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Forum on trading, automated trading systems and testing trading strategies

Can't Find Any Profitable EA on MQL5 in past 5 years.

Sergey Golubev, 2019.04.14 08:04

I have beed in forex since last century so I better know :) what's scam and how to create profitable EAs from the profitable manual trading system (and I am not a coder):

• because some people were/are creating the manual trading systems, traded this system manually on demo for few months/weeks and on real live accounts for few months/weeks with several brokers, and after that - they defined the rules for this system, and finally - they asked for coder (they paid to the coder, or coder created EA for free) to code EA for them according to their profitable manual trading system (profitable for them) - which they traded on demo and/or live for few months with proven results;
• and the other people are just waiting when all the job will be finished to ask: "Can you give me your profitable EA? Because I do not want to spend my money and my time to create the system and to ask the coder after that."

Forum on trading, automated trading systems and testing trading strategies

Can't Find Any Profitable EA on MQL5 in past 5 years.

Sergey Golubev, 2019.04.14 08:26

There are Raw Ideas. It is the ideas about the following: attach indicators to the chart and see that it may be profitable.

There are Elaborated/Proven Ideas. It is when someone was trading this indicators' setup during the several days/or weeks/or months on demo account (and, in some cases - on real live account). I am not talking abouty backtesting. Raw idea became to be a Elaborated Idea by trading (at least - on demo).
Why to trade? To define the trading rules, and to know: when the system will let you win, and when you will lose by using this system (and why).

• Some people prefer to do it in public threads (raw idea - next is indicators uploaded to the thread - next: trading with one broker - trading with the other broker - next: elaborate the rules of the system - ask for coders), receive EA based on manual trading system (some coders may code for free using the public threads: some coders will never code for free ... up to them), optimize the settings, find the settings for some timeframes and more. And some people prefer to post/iupload everything on their public threads.
• The other people are doing in privately (with no one can see it). In this case - he believes in his own results and in his words such as "it is profitable EA, please use it", but we do not believe in his results and do not trust him in general.
• And the other people do not do anything. They just ask: "did you finish your great job here? did you spend your money to find the settings, did you spend your time to trade this manuall system on demo or live, right? So, for now - you should give this profitable EA to me and explain all your system to me (for free of course!".