[PipCop]

Originally Posted by mitaji

Ive really been thinking about these EAs. I'm begining to see the light. There is a cult-like mentality with those of us that follow these EAs. Lets step out of the box and think for a minute.Ask yourself the following questions:-

• If I had a system that is going to break 1000% a year, why would I sell it? especially when in 1yr...I can make a cool million for every 1k in my account.

Possible answer: I'm full of sh**.The system will never make these kind of returns but as long as I make you believe it can, more money for me.

• Which brings me to my second point.If the EA is so accurate/profitable why am I posting back-tested results?Why don't I have Live results?

Possible answers:
You guys must be nuts, if you think we are going to risk any of our money on this.
My EA is far from perfect. A live account statement will not look anything as good as the backtest.

• How can I sell the most copies in the shortest time possible??

Possible answer:
Hype up the launch of the EA. "Limited no. only!!!"...... "Price to go up after x units are sold"......"Hurry! while stocks last!!!" etc etc

• Incase sh** happens?

Possible answer:
Well......in terms of cash I'll have lost nothing or very little.
Anyway.....you cant get to me, I'm registered in the republic of taxhavenonextradition...

Enough of that. This is my point... none of these EAs have worked as well as they are marketed. What these guys are selling you is a 'Dream' and we are too blind/stupid not to ask the right questions. The key weakness about EAs/robots is that they cant think!!Therefore, without discretion they are bound to fail sooner or later. If you are using these EAs, use money that you can afford to loose. Open a small account (not more than $300) then grow it if you can. Your risk will always be $300 that is if you are profitable.Guys, there are no short cuts to riches, so quit thinking about 'making money while you sleep' and try to be a better trader.

I totally agree. However, the one think I think you forgot is that some people like tha allure of robots that can (a) trade 24x7 and (b) trade without them having to learn anything. Does that make them better? Nope, I still mostly agree with what you say.

Obviously I started this site to put robots to the test, and so far most have failed miserably. I hope that by holding robots to a new standard by forward testing them, all authors will take their work more seriously and produce better robots with better long term testing before releasing them to the public.