Question
OK with Me
I think its OK. Its your intellectual property to do with as you see fit. But I can warn from experience with software, there are pirates out there who see nothing wrong with giving away your expertise to others for free or for their own gain.
You may be better off selling the signals rather than the setup.
thanks for advise codemeite!
I think its OK. Its your intellectual property to do with as you see fit. But I can warn from experience with software, there are pirates out there who see nothing wrong with giving away your expertise to others for free or for their own gain. You may be better off selling the signals rather than the setup.
to everyone!!! my question is, is that ok to ask some donation for the setting that im going to provide (for interested one) for freely available ea? my setting is averaging 40-50% of total initial investment everymonth, its tested with my live account and demo, don't get me wrong i wont share my setting if there's a lot of people against this idea, but i will post my statement if i get positive feedback.
I think yes it is wrong to ask for a donation for something you acquired for free.This site is for file share and all trade discussion.I havent asked for one dime and my systems make alot of money see here https://www.mql5.com/en/forum/178621/page8.If your are interested in making profit then use the whole system on RAS service.Otherwise I wouldnt recommend selling the settings as that is like asking for a quarter for 8,3,3 stochastics.Are you here to learn and grow with other traders or are you like weasel broker looking for a dime on half a pip markup?That sort of thing is frowned upon in some circles.
Disagree
I think yes it is wrong to ask for a donation for something you acquired for free.This site is for file share and all trade discussion.I havent asked for one dime and my systems make alot of money see here https://www.mql5.com/en/forum/178621/page8.If your are interested in making profit then use the whole system on RAS service.Otherwise I wouldnt recommend selling the settings as that is like asking for a quarter for 8,3,3 stochastics.Are you here to learn and grow with other traders or are you like weasel broker looking for a dime on half a pip markup?That sort of thing is frowned upon in some circles.
I am under a different impression and I have a different opinion. Toby may be using a freely available EA, but if he has made the effort to find a way to make it work, he should be rewarded. I am not convinced that just anybody can take a piece of software and get usuable results. I think it takes insight, smarts and sometimes a lot of work to achieve results. How many people can you say that about?
There are people out there as well who would rather spend the money than spend the time. I say go for it. The market will determine if his expertise has any value. And remember, most of the stuff that is free is worth nothing anyway.
???
if you got means to make money...why would you need donations?
i knew that this question gonna come sooner or later, but anyway this is my simple explanation a few years ago i start trading forex using my tiny saving 10k euro to be precise, and lost them all that includes buying a lot of rubbish EA's and manual trading, to make the story short im totally broke at the moment i have micro live account and doing well, but my problem is i have this family to support and bills to pay, the income of my micro live account is nothing compared to my daily expenditure, my personal business is not doing well due to economic downturn, so my target is if i can start a reasonable amount to trade forex at least mini account and give me sufficient income i'll be over the moon, but anyway you guys are fantastic here and more knowledge in trading way,way,way better than me, so i salute you guys!!!, well i suppose i have to learn to wait for my micro account to grow, im not here to scam or take your money guys, what im saying here is that my setting i found is very profitable, but before i achieved that i put a lot of effort, time and lost my little savings, i dont know yet what im going to do, but soon i will publish my detailed report for your own reference.
if you got means to make money...why would you need donations?
i knew that this question gonna come sooner or later, but anyway this is my simple explanation a few years ago i start trading forex using my tiny saving 10k euro to be precise, and lost them all that includes buying a lot of rubbish EA's and manual trading, to make the story short im totally broke at the moment i have micro live account and doing well, but my problem is i have this family to support and bills to pay, the income of my micro live account is nothing compared to my daily expenditure, my personal business is not doing well due to economic downturn, so my target is if i can start a reasonable amount to trade forex at least mini account and give me sufficient income i'll be over the moon, but anyway you guys are fantastic here and more knowledge in trading way,way,way better than me, so i salute you guys!!!, well i suppose i have to learn to wait for my micro account to grow, im not here to scam or take your money guys, what im saying here is that my setting i found is very profitable, but before i achieved that i put a lot of effort, time and lost my little savings, i dont know yet what im going to do, but soon i will publish my detailed report for your own reference.
Summary:
Deposit/Withdrawal: 5 000.00 Credit Facility: 0.00
Closed Trade P/L: 8 824.44 Floating P/L: -3 570.80 Margin: 3 800.00
Balance: 13 824.44 Equity: 10 253.64 Free Margin: 6 453.64
(result starting dec. 14, 2009 - jan. 15, 2010)
i will publish again next month the result of my setting, happy trading to all!!!!!
Hi toby123,
If you are asking about legally or illegally by law so it is legally to sell the settings (by the way - I did not check the laws for many countries so may be I am wrong). If you are asking about legally or illegally in forex forums (including our forum as well) - so it is illegally in forex world in any forex forums if doing without author/real owner of this EA, or some coder who will act on behalf of him.
If you will post your settings here and the link to download free EA, and after that will ask for donations - yes, it is possible. But if you are planning to send/sell the settings after donation so it is commercial activity which is impossible to provide without the owner/author of this free EA. Any free EA or indicator is having the owner. In most of the cases it is same with the author.
So it is better to find the author and I am sure - he will agree with you and he will help you (for some 50:50 for example) and even more: he can improve and make next versions and you will make the settings.
And in this case - it will be as very productive business for both.
Because any piece of software is having the owner irrespective of free one or commercial one.
Or find the other programmer who will try to find the author (if possible, or if the author is available), and if can not find - he can take care about the code and so on with same as 50:50 for example.
hi, newdigital,
thanks for sound advice, really appreciated, until now still gathering some more information.
by the way guys my target for next month is 18k-20k 
. QUOTE=newdigital;327354]Hi toby123,
If you are asking about legally or illegally by law so it is legally to sell the settings (by the way - I did not check the laws for many countries so may be I am wrong). If you are asking about legally or illegally in forex forums (including our forum as well) - so it is illegally in forex world in any forex forums if doing without author/real owner of this EA, or some coder who will act on behalf of him.
If you will post your settings here and the link to download free EA, and after that will ask for donations - yes, it is possible. But if you are planning to send/sell the settings after donation so it is commercial activity which is impossible to provide without the owner/author of this free EA. Any free EA or indicator is having the owner. In most of the cases it is same with the author.
So it is better to find the author and I am sure - he will agree with you and he will help you (for some 50:50 for example) and even more: he can improve and make next versions and you will make the settings.
And in this case - it will be as very productive business for both.
Because any piece of software is having the owner irrespective of free one or commercial one.
Or find the other programmer who will try to find the author (if possible, or if the author is available), and if can not find - he can take care about the code and so on with same as 50:50 for example.
I don't see anything wrong with soliciting for funds. To be fair, you should be upfront and extremely clear to the people who provide you with the funds,
1 - are the funds being solicited for a common pool for actual testing?
2 - if the funds are entering your pocket for a predetermined set of settings, what will happen if the settings fail to work after the person has paid for it? Will you refund the user?
As long as these are stated clearly up-front, I don't see any reason why it would be wrong.
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to everyone!!!
my question is, is that ok to ask some donation for the setting that im going to provide (for interested one) for freely available ea? my setting is averaging 40-50% of total initial investment everymonth, its tested with my live account and demo, don't get me wrong i wont share my setting if there's a lot of people against this idea, but i will post my statement if i get positive feedback.