Finding Good EA

Robot (expert advisor) is a manual trading strategy that is being programmed into automated. It is not a holy grail that can think, decide, intreprete like human being (at least until this article is written). Mostly, many people who are new to automated trading don’t know what Expert Advisor really is. They think that Expert Advisor will make profitable tradings easily. In fact, a lot of Expert Advisors don’t make profit, they even make a huge loss or margin call. But sometimes, know too much will limit us from finding a profitable EA, too. Simple and easy strategy can be profitable if we know how to combine and optimize it. This is an art to finding profitable Expert Advisors.

Selecting a profitable Expert Advisor needs patience and hard work, sometimes money, too. By collecting as many information from an Expert Advisor, we may know what its strategy and risk that can be happened. But not all Expert Advisor’s author would share his strategy because it can be copied by others. So, sometimes we can only stick at the backtest result or if there is a live result, it is better. Not all EA sellers are good. Sometimes they are cheaters, too. So, before buying any EA, you should check wheter the seller fullfil these requirements below :

• Gives High Quality Backtesting Result and/or Livetest Result for a certain period
• Provide Supporting Ticket
• Has Money Back Guarantee
• Payment Processing is Handled by Third Party Processor
• Free Update for Existing Customer

How about choosing the Expert Advisor itself? Well, since the main strategy from an EA belongs to the author and rarely being shared with others, there are few things that we can use for buying instruction.

• Main Strategy of the EA (martingale,hedging,scalping,etc)
• Type of StopLoss (dynamic or fixed)
• Maximum Drawdown (value from the backtest result)
• Profit Factor
• Ability to Trade Micro Lot
• Trade at High Time Frame (result will be less different from other broker)

Well, I think everything in this world are going to be automated even trading forex, too. So, preparing and trying automated trading is not bad at all. Let’s find the EA!