mql5 has created a product which is clearly the best in forex trading - Metatrader
Do we see the same tradition when it comes to the website? Sorry, NO
It is a bunch of same EA sellers in combination with buyers' complaints.... what we see on every other site.
Yes, as a result almost all of the products will disappear, but those who stay.... Will it not be a source of income for everyone? including mql5. And what about repute?
Haven't you heard the common saying... "Its not Personal but just Business" . My friend, as you know businesses are set-up not to lose money but rather make money. Beside, the moderator of the site make it possible for authors to allow demo versions of their product for back testing for buyers to evaluate the integrity of the product being purchase.
Also it is the sole responsibility of the customer to take time to select the product that suites his preference. You need critically scrutinize the product, appraise it and read reviews and comments as well.
You can not blame anyone for a bad product purchase but yourself. If you can not find the product you want on the market then use the Freelance service to tailor jobs for you
Anyway that is my option :)
I suggest you to write directly to Metaquotes if you have any proof of what you wrote. It's completely useless on the forum.
There can be a lot of bad signals or EAs, that doesn't mean the the seller is a robber. Personally I am thinking that this is more related to incompetence than to dishonesty. An other point is there is certainly a lot of wrong expectations from sellers AND from customers. Trading IS NOT a way to become rich quickly, as probably 99% of traders believe when they begin with MT4/MT5.
Thanks Roszey for supporting my point. The moderator allow demo versions, but why??? And to evaluate the integrity, but why??? To make the things transparent... So that the customer can distinguish between the good and the bad product. So the INTENTION is already there, its only the procedure. And for the procedure, modelled ticks are not as good as live ones, so the procedure has failed. What next? should we stick on to a failed system of evaluation? or move on to a better system? which is the FORWARD TESTING..... Also, in the signals market, they do put warnings, Why? The intention to protect the buyer !!!
With that common saying, I have also heard you can't run your business on dishonesty. mql5 are very honest, but what is the basic unit of their market... EAs. And if EA is not meeting the claims of seller, IT IS a dishonest product, especially when you can't return it. If you open a shop, will you place a product, about which customers will come back to you to return? Or put something in your house, which your guests are not happy with? Or put something in your wallet that police finds it offensive? Or put something in your mind, with which you yourself are not comfortable and feel stressed?
Yes, 'just businesses' are not for good organisations, its the values more than the profits. And in the end, they get big profits too. Thats why I said when it comes to others, its acceptable. But for Metaquotes, its not. For them it should be transparency, raising the best sellers, throwing out the worst ones, so protecting the customers, hence attracting more customers who can buy anything displayed in this market with closed eyes.
The responsibility of buying lies with the buyer, do all of us not share the responsibility to protect others, if they are doing by not knowing the facts? Again I am talking about good firms (keeping Metaquotes in mind), not the 'business'
Anyway, the purpose IS to get the opinion of others, so we reach better conclusion.
Many thanks for your thoughts
The purpose to write here IS to write directly to Metaquotes, but before that, I want to ask the opinion of others. Not only that I reach to a better conclusion, but to tell them the opinion of few, carrying more weight age. Best to remind here, I have not made any statement that I need a proof. There are two questions only, first in the title, and the second one in the description. And by the way, I do have proofs, thousands and thousands, forward tests of actual buyers - you just start a thread 'unsatisfied customers of EAs on mql5 site'
The seller could be incompetent, but when he tests his EA in forward testing (in private account, not publishing it), and finds it contrary to his claims, then what? Sorry to say, he is at least dishonest, more and more if the distance between results and claims gets wider and wider.
Finally, from where these 'lot of wrong expectations' come from? If a seller says that his EA made 1% profit every month in the last one year, with 20% drawdown (more realistic approach towards forex), then what will be the 'expectations' of the buyers. Yes, I agree this will not attract many new comers in the forex, but these 'new comers' will come back to this product some time later when they are experienced, and this product WILL stay longer in the market. These expectations emerge when an autopilot is installed in 5 minutes on a vps and converts $100 to $1000 overnight - NOT said anything by the buyer, but the seller.
Its not only the sellers, these poor starters are befooled 'silently' by most of the third party evaluation sites as well - by NOT showing the big red equity or balance drawdown exactly next to the profits earned...
Many thanks for your input, I do need the opinions
Hoping to see the trust between seller and buyer, even if the product doesn't make profits at all.
I agree with you. But most of the time, it can be difficult to made the difference between a real scammer and a seller who believe in what he sold and abuse himself.
But if you have concrete proposal to improve the service and avoid that real scammers can use it, I am 100% with you.
Almost one year ago, I post same suggestion, but nobody care.... :-(
It seems everyone hope to get profit from App store ASAP, Hohoho...
But at the same time, there are enough dodgy vendors elsewhere on the net. MQL should be setting the standard when it comes to the sale of products on "their" platform and not allowing dodgy practices.
I tried a few, but the "demo" versions are only good for backtesting and not forward testing on demo accounts. I purchased them expecting them to perform as per backtest results, and then NOTHING HAPPENED on a forward test.
Personally, I am very discouraged from purchasing from the Market now (unless and until MQL clean up vendor practices).
Do we see the same tradition when it comes to the website? Sorry, NOIt is a bunch of same EA sellers in combination with buyers' complaints.... what we see on every other site.Should they not be 'guarding' their website from such robbers.Can't they make it mandatory to have a LIVE FORWARD ACCOUNT, plus a SIGNAL, for every EA seller as long as the product stays in the market?Yes, as a result almost all of the products will disappear, but those who stay.... Will it not be a source of income for everyone? including mql5. And what about repute?
You are sorely mistaken. Expert Advisors are only TOOLS, they are NOT account managers. Expert Advisors are not meant to trade your account in a fully automated mode while you go to the beach, only an account manager can do that. Expert Advisors are only a group of automated and parametrized tasks, which you, the trader, enable, disable and configure at will. Judging from your message, you should be looking for signals or managed accounts instead, and you should ask for statements to those. But not for expert advisors, which are only tools.
I use expert advisors in my trading, and I have to discretionarily adjust the parameters every few days or weeks, and those same EAs could cause disaster in your hands.
A hammer itself does not build nice furniture: it needs a skilled carpenter. Expert Advisors are exactly the same for traders.