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What is the best EA to buy?

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msc0015
163
msc0015  
I am new to EA's.  Any recommendations for what I should buy for MT4?
honest_knave
Moderator
2423
honest_knave  
I'm sorry, advertising is not allowed in the forum and any "recommendations" would invariably be advertising.
msc0015
163
msc0015  
honest_knave:
I'm sorry, advertising is not allowed in the forum and any "recommendations" would invariably be advertising.

Well then this is an incredibly unhelpful place. 
honest_knave
Moderator
2423
honest_knave  
msc0015:

Well then this is an incredibly unhelpful place. 

I guess everyone has their own opinion of "helpful".

Personally, I wouldn't be taking anonymous recommendations from a forum about which EA to risk my money with anyway. Think about the quality and veracity of replies you're likely to receive.

And it has always been nice to not wade through pages of competitive arguments and thinly veiled advertising messages.

Each to their own I suppose 

You can always go to the Market and read the reviews there.

Good luck.

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Michael Maggi
1492
Michael Maggi  

I'll offer an opinion, don't buy any. 

The best way to get started is to open a DEMO account and check out FREE indicators and strategies and watch how other traders use them.

There are all sorts of resources on this site including articles, free EAs, and Code Share (all free) that you can use on a DEMO account to see how they operate with data.  It is not completely realistic but there is a lot you can learn.

Check out YouTube for various forex trading strategies and subscribe to follow some of them that interest you.  DO NOT believe their wild claims of making huge profits.

Before you know what kind of EA you should get you need to know what kind of trader you are.  It is a learning process and it takes time.

Zee Zhou Ma
978
Zee Zhou Ma  
It will take years of experience to know which ea is right for you. Every type of ea has its own pros and cons. You can actually mix and match different eas on different accounts and manage it like a portfolio. Hope that helps.
Odyssee Tremoulis
433
Odyssee Tremoulis  

When I started, the first questions I asked myself were:

1. Why would I buy this indicator? If the indicator provide good indications, why the owner doesn't make it an expert advisor? It can be silly but it eliminates 95% of indicators which intend to provide buy/sell signals

2. Why would I buy this EA? If the EA works, why the owner doesn't make a Signal of it? This again eliminates 95% of EA on the market place. (Serious EA owner provide signal with their EA)

3. Why would I subscribe to this Signal? If this signal makes enough money, then the Owner doesn't have to sell it... this explain why so many signals are quite new :)

My advise is same as Michael, try the free EA on the demo account. There are a tons of free EA, and some of them worth the time more than paid EA.

britneyalston7
13
britneyalston7  
I recommend you not to buy any EA. The best way to get started is to open a demo account and check out FREE indicators and strategies and analyze how other traders use them so that you can learn and apply them accordingly.
Adrian Antohi
279
Adrian Antohi  

My advice is not to test too many (free) EA as them are pretty much the same. I looked into so many EA source code till I got bored as most of them were having the same idea behind.

A versatile EA is not so easy to find and also not so cheap.

Adrian Antohi
279
Adrian Antohi  
Odyssee Tremoulis:

When I started, the first questions I asked myself were:

2. Why would I buy this EA? If the EA works, why the owner doesn't make a Signal of it? This again eliminates 95% of EA on the market place. (Serious EA owner provide signal with their EA)

3. Why would I subscribe to this Signal? If this signal makes enough money, then the Owner doesn't have to sell it... this explain why so many signals are quite new :)


My comment from here might change your mind.

A customer will buy(rent) because it can run several EA's in the same time where Signals are having exclusivity. An Owner will publish signals because it could make more money from investors rather than it could make with it's own money.

MrSilviu
227
MrSilviu  
EA are profitable only for developers, not for you, as a trader. I recomand you to find a signal provider with good results in the past 3 or 4 months, minimum! Verry low drawdown and constat profits from 10 to 25 percent per month! The rest are only scams or not profitable for long term ;) 
I saw signal providers with more than 100% profit per month for more than 6-7 months and after that ... BOOM! 98% drawdawn! So take care!

EAs are not good! Trust me ;) They don't feel the market, they just trade and they don't care if they lose or win. Don't spend money just to lose more money! 

PS: Sorry for my english if I wrong! :D
12
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