Wth do ppl sell EAs - page 2
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I think your programmer is pulling you with the ears.
No EA takes 2500 hours to programm.
The longest EA I ever saw was 4 pages.
A handy programmer needs max. 2 hours per page.Programing is only the tip of the iceberg and a very small part of the work required, I have a couple of EA's that took 2-3 years to complete, so his figures aren't that far off
Programmes only take a few hours to write but the actual system behind the programme /ea can take months to prepare and forwad testing /optimisation and implementation etc can take few more months
In a good E A the easiest job is the programmer's
Regards
El CidGaining experience takes 20 year, I agree on that.
But producing an EA doesn't need that much time.
I have a moneymanger that uses a very good EA (up to my), he payd 200 $ to a programmer and it works exact as if he should trade manual.
He was not speaking about his education from kindergarten to university.
A good EA should be based on a system that is traded succesfull for a long time manual.
That's just my idea (doesn't mean I'm always right
)
I think your programmer is pulling you with the ears.
No EA takes 2500 hours to programm.
The longest EA I ever saw was 4 pages.
A handy programmer needs max. 2 hours per page.I have never believed in EA's. I always believed in manual trading. However, I came across a few good EA's recently. Some for free some paid. After studying them, I started to see that there are potential in EA's. However, this does not mean that one cannot trade them manually, they can be.
As for the selling of EA's, after 7 years of experience in trading, yes, there are people who make money in selling EA's than in forex. They just are not confident enough in their EA. Many EA's make profit, but at some point they lose much. They even collapse, especially for those martingale, non SL EA's.
If you want to identify a good EA, you have to look for the following:
1. It SHOULD use SL.
2. Risk to Reward ration should be less than 1
3. Hit ratio should be above 50%
4. It should work in backtests, on at least the 4 major currency pairs without any tweaking or special parameters for every pair (And this is very important).
Regards
Yanni
Welcome to My Fx Report - Live Forex Trading
what happen to steinitz EA you were a big fan
Yes, what about Steinitz? Did a drawdown happen?
3. Hit ratio should be above 50%
Regards
Yanni
Welcome to My Fx Report - Live Forex TradingHit ratio s/be 35% with take profit 4 times stop loss
1 winning trade to 2 losing trades
regards
El cid
If you want to identify a good EA, you have to look for the following:
4. It should work in backtests, on at least the 4 major currency pairs without any tweaking or special parameters for every pair (And this is very important).
Regards
Yanni
Welcome to My Fx Report - Live Forex TradingWhy is this so important?
Why is this so important?
Most EAS are optimised to trade a particular pair ,like the trendstuffer for gbp/usd ...........but if market conditions change to suit other pairs ,this ea would fail and start incurring losses on a particular pair.If you find an EA that works on all types of markets and pairs ,you have a fairly reliable E A
If it relies on one type of market conditions or one particular pair the EA will eventually start losing money and blow your account
regards
El cid
Most EAS are optimised to trade a particular pair ,like the trendstuffer for gbp/usd ...........but if market conditions change to suit other pairs ,this ea would fail and start incurring losses on a particular pair.If you find an EA that works on all types of markets and pairs ,you have a fairly reliable E A
If it relies on one type of market conditions or one particular pair the EA will eventually start losing money and blow your account
regards
El cidOnly correlated pairs have the same patterns.
Don't see the point.
Why not use different settings for each pair (the most suitable).
I think that's a better diversification.