All EAs at the market - Specially scalping EAs fail in ranging markets.

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Supun Sameera Manasinghe
369
Supun Sameera Manasinghe  

There are a lot of EAs we can hire or purchase at the market. From cheapest amount to highest amount selling EAs failed to profit from 2nd of August until now. I've tried more than 20 EAs which is for sale with four different brokers. All those brokers were ECN brokers with less than 8 usd per round commission.

However those EAs performed well from the beginning of this year and now loosing all they earned. Really frustrated why? Is there anybody here with an idea why? 

Fernando Carreiro
4380
Fernando Carreiro  
Supun Sameera Manasinghe:

There are a lot of EAs we can hire or purchase at the market. From cheapest amount to highest amount selling EAs failed to profit from 2nd of August until now. I've tried more than 20 EAs which is for sale with four different brokers. All those brokers were ECN brokers with less than 8 usd per round commission.

However those EAs performed well from the beginning of this year and now loosing all they earned. Really frustrated why? Is there anybody here with an idea why? 

Indicators and EAs are simply tools, and like all tools if the wielder does not have the skill and knowledge to know how to use them, when to use them and when not to use them, the results will be a disaster.

You have to learn to be a trader and to gain the knowledge and skill of a trader in order to properly use those "tools". It take many years, not days, not weeks, not months but years. Just like any other profession, be it a carpenter, mechanic, doctor, engineer, or what ever, you need to gain the knowledge, gain the experience and slowly progress into becoming good at that profession. The same applies to trading!

Supun Sameera Manasinghe
369
Supun Sameera Manasinghe  
Fernando Carreiro:

Indicators and EAs are simply tools, and like all tools if the wielder does not have the skill and knowledge to know how to use them, when to use them and when not to use them, the results will be a disaster.

You have to learn to be a trader and to gain the knowledge and skill of a trader in order to properly use those "tools". It take many years, not days, not weeks, not months but years. Just like any other profession, be it a carpenter, mechanic, doctor, engineer, or what ever, you need to gain the knowledge, gain the experience and slowly progress into becoming good at that profession. The same applies to trading!

Now I see the reason for the frustration of many traders. In near future, no EA will trade unattended it seems.

Enrique Dangeroux
410
Enrique Dangeroux  

There is no short-cut. 

If products at market would do in line with the back-test reports without a human to supervise, there would not be products at the market because all who offer products would be sipping pina coladas at the beach all day checking their phones to see the billions flow in.

Most ea's offered here are not even worth a dime. Some maybe, but still requires, like Fernando explained the human operating the ea, knows exactly what he/she is doing. ie understands the tools and how to apply the tool.

There is no such thing as:  buy/rent/download free EA, flip it on, and make money.

Daniel Stein
43650
Daniel Stein  
Enrique Dangeroux:

There is no short-cut. 

If products at market would do in line with the back-test reports without a human to supervise, there would not be products at the market because all who offer products would be sipping pina coladas at the beach all day checking their phones to see the billions flow in.

Most ea's offered here are not even worth a dime. Some maybe, but still requires, like Fernando explained the human operating the ea, knows exactly what he/she is doing. ie understands the tools and how to apply the tool.

There is no such thing as:  buy/rent/download free EA, flip it on, and make money.

This is one of the truest statements I've ever read about this market.

In my opinion, there is absolutely NO reason to sell a fully automated and profitable trading system.

Here you'll find just backtest heroes and especially the bestsellers provide just hundreds of paid/rewarded reviews without any serious proof of their trading success. Most of them.

Conclusion: Earning money by cheating is a lot easier than earning real money with trading. Fun fact is that most customers trust the cheaters. Weird but unfortunately true.


PS: There is no reason to complain about my statement. It's a proven fact. You know it, I know it and everyone else who knows this market more than two weeks.

Enrique Dangeroux
410
Enrique Dangeroux  

Enrique Dangeroux:

There is no such thing as:  buy/rent/download free EA, flip it on, and make money.

I should add, subscribe to signal.

Supun Sameera Manasinghe
369
Supun Sameera Manasinghe  
Daniel Stein:

This is one of the truest statements I've ever read about this market.

In my opinion, there is absolutely NO reason to sell a fully automated and profitable trading system.

Here you'll find just backtest heroes and especially the bestsellers provide just hundreds of paid/rewarded reviews without any serious proof of their trading success. Most of them.

Conclusion: Earning money by cheating is a lot easier than earning real money with trading. Fun fact is that most customers trust the cheaters. Weird but unfortunately true.


PS: There is no reason to complain about my statement. It's a proven fact. You know it, I know it and everyone else who knows this market more than two weeks.

Yes I wondered why one should sell an EA which brings millions of dollars over night. Lol.. 

Supun Sameera Manasinghe
369
Supun Sameera Manasinghe  
Enrique Dangeroux:

I should add, subscribe to signal.

Yes, eventually I know, learning and trading our selves or subscribing to a good signal is the best thing. EAs, as Daniel said, are methods of cheating newbies money.

Sergey Golubev
Moderator
106097
Sergey Golubev  
Supun Sameera Manasinghe:

Yes I wondered why one should sell an EA which brings millions of dollars over night. Lol.. 

Because selling EA is quick money, but trading using same EA is "the long-term" job.

For example - you are having two appartments/flats/congos: one for your living, and the other one is empty ... and you are having the choice:

  • sell this appartment to receive money now and forget about this appartment, or
  • propose this appartment for monthly renting (you will meet the clients every month, you will speak with them, you will controll everything, ...).

So, some people decide to sell to get money now other than to do the job creating the signal and trading. Because if they are the coders so they can create many EAs, or many versions/variations of same EA ... 

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