Thanks. Today my DD is just a bit more than usual. Its now -86 but that doesn’t matter for a 5000 dollars account. Bro I asked you about GBPUSD pair? I want to know is it better or the pair you are using is more better? I put it on the EURUSD and GBPUSD pairs because of the TEA PDF manual only.
A very good friend of mine did extensive testing and he has determined that gu was not as suitable as gcad. I trust him so I went with his advice. He has been trading TEA since day one.
Also he has been around a long time and knows his stuff so when he tells me go with gcad I listen.
If gu is working for you than keep that feeling alive definitely. I am starting with the pairs I have chosen but that does not mean that i wouldn’t try other pairs as well.
Thanks bro. I will check this pair next month and will see which one is good. I am also happy with TEA’s performance. During the past few days Market is very volatile and there is uncertainty too but the EA is pulling some nice small profits. I installed it on 10 June 2013 on two pairs so far on my demo account of 5000 dollars and it made 210 dollars so far with very little draw down. I will add the EA to one more pair once my balance becomes 5500 dollars.
Bro, I need your advise on something. I heard this all the time that TEA will eventually blow your account one day for sure on many forums but when I see the way it works I ask to myself how? I want to know what is your Friend’s comments about this EA? Is he satisfied? I mean can we trust on TEA for lifetime? I know someone who introduced me to Forex is continuously making money by TEA for a living. He is retired and like I said doing Forex for a living by the use of TEA only for about one and half year. So what are the chances that one day you wake up and see a Margin call etc? I need your opinion about it and also what your friend have to say about it?
The key factor in using TEA is not to get greedy. Martingales can and do work (mathematically it is impossible to fail) The only way it can fail is if there isn’t enough money.
The biggest risk with TEA would be to lose half your profits in the event of an equity stop out which I’m still not sure if TEA has. I’ve been meaning to look into that.
AS far as my friend. He faces similar resistance. Problem with forums and the public generally are that they are impatient and change there opinion in a whim. Not the BP community of course 
I’m just saying that in this game you have to be reasonable. Right now my account is earning around 3-4% (demo) and that is tiny risk on a big account. I will be throwing down $3000 just for TEA and I will keep risk low low low because these tiny profits do add up. I don’t need to get rich overnight! I would be extremely happy with 5-10% monthly.
So if we keep our risk in check than I can’t see how we would face a margin call.
I’m inspired, I think I am going to set up some demos and intentionally margin call them just to see what it looks like. Also for the hell of it I will demo GU to see how she does.
Thanks for the reply. What do you mean by “Equity Stop”? You are right that its not a get rich quick thing and I like it honestly for this. I want small but consistent profits which this EA is producing and most importantly with very little DD.
I tested that on a 5000 account with adding so many pairs and I think the risk level was over 80 but it didnt crashed and I didnt have a Margin call at all. The most DD I noticed was about 1200 dollars and it then managed to reduce the DD and it went from 1200 to only 200 after a couple of days. So, I think this EA is pretty safe.
An equity stop is when an ea will close a basket of trades, or all trades if the drawdown reaches 40-50% of your total account’s equity.
'I didn’t get those demo’s set up yet but I will by Monday.
As of right now I am feeling good about this ea and I am very happy with the small gains adding up.
However I must warn that even when things seem really good it is never a good idea to expose yourself to increased risk. Martingales and grids can burn through an account at a spectacular rate so the caveat is keep your risk low low low give this ea tons of breathing room.
Thanks. Yes this is the main key to give this EA lots of equity. One thing is strange that if you see their myfxbook page. Its performance is declining. It made very good profit in 2011 then it made less profit than 2011 in 2012 and situation is bad in 2013 as compare to 2012. However I think it can at least make 5 to 7 percent for sure. To be honest I am confused because of reviews this EA got. Some say its the best while some say that it blew their account. I read reviews on Forexpeacearmy where some people claim that it blew their 50 percent account but this one really struck me:
Now the thing is that I was going to open a 5000 Dollars live account with two pairs in the beginning as per suggested settings but now I fear that if it had blown a 23000 dollars account then blowing a 5000 account must not be difficult but then when I see the way it works. It looks like it will be a winner and will not wipe the account. I am really very confused. Need your opinion bro Jhonny! I am new to Forex so I was thinking to put this EA on live account till I am able to trade myself so it can made some money while I am learning Forex!
Any update? What is your DD at the moment Johnny? My draw down is now -509 dollars. Still using only two pairs with only level 10 settings for both. This DD happens on the day of NFP actually. Lets see how this EA will handle it.
Hi Everyone, Bows TEA going?
I set it up on a few demo accounts last week and it has done very well on both pairs. Very consistent. I traded at both default settings and higher risk settings.
Ill filter myfxbook this weekend and get some results. I have to rebuild my VPS this weekend so will start again but the. Guys at tea support said he would extend my trial if needed so I can get a few good weeks of testing in before purchasing.
Have to say, so. Far so good, you just have to keep your risk in check for the higher drawdown periods.
Matt 
I am also using it on a demo account and so far happy with the performance. However last month my DD reached to about 600 on two pairs only with low risk settings but at the end of month TEA managed to close all positions without loss. The thing which I am thinking is that what if the price never reverses? I mean I dont think TEA has any stop loss in place so what will happen if there is some major change in price? Like I remember maybe last year there was 1000 pips price change in a certain pair.
Please continue to share your results with this EA and whats the maximum DD you got ever with this EA?
[U]Update:[/U]
Here is my two months testing update. I started Tom’s EA with low settings on a 5000 dollars demo account and when my balance reached 5500 I added another pair and so in two months period Tom’s EA made about 1017 Dollars with usually very little draw down.
Hi there everyone. Sorry I know I have been mia. i have had a really busy summer.
Tom’s ea is doing well. I am comfortable with the drawdown which has been about 10% Overall my risk is very low. There was almost a week in the middle of this period where my machine shut down and I was out of town so I didnt catch it. This probably has a negative effect on the numbers. 2% monthly with 10% drawdown. Not the best numbers but not terrible by any means.
I saw a thread in this section called the 10 best ea’s and I thought to myself are there 10 good ones lol? Anyway I suppose if I had a top 10 list this would be on it.
God if I could find the time I would set up my portfolio again. uggg I have been working on one school after another all summer! You would not believe what CT spends on schools! $60mil here $39mil there. I wish I could afford one of these contracts but believe me I don’t have those kind of resources. Still in all it has been fun working on them as a sub.
I will try to be around more. Hopefully things will get back to a sane level! I am anxious to do a pair breakdown and see how each pair did so far. I’ll get it done…one of these days.
Which EA isn’t? Of course there are.
A lot of them use margintale. If u think that an EA is set and forget you are wrong.
I am using various EAs, some of them margintale. I just configure them not to open a lot of orders.
This way they can’t bring your account to a margin call.
If I think an EA goes into the wrong direction I will shut it down and wait till the trades reverse into profit. You do need a large account and have patience to do this. Luckily I have.
When I think a pair is reaching a top or bottom, I will shut the EA down to prevent opening an order when I think the pair is going to reverse. Or I configure the EA not to open a buy trade when a top is reaching.
In my opinion you should still manage your account and trades. Even when using an EA.
I am not a full time trader. I am still learning. But managing the EAs and trading manually made my account increase 100% in almost three months!
Sorry pal, but this ea will fail in the near future, i can predict that easily without a crystal ball.Just look at the equity curve vs the balance curve, it like a mile away from eachother, and it looks like it doesn’t have any stoplosses set so that may cause huge DD in the future.I bet i can make a similar EA in 10 min with this or even better results on demo,but when it comes to real, it will wipe out your account sooner or later i guarantee that…
See its just that easy, but this method will fail so you should give up trading like this …
Well said Proximus.
I can sit here all day and point out why most systems will end up failing but that is not how I choose to spend my time not to mention it is kind of negative energy even though you’re just trying to help the gullible from being taken advantage of.
TomsEA - another Martingale/Grid based system which will fail over and over again. All it takes is for one Huge push in the markets like we had a while ago with JPY moving over 1000 pips with out much of any retracement. This would have easily wiped out all TomsEA accounts and almost any other Martingale/Grid system known to man.
One thing you guys have to learn who are still sucked in to believing in these systems is there is always a breaking point and it is only a matter of when, not if it will happen. It comes down to Luck and Luck alone. Let me make one suggestion if you do take the Gamble and run systems like this. Cash out your profits every single month, do not leave your funds in to compound as the crash is always coming, you just don’t know when it is coming. So protect your profits, your capital is going to be lost one day so count that as gone right now. The only thing you can do is protect your profits by pulling them out as often as possible and putting them in a system that is more sustainable and reliable for long term capital appreciation.
Having said this, you could get lucky and be able to pull your profits for a year, maybe even longer who knows. But there WILL come a time when it breaks and you have to hope that you have recovered your principle before that day comes. This is not a game that I am willing to play personally. There was a time early on in my Forex days that I too fell victim to these programs, I have even looked at the TomsEA code as I was asked to around 2 years ago, I believe the breaking point back then was around 700 pips, not sure where it is currently.
Anyways, I do hope my advice will help out. I have a handful of systems myself that do provide long term success. However it took me 15 years to acquire these systems, anyways glad to help anyone out that wants help. Just PM me any time.
Post your systems. Or give us an idea of what they’re about and tell us which one’s your favorite. Would love to hear more.
I dont think its martingale or grid, i dont know it either, but the bigger problem here is the lack of a SL.You can easily do an ANTI-MARTINGALE system if you don’t have SL it will double lot after profit trades and if you dont have SL you will have like 99% win rate.[B]BUT[/B] this won’t work either, there is a holy tool which was invented a few hundred years ago called mathematical statistics.If the math will not work out, dont even bother building a system on a not reliable fact.Now i must point out that martingale may work in certain cases but not like this.For martingale to be working you must have a constant and fix RR ratio of 1:1 and win rate over 51%, if you can find a system to do that, fine you will be rewarded with a Ferrari and infinite cash, if not then you will lose all your cash sooner or later, no wonder that even the roulette has a 48% probability, anything over 51% win rate is too dangerous because is equal to infinite money in your wallet.I could not [B]YET[/B] find any system which would satisfy the safe conditions calculated by math to safely use martingale,if you can then you got the real Holy Grail without a doubt.But his current system is 100% not good.
Grid system is nonsense, its like trading based on the daily horoscope, the market will always have spikes or jerky movements which willl invalitade grid systems.Of course if you wondered my system doesnt have a SL either, but don’t blame me, since i have a carefully calculated order close system which will detect reversed signs, and after determining the maximum swings i will add SL to my EAs for safety precautions; But i guess in this EA its totally different since it’s strategy is entirely based on no SL, if he would to add any SL to it ,it would not work anymore
yeah, TomsEa is a version of grid/martingale… I have seen the code over 2 years ago…
it goes something like this… 0.01 0.01 0.02 0.03 0.03 0.05 0.08 0.12 0.2 0.4 0.6 0.9 1.3 1.8 2.4 3 and so on… I forget exactly the steps but you get the idea… it goes on like this placing trades every 50 pips or so till your over 600 pips down and making huge lots… the breaking point was about 600 pips for about a 40-60% SL then it really speeds up and youve blown an account in no time… He might have a max SL on it now if he took some advice that was being sent to him a couple of years ago and if so maybe he set this around 30-40% where the ‘breaking point’ is at…
But ya, all of these systems are a pure gamble… all you can do is hope to recover principle by pulling profits frequently and hope the D day is a long ways away… not for me
I’d love to but someone just had a long baseless argument with me about advertising when I wasn’t advertising lol so that’s the last thing I want to get in to again tonight. I can show you a working scalper if you like but there is no way to contact them unless I am told that I am allowed to tell you how to contact the vendor. MenzaFX MAM Reference System | Myfxbook