Scam EAs in Market
yeah and some are outright fake but some they simply did not include the news filter.
I wonder why professional programmers would program and leave out such filters.
To protect the clients MetaQuotes needs to detect these EAs and remove them from the market. Otherwise many clients will be scammed trusting the results in Strategy Tester but seeing bad results on live trading market.
Hello Dmitry. Your words are true. MetaQuotes needs to come up with proper regulations and consequences against such perpetrators, as they are flooding the marketplace, rendering the efforts of genuine developers useless, as their algorithms are less likely to be considered. Many such marketplaces use escrow services to safeguard the interests of both the developer and the buyers. From what I know, scam algorithms dominate majority of the market. The few real ones have trade monitoring services such as myfxbook. Such is only useful to a long-time trader who knows how to research the product before-hand. Yet from the forum posts, I'm led to believe many users are new-bies in this platform.
Safeguarding your users is important if MetaQuotes wishes to increase their users through positive reviews. Information travels fast.
Hello,
In the Market appear recently Expert Advisors that look as Holy Grail by testing them in Strategy Tester. On real market they do not perform as good as on history. The issue is that they are based on RNN (neural network) models that fit to the history by teaching them on history data, but they cannot predict new data. So on the history they have learned to predict based on the model. This model is stored in the EA file entirely. To protect the clients MetaQuotes needs to detect these EAs and remove them from the market. Otherwise many clients will be scammed trusting the results in Strategy Tester but seeing bad results on live trading market.
Please care about this issue!
Regards,
Dmitry
To be precise , there is no way to tell if an ea has an internal neural net config or if its a history reader .
What do i mean :
If the configuration for the neural net is internal then the only way for the neural net to know which "model" to load is by reading the symbol . So which symbol is to be traded .
And this is the major "issue" that if someone who "detects" scams changes the symbol name but uses the same price action then the neural net will load the wrong "model".
So it would have all the red flags a history reader has .
This would make a decent neural net ea an easy target for those salivating at the chance to "gain the trust" of buyers by "exposing" another ea , but to be fair since the config is internal when someone says "my ea uses this nn tech" there is no way to know that .
One way for mq to tackle this , the fake nns , is license onnx configurations . So the same way an author uploads an ea and then the license is wrapped around , they would also upload onnx models for that ea to use . It could introduce another income stream too like you can sell your ea for free but charge for the models.
Instead of complaining here you should use the option to complain - of course well documented(!) - at the top of the presentation page of the product:
I believe awareness will push for change. We need as many people to speak out about this, and not hide in the shadows. Traders need to know that apart from the risk the markets pose to their capital, there are other factors that may as well ruin their first trading experience.
Hello,
In the Market appear recently Expert Advisors that look as Holy Grail by testing them in Strategy Tester. On real market they do not perform as good as on history. The issue is that they are based on RNN (neural network) models that fit to the history by teaching them on history data, but they cannot predict new data. So on the history they have learned to predict based on the model. This model is stored in the EA file entirely. To protect the clients MetaQuotes needs to detect these EAs and remove them from the market. Otherwise many clients will be scammed trusting the results in Strategy Tester but seeing bad results on live trading market.
Please care about this issue!
Regards,
Dmitry
If the customer will turn his risk to someone else so it is illegal (and illegal users do not have any rights on this forum).
read this thread for more:
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Read the rules of the market about everything:
The rules say that it is your personal responsibility of the customer about the products they selected to buy from the Market.
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More -
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I am posting this suggestion all the time on the forum. It is related to the Signals, the Market, and to the Freelance as well -
Forum on trading, automated trading systems and testing trading strategies
...
Sergey Golubev, 2020.01.16 06:35
There is one rule which some people follow:
subscribe to the signal or create an order in Freelance or purchase the product from the user/seller/coder/provider you know in person or you know by activity on the forum.
Because if you purchased something so I may ask:
"Do you know the seller in person, or you are familiar with him on this forum?"
If you say: "Not" so it will be very strange case for me ...
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There are a lot of professional and honest users/coders on the forum, and some of them are very active on this forum helping to the other people and replying on the forum posts/requests.
Always choose the person you know in this forum (who is very active here), and you will have less problems with anything.
Just my opinion sorry (because I am not a coder, and I am using Freelance and Market as well).
To protect the clients MetaQuotes needs to detect these EAs
So, if those EAs and those sellers do not break any rules of the Market - it is not a scam.
But the customers are responsible for selecting EAs for their money because it is their risk and because it is illegal to transfer their risk to someone's else.
My suggestion: the customers may buy the Eas from the friends or from the users who are very active on this forum asking the questions from the sellers before buying anything.
And the reputation of the seller (forum user) is the main factor in this situation.
Just my opinion.
I recommend to MetaQuotes to hold the money after the client purchases any product for at least 3 months. And if no complains from client, then release the money to the seller. Otherwise to refund the money to the client. This will push away scam EA sellers.
In this time, the client can test the product and see of there is something wrong.
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Hello,
In the Market appear recently Expert Advisors that look as Holy Grail by testing them in Strategy Tester. On real market they do not perform as good as on history. The issue is that they are based on RNN (neural network) models that fit to the history by teaching them on history data, but they cannot predict new data. So on the history they have learned to predict based on the model. This model is stored in the EA file entirely. To protect the clients MetaQuotes needs to detect these EAs and remove them from the market. Otherwise many clients will be scammed trusting the results in Strategy Tester but seeing bad results on live trading market.
Please care about this issue!
Regards,
Dmitry