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
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.
[B]A little bit of history:[/B]
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.
[B]About our future plans:[/B]
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:)