So, how many people actually make money? - page 4
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Lieren,
I do not feel like posting something that I've thoroughly explained on my blog.
Please visit it and read the article
VANCOUVER-FOREX.COM: Expert Advisorsi dont think you blog can give me answer,the EA in your blog,all is pay the EA, and the first i already have ,but dont good to me .
your blog just a AD.
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Did you read for 1 second? or Did your read my list of suggestions?
The list of suggestions will let you know whether you should run it live or not.
i dont think you blog can give me answer,the EA in your blog,all is pay the EA, and the first i already have ,but dont good to me . your blog just a AD.
...
Did you read for 1 second? or Did your read my list of suggestions?
The list of suggestions will let you know whether you should run it live or not.FAPTurbo
Forex Brotherhood
ForexTracer
FractalWizard EA
PointBreak EA
i think this is the all ,you suggestion,the all link is all reseller link,and i already have the fapturbo,but not good for me .
so all is AD.
by the way , do you use the EA you list ?if you use ,show me the detail ,i dont want to see the detail on the seller website ,show me your trade.
Hi lieren,
All you need to read from the beginning is this small thread: https://www.mql5.com/en/forum/174416
It is 10 minutes to read.
It is written on the thread that you need just 3 small threads more (it may be good if you copy those 3 threads inside your PC so if you unsubscribe so you will have everything), 2 posts every week + 10 or 15 posts every week in weekly performance thread.
Or just download excel files (updated weekly).
Basicly it is no more than 1 days.
You will need just 1 day.
Do not have 1 day for this section?
Go to RAS thread: https://www.mql5.com/en/forum/179147
Because using RAS so you will need just half an hour to select and to install and to attach to your MetaTrader.
Half an hour is not 2 years.
And I am always here so I can help.
But selecting good EA is very personal case. What best for me is not the best for you. Because people are different, experience is different, money is different, risk inderstanding is different and so on.
So for now, copy EAs' files thread and usefull links/threads/tools inside your computer, than read 'how to start with elite section' thread, than download excel files to your PC, open it and read for 15 minutes. When go to RAS website https://www.mql5.com/en/forum/179147
Finally you will select 3 or 4 EAs for yourself.
Than go to EAs' files thread and download those EAs with the settings and with the explanation.
It's half an hour.
Because you will have many questions when you will start to use those EAs ... so you will have more problem to use in right way and to understand the systems than to select.
Because next questions you will have the following:
- which selected EAs can I use with my deposit size?
- which lot size should I select?
- profitable consistently? What is your personal feeling concerning those EAs?
- what is bad here? I know that those EAs are good but can you tell me: what is bad? because it can not be good all the time, right? When I can lose my money with those EAs and why? I want to know ...
and so on.
It is the questions you will have after selection.
Advice for the Noobs
Yes, you can succeed at trading, and you can do very well at it. But before you pick up your wooden sword and bucket helmet and go charging into the fray, consider this: you are going up against every other trader in the world -- pros, battle-hardened veterans and the shrewdest EAs that cannot be bought at any price. Every one of them is armed with a super computer. Are you sure you're ready for this?
Man, you have access to free live demos today! What an advantage it is to someone just learning the ropes, to not also have to pay for his education at $1000 per lesson! Trade on demos. Study the market. Test your ideas, develop your skill. No, it won't come easy. But give it time, it will come.
You will go through a phase where it seems that no matter what trade you take it goes against you, like user canttradefors*** lamented (you still around, dude?). It is more than discouraging to have your ass handed to you time and again. You think that you'll never succeed as a trader. No, you are merely going through a stage of development that all successful traders have had to pass through, some more profoundly than others. But its better to do it in a setting where they're not using real bullets.
For consistent losers, I have special advice: try trading to lose! I am not being facetious. Try it. Get it out of your system. When you feel a little more relaxed about losing, then you can start trading to win.
Read books, cruise the forums (this one is particularly good), get ideas. Test ideas and develop your own. Learn to write EAs and backtest. If you can't immediately find something that works, at least start eliminating the things that don't work. As Edison once said, "I didn't fail, I merely discovered 10,000 ways that don't work." As you continue this process you will find some things that sort of work. Keep journals. Over time, you will accumulate more things that work and shed more misconceptions that don't work.
Eventually you will arrive at a point where you think you've got something and you are ready to take it to the market. Start small, very small. Trust me, it feels very different when your real money is on the line. Learn that feeling and learn how to manage it. Do that without blowing out your account in the process. And you will probably blow out your account regardless, because who listens to the "go slow" advice anyways? Okay, well learn from your mistakes, scrape up some more seed capital and start again. Next time it'll take longer to blow out your account! Around the third or fourth time, you'll probably start seeing some moments of flight and your account will start soaring - just before it nosedives and wipes out again.
You will read about guys that after several years of struggling, arrived at being able to make somewhat less than a garbage man's wage by trading. And you think maybe this isn't worth it. Just realize that that isn't the final stage of evolution. Its the next step up from wiping out your account.
On the other side of that, you will reach a point where it takes a lot less effort and you start to feel in control. And beyond that lies a confident mastery.
This is not a short path, nor is it an easy one. But the final payoff is that your income potential is ultimately not limited like it is in your day job.
I know, what some really are asking is, "can't you just point me to an EA that just works like magic, and I don't have to learn anything or think, all I have to do is click on the little button on the screen and hundred dollar bills eject from my DVD drive?" You'll never find it. There's no substitute for intelligence.
I have been writing trading systems since the early '80s. I'm running an off-the-shelf EA now that is doing very nicely for me. But it is one that has been darkly panned on this forum and others as unprofitable. How is this possible? I took the time to study how it trades. I learned what the different settings did. I backtested various settings to see what worked and what didn't. I got to know its weaknesses and its strengths. I tested which brokers it worked best with. A few days ago it took a heavy loss. But it didn't devastate my account, because I was familiar with the market conditions that lead to losses and when I saw them unfold a few hours prior I sharply reduced the number of lots traded by the EA. And every once in a while when it does something boneheaded I help it out a little. And yeah yeah, someone will pan me that I shouldn't be second-guessing the EA. Re-read the first sentence of this paragraph and if you have more experience, I'll be happy to listen.
What I'm saying is that whatever your style, whether its using EAs or naked trading or any variant thereof, it will take real knowledge, real experience and real intelligence to make it in this profession. Ask anyone that is successful and they will readily tell you that it took the equivalent of a university degree to get to where they are. But hey - isn't it worth all that to not have to worry about your retirement?
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What I'm saying is that whatever your style, whether its using EAs or naked trading or any variant thereof, it will take real knowledge, real experience and real intelligence to make it in this profession. Ask anyone that is successful and they will readily tell you that it took the equivalent of a university degree to get to where they are. But hey - isn't it worth all that to not have to worry about your retirement?Well said.... There is always another way - if you don't have time or whatever reason, you can always get help from a professional. In the Free Section I started a thread "Post your Sharpe (Sortino) ratio here", where I provide a list, with a weekly update, of the RAS providers with high Sharpe ratio. Choose them for your investment portfolio and very probably you will get a consistant profit with little risk. Try to understand how they trade. I think it is a right way to go for a beginner and not only when investing in the forex market but in general. Go with the strong.