Firstly, let’s subjectively compare them side by side: And here’s some more detail (my views only) to help you make a decision as to which EA builder might be right for you: (back to top) Unfortunately there is limited information about how the EA Constructor actually works.
I found the above screenshot after a 5 minute Google search as there didn’t seem to be anything on their site.
Staying true to this approach they are willing to place any profitable EA’s their customers create (using their EA Constructor I presume) in their online store, alongside the EA Constructor and another EA they sell on the site (Forex Spectre).
EA Constructor also comes with 6 EA’s, of which each includes real live “verified” account proof you can view on the site… Let’s just say two thirds of the account proof is real and one EA shows demo account proof only.
At first glance it looks like one or two of the strategies use some sort of martingale approach where draw downs get scarily close to 100%.
This week it came to my attention that one of the easiest ways for my subscribers to sell Forex trading products here on the site would be to point them in the right direction first. Well, there are infinite ways to create a currency trading system, and the main challenges are twofold: To do the above manually can take years to get just one system perfect.
Because of this overhead it leaves most traders hedging their bets by using a combination of proven signals along with their own “reading the market” intuition.
The end result, they hope, is a system that will perform profitably when they trade it; versus a system they are positive will be profitable when traded.
So, how to can they (and you) get around this conundrum and make a profitable system over the long term without taking years to manually test it?
Well, the answer lies with automated trading and this article focuses on building your own Meta Trader 4 and 5 Expert Advisors (EA’s) in particular… Not only do EA’s allow you to rapidly test any system you have designed or purchased they also allow you to trade it automatically, freeing you up from checking charts and monitoring or managing trades.
A profitable EA is considered the “holy grail” for any trader for this very reason.