I have been around trading for a while and have noted that a lot of EA's have come and all to my limited knowledge have gone.
After years of study and looking at some futures, commodities and mostly currencies charts I have come to the conclusion that the best indicator is the bars, candles or what we call price. While most serious traders learn about shooting starts , doji's etc the real trick to reading price is looking at closing of bars and where they close to the proximity of other bars or lines. Also to look at price in clusters etc... Well, a book may be written on how to read price, to ferret out the strength in moves, to find a true and accurate direction of price, -at present I will refrain as this is in respnose to another person or persons who write the ea's. For this trader to truly believe in an EA I would first look at the credntials of the person authoring the piece and whether they know how to read price. It has been my experience, although limited, most computer programmers do not read price. As a qualifier, some might but most do not.
So if one only understands part of the equation...then how do we implement in real time...what uses the whole equation?
Learning to trade may be equated to spending many years in an advanced degree.
Peter
If the EA's truly worked who do you think would have them?
--- On Wed, 1/26/11, igorastafiro <igorastafiro@yahoo.com> wrote:
From: igorastafiro <igorastafiro@yahoo.com>
Subject: [4XONTARIO] Re: LEO TRADER PRO
To: 4XONTARIO@yahoogroups.com
Date: Wednesday, January 26, 2011, 7:31 AM
Just a summary and update on Leo Trader Pro from our group.
The EA is a wash. It dropped open trades at a loss and some users who risked live money lost big! Support comes in one liners and they do not want to show good business savvy for at least rewarding those guinea pigs they have used to test their amateur product.
Igor
--- In 4XONTARIO@yahoogroups.com, "igorastafiro" <igorastafiro@...> wrote:
>
> Need I say more. This quote is from the group who sold us the EA just posted, the message speaks for itself:
>
> "Leo Trader Results so far
>
> It's no doubt there's been a rocky start due to technical glitches. We're still having trouble keeping the platforms up on our own test accounts (they keep crashing randomly) and all 3 of our demos (along with many of our clients) missed the 5 trades that were taken today.
>
> Obviously if the technical problems aren't fixed within the next 4-6 weeks we'll be getting a refund. Why would I wait so long? Well, I am completely ignoring the results of any of our tests during the next 3 weeks."or
>
> Igor
>
> --- In 4XONTARIO@yahoogroups.com, "igorastafiro" <igorastafiro@> wrote:
> >
> > O.K. this is what took place today. Account #1331 which the Leo Trader Company have set up with FinFx earned another trade of .20 lots bringing the todal number of trades since it was sold this week to two trades [ .40 (EUR-USD) and .20 (GBP-USD) lots on their live account.] The accounts my friend Alex, has set up have made NO trades, something is fishie. If the corporate account made a GBP-USD trade today of .20 lots, why didn't the indipendent account my friend Alex is trading make a similar trade. Both programs communicate with the same Leo Trader server through their DLL, as explained by the company.
> > Another suspicious issue is one of identity. We have been making all sorts or efforts to find the identity, location and corporate licence of the Leo Trader product, without success. They seem to work out of nowhere on the Internet. Could this be a massive scam involving all types of retailers, only time will tell. Would you trust and buy from a company that was not identifiable?
> >
> > If other members here have any information about who these Leo Trader Corporates are, let the members of 4xOntario know by posting your information.
> >
> > I will keep the members posted of what my group finds out and if the Leo Trader EA makes any trades.
> >
> > Igor
> >
> > --- In 4XONTARIO@yahoogroups.com, Sezor <sezor@> wrote:
> > >
> > >
> > > Thanks Igor.
> > > This will be interesting ..
> > > Sezor
> > >
> > >
> > > igorastafiro wrote:
> > > > For what its worth, one of my friends in the small trading group we have, went ahead and blew the money and purchased the EA. He bought both the EUR-USD with the GBP-USD combination and the USD-JPY with the usd-chf combination for an additional $80.00 = total $260.00 CAD. To date he has found the following.
> > > >
> > > > 1- The EA uses a dll which communicates with the Leo Pro server, both sends and receives data. This means if the vendors decide to stop the signal to the dll or ask for more money in the future, he will be at their mercy.
> > > >
> > > > 2- To date, NO trades have been placed by the EA running two demo accounts for two days.
> > > >
> > > > I'll keep people posted as I get the info.
> > > >
> > > > Igor
> > > >
> > > > --- In 4XONTARIO@yahoogroups.com, Paul Cagnina <paulcagnina@> wrote:
> > > >>
> > > >> your correct the name of the firm I was thinking of is fini fx
> > > >>
> > > >>
> > > >>
> > > >> To: 4XONTARIO@yahoogroups.com
> > > >> From: moderator_4xontario@
> > > >> Date: Sat, 18 Dec 2010 18:19:27 +0000
> > > >> Subject: [4XONTARIO] Re: LEO TRADER PRO
> > > >>
> > > >>
> > > >>
> > > >>
> > > >>
> > > >>
> > > >> Hello Paul.
> > > >>
> > > >> I think you have your information wrong. FinFX is out of Finland, you can Google FinFx Finland and find out for yourself. In our investigation of this product, we have been in touch with this Broker and obtained the following information from them:
> > > >>
> > > >> (Although our rules do not allow for the posting of URL we will make an exception here for members' "education")
> > > >>
> > > >> http://www.ytj.fi/english/yritystiedot.aspx?yavain=2235049&kielikoodi=3&tarkiste=77657D45F215722100F03CF7EBD81BDBBB82AA9E&path=1704;1736;2052
> > > >>
> > > >> Regards,
> > > >>
> > > >> 4xOntario Moderator
> > > >>
> > > >> --- In 4XONTARIO@yahoogroups.com, Paul Cagnina <paulcagnina@> wrote:
> > > >>>
> > > >>> I have heard of finfx. They have been around for at least 7 years. They are out of Cal.
> > > >>>
> > > >>>
> > > >>>
> > > >>> To: 4XONTARIO@yahoogroups.com
> > > >>> From: lenfonkely@
> > > >>> Date: Sat, 18 Dec 2010 15:22:53 +0000
> > > >>> Subject: [4XONTARIO] Re: LEO TRADER PRO
> > > >>>
> > > >>>
> > > >>>
> > > >>>
> > > >>>
> > > >>>
> > > >>> The big sales pitch is that they appeared at the Las Vegas (The International Traders Expo). Big deal! Anyone with 1k in their pocket can get a booth but where are they to be found now? Its a scam no two words about it. I agree the weak link is the broker. Who ever heard of FinFX?
> > > >>>
> > > >>> take care everyone keep your money
> > > >>> Len
> > > >>>
> > > >>> --- In 4XONTARIO@yahoogroups.com, "igorastafiro" <igorastafiro@> wrote:
> > > >>>> Its a scam. The small scam is paying the $149.00 to buy it but the bigger scam will be with placing your money with an unregulated broker which was only registered in April of this year?
> > > >>>>
> > > >>>>
> > > >>>> Think before you act.
> > > >>>> Igor
> > > >>>>
> > > >>>> --- In 4XONTARIO@yahoogroups.com, "4xOntario" <moderator_4xontario@> wrote:
> > > >>>>> Dear Members:
> > > >>>>>
> > > >>>>> There has recently been a buzz about a product EA, called the LEO TRADER PRO. The hype is immense and too good to be true. We advise our members to be extremely cautious: To date, through our investigation we have not been able to establish the whereabouts of the developers of this product.
> > > >>>>>
> > > >>>>> EXTREME CAUTION IS ADVISED.
> > > >>>>>
> > > >>>>>
> > > >>>>> Regards,
> > > >>>>> 4XOntario Moderator
> > > >>>>>
> > > >>>
> > > >>>
> > > >>>
> > > >>>
> > > >>> [Non-text portions of this message have been removed]
> > > >>>
> > > >>
> > > >>
> > > >>
> > > >>
> > > >> [Non-text portions of this message have been removed]
> > > >>
> > > >
> > > >
> > > >
> > > >
> > > > ------------------------------------
> > > >
> > > > Yahoo! Groups Links
> > > >
> > > >
> > > >
> > > >
> > >
> >
>
[Non-text portions of this message have been removed]
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