Yes this has turned out to be a good thread. There is a lot of experience in here. I hope others will read this now and in the future and get some wisdom. If one is trying to save time...read this entire thread and ponder what some of the experience is whispering....when you reflect, its the small voice that you hear that matters. Everyones experience matters, just please post about it here to make this a complete gallery of fine art. Thank you posters for this thread. ES
One more thing... For you gourmets of EA's....for the real connoisseur of EA's. For those of you that live eat and breath EA's... Google funyoo This is the best place to try EA's and get coding done. There is like nearly 500 EA's there with performance graphs....etc... I was in hopes that ET could also provide a place where Forex EA lovers might visit...but there is no way I want to compete with funyoo....He is a machine. I am trying to carve out a niche for ET and the wonderful posters here are the guiding light. EliteTrader seems to attract the people that work in the industry more than the retail trader. So naturally we will get the other side of trading here....so ET should be able to find its unique niche nicely. ES P.S. There are a lot of Russian sites in Russian with Russian coders. The translations to English are terrible, but there is some real powerful stuff in those sites, if you can make it out. P.P.S. I am a paying member at some of these sites (namely, funyoo), but I cannot post EA's here that I get from there as they are not considered public domain. look! I just want you folks to be successful and visit ET often. I hope this helps.
Yesterday I read this thread http://www.forex-tsd.com/general-discussion/18530-zulu-trade-14.html about how Zulutrade place the signals that they want in the best ranking positions. Last friday they had in 3rd position this signal "Zulumaster1", after a complaint of a user, this signal is now in 267th position. But Zulumaster1 isn't the one that is a fake, I have checked another best ranked signals and this fake is in more.
Zulutrade has a lot of problems in his business model and the most important is that they don't have the control of their providers. There are many scammers making available their signals to users, and the company doesn't take responsabilities if someone lose his money in this way...Provider, company and broker win money with every trade ...the only losser is the user that suscribe to that signal...
Welcome to the group of defrauded by zulutrade. Now, we're here only a few, but I'm sure that we're a great group. Zulutrade works to invest with them once, and in once you'll lose all your fund. But I wonder... It's not better to offer a good product and then get a lot of satisfied users?
I'm sure too. The club is open now... Maybe all of us can achieve that zulutrade desapear as they did with our money.
Hey ES, thank you for your thoughts! I agree with you and at the same time I disagree I love automated trading and I love manual trading, both is fun (if the return is right). I have an EA and I have my manual positions as well. Be hybrid.
Be very careful when you use such presumptions like "all". It is true that if you are using a "black-box" EA that you have no idea how it truly works, then you are destined to fail. But it wasn't the EA that failed. It is the user's ignorance as to how the EA is supposed to function. The EA only does what it is told. Think about everything that "works" consistently in your life: your car, fridge, stove, heater and other appliances; the ocean and even your own body. What do they all have in common? They all are completely transparent and they work over and over again in exactly the same way: put repetition in action. Why would trading be any different? There is no secret to find, the truth about price action is right in front of you. It really has nothing to do with charts. it's really a numbers game and you have to manipulate numbers to your advantage. This does not require "deep" mathematical concepts. It may require logic and attention to detail. I found that cost averaging works out well in just about any market. Combined with compounding, it makes for quite a sensible strategy to continuously extract profits from the market. Would I sell it? Why not? All the stuff that you own now that you use most often....didn't you pay for those items? Most people are so far removed from awareness, that life's most simple truths are right in front of them but they look the other way. We get what we ask for; we pick our teachers and our leaders. We hold ourselves hostage with the thinking that it is never possible. Practice and repetition makes the master.
Agree upon being hybrid. Both have the advantages and disadvantages. So why not use both? Double the trouble? No. We are doubling the money.