I Bought an EA here and thinks its scam what should i do

 

i bought a EA from the mql5 markets and the backtest was very good but since 2 weeks and just seeing losses in my account  and am really upset and dont know what to do


i tried to cotact to the EA owner but he is not responding anymore   what ihave to do 

and is there any way to get the money back   

and what i have to do befor buying EA and how to make sure that its not scam

and does someone really can change the backtest result so its looks good so they can sell the EA 

and why they dont ban them from the markets 

please help  am really disappointed 

 

Forum on trading, automated trading systems and testing trading strategies

Tips to avoid being scammed …

Fernando Carreiro, 2022.06.07 14:40

Be it by fake agents, brokers, signals, or EAs, there is one weapon to beat them all — knowledge! Your knowledge is the key to prevent you from being scammed.

Invest and take time to improve your knowledge, to gain experience and improve your skills. Learn to do things for yourself and not to rely on others so much. You don’t have to be a master or even be very good at it, but the more you know and understand, the easier it will be for you to detect when something is not what it seems to be.

Learn how brokers work and how they are licensed and regulated. Learn about the different markets, trading conditions, types of accounts, leverage, and when you don’t understand something, ask first about it and get answers from different sources. Don’t just blindly accept things.

Learn to trade manually, even if you intend to use signals or EAs. You don’t have to be very good at it, but you need to understand all the different concepts of how orders are placed, how they are triggered, how to manage them, how to calculate and manage your risk, and all those pesky little details required to trade manually. Only then can you better evaluate the signals you wish to follow or the EAs you wish to use.

If you are going to hire someone to code your EA for you, then take some time to understand how coding works and some basic knowledge about it. Again, you don’t have to be good at it, but the more you understand, the easier it will be for you to communicate with the developer and provide valid, realistic requirement specifications and to understand how much work is involved as well as its value and how much to budget.

Also, learn to use the Strategy Tester properly and how to interpret the results. The better you understand it, and the more you use it, the easier it will be for you to evaluate the results from EAs you are considering.

So, in conclusion, don’t be a greedy idiot quick to jump onto anything “shiny”. Instead, be wise. Take your time. Invest in your knowledge and skills. Choose carefully.


 
Dilshad24:

i bought a EA from the mql5 markets and the backtest was very good but since 2 weeks and just seeing losses in my account  and am really upset and dont know what to do


i tried to cotact to the EA owner but he is not responding anymore   what ihave to do 

and is there any way to get the money back   

and what i have to do befor buying EA and how to make sure that its not scam

and does someone really can change the backtest result so its looks good so they can sell the EA 

and why they dont ban them from the markets 

please help  am really disappointed 

If EA is backtesting good but it is bad in real trading after that so it does not mean that EA is scam.
It means that you selected EA to buy without any thinking about the trading system based on, without knowledge concerning what the backtest is for MT4 for example (and why it should not be same with real trading in many times), and it means that you are not familiar with the author/seller
(means: he is not your friend, or he is not very active users on this forum  for example).

There are two article about how to select EA -

The correct way to choose an Expert Advisor from the Market
The correct way to choose an Expert Advisor from the Market
  • www.mql5.com
In this article, we will consider some of the essential points you should pay attention to when purchasing an Expert Advisor. We will also look for ways to increase profit, to spend money wisely, and to earn from this spending. Also, after reading the article, you will see that it is possible to earn even using simple and free products.
Reason: