This will be my diary of sorts of my adventures in Automated Forex Trading. I have three distinct Projects.
My Own Expert Advisor Development
I have paid a professional in the past to develop an EA for me and she was very good. However, right now I’m doing really basic programming using fxDreema. I don’t plan on trying to get deep into this but it’s fine for testing some very basic ideas. If I think I’m on to something I will pay to have it coded. I’m also not against either selling an EA I develop or renting the SIGNAL it produces.
Using Other peoples EA’s (free or paid)
There are plenty of EA’s available for free to thousands of dollars. I have no intention of paying thousands but I am willing to pay a few hundred if the program has excellent reviews and a longish track record.
Signal Providers
I find this particularly interesting as I like the idea of somebody else trading using their own EA’s or styles. I don’t care whether they trade manually or automatically. Although I presume that paid signal providers are the way to go I’m not against trying free providers also as they are often trying to establish themselves so they can start charging for the service in the future.
My procedure for items two and three is pretty simple.
- Paid or Free I test them on a DEMO account for 30 days to get an idea about how their trading and of course see if they make money.
- If they are impressive I will test them on a very small PAID account for another 60 days and evaluate.
- Finally, if they get to this level I will look at using them on a larger account.
So far one EA has moved from DEMO to small PAID and that’s a free News EA from a trader at FF.
To view, the latest on my trading accounts view this post category.