Holy Grail EA and is it really out there?
For many years I have been trying to find the holy grail EA. Over the years I have been testing over 500 forex ea strategies. And as any forex trader I started to wonder why my testing results in 99% of all cases was different from what the EA developers claimed. Since I too are looking for that holy grail EA on the market that will bring me wealth and prosperity…. History repeats itself but back then it were the knights looking for the Holy Grail.. I decided to go in a little deeper on this topic that will hopefully help you in your search for it.
Generally there is no such thing as a Holy Grail EA, simply because over time market conditions change. In this case the EA should be adjusted and trade on the actual market conditions. This is why I think that the Holy Grail EA term should be replaced for Best Supported EA. Below my findings.
the holy grail EA..
Dreams or reality?
Don’t you think that if an EA like this would be out there everybody would be rich by now? And why is it that so many websites claim to have the Holy Grail EA for sale? You are not going to like the truth: It’s because of you!
Yes, your crave for profits (aka greed) makes people realize how easy it is to sell a piece of software for over a hundred bucks to people like yourself. Humans try to shut their eyes in some cases and making money the easy way is most certainly one of them.
Guess what, there is hope..
I really think a Holy Grail EA exist and that there are many great forex Ea’s out there or holy grail EAs as you like to call em. The thing is that you need to find them just below the surface. Let me explain how to find them and how to be sure the EA will perform well for a long time. Any EA that you will ever find is always programmed to MAKE profit. So what if it doesn’t do exactly that? Well, lets check this list first before jumping to conclusions..
Check list for testing a forex ea
Always check this list before concluding if your preferred EA actually works. Basically I urge anyone to be extremely critical about any EA. This will most probably save you lots of money.
- use an an EA friendly forex broker
- read the tutorial that came with the installation of the EA?
- are you sure your risk settings were in place?
- are you sure your lot size was OK?
- switch on your computer 24/7?
- know about issues with the VPS?
- was your wifi always working?
- know exactly how the EA was working before you started?
- test the EA first?
- was the EA spread sensitive
- know what tick data is?
- ever asked for tick data from your broker?
- trade the EA in a standard or ECN account?
- were there any verified live or demo track records available?
Holy Grail Tip
So how do I choose a profitable ea over so many bad performing EAs ?
Not many EA traders completed the checklist we just described. In fact, many EA developers didn’t do either! For many hobby programmers it’s just a matter of creating a few hundred lines of mql script en wrap it in a website. Claims like “get rich overnight” “5% per day” ” 4000% in a live account” are common and should trigger the greedy you..to purchase the EA and wish you the best of luck.
How to find that “holy grail EA” then?
- First, always complete the check list which will probably filter out 95% of all the EA’s with their bold statements about being a money making machine.
- Then always request a test on a demo account. After all, who tells you the EA which they show is the same as the EA you are buying?
- It sounds silly, but I always prefer an EA seller that is responsive. So check if they reply to emails and if they are easy to contact. Most EA sellers are nothing more than single websites with a paypal button.
So this is all what is needed?
Basically yes and to make it even easier, we are offering the whole part of testing and slicing and dicing a strategy for free. Once we know what the EA is all about we share this with our clients. This doesn’t means that they can just plug and play the EA. It requires attention and they should manage the strategy themselves. Don’t worry about a good night sleep… after all, it’s a piece of trading software so it will do all the hard work. You just need to monitor the markets. To prevent getting wet feet, we recommend to test an EA before using it. Our team is always at your disposal for any questions.
As I am looking for the holy grail EA for years now I came to the conclusion that many expert advisors are in fact good and do work. It’s just that the perception about forex expert advisors is wrong. Not just plug and play but monitoring is what the trick does. The only thing that you should use is common sense. Don’t believe the ridiculous profits and always, yes always check or test the EA in a live trading account.
In case you are interested to try the best forex ea we know, click here to read more.
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