Forex EA or Forex Signals?

If you search for forex signals, you will find a lot of people providing signals. Most of them will be copied from one and then pasted into another forum. You can test them in demo account if your demo account produce good results for a long time, it means signal provider is good. Moreover people reviews will also tell about those signals. But you should test them yourself.

EAs are also found everywhere. Free and Paid, both are available and each one claims to be the best in the world. A reliable EA is hard to find because no one will sell it for low price. Free EAs can be tested but again it will take a lot of time to test EAs in different conditions.

Signals are better option in my opinion. But if you can program an EA yourself and you know about trading strategies then develop your own EA and test it in different conditions. Keep improving it. You can never get better EA than your own.

I think forex signals are easy to find and sometimes given by reliable traders. Whereas reliable EAs are hard to find.

Forex signals are better than EAs. An EA should be reviewed and updated regularly. Signal providers are doing this job for you. They give you signals everyday.

Originally posted by Sasha

Forex signals are better than EAs. An EA should be reviewed and updated regularly. Signal providers are doing this job for you. They give you signals everyday.

But if you see here, mostly traders use EAs.

Only a few traders answered and no one use any commercial EA. They use customized EAs.

Forex signals are better. They can wipe your account as well as EA's, but if signals come from a professional trading team there is less to worry. Personally I don't believe in EA's at all, nowadays if we look at a robot's webpage its full of marketing (a very detailed site) and only a few statements are published. Sometimes they even do not use 3rd party auditors like fxstat, simply upload a html file or post some backtests. Kidding? It could be easly edited. And if we got here don't forget that MT4Live and MT4Stats could be "hacked" easly via FTP, no wonder a lot of EA's and companies who want to sell something refer to statements what are uploaded to these auditors. (mt4live and stats)

It was a bit offtopic, but I hope you guys see my point. It's better to look for a professional fx team who looks serious, could manage your account or send you signals, than looking for 100$s robots and wait for the enormous profit.

Hi Richde, Great to see you actively participating in forum. I am explaining my point a bit further. I agree with the point of majority of people here. A managed account is much better than EAs.

Richde you explained it very nicely. That looking for $100s robots to manage our accounts is of no use.

Hi, do you know the reliable forex signal source? Kindly please share for us :)