Forex Real Profits EA

[tradingshed]

Hi,
A few days ago I came across this website Forex Real Profit Expert Advisor, Live Testing Real Money Trading Accounts.
(I am not an affiliate and I do not have anything to do with them)

They offer a FREE demo of their EA with the claim that their system might just turn out to be one of the best in the world! The website has a forum where one can register free and download the free EA for demo testing. If then one is happy with the performance on demo, the EA must be purchased to trade it live. However, the free testing does not have a time limit, which I found attractive.

The website is totally devoid of marketing junk (that's right!) and it has several live forward testing myfxbook links.

So, with such apparent pedigree and no cash outlay, I have registered, downloaded and installed the EA and all worked fine. I had it running for a few days on a Hot Forex Demo account and it made no trades. As it trades 9 pairs, that is a bit suspicious. So I contacted support via the forum and they replied within a day offering a Teamviewer remote session to investigate the problem.
I found that exceptional considering I did not have to pay a penny for the EA!

So far I am very impressed by the fact that the EA is free for testing, it does not have a time limit, no marketing rubbish, real live forward testing links and support is very responsive.

I will post my findings here as we go along. If you have tried it or are trading it live, I would love to her from you

[Still learning]

Will watch it

[tradingshed]

Well, we had the remote session and the EA entered 83 trades in one day!
The EA apparently only trades for 1 hour a day between 9 and 10 pm. to check if all was ok with the settings, we have changed the times in the settings and made it trade 24 hrs, hence the 83 trades! the result for the day was a loss of a couple of dollars.

Having assessed that there does not appear to be a problem with the EA or the set up, I moved it back to the 1 hour a day trading. No trades for today, we will see.

Their live forward testing account promises good things. I guess I will not be posting that often ;-)

Has anyone else tried it or is anyone using it?

[jayjonbeach]

Thanks for reporting all this. I am intrigued to say the less and like what I heard in the first post.

The last post sounds pretty concerning so far, that is the shear number of trades even if 24 hours.

Will follow with interest

Are you aware of how big of SL's it sets? How many pips is it aiming for?

[TsubasaOzora]

Well, we had the remote session and the EA entered 83 trades in one day!
The EA apparently only trades for 1 hour a day between 9 and 10 pm. to check if all was ok with the settings, we have changed the times in the settings and made it trade 24 hrs, hence the 83 trades! the result for the day was a loss of a couple of dollars.

Having assessed that there does not appear to be a problem with the EA or the set up, I moved it back to the 1 hour a day trading. No trades for today, we will see.

Their live forward testing account promises good things. I guess I will not be posting that often ;-)

Has anyone else tried it or is anyone using it?

83 trades ? wow.. i think its super risky EA..

but yeah. like you say.. its interesting EA

[PaladinFX]

Well, if activity hours can be set, I guess it could be made to trade the London session only, or the three hours it overlaps with the NY session.
Is it also possible to choose which pairs the EA trades?


O.

[tradingshed]

The EA currently trades 9 pairs and they are the pairs recommended by the developers.

So, I suppose one could choose whichever pairs he likes.

As far as times of trading, yes, you can change the times it trades in the settings. Again, currently I am just using the recommended times.

The 83 trades I mentioned refer to the 9 pairs, so around 9/10 trades per pair in one day when was running for 24 hrs.

I will make the developers aware of this thread they might want to participate.

[PaladinFX]

I will make the developers aware of this thread they might want to participate.

Yeah, that's a good idea.
It's better to talk to somebody who knows how to tweak an EA than to just set it up and fiddle around with it for some time.


O.

[forexrealprofitea]

Thank you Tradingshed for your kind words and for the invitation to BabyPips Forum. We are honoured to be part of this community. We are big fans of BabyPips, finished the “school” few times few years ago, but not members of this forum until now

About us:

We are a small team of forex enthusiasts who don't want just to sell a robot, we want to share our experience with our partners and help others to win on forex, as we do. That is why for us is most important to take our time and help our patners in any problem they might have.


A little bit of history:

ForexRealProfitEA has been created for our own use. In order to trade our money automaticaly better than the solutions found on the market at that time. It was back in 2009 when we started to test different strategies in order to find the perfect one (I don't know if we found the perfect one, but I surely know that we found a reliable one). Back in April 2010 we started to trade real money with one of the first versions of ForexRealProfitEA. Out of the experience gained by real live trading enviroment we have modified and adapted the strategy to work in real life, not only in backtest or on demo accounts. This being said, after 8 months of live trading we have launched our robot to the public. ForexRealProfitEA is being available for purchase since December 11, 2010. We think that we are the only one in the whole world that, at the date of launching had not only one, but multiple real accounts with several months of live trading history.

About the robot itself, it trades from 21 to 22 GMT, the default stop loss is 100 pips being the maximum amount of pips it can loose in one single trade. Money management is based on this 100 SL. SL can be set to either true or false, the robot featuring an internal hard coded SL algorithm that is dinamically adjusted according to the market conditions. Also SL can be modofied although we do not recommedn this. The settings we provied as default are thoroughly tested on multiple real accounts.
ForexRealProfit EA features a trend filter, a volatility filter and a newly added news filter, that stops the trading session if high impact news are detected during short time before and during the trading session of the robot.

TP can be anywhere between 0 and arround 25 pips, in the last versions being posible to reach even 40-50 pips depending very much on the current market condision.
With a SL between 0 and a maximum of 100 pips, ForexRealProfitEA featureas a 1.4-1.6 RR ratio (extracted from the almost 2 years old history of our real money live accounts).

The EA also has a spread protection, maximum slippage that can be acceptable to you can be set, invisible mode, NFA compliance and an interestin account free margin protection that prevents margin calls. It stops new trades to be open if the account free margin in below a defined percentage.

Money management can be calculated based on the account's Ballance, Equity or Free Margin.

Risk percent is defind in percentage so users can have full control on the risk they take when entering a trade.

GMT offset is automaticaly calculated so users do not have any problems with the broker's time or local time or DST or anything else time related.

More explanations, can be found in the user manual that is distributed together with the free version of ForexRealProfitEA.


About our future plans:

We will update our robot very soon, with a lot of new strategies that we developed and tested in the last two years. Considering every currency and every strategy, we will have about 25 robots in our offer this year for the same price (for now). Most of the strategies will be combined in a single one for every currency to be more easy to use.



All our strategies are tested directly on Dukascopy, on tick data, with our java version of the robot, for the most accurate results. After that, we rewrite all strategies in ex4 for MT4 platform.

In two months time our oldest live account will have 2 years of unintrrerupted trading history. We are looking forward to that moment, again knowing that we will be amongst the very few vendors in the world that will be able to brag about something like this.


We consider that we are an example of how EA developers and vendors should be and we are most honest with our customers.
Five real accounts statements, verified by myfxbook, updated every minute, two of them almost two years old, free demo version of our robot on our forum and backtest for the last 10 years is more then a proof of how honest we are.

This is who we are and what we do. Well, I think that this should be enough for the beginning.


Looking forward to answer your questions you may have

Regards,
ForexRealProfitEA Team.

[jayjonbeach]

Thank you for the great background and informative post. As I mentioned in previous post I am very interested and your post helped me in a few areas I was curious about.

From what I seen so far there is some great transparency on your website/approach and like TS mentions the lack of extra sales hyping and down to earth approach is refreshing.

It also looks like you have built in many great features many of which I want to put in my own EA.

One thing I want to clarify:

TP can be anywhere between 0 and arround 25 pips, in the last versions being posible to reach even 40-50 pips depending very much on the current market condision.
With a SL between 0 and a maximum of 100 pips, ForexRealProfitEA featureas a 1.4-1.6 RR ratio (extracted from the almost 2 years old history of our real money live accounts).

I understand the SL is dynamic, and it sounds like the TP is as well. Are you clarifying in the above statement that over the last two years in your live account, the average RR is more or less 1.5, so broadly speaking and judging from the ranges being used, you are risking roughly 20 pips to gain 30?

Thanks again