! I was really worried about them seeing my TP's when I allow them to be seen but IBFX pays!!!! (i hide em now to keep em honest). I have no problem with them. you get the occasional requote but they are my first choice until aleccohfx gets nano lots. Who are you with and are you happy with them?
OK thanks, it's always good to know how others are doing with alternate brokers.
I have been with FXDD for over 4 years now and am very happy with them. As time goes by, the odd thing occurs and although I don't believe in Broker conspiracies, it doesn't hurt to be cautious.
I too have installed a True/False function for stealth operation.
Regarding manual trading, it can be extremely stressful and it only needs a short string of losses to turn you very fearful which leads to a psychological change up of your whole strategy. EA's circumvent this.
Even so, keeping your hand in at manual trading and mastering your fear/greed is an important part of becoming a great trader.
EA's do not make people traders but rather can be a fantastic traders tool.
Oceanfx
I believe in Manual *DEMO* to develop strategies but if you can turn your strategy into an EA thats my vote! I cant take it.
Its funny that even when your playing with money you can lose it can stress you out. Even though actually i develop strategy with nano lots - 0.01 minilot size (1 cent per pip) so theres no damage done and the worst bust might only cost a couple bucks.
even though the money is small you have a better emotional attachment to it since you have to fund the account instead of just restarting the platform if you mess up. I really fight for those pennies!
Pips not $$
I believe in Manual *DEMO* to develop strategies but if you can turn your strategy into an EA thats my vote! I cant take it.
Its funny that even when your playing with money you can lose it can stress you out. Even though actually i develop strategy with nano lots - 0.01 minilot size (1 cent per pip) so theres no damage done and the worst bust might only cost a couple bucks.
even though the money is small you have a better emotional attachment to it since you have to fund the account instead of just restarting the platform if you mess up. I really fight for those pennies!I hear you Fulltime...man do I hear you.
A decade back I never forget an old trader telling me to start looking at the pips rather than the $. It really assists in not taking profit too soon or bugging out early when the price has yet to hit your stop.
It's very tempting when your trade is 20 pips up to see $200.00 ripe for the picking but the fact of matter is, $$ are not part of your strategy...pip capture is! $$ come as a consequence of that pip capture!
If your strategy tells you that 80 pips is all that can be milked from the move, then you should take it and be thankful, however this must be allowed to play out. AFTER the strategy has fulfilled it's task, then and only then you can count your winnings/drawdown.
This changing in outlook is imperative especially once you have notched up to a million $ account and are trading 100 lots a time. Each pip is then worth $1000.00 and therefore if you think of $ gained/lost only, you will be an emotional wreck after 5 minutes.
Pips and strategy only my friend!
OceanFx
Looks like were on the same page. Once you have a winning strategy its easy to look at the pips as points. once you stop looking at your cash balance you can easily shift your mind into - "I Want My Points" mode. Then you become greedy for pips and *wont* cut a trade short because you want as many points(pips) as you can get.
NEWBIE ALERT: Lotta wisdom in these last couple pages. Remember these lessons while you develop/search for a EA. They will serve you well.
Summary: EA's Work!!! - hide your SL/TP - Trade a Plan and Plan your Trades.
P.S.: EAs can work for you. even the ones you buy if they're decent (backtest. backtest. only believe 90% data!) but unless you completely understand the trading strategy never trust it. stay on top of the news, watch cnbc, STUDY THE ECONOMIC CALENDER and sideline the EA if you see a news event that will bust your pair. Sideline *is* a strategy. Never trust a "always in" EA until you know it can survive Forex Earthquakes (warning: most commercial ones cant! or they wouldn't be for sale!!! but they can make you money. you just have to supervise the EA. - 'Can I go in Coach?' - NO!! not till the interest rate announcement passes. Youll get your chance kid.)
??
EA's Don't work?
Obviously not trying hard enough
M1 System 3-4 month performance. Not a million bucks a minute but a gentle 15% a month (one currency). Don't sneeze at it.
Go with the breeze people
OceanFx
EA and broker
Hello, I just read a thread here, mentioning that some broker do MESS up our trade so we will always lost. Just anyone here knew for sure the profit /loss that we make is PAID by respective broker or from some central money... in this case the broker always GAIN from the spread? Anyone pl help. tq
I must be special (NOT!) - My broker(s) pay without delay. if you're having broker problems GET A NEW BROKER!
myrizki
tq Fulltime. Just want to know in the case of TOO many client make big profit, will the broker run away- this will jot happen if the money is from some central place! tqthis is the hypotetical case..