Сommunication looking for a profitable system/methodology

I have been wondering the same as I see new GB's daily. What I have learned is that is the majority hopes to find the holy grail of an EA that makes money for them. Of course, who can blame them, it would be great, but you will never find one publicly available that is not only profitable, but consistent. Consistent with more than a few months "backtesting".

As far as the types of courses, I would love to find a solid, easy scalping method that is consistent with at least 1:2 RR ratio while I take time learning in-depth market structure courses. I see a lot of scalping methods but none that have shown they are even legit. Hopefully someone can comment on this post that can vouch for a solid scalping system.

 

I actually work in an HFT prop firm and given that I know the kind of infra and processes it takes to make something that actually makes money, I can safely say that all of the bots/EAs being sold are fake and will not make any money in the long run.

The other thing you have to keep in mind is that if anyone actually has a bot that makes money, he WOULD NEVER SELL IT TO ANYONE. I mean, why would you give away your edge to someone else?
Conclusion: they only make money off the sale of the bot, and not from the bot's strategy.

If you want any possibility of success in this market go for courses that teach you how to build those systems yourself.
And given that you're a retail trader, the only strategy in which you can hope to make money is called "market taking".
Market making, for example, would be hard to do at home since prop firms have very low fees compared to retail, which would make trades that are profitable for them unprofitable for you.

 

To give a further example. If I were to take the strategy we run in the prop firm and run in at home as-is with a retail account, it would not make any money.

 

^ The above was a making strategy. To give another example -- there are taking strategies that *you could* run at home that would make money .

 

I would suggest to focus on manual trading, i have been profitable like that and I am still on lookout for good EA. Everytime i think i found good EA i get disappointed by fake results.

 

You won't find a good one, anyone who has a good one would be dumb to actually sell it.

 

should that not count for strategies as well than. all the course that are being sold with a profitable strategy. why would they sell their edge than.

 

Absolutely!
This is why I only buy abstract courses that teach techniques and not specific strategies.

 

I appreaciate your opinion. But I can not agree. I own working EAs with more then 12 month consistent profit(own live account). Maybe you have another definition of consistens and we have just a misunderstood. I dont know.

 

Same here. I run 4 experts live all from here on very low settings. They only make around $80 per week but with lowest lotsizes. Risk free pocket money

 

Would you guys like to share with us what EA are u using? We would like to have more info

 

If you've made more money, after fees & taxes compared to buying & holding the S&P500 then, yeah, that would be a good deal.

 

I would like to disagree. I haveran an EA successfully for more than six months but it requires manual intervention at some point (turning it off during the news sometimes). But there are some which I have seen on verified myfxbook run for almost six years. For instance, the smart machine which I have ran for the six months has also been ran by someone for more than five years in a row. Check the link here https://www.myfxbook.com/members/TTINVESTMENT/ea-smart-machine/6421125. There so many EA's on myfxbook which has been run for at least three years or more. But I agree, no EA can be handsfree. You need to intervene at some point.

 

That's a basic martingale strategy, you are bound to blow up your account since you don't have infinite money. My bet is that the Russian broker is helping cook the numbers here.
Apparently there are all kinds of ways to fake results on myfxbook, for example:

• https://www.forexfactory.com/thread/588456-be-cautious-of-myfxbook-stats-they-can-be
  
• https://thirdbrain.ch/myfxbook-can-be-cheated/
  
• https://blog.forexsignals.com/2017/09/5-best-forex-scams/

Heck, there's a user on this forum that plainly said what this is: https://clubbingbuy.com/threads/smart-machine-v3-4-ea-mq4.9796/#post-234481

This is not a how a proper automated trading system is supposed to work.

 

I have used it for six month and not blown it. Trick is to use cents accounts. Also keep in mind that the EA is no longer for sale. So the broker has no motive to help them cook the numbers. I also know someone who has run waka waka EA (another martingale) successfully for one year and still in profits.

 

And yes myfxbooked can be scammed but I know people who are running legit accounts for a year. One is running vertex EA (another martingale0 and makes regular updates. I will find link and share.

 

Hi @MikeFX would you be able to share what are those EAs ?

 

I can share some mines in exchange and share my results with you if you want (I run around 20 now with my own infra and it has been profitable for me even after cost of buying own infra)

 

anyway sufficient if you just follow topics that I am upping every week