Best Free EA?
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Thread: Best Free EA?

  1. #1
    I am completely new to the world of EAs, therefore I'd like to test out a free one on demonion before I even consider spending more on one. So what is your favorite EA that is free?

  2. #2
    Quote Originally Posted by ;
    I am completely new to the world of EAs, therefore I'd love to test a free one on demonion before I even think about spending money on one. So what is your free EA?
    I wasted a lot of money buying vended EAs when I was a newbieback in 2006/7. In every case, the one person who profited was that the vendor, in the sense he got my payment.

    A really profitable EA is absolute gold. Any EA that offers some guarantee of profit, across all potential future market conditions, probably has many years of research, blood and sweat poured into it. It is very unlikely that anyone will share his golden goose, free of charge, on a forum such as this one.

    Here are some EAs my programmer/trader buddy wrote last year, and backtested them years worth of premium quality information. If you browse through the thread, you will see that the amount of research he put to them was enormous. And these are mere backtests, there's no complete guarantee of profit moving forward.

    Here's a that's worth reading IMHO #8212; an EA developed by a few specialist traders who made 1,000percent in its first year of live trading, and then imploded.

    An skilled human trader will always make more intelligent trading decisions than even the most sophistied EA. That's obvious, because to construct the logic that goes into the EA, the trader has to be profitable first.

    There are some fantastic semi-automated systems, e.g. where the trader transforms the EA off whenever market conditions are adverse; or conducts the EA only on pairs that are currently most volatile, or strongest trending; or the EA alerts the trader to potential installments, and manual intervention is required; or where the EA only oversees open trades.

    Therefore, for whatever my opinion is worthwhile, you will save yourself time, money and likely some fruion, by averting EAs, at least in the first case.

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