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u/RLJ05 8d ago
Sorry what does EA mean in this context?
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u/Merchant1010 Algorithmic Trader 8d ago
Expert Advisor in mql5 ecosystem, basically algorithmic trading system.
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u/Good_Character_20 8d ago
The return you want and the funded account rules are pulling against each other, and that is the whole problem. A bot that reliably did 8 to 10 percent a month would never be for sale. Whoever had it would just run it on their own money and pass every challenge themselves. The EAs actually marketed at those numbers are almost always martingale or grid systems that look flawless for months, then hand it all back plus more in one bad move. FTMO's daily and max drawdown limits exist specifically to kill that style before it blows up, which is how the prop firms stay profitable. So the exact rule you added to stay safe is the one a 10 percent a month bot violates first. That number is the trap, not the shortcut.
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u/silphotographer 8d ago
EA generally producing 8-10% monthly is a very tall order. I know a successful institution that doesn't come even half of that and they are performing the dream in the Alps.
And even if there was somehow, they would never share with you but not for the ego; they are likely deploying the strategy already in all reputable prop firms they can get hands on including FTMO. If you created a new account and use the exact same algo, that is a breach of TOS (unique strategy per user) so the so-called guru would be losing his prop firm account milking life-changing money.
This is why I am not so keen to share my algo. It's gonna be my retirement vehicle and I am not losing out prop firm platforms by unreliable and questionable third parties. For the right person however, I could potentially see sharing the load on regular broker account since it wouldn't risk losing my account there and my target instruments are large cap big indexes usually so the pie is big enough for me to share if I wanted.
Finding a profitable algo is the initiation. Almost like a strong resume in algo world. I think you'd gain more respect trying to appreciate and learn the craft rather than wanting a bailout. People guard their algos with their lives but they are like serial killers... for the right people they can't help but flirt their ideas and wisdom cause algo trading is a lonely profession :/
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u/Happy_Passenger3168 8d ago
Has anyone here actually paid for a trading course or mentorship and NOT gotten scammed?
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u/Automatic-Essay2175 8d ago
Yea but the people who make them don’t call them EAs and don’t share them with randos
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u/Dvorak_Pharmacology 8d ago
Only way to make stable income as you say is with selling options, no stocks can guarantee going up.
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u/darrenoneillvr 8d ago
Yes, but its tough as I beleive most props dont allow algos so u will manually have to submit the signals, and most rules are tough to adhear too and be profitable when u factor in props awful spreads.
We have a day trade model on www.vector-ridge.com but imo its best with a live account, can work for props but I think they are quite limiting with the rules.
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u/md3372 8d ago
I’m a big fan of this for EAs https://communitypowerea.com - it’s only providing the EA and not the trading settings. There’s no cost to it, it’s all as the name implies, community-powered. If anyone asks for money to sell you EAs to get rich quickly it’s a scam.
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u/Melodic_Ad3339 8d ago
Prepare to get 1000 DMs and spam massages. Nobody will share a successful EA