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1. An EA is a robot. Robots do what we program them to do. Apart from bugs or malfunctions they do not make psychological mistakes like us.
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But they often make technical mistakes due to the limitations of their programs and the limitations of mechanical trading in general
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4. Simple answers to simple questions:
• “Why did the EA exit here instead of here?” Because it did.
• “Why did it not enter here?” Because it didn’t.
*Refer to point No.1
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Theres a bit more to it than because. You can trade a mechanical program simply based on its expectancy, but its helpful to know why it does what it does,
especialy if you plan on working with it.
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5. All good trading systems will have losses. Its the monthly statement that counts. Anything claiming no losses is not worth your money. The same goes with EAs.
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Anything claiming no losses surely raises questions, but this does not mean it is worthless, only that its claims are exagerated. Arent they all. Value is something that needs to be determined, and not assumed.
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6. Do not decompile EAs if you cannot afford them. Sooner or later you will lose money. Without updates and support, that EA will bulk on you. Besides only the proprietor knows what the EA truly does.
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Do anything you wish, but try to stay legal and not infringe on anouthers copyrights. Sooner or later we all lose money, but without knowledge we will never know why. Reading and understanding what others have writen is a great way to learn. Simply decompiling a commercial EA to study it and learn from it is harmless enough, its what you do with it after that.