I have noticed tho that cheap EAs don't work

[lusitano]

I have noticed tho that cheap EAs don't work. All the $97 ones, don't even waist your time.
I must have tested 20 or more EAs and most of the ones with the best marketing don't work.

[Ken Long]

Agreed, but some of the free ones work quite well. Especially, if you use them with a little discresion.

I was being a little general there. Even with the trading courses, some of the more expensive ones do try to give something for the money, but often its just extra hand holding, or hype. I find that I've gotten almost as much trading knowledge from reading blogs and articles. Some of the inexpensive courses though, offer an insight into how a specific individual uses a specific system. Although this is often repetative, I've found that it helps me to find like minded people, and to reinforce my own search for what works best for me. For example, theres a big difference between the type of trader who likes to trade pivot points, or the trader who trades chart patterns, or the trader who trades indicators. They're all technical, its just varieties of style, and finding ones own place and aptitudes in this game.

As far as the EA's though, I agree. The cheap ones I've tried are very hard to use. They're mostly black box systems, where you cant get at the code, and they dont have enough user parameters to make them very adjustable.
However, the free ones have full access to the code, which for me is a great learning experience, and many are very usable. Not usable in the way a premium EA is. I have yet to find one that holds up well in long backtesting. But used in a discresionary manner, as a managed robot, they can be great assistants. For example, even a very simple, moving average or stochastics based robot can be used well with a little guidance and managment as a manual trading aide. Often I like to look at the charts and find a trend or range to trade, and attach a robot to it with my trading parameters, and let it trade for a period of time, after which I usually come in and turn the robot off and set my own stops and targets to finish the session.

This is all new to me, so I'm developing and changing rapidly. Its only been a few weeks, but this already works better than any stock market trading I've ever done. In one day I can often make the same percentages that it would take me days or weeks to make manualy trading stocks or options, with a very controled risk and a lot less research.

[Ken Long]

Sorry, I was just following whats in front of me. I dont quite know my way around everywhere yet. Feel free to just move the posting over, that way it might continue there. Otherwise we'll probably just pick it up somewhere else when the impulse hits.

I just followed lusitano's posting over here from the Steinitz thread because he had mentioned other EA's he liked. Both of which are more expensive, but probably pretty good as well.

Yast77 mentioned the Ten Stoch Wave EA. This EA is interesting, as well the author has a rated list of EA's that might be worth checking out, http://www.tradingsystemforex.com/wh...%20advisor.htm.

[PipCop]

This thread has been moved over here.

[marlintrdg]

Over the past 4 years I have purchased dozens EA's for MT3 & MT4 also robots that worked with FXCM from $1.00 to $5,000+ not to mention 100's of free ones I've tested on VPS's.

To-Date not one has lasted more than 3 months, not one, but one day one might so I keep looking.

Luckily my E.O.D. from my old futures days from the late 80's has worked well on forex and is sill paying all the bills after all these years.. And yes I have made numerous, sometimes very expensive attempts to automate it, but no joy..