Beware of Signal Services and EA bots etc...

[TraderDesk]

Hi, I thought I would make a little comment on all the so call signal providers, EA bots and magical black box systems that promise to make you money and are for sale, some extremely expensive.

My opinion is don't trust any marketing claims that they make. There are savvy marketers trying to sell dreams and newbie traders that fall for it, time after time....

Anyone that has a way to make money in the financial markets that involve actual trading will NOT sell it or the services. Only companies that are trying to accrue trading capital that are properly audit and regulated should be consider and even that is no guarantee of wise investment.

Best avenue for me was to learn through hard work and training then applying it to the real world of trading. No one else is going to hand it to me on a platter, silver or otherwise.

[Jemook]

Agree that 99% of the EA stuff on offer is junk. I do really like Milan from http://myliveaccount.com/ though. I think he's one of the rare gems that can actually perform in the long term. Slow and steady growth and sensible trading.

I personally would never put any real money with an EA of any kind. I'm as strict with that rule as my rule about not caring for fundamental news of any kind and only being a technical trader.

[TraderDesk]

Agree that 99% of the EA stuff on offer is junk. I do really like Milan from http://myliveaccount.com/ though. I think he's one of the rare gems that can actually perform in the long term. Slow and steady growth and sensible trading.

I took a look at his site and trading style. Strong marketing with a new trading account that has limited history. If he is a good trader long-term then he should look at putting together a business plan, starting a fund and populate it with capital from friends and family. Trade that and once he hit some milestones like 24 months of live trading history and legal framework to have informed investors then go big. At least that is what I would/am doing...

I personally would never put any real money with an EA of any kind. I'm as strict with that rule as my rule about not caring for fundamental news of any kind and only being a technical trader.

I totally agree. I have yet to see an EA make consistent money in all market conditions. Maybe if the EA is part of an AI or the market is being manipulated in some fashion you can make money this way but not in the league of retail trading.