Topic: Considering Licence Purchase.....

Hi all,

I've recently been using and learning how to use the FSB pro & EA studio with the trial version.

I really like the concept and I'm seriously considering the purchase however, I've found very little in the way of verified results from EAs created with this software so I'm a little apprehensive about committing.

Can anyone point me in the direction of any please?

Thanks in advance

J

Re: Considering Licence Purchase.....

The products are great. I have been using them both for a long time.

I do not think you will find results posted online.

You will have to make the assessment on your own and make your own decision.

Best thing is, develop a couple simple strategies and run them in strategy tester...... that way you will know what results you can look at.

My 'secret' goal is to push EA Studio until I can net 3000 pips per day....

3 (edited by JoeCash 2019-06-02 10:44:46)

Re: Considering Licence Purchase.....

Blaiserboy wrote:

The products are great. I have been using them both for a long time.

I do not think you will find results posted online.

You will have to make the assessment on your own and make your own decision.

Best thing is, develop a couple simple strategies and run them in strategy tester...... that way you will know what results you can look at.

Thanks for the reply!

Yes finding out for myself is certainly a way of seeing results, but I'm simply looking to gain more confidence that I will receive a ROI on my purchase both in terms of time spent learning, testing, optimizing etc and also ultimately £ profit.

Seeing someone elses success would help me gain this confidence, but seeing very few results is actually having the opposite affect.

Have you personally had much success with the software?

Re: Considering Licence Purchase.....

Joe, there's a saying - a bad workman always blames his tools. If one hasn't got a clue and/or is unable to use or understand the tools in his possession, then nothing good will come out of it. FSB products are just tools, not guaranteed profit. Walter Röhrl once said - You take confidence from preparation and you take your courage from confidence. So, Joe, learn and prepare!

And for latest inspiration look up Geektrader posts, he's making a killing wink Marcus (Rantampla) has found his way also.

Re: Considering Licence Purchase.....

yes, I can only agree, some years I use the software now and it gets better from month to month, the important thing is, I never wanted to believe it, now I've learned it, everyone has to find their own way.
Just turn it on and you're done, it will not work. There are almost infinite options and there is certainly something for everyone.
Everyone is ticking differently. Some want to optimize to fall over, others keep nothing of it again. Still others find a middle ground.
As Footon says, yes, I have found my way now, but this was very rocky and not easy. But that's normal, in the right way, like in Forex life.

6 (edited by JoeCash 2019-06-02 15:08:47)

Re: Considering Licence Purchase.....

footon wrote:

Joe, there's a saying - a bad workman always blames his tools. If one hasn't got a clue and/or is unable to use or understand the tools in his possession, then nothing good will come out of it. FSB products are just tools, not guaranteed profit.

Thanks Footon, I agree with your statement but in what way  does this relate to my original question? Are you saying that the lack of results shown is due to people not fully understanding the software?

Just trying to understand why what seems to be an excellent software concept isn't yielding magnificent results that people are shouting about (Or maybe they are and just noy making them public?)

Re: Considering Licence Purchase.....

In what way it relates... You say you gain confidence from other people's success, but confidence can come only from within. You make it sound it, or to be more precise - I take it from you that you see other's success and then it somehow translates into your success, but that will not happen. Sorry for being doom and gloom about this and interpreting you in this manner smile But I've seen it quite a bit and eventual disappointment will be blamed on the software, but it's just a tool...

Let me go on a bit. If you know what you want to achieve, by that I mean reasoning, methodology, proven trading concept, proven portfolio concept etc, then you can take a look at the software, understand its capabilities and what it may and not may offer you. You see, then it is irrelevant whether there are success stories or not, because the underlining confidence comes from your knowledge and ability.

8 (edited by ViniQ 2019-06-02 19:49:55)

Re: Considering Licence Purchase.....

JoeCash wrote:

Hi all,

I've recently been using and learning how to use the FSB pro & EA studio with the trial version.

I really like the concept and I'm seriously considering the purchase however, I've found very little in the way of verified results from EAs created with this software so I'm a little apprehensive about committing.

Can anyone point me in the direction of any please?

Thanks in advance

J

Hello Joe You're welcome!


Forex Software Tools are there to give us an huge edge. You can research (generate and validate strategies) for unlimited markets and easily deploy your expert advisor without programming.

We don't promise results, there is many testimonials online about the forex software products and how people start realizing more about trading dynamics and risks involved in general. Diversification is the key, but even diversifying it takes patience and interpreting the results of a demo account, to know what can be applied into a real account.

I know from my own experience in trading that Financial Markets(forex, stocks, cfd) are account executioner by itself.

[ironic mode on]
It's worse even for those that want to go the easy way out! As leaving the main job to daytrade futures/options in a small timeframe chart, using a small account that you CAN'T ruin, doing it with leverage (all in baby! let's do it!) to get rich fast.
[ironic mode off]

With forex software products I've changed my life, left a career in industrial projects to dedicate myself to be a full time algorithmic trader. It took me a while, years of researching and learning from many bright people from this community. Until I've been accepted to join the team to support Portuguese speakers users.

JoeCash wrote:

Can anyone point me in the direction of any please?

Yes

  • Don't put money in real account for at the first moment, even if you believe that had found the holy grail;

  • Research;

  • Patience;

  • Follow Petko Courses from eaforexacademy, he share a very good content about trading in general and expert advisors;

  • Realize that pay a software to do research at first moment is not a problem, it's the foundation for your business.

That's the main reason people cannot afford to survive the markets, follow those steps and be resilient are not for enthusiasts. But when you do it, you’ll do it (trading) great. Best wishes.

Vinicius Pereira, Support at Forex Software. Olá eu falo português! Se precisar de ajuda entre em contato segunda à sexta: 09:00 - 18:00 (-3 GMT); via direct MP, e-mail ou acesse (Pt) Grupo Telegram;

Re: Considering Licence Purchase.....

I have been using this software for many years. Somehow I was lucky enough to use the original version and have been able to follow the evolution.

I have a simplistic approach, I use mainly the daily time frame and keep it really simple.

Yes, I have had good success with the software.

I know that there can be frustrations on day one, I also know that with some study and research that there can be excellent results.

To have people publish their accounts would be silly as this is a self taught business. My success would not be your success as we are individuals.

I watch as others post difficulties and try to see if those apply to my work.

As Footon says....... it is how we use the tools, there is no way of guaranteeing that you will fail or succeed, it is up to you to fo the work for yourself.

A few minutes ago I started to generate a moving average crossover strategy.... there is 19 results so far, the lowest win loss is .75........ everybody knows that moving average crosses are not to be used. for some reason I have a whole bunch with no losses......  What I am saying is....... work with the thing until you make it do your bidding!  Just like any other type of work, it is up to you to succeed.

I hope that helps.

My 'secret' goal is to push EA Studio until I can net 3000 pips per day....

Re: Considering Licence Purchase.....

Thanks for all the replies everyone.

I will spend a little more time studying before I commit to a purchase.

Re: Considering Licence Purchase.....

You have to find your way, the important thing is not to believe that you will become rich by letting a software work for you. In my life I have known people who have been earning for 10 years with scalping and others who say that money is made only with multitimeframe strategies or high periods (eg week).Who is right if both have earned? You must be patient and understand what is right for you. I wrote you PM.

Greetings.

Re: Considering Licence Purchase.....

I trade manually every day.

I dream up these simple strategies and trade them.....

If I can make money with them after a couple weeks....... then I make an ea using that approach.

At one time I depended on the generator until I realized that I was wasting time.

Now I take my clunky strategies and build them in FSBPro and let the generator refine them a bit.

We all have different approaches to things, hopefully this idea helps you a little.

My 'secret' goal is to push EA Studio until I can net 3000 pips per day....

13 (edited by ats118765 2019-06-07 05:15:15)

Re: Considering Licence Purchase.....

JoeCash wrote:

Thanks for all the replies everyone.

I will spend a little more time studying before I commit to a purchase.

Hi Joe

If it is any help, the real power of EA studio comes from your ability to compile powerful and robust portfolios. This relates to five important aspects.
1) Your ability to address curve fitting which is a prevalent feature of all data mining software in the market;
2) Your ability to select those strategies which have a more enduring (long lasting) edge;
3) Your ability to identify when a strategy is no longer performing and needs to be dropped from the portfolio;
4) Your ability to risk adjust the strategies in your portfolio so no strategy will compromise the overall portfolio;
5) Your ability to compile a non-correlated portfolio which irons out the weaknesses in each strategy and capitalizes on their strengths.

You really need to take time in deciding what you are data mining for.

If you are after EA's that trade future market predictability (referred to as convergent trading styles), then this software and it's tools are a great asset for that purpose.....however your ultimate success will be closely tied to your ability to detect curve fit EA's and your portfolio workflow process where you continuously need to data mine to find new EA's to replace under-performing EA's in your portfolio collections. Predictive EA's only have a short shelf life before the edged is arbitraged away.  It is quite easy to identify profitable EA's that work for a period of time using this software....but the trick to long term survival in this game is your ability to identify when an EA is no longer performing and if to switch it off or not. Your success is not in picking winners but in preventing losers from deteriorating your trade capital when underperforming.

If you are after EA's that follow price and are non-predictive in nature such as trend following/momentum styles (referred to as divergent styles) which are less market specific and more universal, then you need to be very selective in the tools you use and you also need to use extended data sets. Walk forward and Monte Carlo techniques are not recommended for these styles as your performance is strongly tied to the market conditions, and markets simply do not trend all the time. Walk forward methods seek to stabilise income across a time series with positive performance in each segment. Monte Carlo methods also seek to smooth returns to achieve fairly constant returns. This is simply not how markets work in relation to trends. Divergent techniques need to reflect that there are long periods of stagnation or slowly building drawdowns while waiting for these non-predictive trending market conditions.

If you use the complete tool box of EA studio to attempt to mine for these styles of EA, then the tools will automatically bias you  towards convergent trading styles.....which are a far harder beast to navigate over the longer term.

You can still use EA studio to a degree if you are looking for more robust divergent EA's but you need to know what you are doing.

In general EA studio is a wonderful piece of software but not a panacea for those looking to 'get rich quick'. Take some time to understand how the software works, it's strengths and weaknesses and recognise that it is a fantastic tool.....but not a total solution. You need to apply significant critical thinking to your workflow process and understand clearly what you are doing at every step of the way.

I hope this helps mate :-)

Rich

Diversification and risk-weighted returns is what this game is about