[Johnnykanoo]

a lot of great discussion. I love it.

I know many people are torn about ea's are they good? do they suck? can they really make money?

For me I use ea's almost exclusively and I do so because it is impossible otherwise for me to participate in the forex market.

First truth I have discovered. ea's can't out trade humans, in terms of profitabilty, You take a seasoned veteran trader and pit him against a great ea for an extended period of time and the trader will be far better

Truth 2. Most traders are not profitable! lets be honest most people are marginal in there trading. There are very few of us who can call themselves consistantly profitable.

Truth 3. We can exploit ea's to make money as long as our expectations are in check and as long as we have a good strategy to do it.

For me I test, test, and test some more. Most ea's are junk and they go right in the trash. Every so often I find a jem and I hold onto it, but it is my experience that ea's do lose there profitability over time. There is that rare exception but overall ea's are good until there not good anymore.

The trick is to be on top of them. Right now I'm trading about 4 ea's live but I have at least that many being tested. If an ea has legs I run with it and when they start to lose I steady reduce my risk and if they are profitable then I increase risk. its a balance.

Also many people ask why would a developer sell his ea for a couple hundred bucks? To me the answer is simple. A well marketed expert advisor launch will earn anywhere from $3000- up to I don't know 100k or more. I mean what did fapturbo earn? The sky is the limit.

I don't have problems making developers rich if they are selling something that actually works. I can't stand deceptive marketing though and crap that isn't worth a dime.

But I look at the richest men/women in history and they all have one thing in common. Diversification. Why limit yourself to just trading? If you created an ea and it is a good performer why not earn and extra 10k or more??? You'd be crazy not to

Anyway if anyone wants to see some live testing check me out in the expert advisor section. One thing is for sure, I'll never bullsh** ya. I test real ea's on real accounts and I report the results. If an ea is decent I'll tell you, if it sucks I'll tell you.

The reason I even got involved in forum posting in the first place is to have somebody to talk to about forex. I tried talking to my wife that didn't go well :D I tried my friends but there not into it so you guys are my hope. I really love forex and I love the idea of being completely financially free.

Anyway you guys have a great weekend.
Thanks,
John