During 2009 many things have changed within the expert advisor and automated trading industry. We have seen many commercial expert advisors surfacing like megadroid, fap turbo, robominer, etc ; we have seen an incredible increase in strategies with very high risk to reward ratios and of course, we have seen an increased number of people losing money in the automated trading industry. Another very important development within the industry is the surfacing of many expert advisor decompilers for the ex4 files compiled with the metatrader editor.
Of course, the consequence of having a widely available decompiler is that many people started to decompile commercial expert advisors to get a look at their trading logic. This is by no means wrong or illegal as US law and most other countries laws allow someone to decompile software to see it's inner working unless a specific EULA preventing this is signed (this is not the case for most expert advisors). My main concern is with the later use and distribution of this code for free for other traders to use.
The distribution of copyright material without permission from the authors is unlawful in every country. Most people say that if they had to buy every expert advisor they would go broke and that is the reason why they prefer to download the full versions for free, illegaly. Well, the fact that you can't buy every car model does not justify going out there and robbing cars, doesn't it ?
The fact that some expert advisor creators are dishonest and are just after the customer's money does not also justify software piracy.
What you need to know is to really know how to evaluate an expert advisor and use it. The fact is that if you knew how to do this you would not buy 99% of the experts out there. It makes no sense to get this experts illegally and use them in your live trading accounts. If you do not have a good understanding of automated trading systems you will just lose your money, your trading money, just like if you had bought the original useless software. My advice is that you learn, read, program and know everything you can know about trading and automated trading systems. Do not go out and break the law, just because it fits your lazyness, I tell you, it will cost you a lot of money.
If you want to learn more about free and commercial expert advisors I have bought, tested and 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 !
Of course, the consequence of having a widely available decompiler is that many people started to decompile commercial expert advisors to get a look at their trading logic. This is by no means wrong or illegal as US law and most other countries laws allow someone to decompile software to see it's inner working unless a specific EULA preventing this is signed (this is not the case for most expert advisors). My main concern is with the later use and distribution of this code for free for other traders to use.
The distribution of copyright material without permission from the authors is unlawful in every country. Most people say that if they had to buy every expert advisor they would go broke and that is the reason why they prefer to download the full versions for free, illegaly. Well, the fact that you can't buy every car model does not justify going out there and robbing cars, doesn't it ?
The fact that some expert advisor creators are dishonest and are just after the customer's money does not also justify software piracy.
What you need to know is to really know how to evaluate an expert advisor and use it. The fact is that if you knew how to do this you would not buy 99% of the experts out there. It makes no sense to get this experts illegally and use them in your live trading accounts. If you do not have a good understanding of automated trading systems you will just lose your money, your trading money, just like if you had bought the original useless software. My advice is that you learn, read, program and know everything you can know about trading and automated trading systems. Do not go out and break the law, just because it fits your lazyness, I tell you, it will cost you a lot of money.
If you want to learn more about free and commercial expert advisors I have bought, tested and 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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