Do you prefer to use EA? - page 3
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I prefer to trade manually and have never used an EA. I did play with the idea to code my own strategy.
Did you use EA in curreny trading or you trade manually? Do you think having EA is profitable?
No i am not in the favour of EA's and its better to trade with proper trading knowledge and experience instead of depending totally on EA's.
I met many people who are insearch of any good EA that will do trading for them. I personally never use EAs in my trading . I use some indicators and do manual trading. It suits me that I can control easily. i mostly do instand trading , For this I have to watch market when positions are open .
I don't prefer to use EA as because of my bad experience with EA. I like to have manual trading as in this we get an opportunity to trade ourselves with our own analysis.
I'm a manual trader myself and never used a robot for live trading in my 7 years of trading fx.
I must say the most biggest drawback with people using robots is not really the equity curve and statistics on the on backtest or forward test, But actually understanding what the ea is trying to do and what does it follow to make a trade. Almost 90% of ea's are mechanical trading that follows a set of rules or indicator readings to make a trade, so if you don't know what rules it follows or what indicator readings or indicators it uses to make a trade, you're basically playing with fire and it's not a surprise to burn your dollars that way.
Having said that, I'm not anti-EA. Actually I'm back-testing and forward testing about 8 EA's myself on demos, because I know what these ea's are doing an I can change the settings as well as the MM in those ea's to do what I want it to do.
Anyways, if your new to trading. It's best you learn to manually trade. Automated strategies are more suited for advanced trades who know what their doing.
It's like learning a guitar, your guitar instructor will make you use the wooden guitar and make you manually play it (hurting your fingers), but once your good at manual guitar then you can start with electric guitar
I am newbie at GDMFX and I am using Expert Adviser(EA) most of the time.It is actually very useful for us newbies because we still have limited knowledge in trading.:)
I just opened a trading account last week. I do not trade live yet because I am still doing the free demo account. I am quite confused whether EA is good or bad to a newbie trader like me. I read some feedback here that it is good. And there are also feedback that it is not. Should I avoid it and do the manual over bots instead?
No I don't. I would need :
a) at least 100-125.000$ for a computer that would be able to do tasks needed by hft
b) live a 100m from the broker
c) have an account of a couple of million $ in order to be allowed to HFT
If I had a couple of million $ then I would not trade
I don't prefer to use EA as because of my bad experience with EA. I like to have manual trading as in this we get an opportunity to trade ourselves with our own analysis.
I also had bad experience with EA and i am also not in the favour of EA's and i prefer to trade with proper planning and strategies.
Did you use EA in curreny trading or you trade manually? Do you think having EA is profitable?
Yeah sure why not, but if you are new in forex you should do manual trading first.