Thread: do expert advisors really work

Originally Posted by ;

Humans have vastly superior analysis abilities -- quite critical for entry setups.

A robot will probably always be more educated than a human -- perfect for exits. Neglect and Establish; walk away and revel in your leisure. Remove MM and plogy in the equation.

Use each source to its greatest possible advantage.

Do you understand such EA? One that handle exit because this is killing me all the time (many trade close at BE because I can't manage them because of work). Beside using trailing EA (I know some of these ), is there an great exit EA accessible?

You may freely find EA's to handle your trade, however you still will need to tell it what to do. Notification what to do is dependent on the style of trading that you are using.

There was just one EA I came across that you can set to scaleout at pre-defined profit targets, to move your stop at various increments and also trail. I'm positive if you do a fast search on the forum you will discover it.

My expertise of monitoring stops is that they are a bad way to manage transactions, they might have merit if you would like to trade the news, or fast moving markets, but other than that would remain away.

My style of trading heard over several years and getting stopped out just to see my prediction continue, is to leave plenty of room for the trade to breathe. Many people practise monitoring stops using the pivots formed, this in my view is superior to several other egies, but have not come across an EA that does it, although not hard to programme. Having said that, if you are a trend trader, I would rather not move the stop before many factors that indie you have gone beyond crucial confluent points (fib, SR, double 00, pivots etc) have been confirmed. This is the best method, but no EA that I know of can do that - I'd pay decent money for something like that!

Now, what you are asking is fairly much a conundrum. When there was a great EA to handle your exit,then, by default it would be used as an EA to enter the market randomly and because it had been so very good at exiting, it would turn any trade profitable. I believe maybe you might have taken a previous comment in the wrong context. Sure, the individual can pick the method for a EA to exit but if you are not disciplined as a trader you will just go and tinker with it anyway. How often have you moved your stop wider and wider.

What I am attempting to say is, EA's have to be operated by people, they are resources to enable us to do repetative and brainless jobs. The EA's achievement is therefore part of the ability of the human anatomy. When the individual has a problem with their capacity to maintain discipline and react to emotions afterward the ideal EA on earth will not help.

A bad workman blames his tools, a bad trader looks for tools to attribute, 1st learn to trade, then search for tools to help make trading easier.

Again, do not want to upset anyone, just trying to help everybody understand, particularly the newbies to this match the drawbacks so many fall into.

Have you really looked at this ea https://www.nigeriaforextrading.com/...s-journal.html
If not I recommend you do.

Regards,
Jeff

Originally Posted by ;

You can freely find EA's to manage your transaction, however you still will need to let you know what to do. Notification what to do is determined by the manner of trading that you are using.

There was just one EA I came across that you can set to scaleout at pre-defined profit targets, to move your stop in different increments and trail. I'm positive if you do a quick search on the forum you may discover it.

My experience of trailing stops is that they are a bad way to manage trades, they may have virtue if you would like to exchange the news, or fast moving markets, however other...

Originally Posted by ;

Have you looked at this ea https://www.nigeriaforextrading.com/...art-store.html
If not I suggest you do.

Regards,
Jeff

Do you know anybody publish any transactions in mt4stats for the ea you cite. Just curious to know.

I believe something has been submitted by people about that at the thread. You should go through the thread and if you are interested in the ea place it on a demo and check it out. If anybody has any queries on it they need to make a place in that thread.

Regards,
Jeff

Originally Posted by ;

Do you know anybody print any trades at mt4stats for the ea you cite. Just interested to know.

Dear all Senior member,

I'm a newbie in EA and have tried to build my own using available template at some internet. I backtested with 6 weeks history information (Jan - June 2009) and the result is roughly 15% each month (monthly is different, sometimes 25 percent but other month -8 percent, so forth )
So I need your suggestion about this return... I'm not so satisfied and need to improve like fit Max Consecutive Loss. . Might it be possible?
Thanks Bro. .

@D8d3: Sorry, I am not able to take on any new work right now. There are a number of developers who post at FF that could help. There are a couple of threads like I'll code your orders at no cost. You might like to try sending one of them a Personal Message.

@Melpheos: I am gradually automating my trading system, expecially the exits. It's very much a work in progress. Here are two trade direction EAs that I am aware of, however I haven't tried either of them.
Https://www.nigeriaforextrading.com/...s-signals.html
https://www.nigeriaforextrading.com/...-happened.html

@Happyaslarry: I could relate to much of what you say. If TA can offer an edge with entrances, then technical exits should possibly do likewise, because the market (except possibly for broker manipulation) cares little for whether I am entering or exiting. I haven't been able to calculate/establish a mathematical edge with fixed (TP/SL) type, i.e. non invasive, exits. IMO win rate and RR operate in approximately inverse proportion to one another. I am unaware of an EA that specifically uses technical (e.g. S/R, pivots, 00 kind ) exits.

I don't find discipline too much of a problem (particularly as I am trading mainly in demo, LOL). If one TP/trailing stop works approximately as well as any other, then I am happy to just place the commerce and walk off, come what might. Using relative currency strength and multi-time-frame analysis as part of my entrance egy makes automating it a significant task. And it is a work in progress, I'm still very much learning.

Hi Balada,

I'm not a senior member, but maybe I can offer some advice whilst sat here waiting for todays trading opportunities.

The concept of max loss is fairly simple in terms of coding and hats off to you for building your skills and learning to code, maintain at it and every day you will learn new things.

Prior to going down the path of excitement concerning the results look closely at what you have created, particularly important is the style of EA you have created. For example, if it's a scalper, choosing trades for not many pips, then please be sure you have considered the backtest effects with an opinion to disperse and slippage as these exist in the actual world. A fantastic many people new to backtesting overlook this, consider me that in the majority of instances their hopes are dashed against the wall once the reality is observable when forward testing.


Another area to consider too, is to look at how you may have filtered your transactions - often the best of people fall into the trap of over optimising and ending up having a curve fitted EA. That is a trick of all the scammers selling their glitzy Robots.

Now, I'm a Tradestation programmer so can't offer advice on your individual coding difficulty, nor is this thread regarding coding. There are many threads on here that will have the ability to actually help you along with a very simple search will supply you with the place to find it.

I hope this was of some use - joyful programming...

Originally Posted by ;

It is possible to freely find EA's to handle your own transaction, however you still need to let you know what to do. Telling it what to do would be determined by the manner of trading that you're using.

There was just one EA I came across that you could set to scaleout at pre-defined profit targets, to move your stop in different increments and trail. I am positive if you really do a fast search on the forum you will discover it.

My experience of trailing stops is that they are a poor way to manage trades, they might have virtue if you want to trade the news, or fast moving markets, however additional...

I perfectly get your stage

Originally Posted by ;

@D8d3: Sorry, I am not able to take on any new job at the moment. There are a number of developers who place at FF that could provide help. There are a few threads like your requests will be coded by me for free. You may prefer to try sending one of them a Personal Message.

@Melpheos: I am gradually automating my trading method, expecially the exits. It is very much a work in progress. Listed below are two trade management EAs that I am aware of, however I haven't tried either of them.
Https://www.nigeriaforextrading.com/...ades-week.html
https://www.nigeriaforextrading.com/...-happened.html

@Happyaslarry: I could relate to much of what you say. If TA can offer an edge with entrances, then specialized exits should possibly do likewise, as the market (except possibly for broker manipulation) cares little to whether I am entering or exiting. I haven't been able to calculate/establish a mathematical edge with fixed (TP/SL) type, i.e. non invasive, exits. IMO win rate and RR operate in roughly inverse proportion to each other. I am unaware of an EA that specifically uses technical (e.g. S/R, pivots, 00 kind ) exits.

I don't find discipline too much of a problem (especially as I am trading mainly in demo, LOL). If one TP/trailing stop works about as well as any other, and then I am pleased to just place the trade and walk off, come what might. Using relative currency strength and multi-time-frame analysis as part of my entrance egy makes automating it a significant task. And it's a work in progress, I'm still very much learning.

Thank you for pointing the multi purpose EA (I allready knew the Manage Take Profit) I will take a look in to it.