Is there a profitable EA on mql or are they all scams? - page 2

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Because of market changes there is no guarantee in any EA. However you can find some via market 
 
We look to EAs because we have no control over our psychology when trading and are in a hurry to raise bigger lots when we lose. An EA that wants to survive must have a high win rate and good R:R and most importantly, it must have SL and TP. Look for such EAs and don't use margin
 
Quoc Cuong Tran #:
We look to EAs because we have no control over our psychology when trading and are in a hurry to raise bigger lots when we lose. An EA that wants to survive must have a high win rate and good R:R and most importantly, it must have SL and TP. Look for such EAs and don't use margin
Correct 
 
Jan X #:

I am the creator and user of my own self-developed EAs. I believe that real, reliable EAs that are not scams are simply not as popular because they do not generate 10,000% returns in two years. It’s absurd that people actually believe such results are realistic. Most so-called strategies rely on some form of arbitrage or martingale systems, which are not sustainable, and I would not recommend them to anyone.

Authors of truly profitable EAs often do not gain much popularity because their results do not appear spectacular. For example, my EA generated 61% profit from January 2021 to January 2025, with very low risk and a maximum drawdown of less than 6% of maximum equity. For me, these are great results—by running four different EAs with similar performance, I can achieve over 200% in four years. Assuming I have multiple setups, this translates to an annual return of 120% with a maximum drawdown of 13%. However, for some people, this is still "not enough," which is the main issue with selling EAs—many traders expect unrealistic profits instead of focusing on stable and balanced strategies.

Beyond that, I believe that only authors with small personal capital and a need for additional funds would be willing to sell a truly profitable EA with strong performance. After all, what difference does $100 make to an author managing $2 million in assets? If they can generate satisfactory profits with low risk, they can simply trade and live peacefully off their returns.

People should focus more on risk management rather than just profit potential. Take my EA as an example—someone could claim it made 610% in four years, but in reality, that would mean a 60% maximum drawdown, which, in my opinion, is unacceptable. Of course, leveraging risk to amplify returns is an advantage of trading compared to investing—if approached wisely.

My advice: If you are considering buying an EA, ask the author detailed questions about the aspects that matter to you.

If you have any questions, feel free to ask. I am newly active on the MQL5 forum—previously, I was focused on EA development, but now I enjoy participating in discussions. 

The advantage a J curve has in product presentations is it directly addresses the buyer's true desire.

 
Luke Perrett:

Hello wondering if there is a profitable EA on the MQL market or have they all got a alternative motive.

I mean lets face it, if someone had a EA that was profitable, why would they sell it. 

Very basic discussion but funny enough it may raise some concerns.

I have had many EA's from over a period of 5-6 years and if I go back in the account and click on them they are no longer available and nor is the author. 

This can only mean 1 of 2 things. 

1-They were profitable and the Author took them down and run off with there millions of $

2-They were not profitable and the Author is now nowhere to be seen.


Same questions can be raised for signals as well. 


Keen to hear any thoughts of others. 


Have a great day.

Good question. The answer is,

There good expert advisors and responsible developers. But it is not easy to come across with them.

Customers tend to be captured by the illusion of backtest results which easily could be manipulated. For example, the backtest results of all live AI thing bots are just an illusion because you can not retreat AI response to past data in real time, so the backtest results are manipulated by developers. Check the ratings of live AI analysis bots in the popular EAs list you will see how they disappoint people... Many blown accounts around  but developers sell five figure numbers. People buy and MQL5 does not accept any responsibility for these EAs.

Some (algorithm) does good job in training but can not to well in real trading environment because of the lack of learning capability of the algorithm. Such thing only could be spotted by the developer prior to real trading. Responsible developer works on to improve this.

There are some tools to discover if an EA is a history reader or not but not easy to implement. I hope someday the chaps on MQL5 automatically carry out these tests and eliminate such bots in the marketplace.

 
"Profitable" is a very relative thing. Also a random strategy can be profitable in a period of time.

The profitability is not the only factor to consider, surely the first is that the system perform into the tester and live trading into the same way. 

Overall, as for all products into the world, we can say for sure that most sold products are not the best, but only these that had the best marketing.

Just grow your knowledge, experience and your critical sense to understand if something is good enough for you or not, all others marketing tricks are there just to put smoke into your eyes.
 
"quality check" for any strategy - would you bet your house on it?
 
Quoc Cuong Tran #:
We look to EAs because we have no control over our psychology when trading and are in a hurry to raise bigger lots when we lose. An EA that wants to survive must have a high win rate and good R:R and most importantly, it must have SL and TP. Look for such EAs and don't use margin

That is true and it is good that MLQ5 lets people express their true opions here. Unfortunately, they are not saying that they found the holy grail and here is the formula... I have lost money in the thousands on EAs and brokers of all sorts and I can tell you, the edge is already against you when you jump into trading. You better have a stratety that works, or go make money selling EA systems instead, because that is where people make money I guess.

 
Charles Herman Voukeng Ngueguim #:

That is true and it is good that MLQ5 lets people express their true opions here. Unfortunately, they are not saying that they found the holy grail and here is the formula... I have lost money in the thousands on EAs and brokers of all sorts and I can tell you, the edge is already against you when you jump into trading. You better have a stratety that works, or go make money selling EA systems instead, because that is where people make money I guess.

Trading can be classified as "gambling" if very sterilized approach (to trading) is not followed. This holds for manual trading as well. Markets are not moving with any technical indicator but at the retail level, the most MQL5 EAs rely on some sort of indicatoristic approach. 

Vast majority of retail customers opt "risk" to "safety" which result in pushing the limits of algorithms and margins. This is also the place where they are trapped by fake backtest results. They expect to cover the cost of an EA in 1-2 months. This is almost impossible considering the average budget and true risk limits.

As long as good trading algorithms are used within risk limits of your budget, yes you can consistently make money.

We should not expect to live long with 1k budget using a martingale EA with 5 different pairs. It is unfortunately what most retail customers do. 

 
Very intersting discussion. Thank you!
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