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Michalis Phylactou
9407
Michalis Phylactou 2016.03.14 19:36 

Hi guys

Before reading this I wish to say that I do not mean to question the integrity of MQL5 Market or specifically target a Seller or product.

I would like to understand what your thoughts are towards spending a considerably high amount in purchasing EAs and Indicators.


I see from time to time in the Market some Robots, priced between 1000-2000 USD suddenly appear in the top ranks for a few weeks and then disappear.

Some common things I see in these EAs.

- Very high price

- No rent option

- No (or extremely few) reviews

- An amazing backtest

- No real account monitor and/or demo account performing amazing or real account with minor balance


It is common knowledge that due to execution slippages and spreads real can perform much different compared to demo and even more obvious in cases of scalpers that use extremely high lots where every fractional pip maters.

Obviously some people would buy these EAs  believing the high price and ranking is justification of how good the Robot is.


I can understand a product to be worth so high if it has a decently funded Real Account showing steady acceptable performance with proper risk and reading good customer reviews.

But with absence of the above elements I really wonder how some people can spend that much and purchase such products.


Thank you

Md. Shahadat Hossain
567
Md. Shahadat Hossain 2016.03.14 19:42  
bcz ppl always looks for easy mony and think robot can make money, actually there are lot of ppl who has huge moeny and they take risk to buy this kind of think. if that works thats fne to them if not they dont bother to lose few k .
Francis Dogbe
9422
Francis Dogbe 2016.03.15 20:05  
Michalis Phylactou:

Hi guys

Before reading this I wish to say that I do not mean to question the integrity of MQL5 Market or specifically target a Seller or product.

I would like to understand what your thoughts are towards spending a considerably high amount in purchasing EAs and Indicators.


I see from time to time in the Market some Robots, priced between 1000-2000 USD suddenly appear in the top ranks for a few weeks and then disappear.

Some common things I see in these EAs.

- Very high price

- No rent option

- No (or extremely few) reviews

- An amazing backtest

- No real account monitor and/or demo account performing amazing or real account with minor balance


It is common knowledge that due to execution slippages and spreads real can perform much different compared to demo and even more obvious in cases of scalpers that use extremely high lots where every fractional pip maters.

Obviously some people would buy these EAs  believing the high price and ranking is justification of how good the Robot is.


I can understand a product to be worth so high if it has a decently funded Real Account showing steady acceptable performance with proper risk and reading good customer reviews.

But with absence of the above elements I really wonder how some people can spend that much and purchase such products.


Thank you

Its quite simple mate. Those persons that purchase high valued (priced) expert advisers are certainly naive and rookies in the trading world. :( Some people view things that has no value to be worthless and a product of lazy handwork, so might not produce any yield and fruitless. The common cliche that goes ''cheap things are expensive'' are what they live by which is sometime not truth. They seem to forget that it is quality not quantity. Also some traders will want to buy an expensive EA in the view that if they buy it they can equally make the same result as depicted in the backtest and get the money invested back in no time. 

For me i call it a fool hardy situation that will continue. 

/
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