I’ve been using a Money Manager service for like 7 months, started with $2500 deposit and got $37.000 so far, which is only half the profits since half of it went to my money manager’s pocket. then two days ago my Manager offers me to buy the EA for $5000 so I can trade by myself and no profit share. Do you think its too expensive? Does EA performance differs with different operator? What is the indicators of good EA? I need your advise, please.
Well, if the ea keeps up its performance, your new profits would pay it back in a month or less… I’d ask more info about the philosophy behind the ea, to make sure it will not fail you - 7 months is quite short period to prove any reliability of ea.
Have a question angelnoob. What money manager service you’re using. Those results are good
First of all those results are pretty good.
If the EA can produce the same results or in this case double because you said the MM takes half of the profit then for sure its worth it. What an investment?
What concerns me is why are they willing to sell the EA? Surely they would want to keep it secret and not sell it because taking half profits makes them more money. Maybe not with your account but consider the money they would make on a $200,000 account.
Maybe the ea creators know it could blow up the account some day, so better just get the $5000 and run 
That’s for sure!
I’m also interested in this. Would you be willing to share information about your money manager? $2500 to $37,000 in 7 months sounds too good to be true.
its called Pipscutter or something. well I started with $2500, then got like $4000 profits after 1 month and keeps increasing sometimes going down too, they told me to withdraw the deposit then we trade with the profits only. I just withdraw all the money recently, they offer me the EA because I said I might not trade again.
Sounds too good to be true
Thanks for the response. Please, help me understand. You mentioned “its called Pipscutter or something.” Did you really have $2500 turned into $37,000 by a money manager whose name you barely know? My second question, did you withdraw all of the $37,000 profits, or just the original $2500 investment? If you did indeed receive profits of that magnitude, then why on earth would you ever want to stop trading? This seems highly illogical to me.
Pipscutter has s myfxbook page showing profits, but only starting this month.
They have another myfxbook account under USGFX, also just March.
I can’t help but wonder if this thread has been created to draw noobies into buying this ea.
Just noticed their website says “No, pipscutter is not for sale. We have had people offering $5000 …We are not interested in sales…We are traders and money managers”
Somethings not right here
yes I don’t really remember their name, I usually speak with one of their employee via skype or when we meet in church on sunday. Yup I wanted to stop trading because I found out there is a possibility to lose all my money, so I withdraw all the money before losing it.
I ask about it to their customer service, and looks like I made someone lose his job. They didn’t sell the EA, its just a corrupt employee’s scam. Lucky that I ask you guys before do such thing.
I don’t know about the website, but they give me a trade statement and an investor password to check their trade, and the money I get is real. it is indeed to good to be true, feels like winning a lottery, that’s why I’ll just take the money and maybe stop trading because you have to be super lucky to win lottery twice in a row.
I know Pipscutter, good MM, but they play way too safe (I prefer a risky one). I don’t know that they have clients from outside Melbourne.
Stay away from these guys, I would be $10 k richer if I never found this post. they just use a bunch of Junk EAS read this
see forex piece army Pips cutter, mam-pamm, pamm-mam scam
this was my first post so I could not post the link
My answer is and always will be NO. About myfxbook, you dont see the drawdowns of those EA’s. When you follow them you will know exactly what I mean. I am not saying everyone there has huge drawdowns but it is the majority. I am not recommending anyone on myfxbook but good luck with your online trading adventure.
In my opinion, never buy an EA unless you personally know the developer. A lot of these EA guys are really smart, but don’t anything about trading. They will curve fit the crap out of it and take way too much risk. Looks good on paper, but the account blows up on the first drawdown.
Agree with you on this. However, based on my experience and I have a lot, people only learn after they lose money. The more they lose the more they learn and the longer it sticks. There is nothing you can really do about this, it’s the only way of learning in this market.