Excuse me. Does someone realize how to choose true Forex EA from fake and a real Forex signals from fraudule?

5 Comments

• ray_kirmann says:

  June 6, 2010 at 7:38 PM

  you shouldn’t follow anyones recommendation on a single forex EA. Over 90% of the commercial EAs simply do not work even if the back tests look good. There is a community site (forexpeacearmy.com) that rates all major forex signal and EA sites, read the reviews because their testing results might not go together. Before you buy any EA do some research on forums then you save some time testing because others have been trying them out long time ago. If you find something that might be buying, do some back tests on different times and market conditions, then do some forward testing on a demo account and if that yields good results after a good period, then you can try it out on a live account. And dont forget money management! its always the most important aspect of trading. Trade with a very small portion of your capital. That would be about the safest way to with commercial EAs

  Another option is to get reliable EAs totally free. Find out the best Forex Forums, they are full with professionals and coders work together producing and improving each others EAs, brilliant ideas and updates for the best EAs I personally have ever seen with ongoing everyday testing and postings of their results on the threads.
• kingrich316 says:

  June 6, 2010 at 8:32 PM

  Use Metatrader 4 which is free and then try out an EA like Forex Money Train that has a good trial offer. It works really well.

  http://automatedforexplatform.com
• Joseph says:

  June 6, 2010 at 8:34 PM

  The only way to find some real effective forex EAs is by testing yourself, there some experts reviews of the most popular forex robots and these reviews can make you focus on the best.

  Popular EAs or as called forex robots are the good to start with and maybe the only good ones.

  U cannot know who is really giving you the best, or trying to sell you his own software.

  I have tested 3 myself
• RFITZ2010 says:

  June 6, 2010 at 8:55 PM

  The only way is if you sit on top of the trade and watch in real time those signals. You will not find an EA for a few hundred dollars that is profitable long term. You are best off learning your own trading style and developing your own trading plan. Why would you spend time marketing a EA or robot, that was profitable. You wouldn’t you be too busy trading it.
  Check the websites mentioned, also forex forums, forexfactory, trade2win etc. Also ask the 10 questions listed here. http://www.wheresmystop.com/Forex-Trading-Systems-Robots.html

  1) Whats your refund rate? Major question! What are refund terms 30 days, 60 days? You reckon you will know how successful a robot is after 30 days?
  2) What brokers, if any, allow use of said automated robots? Some Brokers won’t, some platforms can’t.
  3) What markets does it trade and time frames involved?
  4) Profit history – Is this Hypothetical, Simulated over what time period months, years? Trending markets, ranging markets?
  5) Small print small print small print ‘Past performance does not mean’ etc
  6) Is it bait and run? i.e ‘limited number’ once sold, sellers gone..
  7) Support Technical help etc

  Good luck.
• FxGuru says:

  June 6, 2010 at 9:21 PM

  My advice is: forget EAs, learn and use indicators