Which EAs will work on a live account?
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Thread: Which EAs will work on a live account?

  1. #1
    Hello buddy
    I'm new in forex. Please can you tell me that EA will run on live account and which you will not work? The way to know that?

    Thanks...

  2. #2
    **graps beer popcorn subscribes**

  3. #3

  4. #4
    Quote Originally Posted by ;
    Hi friend I am new in forex. Please can you inform me that EA will run on live account and one won't work? How to know that? Thank you...
    Truthfully, as advised, visit babypips.com to do some homework. Then come back, try out a couple of ea's, or better, create yourself, find out by trading a demo account, burn some bankaccounts. Use only money you can afford to lose. Rinse and repeat. Only the strong survive. I wish you great fortune.

    Btw, I am still demoing since 10 years and havent got a clue (perhaps also because I am a slow learner). Hope this helps.

  5. #5
    I can tell you, forget the commercial EAs!!

    You will discover a lot on the internet, also on ranking sites. They are more or less crap.
    I purchased a lot of commercial EAs in the very last years, thinking that the more expensive, the better they are.
    And since they had a great history on myfxbook.
    That I payed them between $250 and $700

    I turned off them, since they burnt my account (martingale) or because they were not profitable in extended term.

    Its easy: If you had a very good EA, making good profits and not beeing too risky, do you sell it for a few $, make big, professional advertising sites, do the online support for several unexperienced and miserable men and women??
    That I wouldnt.

    Learn how to exchange and if you want, code your own EAs, this is the only means.
    Nobody and no EA will help you to make money.

  6. #6
    Quote Originally Posted by ;
    Hi friend I'm new in Currency Market. Can you tell me which EA will operate on live account and you won't work? How to know that? Thanks...
    Hello, the most important that you need to know is that trading all of trading egys can work, but the most difficult is the emotional side 70-80% belong to your own emotions.

    Because people hoe get a loose commerce attempt to loe somethink new, somethink better they dont loe and they frequently attempt to win with greater risk the loose from earlier and then you loose and you risk again more, that is the toughest part.

    In the event that you just use 1% risk for your trades and you let occasionally run a trade, you earn sometimes 100 or more pips with a trade and when you loose you only loose 50-100 pips then you have a fantastic risk reward ratio and you can make profits in long termn.

    But the new people in Currency Market always attempt to discover a egy which constantly works but which doesn't exist.

    If you want make a test have a coin in your hand and flip it and also go long or short depends on what the coin say, if he reveal you number or head, and use 50 pips stoploss and 100 - 200 Pips takeprofit and just 1% risk for this trade, it will be difficult to loose your account when you trade like that and you also earn more profits then you loose.

    So the best tipp for you is to learn why people loose, why the feelings and discipline is your problem and attempt to make that mistakes.

  7. #7
    Quote Originally Posted by ;
    Hi friend I'm new in Currency Market. Please can you tell me that EA will run on live account and which one will not work? The way to know that? Thanks...
    EAs are difficult to trust in case you are no programmer and moreover these EAs are designed to follow along with technical analysis in order that they are required to be tracked through news release. But you google the right EA which suits you the best. . !

  8. #8
    Quote Originally Posted by ;
    quote EAs are hard to trust in case you aren't any programmer and these EAs are designed to follow along with technical analysis in order that they are required to be monitored through news release. However, you better google the EA which suits you the very best. . !
    Entirely agree with the first sentence. I wouldn't recommend to a newcomer to start with using automated systems. First start with some manual trading, gain experience for how the FX market works, create your own trading style and risk parameters, and only then search the internet for an EA that is suiting your investment egy that the maximum. But, I wouldn't count on an EA.

  9. #9
    There's not any Ea which you set up and neglect. It all depends on the market position and exactly what the Ea is great at trading. Even if you find it works sometimes it needs to be always edited to this current situation, so basically in the event that you don't know what you are doing and the EA would not know either and get you into even more trouble. There are hundreds and hundreds of Eas here on the forum try them out on a demonion play with the setting and see if you discover something which may fit your trading style.

  10. #10
    Exactly, we must monitor those EA if we wish to go fully automated as EAs aren't a magic wand that can allow you to grow your cash. From time to time, we have to shut them down also during high volatile market circumstances or otherwise they could blow our accounts in no time.

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