This past few months have been eye openers for me. I have learned a lot about automated trading systems and the way they work (and don't work) in the forex trading world. Throughout the last year I have reviewed many expert advisors, both commercial and free and I have concluded that commercial experts are in no way better than the good quality free expert advisors out there.
Sure, free expert advisors have several disadvantages. They are most of the time not developed by professionals, they have no implicit support, they have no manuals, no one to shout at when the money is lost, etc. But maybe the biggest disadvantage of free expert advisors is that their overall quality is abysmal.
Yes, the worst thing about free expert advisors is that most of them are not worth anything. Most of them are doomed to lose by design and many of them have inherent logical flaws which prevent them from working. Many of them are designed to work in very short time frames, with unreal take profit values, etc.
The good thing is that once in a while, you find some expert advisor that stands out. It happened to me with the God's Gift ea and it happened again with the Simple Daily system expert advisor. I have seen how free expert advisors developed by people who do not sell their products have outstandingly overrun their commercial competition. Trust me, I am not easy to convince and I had always defended commercial expert advisors against free ones but now, I believe that there are just as good, talented people making expert advisors for free that work as they are people selling expert advisors for profit.
If you would like to learn more about these free expert advisors or the other commercial expert advisors I have reviewed please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !
Sure, free expert advisors have several disadvantages. They are most of the time not developed by professionals, they have no implicit support, they have no manuals, no one to shout at when the money is lost, etc. But maybe the biggest disadvantage of free expert advisors is that their overall quality is abysmal.
Yes, the worst thing about free expert advisors is that most of them are not worth anything. Most of them are doomed to lose by design and many of them have inherent logical flaws which prevent them from working. Many of them are designed to work in very short time frames, with unreal take profit values, etc.
The good thing is that once in a while, you find some expert advisor that stands out. It happened to me with the God's Gift ea and it happened again with the Simple Daily system expert advisor. I have seen how free expert advisors developed by people who do not sell their products have outstandingly overrun their commercial competition. Trust me, I am not easy to convince and I had always defended commercial expert advisors against free ones but now, I believe that there are just as good, talented people making expert advisors for free that work as they are people selling expert advisors for profit.
If you would like to learn more about these free expert advisors or the other commercial expert advisors I have reviewed please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !
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