Prop Firms, EA's and Trading Gurus (Looking for Experienced Traders in FOREX - STCOKS - Commodities)

[JohnnyDoe]

As someone that has developed and traded with EAs for over 10 years I can say it is not worth it anymore. You are trading against the broker. The will alter ticks, create slippage so you loose in the longer run.

Not sure if this is still possible, but back in the days brokers kept suckers clients in a separate book, and didn’t bother to actually enter their trades in the market.

 

[jafo]

Not sure if this is still possible, but back in the days brokers kept suckers clients in a separate book, and didn’t bother to actually enter their trades in the market.

Back in the '80s, as most here know, I was programming in dBase (Borland) and FoxBase (later Foxpro) etc. In the insurance business, they kept a separate file for people who will NOT cause legal problems if you deny their medical claims, and in the natural medicine business (mail-order), they kept a list of people who were suckers! Meaning you can ship them anything, bill their credit cards, and they would NOT do a chargeback

PS. I was ONLY a "computer guy". I was in a foreign country (USA) with a student visa, getting paid by Engineering university professors to write code...and I did NOT have a work permit. Did I mention my family was dirt poor? I knew it was wrong, but it was either that or trying my luck in the jungle...besides... the brother of my employer, the insurance guy, was my general advisor (not academic advisor) and the general advisor was an alumnus at my uni and he was the sitting US Attorney for that district (main prosecutor)... needless to say...I was so f*cked if I blew that whistle - I am dumb as a rock, but NOT suicidal!

 

[Thomas67]

As someone that has developed and traded with EAs for over 10 years I can say it is not worth it anymore. You are trading against the broker. The will alter ticks, create slippage so you loose in the longer run.

Prop firms I can understand and I'm not refuting the point, but why would brokers want you to loose as this is a trader-to-trader zero sum game with brokers' revenues being based on fees/commissions? Are they market makers too? Which instruments/markets?