Hi O. Yes there is a way to solve this. Please contact us by email and sent us the account no. and the investor password of your demo acc. There is no rush, because today is a no trading day.
Regards,
Catalin
forexRealProfitEA Team.
Mail sent to info@frp.
You have nice customer service, I like it.
O.
I like the way everyone on this post is getting excited because they think they’ve found the free holy grail and in the next few months, they will be millionaires. Think about it for one minute:
forexrealprofitea is so kindly giving us a free [B]demo[/B] EA, which they have shown no solid evidence of [B]consistent[/B] profit over time. The EA runs at a time when liquidity is low, so your spread will be high if your order gets filled. No human being on this earth will ever give away a winning formula because the minute they do, they lose their edge and it’s no longer a winning formula. forexrealprofitea is trying to sell the EA because he / she cannot trade forex in a consistent profitable way.
… oh and try going on their website which is hosted in Romania. No telephone number, no registered EU company. Do you want to buy an EA from here? Good luck if you do.
Nobody thinks that they’ve found any grails, never mind holy ones; nobody is getting excited.
Nobody is expecting to become a millionaire in the next few months, because the EA shows rather modest profits, without the usual ‘[I]make-1,000%-a-month[/I]’ hype.
If you had bothered to get some more info, you’d maybe have found a way to see for yourself whether evidence of the bot’s performance over an extended period of time was avilable; instead, you prefer to make unsubstantiated assumptions.
Spreads with my broker during the EA’s trading time are between 0.1 and 0.4 pips higher than at peak London session; hardly a reason to worry.
Yes, a few hundred or thousand people trading mini lots will surely upset the whole forex market, thus rendering the EA useless. Damn, I wished I’d thought of that myself earlier.
It’s time for me to disengage [I]Sarcasm Mode[/I] and (manually) grab some pips now, so…
Cheers,
O.
Dear mrchilled,
Please don’t waste your time with us.
We are way below your wisdom and the grates thieves on forex industry 
Kind regards,
Adrian.
Adrian - what is your ultimate motive … To sell your EA?
Why would you want to sell an EA if it’s consistently profitable?
As you can appreciate there are a lot of naive newbies that use this great forum resource, and reading a post like this is very manipulative. Your ultimate goal is to profiteer from the weak ones. I should know, I was once a naive newbie and in many ways, in my eyes still a newbie.
I did a full due diligence on this company before I made my comments. For example, go on their website and checknout the dukascopy report showing how $7k turned into $5k in 7 months. It stops on 14 nov 2011 and we are now in Feb 2012…Have you done your research?
Your broker gives you a spread of 0.1 and 0.4 PIPS… Which broker would that be then and which pairs? I think I’ll sign up as I struggle to get a 1 pip spread during liquid times!
Oh and seeing that you can so easily grab some pips, why do you need to waste time on a demo EA that you have to pay for to go live. If I were you, I would continue grabbing the pips and not waste valuable trading time, especially when your broker offers you such a good spread.
Dear mrchilled,
If you have a problem with EA’s, this is an Expert Advisors and Automated Trading Topic.
We haven’t started this Thread, we are here to answer some questions regarding our robot.
Why not sell an EA if it’s consistently profitable? What is the problem with that?
I would buy one if I’ll see one.
What is manipulative, our 5 real account statements verified by myfxbook, some of them almost two years old?
How we profit from the weak ones, by offer them a free demo version without expiring limit, to test the robot as long as they like before buying?
Please read first page and see who we are and why we are here.
If we are not honest, I don’t know who is. Really.
If you have some good questions, please ask, but don’t invent some lies about us and put us on the same level with all other EA sellers that promise dreams without any proof, because we are nothing like this.
Before any reply, please tell us what EA vendor you know with more than one real account statement older than two years on his homepage and a free demo version of the robot without expiring limit.
This is my last answer to you if you continue with those lies.
I don’t want to turn this thread in your unfounded personal vendetta.
Kind regards,
Adrian.
Adrian - your first post says you don’t want to sell an EA … yet the demo is free but you have to pay for the live. Please explain this contradictory statement…
As for your technique, well it’s nothing but a poor amateur strategy. A Stop loss of upto 100 pips and take profit of around 25 pips or at best 50 pips … A sure fire strategy doomed for disaster. How can you ever have a risk reward of 1:2 against you?
Anyway, I’m not going to waste anymore of my time on this thread. I’ve made my point in the hope that it saves a naive person some hard earned money… $199 per year. Which is confusing why you charge in dollars, have US CFTC disclaimer but actually operate from Romania… Hmmmm.
MrChilled,
As I have created this thread for the purpose of evaluating and discussing FRP EA, you are welcome to express your opinion. However,I now feel that you have done that and you had your chance to express why you are not interested in FRP and you had a fair shot at warning potential buyers against it.
Although I understand this is is a public forum, I do not like your attitude that much and I would like to ask you to refrain from posting unless you have something useful to say and are able to say it in a constructive manner.
The developers of this product are offering potential customers a free trial demo, they are been very accommodating and professional by participating to this thread and I would like them to continue to do so. I do not see anything negative in what they are doing or offering. In addition to that, I personally have some very good friends from Romania and object to your insinuating comments.
If you really feel strongly about the negative aspects of FRP, you are welcome to start your own thread.
The fact that a losing account is being published makes a nice change to the usual hype on EA-selling websites.
While a drawdown of 28.57% is quite substantial, it’s far from crippling.
As to why the account’s report stops on 14Nov 2011, I don’t know; how about asking the vendor?
Actually what I said was that during the EA’s trading times, my broker’s spread was higher by between 01. and 0.4 pips than it is at peak liquidity times.
Spreads with my broker: EURUSD between 0.1 and 0.8 pips, average 0.4 (between 0.3 and 1.0 during the EA’s trading time; EURGBP between 0.3 and 1.0 pips, average 0.7 (same values during the EA’s trading time); USDJPY between 0.3 and 0.8 pips, average 0.6 (between 0.5 and 1.0 during the EA’s trading times; other pairs similar.
Looks like you’re with an expensive broker, seeing as you ‘struggle’ to get 1-pip-spreads even during liquid times.
lol, it’s not so easy to grab some pips … as a matter of fact the trade I opened manually this afternoon hit its S/L (32 pips) earlier this evening, hehe. Oh well, you can’t win ‘em all, I guess. 
The reason that I’ve decided to check out the free demo of this EA is that, since I started trading in 1991, I have always only done so manually … mainly because I don’t like the hype that is usually created on EA vendors’ websites.
FRP refrains from ‘[I]Get-rich-quick[/I]’ promises, gives realistic profit expectations, and is (to my knowledge) the only vendor not only supplying longer-term live testing but also offering interested traders the opportunity to have a close look at the EA by making use of the free demo.
This combination is attractive enough for me (who I have always disliked entrusting my money to few lines of code) to avail myself of the opportunity to have a free-of-charge look at an EA.
Yep, that’s one issue we agree on … as a matter of fact the R:R ratio is way higher even, since S/L is fixed at 100 pips and the average T/P is below 10 pips; it’s one of the two things I don’t like about the EA … and probably the main reason for the very limited trading time during the last hour of the NY session: volatility during this hour is rather low, so it’s highly improbable that the S/L gets triggered.
The other thing I dislike so far is the T/P method utilized by the EA’s algos, which closes trades around B/E, once they recover from an adverse-direction move.
Well, that’s the reason why I test the EA on a demo account; after a year or so, I’ll be able to judge how well the EA’s logic works, whether tweaking will improve it or whether I’ll discard it.
The free demo is a nice way of doing that … it’s surely better than some money-back-guarantee, which is always doubtful and mostly limited to 30 days. A month is way too short to evaluate a trading system by forward-testing it … and backtesting is unreliable.
I welcome your decision to not post here anymore, as will most others, I guess.
There is no need so ‘save some naive person’ from spending 200 bucks a year, since everybody can demo-test for as long as she/he wishes, for free.
To the best of my knowledge it is a legal requirement for vendors offering their products in the US (which one automatically does, using a website) to display the CFTC disclaimer; so it’s simply a prudent thing to do, no matter whether it’s required for a Romanian vendor or not.
I suggest that you do [B]not[/B] test this EA, if you dislike it; that’s a very simple thing to do (or not to do, in this case, hehe).
Happy trading.
Cheers,
O.
I want to specify that the answer is not for the people who are attacking us and who are not interested in our EA, but instead for reasonable people who are interested in our EA:
Dukascopy account has had withdrawals done, thats why it has such a low ballance. It is not money lost by ForexRealProfitEA. Our robot has never ever lost us any money. And we do not trade that account anymore due to bad spread of small accounts at Dukascopy. Thats why the statement stops somewhere in november last year. At Dukascopy you need 50k+ to get decent spreads. We still use the Dukascopy account for testing purposes. We are developing new strategies since the first day we put FRPEA for sale. It is already more than 1 year of work, but we are getting closer and closer to the finish line. We know that FRPEA performance had not been extraordinary lately but we are not worried at all. Backtests show us that this periods are to be expected, especially with all the problems of the financial world nowadays.
@Oliver1968: Again Oliver, you are right. It is hardly possible that 100pips SL is hit at 21GMT due to low movements of the market at that specific time of the day. That’s why we chose that trading hour. You are though mistaking when analising the RR ratio. Do not forget that SL is not fixed at 100. That is the maximum amount of pips that can be lost in one trade (and the reference for risk percent calculation), but if you check our live accounts you can see that it has been hit very few times in thousands of trades. For example our Pepperstone account has never hit the SL since we started it in April 2011. The stop loss value itself doesnt give any, ANY information at all about the RR ratio that FRPEA might have. If you want to analise the real RR ratio please look at our live accounts statistics published on myfxbook. There are thousands of real trades taken, not demo trades or backtests. Or if you like MT4i more, you can find our statements there too (MT4i - forexrealprofitea1, /forexrealprofitea2, /forexrealprofitea3, /forexrealprofitea4, /forexrealprofitea7.
Hope this answers all your wonderings.
Regards,
Catalin
ForexRealProfitEA Team.
Yeah, I realized my mistake about the 100-pip S/L after having posted, but didn’t want to edit the post.
Those 100 pips arte the maximum, not a fixed S/L (on Tuesday, a trade was closed at -30 pips).
In any case, the R:R ratio is still around 5:1 or higher; it’s one of the two things I’m not so happy about, as mentioned in my post above, the other one being your T/P algo, once a trade recovered from red.
I think, however, that you must have a reason for having programmed the EA that way, so I’ll just keep testing it; time will provide the answer.
In addition, I guess that with the next version, which trades some pairs 24/5, many changes in the EA’s logic will have been made.
Cheers,
O.
Extras from our real account no.1:
Trades: 1576
Winning trades: 1130 (72%)
Loosing trades: 446 (28%)
Average Win: 5.48 pips
Average Loss: -8.50 pips
Resulted Risk to Reward ratio: 1.55 : 1
Extras from our real account no.4:
Trades: 2107
Winning trades: 1517 (72%)
Loosing trades: 590 (28%)
Average Win: 5.02 pips
Average Loss: -7.33 pips
Resulted Risk to Reward ratio: 1.46 : 1
Extras from our real account no.5:
Trades: 619
Winning trades: 440 (71%)
Loosing trades: 179 (29%)
Average Win: 5.77 pips
Average Loss: -8.78 pips
Resulted Risk to Reward ratio: 1.52 : 1
That means we are risking less than 2 pips to win 1 pip with 72% winning trades.
What do you say? Am I correct in my analisis based on trades that HAPPENED already (and not a few of them, but between 600 and 2100 trades)?
Catalin.
Well, I have not yet witnessed enough trades on my own account to deduce meaningful R:R ratios … that’s why I’m demo-trading the EA.
It’ll be several months before I can say from my own experience whether I’m comfortable with the ratios.
Also, one needs to differentiate between [I]projected[/I] and [I]actual[/I] ratios.
With a standard S/L of 100 pips and an average T/P of 5 to 6 pips, your [I]projected[/I] R:R is between 16:1 and 20:1; your [I]actual[/I] R:R is way lower, of course, due to the dynamic algos you use.
Bearing in mind that your EA has been designed to scalp (or at least short-trade), the R:R shown in your live accounts (around 1.5:1) is normal, I’d say.
O.
Please take your time untill you have enough trades to deduce a RR. Also this is why we provide the statements of our live real accounts, so people who dont have history trading FRPEA with real money know what to expect when going live with it.
As a little piece of information: the TP can go as high as 185 pips!!! (if the market condition allows this to happen) according to the backtests, so if one includes in calculations the MAX SL, he should also include the MAX TP, or go with the average TP and the average SL
@tradingshed: it seems to me that you have too many trades since the beginning of february. Are you sure your trading time is the recommended one?
Regards,
Catalin
:o
Nice.
I look forward to seeing one of those trades, if conditions permit.
O.
Catalin, no sorry, the high number of trades included the test we did at the beginning letting the EA running 24/24. I will exclude them from future postings to make sure there is no misunderstanding:-)
