No machine more intelligent than human. So never trade with any EA. Even result backtest so beautiful. All EAs just lose your money.
Remember what I say.
EA's can be used to:
A human will never be able to calculate, what an EA calculates in milliseconds.
It is plain BS to say things like "So never trade with any EA"
I do so all the time.
When you change it to "Never trust any back test" then i would have to agree.
Humans coded the EAs/Scripts and instruct them to do what they are planned to do.
If EA/Script failed to make profit, means human failed to give the right instructions including all possible cases that could happen.
EAs/Scripts can do a lot of things that Humans can't do. EAs are faster. EAs are precise. EAs are making trading easier.
If you can't make profit from EAs/Scripts, this doesn't mean that EAs or Scripts are not profitable. I'm a programmer since 2008, EAs and Scripts made my trading life much much and much easier.
If you are not a successful programmer, it is a big mistake to give your definite opinion about a thing that you can't do successfully.
I believe in that, most of profitable robot trading traders are traders who can program EAs/Scripts because they can manage trades using their EAs/Scripts and modify them even when they are running on live accounts.
This is my own opinion that I live with and makes me make money from my own coded EAs/Scripts.
I strongly agree with Marco and Osama.Your opinion about EA is very simple, but EA can do many things and help you in manual trading.
I do technical analysis on Saturday, and then, I write a new EA for every week on Sunday.
That's a different EA for every week.