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Thread: Forex Expert Advisors - Living Up To The Hype?

  1. #1
    anujgoyal.1
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    Default Forex Expert Advisors - Living Up To The Hype?

    link http://ezinearticles.com/?Forex-Expe...ype?&id=843046


    As the Forex market gets more and more attention with the deficit of the dollar looming, so are the Expert Advisors that drive the more powerful players of the Forex game.

    Why do 90% of forex traders lose? Traders are humans and like all humans, we suffer from greed. Like all humans, in crucial moments (or market conditions) we lack confidence, we have fear of what might happen and most importantly, we are usually (90% of the time) - inconsistent.

    Taking this into consideration, 90% of traders WILL LOSE MONEY IN FOREX. They will consistantly give away their money to the other 10%. This, together with the illusion of becoming millionaires overnight trading some "guru's" trading system from an ebook, is what keeps the Forex market a great business for Forex brokers and the so called guru's.

    An Expert Advisor is a "robot". Robots beat humans at chess and they beat humans at trading. An EA robot will watch the market for you, placing trades under certain parameters (strategies), avoiding the fear, greed, lack of confidence and inconsistency which characterises most traders.

    The Expert Advisor has a plan. It sticks to it no matter what, no matter how ugly or uncertain the market looks. It has no greed and will be running 24 hours a day for you.

    Some quick highlights of the Kiss Trading System:

    * Requires no technical indicators


    * Uses a "Set and Forget" strategy to free up your time


    * Makes only 1 trade per day at the same exact time


    * Requires only 3 minutes per day (or less)


    * Is fully automated with a metatrader Expert Advisor (EA)


    * No losing month for over one year


    * Averages +75 to +150 pips per month


    * Average returns of 5-25% per month

    By Luis Aguirre

  2. #2
    Intraday Master hinomaru's Avatar
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    have u tested the EA?
    Sekalipun aku berjalan dalam lembah kekelaman, aku tidak takut bahaya, sebab Engkau besertaku. Gada-Mu dan tongkat-Mu, itulah yang menghibur aku.

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  3. #3
    anujgoyal.1
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    Default No i have not tested EA

    No, what is it can you explain me dear?

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    Director of FXOpen Aus FXOjafar's Avatar
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    Quote Originally Posted by anujgoyal.1 View Post
    No, what is it can you explain me dear?
    You posted it lol. Or are you just doing cut and paste spam in order to build up your post count? I would try and avoid doing that if I were you.
    Jafar Calley - Director
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  5. #5
    anujgoyal.1
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    Default

    ok . I was thinking that this is just requirement now i will be cautious and post only those things which i know better . Thanx for giving advice.

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    I think he is simply chasing $25 just like me LOL

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    Thanks poster,
    I have been trying to use robots, but theydon't work for me
    How can i make this work out?

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    There is only one way to use an EA.

    Use it on a "Risk Account" only. A Risk Account is one that has money on it that you can afford to lose because if you are using an EA, you will lose it eventually.

    The strategy you must remember is...

    1) Withdraw or transfer the initial capital asap for a restart later when the account wipes out.
    2) Withdraw some of the profits regularly

    Never put an EA on your main trading account. It will wipe it out eventually and never use it on the only money you have.

    I have watched several clients successfully using their EAs this way on FXFrench. Using an EA is an exercise in trade and money management. Also learn to turn it off several hours before a major news event.

    Hope that advice helps
    Jafar Calley - Director
    FXOpen AU Pty Ltd
    Level 26 • 1 Bligh Street
    Sydney NSW 2000
    Australia
    AFSL:412871 ABN:61 143 678 719
    http://www.fxopenaus.com

  9. #9
    anujgoyal.1
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    Default

    thanx for the information sir.

  10. #10
    Piplet
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    Forex-Expert-Advisors---Living-Up-To-The-Hype??

    Quote Originally Posted by anujgoyal.1 View Post
    link http://ezinearticles.com/?Forex-Expe...ype?&id=843046


    As the Forex market gets more and more attention with the deficit of the dollar looming, so are the Expert Advisors that drive the more powerful players of the Forex game.

    Why do 90% of forex traders lose? Traders are humans and like all humans, we suffer from greed. Like all humans, in crucial moments (or market conditions) we lack confidence, we have fear of what might happen and most importantly, we are usually (90% of the time) - inconsistent.

    Taking this into consideration, 90% of traders WILL LOSE MONEY IN FOREX. They will consistantly give away their money to the other 10%. This, together with the illusion of becoming millionaires overnight trading some "guru's" trading system from an ebook, is what keeps the Forex market a great business for Forex brokers and the so called guru's.

    An Expert Advisor is a "robot". Robots beat humans at chess and they beat humans at trading. An EA robot will watch the market for you, placing trades under certain parameters (strategies), avoiding the fear, greed, lack of confidence and inconsistency which characterises most traders.

    The Expert Advisor has a plan. It sticks to it no matter what, no matter how ugly or uncertain the market looks. It has no greed and will be running 24 hours a day for you.

    Some quick highlights of the Kiss Trading System:

    * Requires no technical indicators


    * Uses a "Set and Forget" strategy to free up your time


    * Makes only 1 trade per day at the same exact time


    * Requires only 3 minutes per day (or less)


    * Is fully automated with a metatrader Expert Advisor (EA)


    * No losing month for over one year


    * Averages +75 to +150 pips per month


    * Average returns of 5-25% per month

    By Luis Aguirre


    I don't really know what is EA. I do agree fully that 90% of the traders are losing money consistantly. I use a robotic trading system with zero emotion attached to it. My job is to place all the entries at the beginning of the day and delete all the unmatched entries and close out all open positions at the end of the day. Input the trading results into my mathematical model for further enhancement of my trading system. So far I achieve 62% gain over a period of 400 days.

    I really pity those who spent hours in front of the computer, suffering all kind of emotional stress and losing all their money at the end.

    Obviously there are better way of trading the fx market.

  11. #11
    Piplet adry.fx's Avatar
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    maybee u can find something useful here
    www.fictraders.com (free forex-index information and trading tools)
    www.fic-traders.com (managed account)
    www.fic-traders-networks.co.cc (all about trading in one site)
    www.fic-traders-ea.co.cc (fic traders expert advisor)
    www.ea-maker.blogspot.com (expert advisor creation service)

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    the problem with ea is that you need to turn on your pc for 24/7.

  13. #13
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    Default

    I personally do not like EA, Ideally do not have good experience with, its better if you yourself,choose a particular time to enter the trade, analyze the moves and then make a decision, rather than allowing a Robot to eat up your account.

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