I am not an affiliate and I do not have anything to do with them. They offer a FREE demo of their EA with the claim that their system might just turn out to be one of the best in the world!
The website has a forum where one can register free and download the free EA for demo testing. If then one is happy with the performance on demo, the EA must be purchased to trade it live. However, the free testing does not have a time limit, which I found attractive.
The website is totally devoid of marketing junk that's right! So, with such apparent pedigree and no cash outlay, I have registered, downloaded and installed the EA and all worked fine.
I had it running for a few days on a Hot Forex Demo account and it made no trades. As it trades 9 pairs, that is a bit suspicious. So I contacted support via the forum and they replied within a day offering a Teamviewer remote session to investigate the problem. I found that exceptional considering I did not have to pay a penny for the EA! So far I am very impressed by the fact that the EA is free for testing, it does not have a time limit, no marketing rubbish, real live forward testing links and support is very responsive.
I will post my findings here as we go along. If you have tried it or are trading it live, I would love to her from you: Well, we had the remote session and the EA entered 83 trades in one day! The EA apparently only trades for 1 hour a day between 9 and 10 pm. Having assessed that there does not appear to be a problem with the EA or the set up, I moved it back to the 1 hour a day trading. No trades for today, we will see.
Their live forward testing account promises good things. I guess I will not be posting that often. Thanks for reporting all this. I am intrigued to say the less and like what I heard in the first post. The last post sounds pretty concerning so far, that is the shear number of trades even if 24 hours. Well, if activity hours can be set, I guess it could be made to trade the London session only, or the three hours it overlaps with the NY session.
Is it also possible to choose which pairs the EA trades? As far as times of trading, yes, you can change the times it trades in the settings. Again, currently I am just using the recommended times. Yeah, that's a good idea. It's better to talk to somebody who knows how to tweak an EA than to just set it up and fiddle around with it for some time.
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 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. 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 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.
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. 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 pips being the maximum amount of pips it can loose in one single trade. Money management is based on this 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 pips depending very much on the current market condision. 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. 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. 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. Thank you for the great background and informative post. As I mentioned in previous post I am very interested and your post helped me in a few areas I was curious about.
It also looks like you have built in many great features many of which I want to put in my own EA. I understand the SL is dynamic, and it sounds like the TP is as well. Are you clarifying in the above statement that over the last two years in your live account, the average RR is more or less 1.
Actually the average win is 5. This is from our oldest real account. Real Account Statement 4 - from our homepage. I am seriously interested in this ea. I think most of us would agree its great when a vendor is willing to answer questions and lend support to there ea.
Actually I think I will download the demo version and check it out. I'm always looking to diversify my portfolio. A huge part of my trading philosophy is centered around "research and development" which goes hand and hand with diversification. I never want to keep all my eggs in one basket and I never want to put something unproven on my main account so I will take a look at this ea, if it seems like it is doing well and I am comfortable with the overall expectancy than I will throw it on my test account and if it succeeds there then I will go live.
I became interested in this EA and registered in their forum to download. When I clicked the link to download the zip file that contains the EA, the indicator and the dll my ESET NOD 5 antivirus with virus signature updated this morning alerted me with the following message: Please check what's happening with the zip file because with that threat I will certainly not download that file. When downloading or unzipping it is highly possible that your antivirus software gives you a virus alert.
This is caused by Themida, a powerful file protection software, which is also used by virus writers in order to protect their viruses. That is why antivirus software always gives alerts when a Themida protected file is detected, because it is a high probability that the file is a virus.
We are not virus writers, so please go ahead and disable the antivirus software in order to be able to download or unzip our files, once finished, enable the antivirus software and if needed, add an exception to it for the "frp. No need to worry about our dll.
It was tested with "virustotal" and you can make the same test, just to make sure. Last scan that we performed was just before the upload, to see if there is a problem, but we found none.
It was tested on 43 different antivirus software. You will find the report there. When you copy the attached file, please check if the copied file size is the same as the attached file size.
If the copied file size is NOT the same as the attached file size, you will receive an error message when unzipping, because your copy is not complete.
In this case try to copy the attached file again. I haven't seen that disclaimer. Not for a split second I was even supposing that you were virus writers!
Those things could happen to anyone of us Gonna give it a try over passing that message. Please compare the myfxbook statement with mt4i statement. MT4i - Stats for forexrealprofitea2 On "Peaks and troughs in balance" you will find that "Deepest valley: We calculated the risk so that if we lose two times more than the historical maximum draw down for the last 5 years , using money management at a 4.
We never reached that limit. Hi all, glad to see that FRP is actively participating to the forum, is always very good when questiones can be asked directly to the developers.
As far as my updates, well, the EA has not been trading siince the 7th Feb so there is nothing to say.More...