Not all EAs on the MQL market are scams. But one should always do a lot of testing in the strategy tester to understand the strategy the EA is using before buying. And of course it is helpful to have a live signal that has been running for at least a few months.
A few yrs ago when I was beginning my trading journey, I bought an EA there ... But luckily I only used it on a demo account for a short while, until I found out how bad it was ... It was not so expensive, and I count it as a learning cost 🙃🙃 I fully agree with you, better make my own EA's, hense I'm learning MQL5 now with help from your vidoes 🙂🙂
Hi there, I subscribed, like your channel content a lot, most UA-camrs who know a thing or 2 abt algo trading, are taking advantage of us newbees.... Just like when you start your manual trading career. I know manual trading but not much about Algorithmic trading. But I can already tell that you seem to be one of the few honest guys. Now to the topic : from my own experience on the MQl5 market I can tell you that most Ea's are offered by people who don't know a thing about trading and falsify results.....and us we fall for it....i am at a junction where I now don't know anym whether I should even purchase any Bot offered on the internet. It's sad but true.
Thanks for your video and your opinion. I really like your honesty. Personally, I hate 'black box' EAs that don't reveal how they trade and I've been conned by quite a few of these before. They may work well, in the beginning, but then fail after a while. Seems to be the common trend in these commercial EAs sold in the MQL5 market. I don't know how some people are willing to part with thousands of dollars for these kinds of EAs. That's why I'm learning how to code in mql and your videos are the best as you are a stickler for detail and your code and style is clean and comprehensible. Thanks for your time in producing these videos.
The biggest problem is that many people do not know how to evaluate an EA before buying it. The majority attach importance only to the equity curve . However, having made 200% gain by trading manually for 1,5 year, I did not get a perfect curve. I even know some who double their accounts over the long term without having a perfect curve. In short people are greedy and programmers offer them what they are looking for
You are completely right: these EAs can make rich.. but only those who sell them. I bought three EAs on that website, 2 not so famous ("low cost") ones, 1 "famous" ("high cost"). I will never buy again an EA from this website. Therefor I started programming and watch your (and other) channels. Create own strategy and systems, as you said!
Danke für den Content. Eine Frage zu dem Grit System, das viele nutzen. Lange dachte ich das sei nicht seriös, bis ich ein video von Richard Brown (responsible Trading) gesehen habe. Er sieht ein grid system als felxiblen stopp loss. Natürlich nur ein leichtes System, dass nach max. 15% draw down die Positionen schliesst: sprich, man trägt das max. Risiko 15% zu verlieren. Dem steht gegenüber, dass das System längere Zeit nur Gewinne produziert. Also denke ich kir, für Systeme, welche 4 oder 5% nonatlich abwerfen kann es ja nicht so gefährlich sein...Was denkst du?
Wenn es irgendwann einen Punkt gibt, bei welchem der Verlust realisiert wird (SL auf jede Position oder auch ein SL für das gesamte Grid) dann ist das denke ich völlig legitim. Was ich nicht machen würde ist ein "unendliches" Grid oder ähnliches. Auch gibt es beim Backtesten einiges zu beachten. Ein "Paket" and Trades sollte als ein Trade angesehen werden. Auch ist eine hohe Gewinnrate möglich. Jedoch sind der durchschnittliche Verlust/Gewinn auch direkt von dieser Gewinnrate abhängig. Ich habe es nicht so gerne, wenn die Gewinnrate in die Extremen geht. Sprich über 80% oder weniger als 20%. Dann ist der durchschnittliche Verlust zum durchschnittlichen Gewinn sehr unterschiedlich. Dadurch ist eine Überoptimierung hin zu einer "perfekten" Equitykurve sehr einfach möglich.
Can you make a Mql5 tutorial for different entry techniques. For example "enter short at close of last bars if last bar is red and place SL at high of last three bars" or "place a sell stop 2pip below low last red candle with SL at 2pip above high of Last bar" i hope you get my point. These entry techniques can be useful for multiple strategies.
also, there are scam EAs that use a history reader function for backtesting, showing a winrate above 90% / perfect curve. testing those on demo fails most of the time.
Hello thank you so much for the info I request you to some lessons on programming an EA, for trading inside bars and engulfing candle based on support and resistance level, with trailing stops, SL and TP, I will be grateful for you quick response
Have you ever bought an EA there? What is your opinion about this topic? 🙂
Not all EAs on the MQL market are scams. But one should always do a lot of testing in the strategy tester to understand the strategy the EA is using before buying. And of course it is helpful to have a live signal that has been running for at least a few months.
Bro will you tell me which bot is suitable for prop frim
A few yrs ago when I was beginning my trading journey, I bought an EA there ... But luckily I only used it on a demo account for a short while, until I found out how bad it was ... It was not so expensive, and I count it as a learning cost 🙃🙃 I fully agree with you, better make my own EA's, hense I'm learning MQL5 now with help from your vidoes 🙂🙂
Hi there, I subscribed, like your channel content a lot, most UA-camrs who know a thing or 2 abt algo trading, are taking advantage of us newbees.... Just like when you start your manual trading career. I know manual trading but not much about Algorithmic trading. But I can already tell that you seem to be one of the few honest guys. Now to the topic : from my own experience on the MQl5 market I can tell you that most Ea's are offered by people who don't know a thing about trading and falsify results.....and us we fall for it....i am at a junction where I now don't know anym whether I should even purchase any Bot offered on the internet. It's sad but true.
Thanks for your video and your opinion. I really like your honesty. Personally, I hate 'black box' EAs that don't reveal how they trade and I've been conned by quite a few of these before. They may work well, in the beginning, but then fail after a while. Seems to be the common trend in these commercial EAs sold in the MQL5 market. I don't know how some people are willing to part with thousands of dollars for these kinds of EAs. That's why I'm learning how to code in mql and your videos are the best as you are a stickler for detail and your code and style is clean and comprehensible. Thanks for your time in producing these videos.
I agree 100% with your view of the EA's that are available.
The biggest problem is that many people do not know how to evaluate an EA before buying it. The majority attach importance only to the equity curve . However, having made 200% gain by trading manually for 1,5 year, I did not get a perfect curve. I even know some who double their accounts over the long term without having a perfect curve. In short people are greedy and programmers offer them what they are looking for
Wise words!
You are completely right: these EAs can make rich.. but only those who sell them. I bought three EAs on that website, 2 not so famous ("low cost") ones, 1 "famous" ("high cost"). I will never buy again an EA from this website. Therefor I started programming and watch your (and other) channels. Create own strategy and systems, as you said!
Nice to hear, keep it up!
Danke für den Content. Eine Frage zu dem Grit System, das viele nutzen. Lange dachte ich das sei nicht seriös, bis ich ein video von Richard Brown (responsible Trading) gesehen habe. Er sieht ein grid system als felxiblen stopp loss. Natürlich nur ein leichtes System, dass nach max. 15% draw down die Positionen schliesst: sprich, man trägt das max. Risiko 15% zu verlieren. Dem steht gegenüber, dass das System längere Zeit nur Gewinne produziert. Also denke ich kir, für Systeme, welche 4 oder 5% nonatlich abwerfen kann es ja nicht so gefährlich sein...Was denkst du?
Wenn es irgendwann einen Punkt gibt, bei welchem der Verlust realisiert wird (SL auf jede Position oder auch ein SL für das gesamte Grid) dann ist das denke ich völlig legitim. Was ich nicht machen würde ist ein "unendliches" Grid oder ähnliches. Auch gibt es beim Backtesten einiges zu beachten. Ein "Paket" and Trades sollte als ein Trade angesehen werden. Auch ist eine hohe Gewinnrate möglich. Jedoch sind der durchschnittliche Verlust/Gewinn auch direkt von dieser Gewinnrate abhängig. Ich habe es nicht so gerne, wenn die Gewinnrate in die Extremen geht. Sprich über 80% oder weniger als 20%. Dann ist der durchschnittliche Verlust zum durchschnittlichen Gewinn sehr unterschiedlich. Dadurch ist eine Überoptimierung hin zu einer "perfekten" Equitykurve sehr einfach möglich.
Tobi, these are useful and important information to consider. And no, you are not crazy, but in this field and cautious. Thank you!
thanks 😉
Particularly in the trading sector there are many questionable offers.
Oh and are you from germany?
@@trustfultrading „Wo ein Trog ist, da kommen die Schweine.“ sagt man bei uns... ;)
Thank you very much for your excellent contribution!
Can you make a Mql5 tutorial for different entry techniques. For example "enter short at close of last bars if last bar is red and place SL at high of last three bars" or "place a sell stop 2pip below low last red candle with SL at 2pip above high of Last bar" i hope you get my point. These entry techniques can be useful for multiple strategies.
I will make a video about bar patterns soon, maybe thats helpful for you.
also, there are scam EAs that use a history reader function for backtesting, showing a winrate above 90% / perfect curve. testing those on demo fails most of the time.
Nice video .wonder if u can help me to get rid of warning that coming from journal tab when the EA run on strategy tester.
Thanks, which EA?
My own EA
@@ForextraderEAnow What is the message?
TestGenerator unmatched data errors
But at the same time it working.
Anybody has any experience with Darwin MT5 EA, please let me know...
Hello thank you so much for the info
I request you to some lessons on programming an EA, for trading inside bars and engulfing candle based on support and resistance level, with trailing stops, SL and TP, I will be grateful for you quick response
Thanks, I will make a video about different candle patterns in the future!
Totally. i did and i will never. If an EA is powerful as shown, just nobody would go sell it for a living.
Yeah...
Nice stuff 🥂
Cool wie immer :)
Danke, schönen Sonntag 👌
Tobi wechseln server benutzt du?
HostEurope aber Contabo ist auch top! Gibt aber auch viele weitere Anbieter.
Danke 👍🏿
considered to buy the EA scalping project, because the guy made some videos and seems to be quit honorable, but after this video I won`t
I know its from Rene ;) I mean the EA is not bad, but I don't think it will work in the live market. Its always better to create your own. 👌
Why would someone sell a good EA? Maybe for extra income, but they keep their best performing EA
That could be a reason yes.