Hello, has anybody every had any success with some of these commercial eas. And I mean some long-term success and not one of these things which doubles your account in a week and then crashes in a day. I’m asking because I think that there has to be something profitable out there.
There are profitable ones out there.
They just cost a lot more than $79.99.
I’ve been having some success with Kangaroo from tulipfx. I’ve only been with them a month or so, but they are regular winners, and others on their forum have had regular success. It works on the AUD / USD pair, it seems to wait for “Goldilocks” conditions, not too hot, not too cold, just right, and then makes a trade with the trend. Although, with that said, I’ve watched the trend turn on the EA half way through recently due to ninja news from China, and it still came away with a 2% profit - which seems to be roughly the target for the EA. It does this by making up to 6 trades, and then closing them as a basket when it’s time to jump out. I have to admit that some of the trades seem contrary to what I’m seeing on the chart, but that could be my lack of experience, as in nearly all cases it comes out with a win over the (up to 6) trades in the basket.
The EA has a news filter to keep you away from big announcements, and they also issue trade alerts when they consider that a day or even a weeks trading is likely to be too rough. Their fxbook.com page is here : TulipFX’s Profile | Myfxbook - They recommend that you are with a broker with a high tick rate, in fact when I asked them what setup I should go for, they suggested pepperstone razor + cns for the vps, which is a good quality combination. The vps is based in new york and i’m in the uk, but you wouldn’t know it - very little lag.
I’ve also picked up something called NumberOne from SteadyOnFx | We write your next trading software!, which I found through myfxbook.com again. It’s an extreme impulse scalper which works on EUR/USD on the 1 minute chart, so it only works during times of volatility, and as far as I can work out it works on a high speed version of “traders’ remorse” - when the price gets knocked down pretty quickly then bounces back. Terrifying to watch in action, once the trade had been triggered it seemed to open a “buy limit” which slid up and down the 1 minute candlestick before coming into action - but very effective. They have a 60 / 40 win ratio, usually about 7 or 8 pips when they win, and 3 pips when they lose.
Steadyonfx also recommend that you use one of their preferred brokers to ensure that you’re getting a feed that they know works with the EA. Only thing that I guess might put people off is that if you get the cheaper version, you have to have them as an IB on the account. I don’t really know what this means, so I signed up to it anyway, as it’s not costing me anything.
Of the two, NumberOne performed best, but Kanga made me the most money, as the lots are quite high on NumberOne, so the commission was higher.
Kanga has recently had a price rise, on the basis of 18 months solid performance. That I think shows the confidence that the developers have in their product.
I think an EA developed at 79 bucks could make money though, if 40,000 people buy it. Megadroid sold at 67 dollars, and for some reason 40,000 people bought it, which made the developers 2.5 million bucks at least. That in theory gives them the platform to hire top quality developers for product 2, to make another 2.5 million.
I think smartfx will eventually become a winner again too, and that sold cheaply. What the devs there need to do I think is go back to the winning parts of version 9, and bolt them into the “avoid the bad times” part of version 10. In changing the trading algorithm to avoid drawdown at all costs, they reduced all risk and nearly all reward. I’m looking forward to their version 11.
I think that if the developers are confident enough to open their site up to their customers with a forum and discuss their products, to debate the issues surrounding the complexities of the EAs, and to advise their customers on when is good / not so good to trade, and most importantly which broker / vps to choose (e.g. we know it works for us so it will work for you) then you’re in good hands. I get all of this from both kanga and numberone. I got most of this from smartfx through the babypips forum.
im using kanga too. i think is one of the best out there.
Can try fapturbo, million dollar pips, GPS forex also. Very popular among forex trader. Read up their reviews good and bad and look at the results and make your decision to buy or not.
I uesed the EA on Ikon’s traidng platforms
I’ve been using Forex Hacked for the past 1.5 years. Trick is to withdraw your profit each month and rinse and repeat. You may have the odd month where you take a big loss, but when you are doubling your investment every 2 -3 months the long-term profitability is certainly there to be had.
I’m another plus 1 for Kangaroo.
Megadroid has been good to me as a slow earner and so has Steady Winner Full (4.3 and 5, 6 soon to be available and is in test)
A lot of EA’s work for a period and then fade away quickly as market conditions change.
Can zulutrade SP consider also?
thank you all, I will look into all these EAs. I dont know if any of you have heard of an EA called Forex Envy. It seems to be a grid+martingale+hedging type of robot. It is true, I have also noticed that most robots are successful at least for a limited amount of time. But I think if you are using a grid type of ea then your ea should always give you some good returns. Of cause you will need to use conservative risk settings whilst using such an ea because grid+martingale trading is inherently risky.
Grids/Martingales can offer profits in most market conditions as long as you understand the dangers of running them. Saying that I’m in the middle of setting up an Independent Real Verified Forward Test of Forex Envy that has their approval.
Their results show a phenomenal month in April. We’re setting up an account of approx $500 and running it exactly as Forex Envy suggest as a real test of it’s capabilities. I can link to the forward test once it’s live for you.
That would be great. I look forward to seeing your test results. Another grid ea which I bought recently and am testing is Forex Grid Trader. Wish me luck there. I’ve also seen that Forex Peace Army are running tests on Forex Grid Trader but it would be good to have someone else testing as well
I hope to have the EA and settings from the developers when they come online (US Based), with a view to start trading Sunday/Monday
Hello Dear
I am a MQL programmer and build a lot of EA based on buyers logic. Some of them are profitable in long run.
Currently I am testing one of my own EA on several pairs of my demo account. And I hope it will be proved as profitable on certain currency pair. In last three weeks testing I have found EURJPY as the most profitable pair for this EA.
Please keep in mind that ‘profitable’ does not mean ‘double in a week’. It’s totally impossible to make your investment double in a week or even in a month. If any EA can make it - that must crash in another week/month. I found my EA can earn around 3% in a week - i.e 3x50 = 150% in a year. And it should be considered as profitable in the long run.
any luck with getting the settings as of yet?
Hey Richbugger, they have been in touch but have not provided the EA and details yet as they’re bug fixing a few items.
I’m awaiting an ETA in their next email!
Haven’t had any success, but thanks for the heads up on Kangaroo and NumberOne, very interesting results, might give it another shot soon, when I have enough capital to get started again!
I’m currently testing it. although i have a plan for this bot due its risky nature: 1) to have envy with a small account and withdraw weekly ( as they recommend) 2) deposit gains on a "savings account with kangaroo , and forex real profit. 3) withdraw to a real savings account. 4) spend 
that’s it