The purpose of this page is to encourage and collect the user reviews of a Forex product called Forex Pro Cloner. To get the details about this product (such as its features) or if you’re looking for support, please visit the official website that can be found at forexprocloner.com.
Below are the current reviews of Forex Pro Cloner. It is possible that at the time you’re reading this page there are no reviews yet. Because they come from real users, it may take some time for the first reviews to appear. Please bookmark this page and come back regularly to check for new reviews.
If you have experience with Forex Pro Cloner, please leave a short review or comments with your feedback (please follow the posting rules). It will help other users to decide. Thanks!
If you want to submit a Forex product that is not already listed on this site for user comments and review, use the submission form.
need phone number fof jason adams forxprocloner because icould not download the forxproclorner .
yeah..there IS NO CONTACT INFORMATION at all on the site! Also the STATISTICS of the ‘live trade stats’ are OLD from last month!@
Scam?
I bought it and it is ONLY an EA…it don’t connect to any human trader! and there was like 8 pages of UP SELLS for clonerExtreme and other JUNK like ForexCloner BOSS and Alert?!!!!!!! What the heck!!!!! I feel cheated! Why all this if it is CLONING a REAL TRADER!!!!!!!!!
Bought this as well. Downloaded it but can’t install – reports an error. Has anyone else had the same problem and / or knows what to do ?
Going for a refund after only two days. The program only works from 11pm to 7am.looks like there is no one sending the signals.
Hello Phil….yes i also want refund…also looks like there is no protection for the Forex Cloner Basic and the “boss”. But still …there is NO HUMAN TRADER trading this…it is a really blatant LIE!
This is a complete scam. I told the cloner that I only had $500 in my account to see how it traded. Lucky I have more because it is already $1000 down within 24 hours !!!! It is nothing but a Martingale EA. Very dangerous, and this guy should be locked up.
Upsell madness!!!! What a shonky sales pitch goes on and on and on, got fed up listening but thought would try it but looks as if refund in the offing. If this product was going to be the new age for forex trades they could cut the crap and still make sales, but it would have to good and this is NOT.
Got the Extreme. The upsell was crazy and discredited the service IMO. However, after 3 days of trading it’s up 2%. Trades 4 pairs. Out of 14 closed trades, 9 winners & 5 losers. Strategy seems pretty conservative as it seems to go after small gains with minimal exposure. Truly been hands off once installed. You let the EA know how much you’re starting with then they determine the lot sizing. Not exciting but positive.
Not sure how you guys are getting your results. But so far so good.
May the pips be with u
I have traded it for the first three days with over 2% gain myself. I had trouble with the EA crashing the mt4 plaform so I downloaded the most recent version from my broker and it worked fine. Best to run on a VPN so that you are guaranteed the most uptime and reliability. I would like to know if the system will shut down if it continues to go against you. I wish there would be instruction manual regarding risk and leverage with this system so that you know how to set your settings and what your maximum risk is.
@ Pipz, good question…maybe send support requesting info?
From reviewing this week’s trades, out of the 5 losses the largest loss was around 40 pips. Based on the conservative lot sizing it’s not even 1%.
Stats after week 1: Closed trades 15. 10 winners/5 losers
2.22%+ Good sign is the performance during a extremely volatile week.
Not exciting but I’ll take this all day long. 2%/week = 100%+/year. Let’s see how week #2 goes.
My curiosity got the better of me and I decided to see how the Forex Pro Cloner MT4 EA was communicating with and replicating the trades of someone else.
The short answer is: it isn’t. The product is a scam.
Even before I’d downloaded and installed the EA I knew that I was in for disappointment. There is a HUGE amount of upsell after you purchase the initial Cloner EA. The first EA is sold for $37 and is set to only work on one currency. After you purchase it you get offered the Extreme version which works on multiple currencies. The Extreme version is first offered for $97. If you pass, you get offered it for $67. If you pass again, you get it offered for $1 with you paying the remaining $66 in 30 days. You’re never even told what extra currencies the Extreme version works with (for the record it’s GBP/USD, USD/CAD and USD/CHF).
Then you’re offered additional products all which are traditional EAs. There’s the same upsell. An initial offer, a discounted offer and then the bargain basement $1 now and pay the rest later. Why would anyone who is looking to purchase a trade cloning system (to supposedly get around all the disadvantages of regular EAs as so eloquently touted on their main webpage) want a bog standard EA? If my memory serves, there were two EA offerings and then a membership offer where you sign up to receive any additional EAs that are released for a further $47.
The next red flag is when you install the EA and have to update one of the EA’s properties as per the install instructions. You have to set a GMT offset value so that the EA knows what time zone you are in. Why does a clone EA need to know what my local time zone is? Shouldn’t it be just copying the trades of the mythical Jason Adams?
There are another two properties which explain why you need to do this: GMT START and GMT END. The default values for these are set to 23:00 for GMT START and 6:59 for GMT END. These values restrict the EA to only operating during the Tokyo session. You can quite easily change the start and end times to have it trade all day or for only 5 minutes a day.
The EA is nothing more than a martingale grid trading EA. It places limit order trades above and below the current market price when it becomes active. Once a limit order is triggered it will place a new larger limit order further away. There are no stop loss or take profit values set on any of the active trades. All open trades are only closed out by hitting the opposing limit order. If the market trends heavily the EA could quite easily have multiple orders open in the direction opposite to the trend. The EA is averaging down.
The reason why it is set to trade the Tokyo session on non-Japanese Yen pairs is to try and take advantage of the fact that most pairs will be ranging during this session. But if the session trends instead there is no evidence of when the EA will call it quits. Most likely when you experience a margin call.
I emailed their support and asked what IP address the EA was using to communicate with their server to handle all the supposed clone trades. I was told that they would investigate and let me know. I know that they’ll never tell me an IP address as it would be all to easy to hook up Wireshark to monitor data packets being sent and received from MetaTrader to know it’s fake.
I have already put in a request for a full refund through Plimus (the merchant site used). Their first reply is a classic. They say that it is a supervised EA and that they monitor all trades 24/7. So now they supervise trades instead of cloning them!
Another red flag worth mentioning is the trade blotter they used on their website. The trades shown on this bear no relation to those taken by the actual EA itself. The blotter shows trades on USD/JPY when the EA doesn’t even work on that currency pair. The blotter trades generally have 25 pips TP and SL levels. The EA trades are a minimum of 40 pips for a win (if the initial trade hits its TP level). I have not seen the EA take a loss yet so I’ve no idea what criteria it uses for bailing on trades (if it ever does).
This program is a scam I’m down 35% of my account. In 4 trading days I lost $639.85. Jason Adams is not a real trader! He looked familiar when I saw his video and I now know that he’s an actor just doing an informercial. Scam, Scam, Scam.
After 2 days of using this cloner my account is in a draw down of 21%. A real person who claims he can double your account in 60 dyas can not be placing these trades. One of the first things I notice is no stop loss is being used. My next thought after the first 2 days of use is a robot has to be doing this trading. I will post a up date in a day or so.
Been trading the FPC Trading Boss for 2 days. 2.3% gain. 12 pairs, 40trades, 23 wins, 17 lost. Not enough information on how the systems work as to money managemnt, leverage, margin exposure etc. One trade today Aud/jpy 7 Buy Stop orders activated as the price headed south. each new order has larger units to cover the inceasing losses. The take Profit ends up dropping on all open positions, most of wich will close at a loss, and only the last 1/2 trades will get you out at near to break even. Why they dont close trades when they open another beats me…losses keep growing when you should just get out. It is basically adding more contracts when you loose. My 7 A/J ended up $64 in front. This is the most worrying aspect of this system.
ProCloner update since acct opening 7/4:
*29 closed trades
*22 winners/7 losers
*5% ROI
*Today netted 55 pips/yesterday @ 46 pips
Still not sure whether this is an EA or “Cloner” as claimed. Typical target profit @ 10-12 pips. Biggest loss was around 40 pips however, avg loss around 12 pips. Lot sizing/risk seems to be very conservative resulting in less than 1% risk overall.
At 1 week, early to tell and not exciting however, very positive. 5% gain/week x 45 weeks = 225% ROI. Will take this all day long. Especially when you don’t have to do a thing. So far so good.
May the pips be with you….
My opinion: This must be a scam.
No instuctions, just a simple EA.
They called it cloning of trades from a experienced trader, and that is not what it is anyway.
I think the person behind this is called Greg Stef….. (not sure of his second name) I think maybee from Polen.
Have claimed for a full refund!
i don’t know why others are complaining about the software,when i bought it i tried it on all my test accounts, the wonder i discovered was that the trading boss on eur/usd doubled my $100 account from on Friday to Wednesday, in fact it traded the non farm pay roll news release,it is a wonderful trader because it resets its orders to 0.01 when it has closed any open trades, grid traders ea don’t resets its pending orders. for it to double your money in votality and spikes, let it trade only on eur/usd and change the end time to 22:59 and let it run on vps, for me it is giving 40% of my account daily eur/usd only.
PC Extreme update since 7/4 (2 weeks):
*53 Closed trades
*42 winners/11 losers for a 79.25% win ratio
*8.48% ROI
I agree with most everything Colin says above. Overall not my style of trading but this is interesting with positive results. I’m seeing most of the target profits going for 12 pips. Even with a Martingale strategy, risk mgt seems to be pretty conservative.
I’ve asked support to provide trade results/stats to compare trades as I’m assuming we should all be getting the same trades. Not sure how so many out there are getting such bad/different results.
Osagie Oyakhire!
If you have those results, can you then please tell us what inputs to set?
The software did not come with any instuctions at all, and just that is extraordinary.
For me so far this is not any more than a scam.
it came with 4 youtube videos instructions, just attached the ea to the 15 minute eur/usd chart, after change the right gmt offset, change end time to 22:59, you must use the tradingboss only on eur/usd and see for your self it is safe even in the most volatile market conditions
I am wondering if all these people with negative review have purchase this system i am glad they closed the door,in two weeks the gains are 300 pips already i do not care what kind of system it is i care about the final result.
still making profits
I purchased the FPC Trading Boss. The thing is making me money everyday. Not a loosing day in 3 weeks. My live account is up on average 8.5% per week…that equates to over 400% pa…I have paid for the system in one day. I dont know what the other systems are like, but this one is very conservative and protects your capital. It has a take profit order but no stop loss. My only suggestion would be for their programmer to amend the EA/Robot (yes it is)to close down trades that go negative relative to the Take Profit order when it adjusts with subsequent orders are executed. I trade with 12 pairs. Their back up service(lack of it) and no Web site leave me alittle in doubt as to how long this system will run or if their is a license date built into it. Apart from that I’m in the money!
Hi K-Boy,
It’s refreshing to see someone comment on this software who has actually bought and installed it. Most of the complainants above clearly have not.
I’ve been running the basic Pro Cloner on the EUR/USD live since the 19th. 6 winners, no losses and 9 trades cancelled for a return of 7.3%. Not too shabby. I ran it in demo for over a week prior to that and, although it did have a couple of losses, it seemed good enough to try it live. Russ Horn (who I have a lot of respect for) endorsed the product and that’s why I decided to give it a try. I didn’t buy any of the upsells as my experience is that they are usually crap.
I see that they have curtailed sales for now, not sure why, but we will see what happens next. My only concern (so far) is that support seems pretty thin (to put it mildly) and although I have asked for them to supply their current trade updates, I haven’t had a reply to that. Any luck on your side with getting access to their “up to date” trading results.
Regards,
Paul
@ Paul: 3-4 days at 7%+ ROI is very nice. I’ll post my updated stats after the NY session today. I’ve wondered why it doesn’t trade the London and 1st half of the NY session but see why now. Since it’s only going for an avg 12+ pips it can rely on a pretty tight trading range. Plus less volatility = less risk. I realize it’s a variation of Grid Trading. Some use Buy/Sell stops, others use B/S limits. Many grid trading systems seem to eventually fail during heavy trending periods which may explain why PC trades primarily the Asian and 2nd half of NY…reducing risk.
Have to say PC’s doing exactly as demonstrated. Not going after home runs but lots of base hits. Not exciting vs all the other systems out there claiming stupid returns. But again, I’ll take 1%-3%/day all day long.
As for PC Support, my experience has been returned email messages within 24 hours. Here’s the response I rec’d regarding trade posting request: (who knows if it’ll ever happen but I’m running PC Extreme and 2 other Boss platforms and all the trades seem to be pretty consistent)
“Jason is the person who makes all trades, further we’ll be publish all
> the trades soon.
>
> Regards,
> FPC Team”
PC Extreme update since 7/4 (3 weeks)
*91 Closed trades
*67 winners/24 losers for a 73.63% win ratio
*13.92% ROI or avg 4.64%/week
Largest PIP loss @ 70. Largest $ loss @ $100. In both cases under 2% risk. So far the risk/cash mgt is conservative. Gains are conservative but respectable IMO.
Additional:
Started Trading Boss on 7/18 so here’s the 1 week update:
*Trading 9 pairs
*46 Closed trades
*34 winners/12 losers for 73.91% win ratio
*4.07% ROI
Trades seem to be near identical to PC Extreme (on the same pairs)
So far so good….
You guys are going to get slammed once you go live. trading without a stoploss on a robot simply won’t work. I’m still down 35% and they won’t even reurn my emails nor my money.
@ ALain
Thanks for your advice. BTW, when did u start up on PC? Which program are you on?
Well Guys, Friday’s trading is out of the way, and my chart (and, yes it is running on a live account) is still pointing upwards. Since going live on the 19th my account has grown by 20.5% – not too shabby in my books. Lost one days trading (26 July) due to a power cut – heavy snows here – and I can report only two losses for a total of 21.2 pips. Overall profit now sits at 205.1 pips for a total of 8 actual trading days using only the FPC basic system on the EUR/USD. Don’t change the GMT start & end times or the trades might not be managed (not entirely sure about this – just play it safe). But DO make sure that the GMT offset is set correctly.
Anyone who can’t see that as a good return need’s their head examined. I will carry on running on this small account until the end of August, and if it still looks good I will bump up the size of my account.
Paul
Hi Paul those are nice results I have the basic running on 3 accounts but am not achieving those results mind you it is profitable I had it in a 8k IamFX account since July 5 and it only picked up $226. just over 2% and in a Ava trade account with 6k since july 21 $26. and the best was a $50. Exness account $5.46 since July 28 one day. So it would appear the best results come from small accounts. As the more in the account the less risk it takes in lot size.
Paul, nice stats. Over 2%/day on Basic. Think it’s performing better than Extreme and Boss so far!
Update:
Extreme (started on 7/4 w/ $5K demo/4 pairs) (1 month stats)
*307+ pips
*114 closed trades: 84 winners/30 losers for win ratio 74%
*$895 profit for a 17.90% ROI.
*0 losing days
Trading Boss (started 7/21 w/ $50K demo/16 pairs)
*Started with 9 pairs but added another 7 two days ago as FPC support says TB should work on all pairs.
*449+ pips
*87 closed trades: 64 winners/23 losers for 74% win ratio
*$3800 for a 7.6% ROI (7 trading days)
*0 losing days
Interesting how Paul’s results are more with less so far. In any case, I’d be happy with this all day long if it remains consistent.
I’ve noticed something interesting though and brought this up to support but no answer yet:
*There have been 3 “lost” trades on TB & 1 on Extreme where no Target Profit was indicated. I decided to leave these alone to see what happens. The 3 on TB appeared on the 27th, right after adding the pairs to the EA (during non trading hours) They’re still in play and the worst pair is drawn down over 180 pips. Pretty sure these trades are not by design as all FPC trades are showing a TP but not SL. (Correct me if you guys are seeing something else). Support asked which pairs I’m experiencing this with so I’ve let them know. Still waiting to hear back. In any case, keep a close eye on these “lost” trades as I have a feeling they’ll never close out on their own. Also have a feeling this is the DD some of the traders on this forum have experienced. Trying to find out what the cause might be as it’s clearly out of the EA’s character. Again, brought this up to support. Guess if you see a strange trade like this, close it out immediately.
After a month of trial here’s my opinion:
This is clearly a combo of Grid and Martingale strategy. Both strategies have negative overall experiences of eventually blowing out the account. However, what makes this unique is the risk mgt. Very conservative lot sizing along with TP. When the trade’s going against you, Martingale kicks in by increasing the lot size with the theory it’ll eventually turn around. The problem is most system’s risk mgt’s too aggressive therefore, during heavy DD you’ll get the dreaded margin call and/or blow out. However, FPC’s strat is to keep it conservative so this could never happen even in crazy heavy DD.
**Case & point, yesterday my A/J trade DD heavy, I mean it filled 6 buy positions starting with a .52 lot size, ending with a 1.37 lot size. In the end, the A/J series of trade ended with $106+ (negative pip count but doesn’t matter since lot sizing took care of everything):
4372108 2011/07/28 21:59:50 Buy 0.52 AUDJPY 85.509 84.858 2011/07/29 18:08:29 84.858 – 4.16 0.00 – 438.95 – 65.1
Magic #33255 1311763244[tp]
4372321 2011/07/29 05:27:50 Buy 0.69 AUDJPY 85.289 84.858 2011/07/29 18:08:29 84.858 – 5.52 0.00 – 385.62 – 43.1
Magic #33255 1311763244[tp]
4372608 2011/07/29 05:38:58 Buy 0.86 AUDJPY 85.069 84.858 2011/07/29 18:08:29 84.858 – 6.88 0.00 – 235.30 – 21.1
Magic #33255 1311763244[tp]
4373750 2011/07/29 08:30:37 Buy 1.03 AUDJPY 84.849 84.858 2011/07/29 18:08:29 84.858 – 8.24 0.00 12.03 0.9
Magic #33255 1311763244[tp]
4374108 2011/07/29 15:30:01 Buy 1.20 AUDJPY 84.629 84.858 2011/07/29 18:08:29 84.858 – 9.60 0.00 356.33 22.9
Magic #33255 1311763244[tp]
4375075 2011/07/29 15:47:54 Buy 1.37 AUDJPY 84.409 84.858 2011/07/29 18:08:29 84.858 – 10.96 0.00 797.63 44.9
After 1 month, I’m impressed. No losing days and 70% win ratio overall. 1-2%+ ROI per day with most all trades closed the same day. My only concern at this time are the occasional “lost” trades popping up. I hope support has an answer for this. Looking to go live here shortly once I get some answers.
Sorry for the long winded analysis. Please forgive the occasional type-o’s as it’s late at night and I’m wiped. Good luck to us all!!
Well, dear friends,
I’ve decided to quit trading (robot and manually) until Mr Obama and friends can sort out their debt shit. On Tuesday, or Wednesday I will re-enter the market. Until then, it takes someone with bigger balls than me to trade the USD! Good luck all until then! And may the trend be with you.
Kevin & K-Boy, I will try and post my trading history for you, but it doesn’t seem to cut and paste that well. Let me work on it and give me a couple of days, and anyway, I’m going to sit back and watch the Washington comedy show for now!
Trade carefully, Elephants crossing.
Kind regards,
Paul
Smart move Paul. You can post your trades on MT4i.com if you’d like. You can set parameters to hide your name/acct #’s, etc. It’ll automatically synch with your MT4. Also gives PIP count so that’s nice. The stat breakdown is very helpful and will save you a ton of time.
I’m in demo so I’m letting this ride to see how it does in all conditions. Today was outstanding with over $2400 banked or over 4.5% ROI on the $50K acct. 8 trading days returning 12%+ and it’s not done yet as NZD’s in a DD at 50+ pips, 4 positions filled. It’s turning around now so we’ll see.
Good luck to all!
Thanks K-Boy, I’ll look into that. Not a bad bit of trading there! Hope it continues when you go live.
Quick update guys. So far 11 days traded on the basic FPC, no losing days (although there have been losing trades)for a total of 31.2% account growth. Will update again soon.
Kind regards,
Paul
Paul with the basic I am getting winning trades but still not getting the growth % you are seeing. You are running it on only the eur/usd but have you set your account exposure higher than your account balance to take more risk?
Hello traders! Update:
*PC Extreme: Starting balance of $5000 with 1+ month stats:
http://www.mt4i.com/users/fxprocloner/stats
*Trading Boss: Starting bal of $10K with 17 days of stats:
http://www.mt4i.com/users/tradingboss10k/stats
Trading another TB account with much more aggressive settings (16 pairs) Seeing some crazy returns but resulted in a couple of losing days (finally). What I’ve learned is you need to have the risk capital to back up severe draw downs. Otherwise, it’ll close out the biggest losers. Case & point…last week’s JYP…after the BOJ intervened it went on a 300 pip tear. However, the EA caught this trade and got it’s ballz kicked in and took a big loss. Yes…16 pairs way to aggressive. Will be cutting back when I go live. Good to learn the strengths/weaknesses. Overall still performing well @ 8.4% weekly, 1.62% daily ROI after 14 trading days. Also using a $50K starting balance.
The other 2 acct’s from above didn’t take the JYP trade so, still at 0 losing days.
Also went live with a $385 starting acct. Trading 2 pairs to reduce risk (E/U & U/CAD) Between 8/5 & 8/8, TB’s netted $246 for a 63% ROI.
As far as the ROI #’s keep this in mind. I’m finding any of the systems to trade a minimum lot size of .10 (mini) for any balance of $10K or under. Therefore, the smaller starting balance you start with, the larger your ROI% will appear. Once your capital reaches $10K+ for the start of the trading day, the EA will auto adjust/increase the lot sizing.
Again, very conservative but that’s a good thing.
Keep on keepin on….
Hi K-Boy, Wow! What a start for your live account. Makes my modest gains to date look tiny. Still, I’m not complaining. Keep it up, and good luck pipping.
Regards,
Paul
Wanted to give an update after the close of today’s crazy NY session. As you may be aware, the US$ tanked after the Fed’s int rate announcement, causing most every pair against the $ to rally big. Wondering how you guys did on this?
As you may be aware, this EA doesn’t do too well in hard trending scenarios. Does a decent job of protecting against losses via Martingale strategy, but this only works as well as your trading capital/free margin to absorb the ongoing new orders filled.
The aggressive Trading Boss which had a closing balance yesterday of $62K from a starting bal of $50, lost about $20K as there was not enough free margin to handle all the new orders the EA was trying to fill as most all the trades were going hard against. Therefore, major close out of all the big losers. Again, too many pairs trading @ 16. On good days it’s incredible as yesterday had it’s best day of $3600 or 7+% ROI for the day….crazy.
The conservative PC, which trades 4 designated pairs did OK by still producing a winning day of $12. Now at 27 days without a losing day.
http://www.mt4i.com/users/fxprocloner/stats
The 10K Trading Boss from above also had it’s first losing day, wiping out all it’s gains and now in the red by 11%. Again, same issue of trading too many pairs (9 pairs).
The small live account I just started last week took a good hit and lost it’s gains and in the red by 30%.
This is why you demo or trade with a small live acct right? Still think this EA’s a gamer. Freakish movements like today are rare but must be prepared for it. In my case, I’m learning I’ll need to scale down on the # of pairs to trade. Seeing that the potential exposure can be very damaging. or, shut down the EA during turbulent days/weeks like this week. Even this system is not immune to it.
Too bad FPC doesn’t include guidelines to help us adjust the risk. On one hand, the minimal adjustments allowed on the EA is nice and eliminates potential errors/risk but all they told me for the Trading Boss is it works on ALL pairs.
On with the fun….
The more I look at results (and not just mine), the more I am convinced to remain just with the FPC Basic. I wasn’t too sure about letting it run on Tuesday, but decided that the market was calming ahead of the Asian opening and I am now getting more and more comfortable with the way it trades, so I let it run. Not too shabby (once again) it delivered 1.3% on Monday, a whopping 6.5% on Tuesday (following Bernanke’s ramblings) and a respectable 3.8% today. I don’t think comments out of the Fed had any bearing on Tuesday’s results, as long as you have a ranging market, FPC Basic will deliver. I am still waiting to see what happens if a strong trend appears, but fundamentally, that’s unlikely to happen if you trade the EUR/USD pair during the Asian market (all sorts of reasons for this, and I won’t go into them here). So, for the rest of August, I will leave my account at $1000 (plus profits) and if all is well at the end of the month I will increase this. We shall see.
Kevin, I don’t understand why you are getting smaller profits either. I set my account balance at $1000 and set the GMT offset to match my broker’s (GFT) server, and did not change anything else. Are you running other FPC products like K-Boy? Or have you altered any of the other parameters? Let me know.
Regards,
Paul
Hi Paul,
Liking your stats. Appears FPC basic and Extreme (4 pairs) are performing nicely during these trending periods. Rare to see it trend heavier than this plus we’re going thru some unprecedented times in the market. You’re right though, all about range trading vs trend.
I have another Grid trading EA playing the other side where buy/sell stops are placed instead of limits. Up 70+% ROI over 18 trading days. Obviously doing well during trending periods. However, it took a 50+% draw down while FPC was doing well. Which goes to show we can’t have it both ways. However, the thought is there to perhaps play both EA’s on different acct’s to hedge.
Think the key is to not play so many pairs so you never run the risk of running out of free margin. That’s where Martingale will fail. Your strat of 1 pair is very safe and looking reliable. Geez…a 3.8% avg ROI this week…in this market…outstanding Paul!
Hi K-Boy,
Good to see all is going well for you here. I have been reading just recently about balancing trades with multiple strategies/robots, and it seems that is what you are doing from your last post. Can you let me know which other robot you are using to counter FPC? I’d be interested in running the pair in demo to see how they complement each other.
Regards,
Paul
Just a quick post to let you know that my basic FPC robot has just (today) concluded a month’s trading on a real account. Although is has had quite a few losing trades, it has not had a losing day. It has now closed off today’s trading for a respectable 59.6% growth for the month, trading just 21 days (3 days turned off).
I’m going to keep running FPC on a $1000 (now $1596) account until at least the end of August as I still want to see how the trades are “managed” when the EUR/USD starts trending in the Asian session. If I am happy with that situation, I will increase the size of the account.
I hope these posts over the last month have been useful to those of you thinking about the tool, or at least been a minor distraction to the humdrum trading day. So much crap is posted on sites such as these, and often from people who have not even purchased the product that I think it’s important for us (K-Boy and others) to post REAL and FACTUAL experiences, warts and all, of the products we come into contact with as well as support issues, etc.
I will continue to give you (less frequent) progress reports and of course if there are any interesting developments I’ll let you know.
Kind regards,
Paul
This is great reading. I also purchased FPC and letting it run on demo account. I am going live as soon as the paper work goes through at my broker. so far running for 1 1/2 months has been a constant 3.5% – 4? per week.
My cloner runs on eur/$ and gbp/$ I am thinking about going the next one up and run 2 separate programs in real money just to compare the results. Thanks for this forum and sharing. It is hard to get results back from support and this forum helps.
Thanks again
Daniel
Way to go Paul. Just went live this week and have a few days under me now. Will report some #’s after 30 days.
Meanwhile, the demo acct continues to perform @ 42%+ ROI after 34 trading days or 47 calendar days. Averaging about 72% win ratio on 4 pairs. Still no losing days.
http://www.mt4i.com/users/fxprocloner/stats
Again, the key is to make sure you ALWAYS have free margin available for the draw down periods, which will come. Paul’s strategy of trading only 1 pair is very safe and the ROI’s been awesome. Again, this system’s about steady small gains banked everyday. Not going for the home runs.
Will continue to report when I can. Good luck to all!
@ Paul
You were asking about other EA’s. Been testing another Grid Trading EA taking the opposite approach to FPC. Using a buy/sell stop strat instead of limit therefore, going with the trend instead of range bound trading. In theory one would think it should be a nice hedge to FPC, perhaps if the settings were identically correlated. However, this EA’s setting is far too aggressive therefore, wild swings. It’s on 24/5 and runs out of free margin too frequently based on 4 pairs.
Needless to say, it’s been drawing down fast. At the same time, I’ve seen it come back in a hurry. IMHO, too wild for me. Will stick with FPC for now. If I see anything interesting will let you know.
@ K-Boy
Thanks, I appreciate it.
K-Boy the statement looks like the next step up on the forexcloner. I am thinking about stepping up to that tonight.
My account has been approved and funded. Is there any other advice you could give since we are going live about the same time?? Thanks
Daniel
Hey Daniel,
That is correct. Using both FPC Extreme and Boss. Extreme is optimized to trade 4 pairs only. Which is sufficient. Boss trades unlimited pairs. Again, the key is to make sure you have free margin if/when there’s deep draw downs. Various calculations to make depending on whether you’re trading micro, mini or standard lots. I’ve experienced draw downs of 8+ levels or about 200 pips. Gotta make sure to stay in the game or you’ll go bust.
Unfortunately, FPC support doesn’t offer a lot in help so be aware. Otherwise, I’m happy to help where I can.
GL
A good day to all,
I’ve been trading with FPC Basicsince mid August.
I’ve averaged a daily profit of +/- 2%, starting with an account of $500. set my trade time from 23:00 to 22:59
So far so good;
one exception, and it has been mentioned, with a draw down you have no safety except to close ‘Expert Adviser’. I failed to do so and lost $185,00 when the FPC hit a .07 trade, causing a .26 cumulative trade package valued at $374.00. Causing a shut down of all my trades.
I’ve re cupped the losses, since then I’ve shut down the FPC twice to avoid a draw down. Once the FPC is silenced, I adjust all their trades to provide a minimum of TP, and wait patiently for a reversal (success with both).
I have communicated with the support, they respond quickly, but they don’t give anything more than reassuring comments that my money is safe.
A 2% profit a day is good, but they will only increase the trade volume to .05 when you have an account of $10.000,00.
When your account grows, that 2% will decrease over time because they only TP with $1.20 per trade, regardless of the increased trade value. I did suggest that they increase the trade value sooner, therefore increasing the TP%.
I can also cancel a buy or sell limit when they get too distant from the trading value. It gets immediately replaced with a new one closer to the trade point. I am certainly disappointed with the lack of instruction received beyond the installation procedures. It won’t work without entering your account funds, yet nowhere you get this disclosure. I mailed them to receive this information. I will not expand to ‘Extreme’ as they don’t really give me the incentive and the positive information as to why I should. Therefore I stay with FPC as a background to my daily trades which I perform sparingly. Although my account has grown to $1000.00 in the last 6 weeks, that’s MY trades accumulated to FPC’s 2% a day. $1.20 a trade is growth ! better than the banks ! Good trading;
Hello again,
I don’t understand how some people can claim a draw-down of $1000 (cookie) and $639.85 (ALAIN) when it uses .01 lot sizes !
This is the first ever robot which has kept my account in the black on a daily basis since july 12.
Happy pips
Me again,
I have a question for the experienced Whiz-kids !
I noticed that the MT4i ( http://www.mt4i.com/users/fxprocloner/stats ), with a $5000 account, shows average lot sizes from .1 to .3. It’s odd; when the information I received from the support staff stated that lot sizes were only increased to .05 with a $10.000 account. Granted the MT4i is the FPC Extreme, but I don’t see where it should make any difference if I use FPC Basic. Anybody can explain the discrepancy between MT4i fact and “support info” ?
Thanks.
k-boy what broker are you using for your real account?
Appears fxsol is having problems. took three trades last night and took 1 pip each time while the demo accounts took same trades and received larger profits
@ Michel: Can’t speak for Basic but should be similar to Extreme/Boss. Extreme/Boss defaults to .10 (mini) per $10K trading acct or .01 (micro) per $1K. My setting on the $5K mt4i acct is based on a standard acct therefore, it’s going to trade .10 (mini) as a minimum/default. If the acct’s opened as a micro, it should start with .05 lot instead.
Hope this helps.
@ Daniel: I’m live with Trading Point, UPFX & AlpariUS. Will be adding a 4th acct with ATC Brokers. I prefer to use a true ECN/STP broker to make sure there’s no interference with the EA. Our daily gains are minimal therefore, should remain off the radar but in reality it shouldn’t matter. Keep in mind, I’m a US based trader so my options are somewhat limited. Alpari’s a (MM) Market Maker/Dealing Desk broker. However, I use this acct mainly for news trading but turn on FPC during the day when there’s no news.
Hope this helps.
Kboy
I to am a us trader not familiar with the brokers yoiu sent can you send an URL??
Thanks
Hi Found alpari looks like the other is off shore and can we as US citizens trade with them?
Should we talk more in person?
Sure but can’t post contact info on this forum so lemme know.
http://www.100forexbrokers.com/brokerchoice
@ Paul: How’s your live trading doing? Are you trading micro or mini lots? I’m testing a strategy between the two.
Thanks K-Boy, If I understand you right, A standard acct gives a 0.01 trade per $1000 account, therefore when I reach $2000 it should shift to .02. This is then contradictory to the info from support, unless they changed the format which they wouldn’t tell us anyway. hopefully this is applicable to FPC Basic. I am using ‘FXDD Malta’, a European broker, a branch of the ‘FXDD’ US. Cheerio
Michel,
You’re getting close….however, in order for FPC to trade in micro lots (.01), you’ll have to have a micro acct. Not all brokers will allow micro lot trading on standard accts therefore, you’ll want to make sure to double check with FXDD on this. $1000 account to start trading @ .01 lot, assuming u have a micro acct.
Hope this helps.
Hey K-boy, I do trade in Micro, Therefore I have Micro. thanks? My philosophical thought for the day: Bad news is bad for a currency, Good news is good for a currency; And then you have Forex !
Your thought for the day is right on for sure!
If you have micro then it should trade at .01 lot to start.
@K-Boy,
Trading progressing well, now up just over 73% since 19 July. I trade mini lots. The account was set up with $1000 and since FPC started running live it’s been opening an initial trade of 0.1 standard lot (or one mini lot)subsequent trades are opened in increments of 0.1 lot the biggest “pending” position opened so far is 0.5 and this was cancelled. The largest traded position was 0.4.
Hope that clarifies it.
Paul
Hi All,
Been trading FPC Trading Boss for 35 trading days/6 weeks live with 6 pairs now (was 12 when I had the margin call).34 days profitable, 1 loss day (a big one…margin call on 50/1 account). Wk1 up 5.5%, Wk2 down 12%, Wk3 up 4.3%, Wk 4 up 8.6%, Wk5 up 6.6%, Wk6 up 4.8%. % increases based on the closing bank of the week before.
Margin Level is the biggest problem if you have more than 1 pair at level 5or greater (seen level7 a few times). Support is non existant. I wonder if the EA is coded with a date to stop it working one day. Would love to add some changes to the EA in regards to open orders that are loosing money. Surely they must be able to close orders after they open others. That would reduce margin requirements and make the system a whole lot safer. Maybe I’m missing something, no nothing about programming. If it keeps making money I’m happy, just dont want another loss day!
Cheers
Rod
Rod,
Yes, had a couple of big losing days while on demo trying to figure this out as support sucks. IMO, it’s all about surviving those crazy draw downs which will happen on occasion. @ 1:50 lev it doesn’t give you a whole lot of room to work with therefore, I’ve found one needs to keep the # of pairs down to reduce the risk of margin call.
I’m live with 2 offshore accts with both a 500 & 300 lev. Therefore, I’m comfortable with 9 & 10 pairs. Lot sizing will have a big impact too of course (micro/standard). Also live with 2 US acct’s (50 lev). Pairs are kept to a minimum to make sure that blow out doesn’t happen. Think the key is to find that perfect combo of # of pairs to maximize opps while reducing risk.
No idea about reprogramming.
Hi K-Boy,
Thanks for getting back to me fellow trader. Just been stuck in a trade for 2.5 days on the E/J. Reached level 7. Trading with 5 live accounts. 3 old accounts at 1:50 leverage, 1 at 1:200 and 1 at 1:500. Gets very scary on the 1:50 accounts. Will consider changing broker to escape margin calls. 2 of my 1:50 accounts failed to enter the last Buy Limit order, the orders actually did not show on the screen! Closed the MT4 platform and restarted and the orders magically appeared but not entered. This meant 2 accounts had a lot further to go to hit the profit targets. All trades closed this morning with a big move up on the E/J. I can rest now. I still dont know why when a new order is activated and all stops are moved to the new order level they dont close any loosing open orders down. Why keep adding to the loss total when some orders will always close at a loss! I would love to get hold of the EA and get someone to modify it. I think it could be improved even more.
Cheers for now,
Rod
Have given the ProCloner Extreme version an honest try.
Started a live $500 account on 7-5-11 and used as directed only trading 23:OO to 06:59 GMT (Tokyo session). I was mostly down, so I set the ProCloner to trade from 23:00 to 21:00 (All sessions) and had mostly ups and downs. Farily constistant no great losses or profits. Finally srarted to make small consistant profits for a couple of weeks straigt and was up about $130 then $195 loss. Analyzed my losses and it seemed to do poorly on the USD/CHF, opening several trades from .01 to .07 at the same time. Had huge losses oerall. Tried removing USD/CHF but still kept gettin multipul trades on the same currency pair in lots from .01 to .03 with $45 to $60 losses per day. My $500 account is now down to $332.13. Today I’m pulling the plug on the ProCloner Extreme and stopping the bleading. Have asked for
a refund as they offered a 56 Day 100% money back guarantee.
RRefuned requested through Plimas/Forexprocloner
I don’t believe these trades are comming from the mythical pro trader – Jason Adams. I have never been able to get Forexoro cloner to provide the acutal trades for comparison oor get the IP address for their pro trader, Jason Adams.
James
P.S. The last thing I tried was changing my account exposure down to $250 in the hopes of not having multilple open posistions opened at the same time of .04, .05. .06, and 07. Wrong with my exposure set at $250 this progam had an open equity of $317 almost my entire account….
Hi James,
I do not trade with the Extreme version only Trading Boss. The only way you can make a loss on TB is if you have a Margin Call as the system does not work with STOPS or you close the system down manually, otherwise it keeps trading at new levels until you recover (if your margin holds out)
Rod
Hi James, not sure what your leverage is but on a micro acct @ $500, I probably wouldn’t go more than 2 pairs. Recalled calculating $250 should be enough to absorb an est 10 levels of DD…to be on the safe side.
I’m still in G/J after 4 days @ an 8 level DD. However, my free margin’s still good so all I can do is wait.
Just exited an CAD/CHF with a small gainer after an 8 level DD.
Gotta keep the free margin available for this to work.
Good afternoon.
After another week of trading. FXsolutions is not a broker to use. When the system is trading you will get FIFO errors. (First in First out) then the system can not get out of any trades in that pair the has multiple trades in. One has to manually close the trades. Trying a different broker .
Running 3 accounts seems if you change the working ours to be 23:00 gmt to 16:00 gmt the trades close out friday without holding orders over. Tying Forex LTD since that is where the demo accounts are.
KBoy is everything still going great with you??
I still have not received any responses to my questions to support
-daniel
Daniel,
Tried several different tweaks of the system and I’m finding it’s best to leave the trade time on the default setting. And of course not to get carried away with the # of pairs traded.
http://www.mt4i.com/users/fxprocloner/stats
As you’ll see here…after 46 trading days, no losers. Banked over 50% ROI.
I’ve tried many different settings (24 hr trading for example). Achieved over 50%+ ROI in 2 weeks however, lost most or all during the heavy London session (last night’s Swiss intervention). The EA trades during the slow periods of the market for a reason.
It’s no surprise you haven’t heard back from support.
Good luck!
Thanks for the update daniel. I had a disaster the other night, one of my live accounts wiped out by the Swiss intervention. 15 minutes to kill off 2 months of hard work. What pairs do you trade and what pairs do you recommend? I was having similar results to you before this mess. I am changing brokers…I was not aware of many of the shortcummings of FIFO and low margin requirements…still dont…was trading blindly.
regards
Rod
Sorry, thanks K-Boy
Rod
some comments on FPC Trading Boss. The shortcommings of the EA became obvious after it crashed my account. A good EA should be able to let you place a limit on how much you can loose before it shuts down. The EA Blessing lets you do this. Blessing also lets you apply different styles of trading to the base EA with ‘Set Files’. say you trade 4 pairs, each pair has a different EA based on Blessing, and each EA can be told to only trade with 25% of the account each, and you can set the STOP LOSS on each EA to what you want. If one EA crashes it only lost say 50% (Stop) of 1/4 of your account, not 100% of your account like what happened to me. The FPC Trading Boss has been exposed as a dangerous EA due to lack of control by the user. Watch out, all those good trades can be taken off you.
Rod
Rod, thanks for the insight. How many pairs were you trading on Boss? Yes, got killed during the Swiss intervention too. However, the FPC Extreme, trading 4 pairs remains safe with no losing days.
Paul, still alive FPC Basic? Have you had any losing days yet? How are your stats looking?
Hi Ken (and everyone else),
Just a quick response to Ken. I mentioned in mid August that I would post here less frequently (unless something dramatic happens) as I felt that I wasn’t adding any real value to the forum any longer. But, as you ask, I am still running live on the FTP basic, trading just the EUR/USD, and it is still producing consistent results. I still have not had a losing day, although last week I did have a day when FTP did not take a trade – for the first time.
I decided against increasing my exposure (putting more money in the account) for another month as it has so far only been trading during the European summer – which those seasoned traders amongst you will know is a period of low market volume. Trading volumes should pick up after 21 September (Bernanke’s next announcements) so I will look again at the end of September.
As of today, the original $1000 live account is sitting at $1959, or a little over 95% growth in eight weeks. Not retirement cash, but good beer money!
Regards,
Paul
Outstanding Paul! Becoming more apparent Basic manages to stay out of the occasional WILD swings. Very key!!
Hi everybody, I am still active and profitable. I’ve come to the conclusion that the owners of this EA are not aware of how it works. they probably bought this from some programming geek for the purpose to make money by selling the signal. They are not interested nor care whether this EA doesn’t handle draw-downs because they cannot fix it themselves; that explains the lack of support and the lack of updates. Its really too bad, because this EA could be developed to a more secure format. I guess I should go and find a programming geek and do the same …… neah, there are already too many of them. Good trading and watch those steps (draw downs)LOL.
Hello everyone I am still getting great results although my attention has been on other things. Unfortunetly the small account I was running the basic on I added an ea that was doing very well until a I forgot to shut it off before a news release and the account was killed. But the good news is the fpc basic on that small account has done about 50% every 4 weeks running on the eurusd only. I have now started it up again but have it running on the gbpusd as well and so far in the last week it has averaged 2.4% a day. Paul why are you only using eurusd did you test it on the gbpusd already?
have tried to stop the subscription on the fpc for two months and they still take the preiumn out every month so how do i get these people to stop taling my money ??????i think this is a scam
@ Paul & Kevin,
How’s the E/U on Basic playing out lately…namely after the FOMC meeting today?
Extreme & Boss are both hurting today.
This prodcut is a scam. I bought it at 1 usd and it run for 2 months no problem. It is dangerous ea as it is base on martingale no stop loss, for sure there’s no human intervention as claim in their website. Out of 20 trading days it probably make money 19days but 1 day good trend on the pair running the ea enough to kill the account. I have run it for 2 months on 2 demo accounts different brokers on default setting (default setting is to trade 1 hour before US close and asian morning) and both growth to more than 100% in short time, look very impresive but was margin called, one of them happended this week. Look at the trend in all pairs you will know why.
Good luck for those intend to run this ea on live. Watchout for the intervention action like USDCHF..
Hi K-Boy sept 22-23 I had a near margin call the basic made it to .04 lots on my small account of $140. but survived and now on 26th is at $160.00. It went a 82 pips before turning and allowing profit. I am going to deposit more into the account to $1,000. but set Account Exposure to 500 and see if it will start trades at .05 instead of .1 and if it does I will settle for 1% profit per day instead of the 2% I am getting right now.
Ed perhaps you should only run the EA on euro and that will reduce your exposure infact I think I may do that as well because I was running like that in Jul and Aug and still making 1% daily.
Paul I cann’t seem to get the basic to enter anything higher than .01 even with acounts over 1,000. and I have emailed support on how to increase risk but no response so far. Perhaps its the broker and type of account. What broker and type of account so you have?
Hi guys just some advise ,I have been using the forex pro cloner basic and it is just a program that enters a trade at 20 points either side of where the market is trading at the time it starts witch is usually about 8pm gmt every day.It take a reverse position and continues to add 1 contract every 20 points as the market goes against it.It uses NO STOP.this worked fine for a while until it lost 5500 dollars in two trading days wiping out the account.There is no support and No real trader.SAVE YOUR MONEY. Just my experience.
wow Pat thats a bummer were you using just the basic? I’ve been running the basic since july 9 and have had only 1 losing day and it lost a total of 2% of my account this was just a few days ago.
Hi all,
I thought that maybe it’s time to give you another update, and also discuss some of my thoughts on the product now that I have been running it on a live account for almost three months.
Firstly, to Ed, Pat, and others who have “blown” accounts, believe that it’s a scam, and generally run the product down. I can say only this: FPC basic, running on the EUR/USD pair only and running “only” during the hours recommended by the suppliers has yet to give me A SINGLE losing day – either in demo or live. I have not tried any of the upsells, I have not tried running it on any other pairs and I have not extended the running time outside of the recommended range. Sorry guys, but for me it’s a winner. And, although some of you can spell Martingale, you obviously haven’t got a clue what a Martingale progression is, or how it works.
@Kevin:
Originally, I was running FPC on a mini account with an initial $1000, and the AccountExposure set to 1000. With this configuration it was opening its first trades at 0.1 lots with subsequent positions increasing by 0.1 lots at a time. The largest positioned opened and traded was 0.5 lots. However, a few weeks ago, I converted the account to a micro account and was surprised to see the EA open positions of 0.01 lot. One thing I will agree with everyone here is the fact that their support is completely nonexistent. Mailing them several time is a waste of time and simply does not produce results. So, I decided to increase the AccountExposure to 10000 and see what happened. Now, the first position opened is 0.1 lots (which is where I want it to be), but subsequent positions are 0.13, 0.16, 0.19, 0.22, 0.25 0.28 and the largest (so far) of 0.31. Now this series when the trades opened from 0.1 to 0.28 all trading (the 0.31 traded was not executed) resulted in the larges negative move I have seen with FPC (if memory serves me) of over $800. But, the use of the larger trades – as I’m sure you know – has the effect of bringing the target price closer to the price action and the trades all closed for a net profit of about $15.
A while back I said that I would consider increasing the size of my account once I was happy with the results. But I have now changed my mind. And this is my reasoning. I am a full time trader who derives a steady, consistent income from “manually” trading the forex market. I trade 4 days a week (Monday to Thursday) during the UK session, and, if I’m having fun I will trade through to well into the US session which, to be quite honest is quite often. As trading is my business I have a number of overheads including equipment (2 desktops, 4 monitors, a notebook, 2 UPS’ and various other crap), 2 internet connections (one for backup) – which here where I live in South Africa is expensive, and various subscriptions, etc. So my thinking is this: FPC averages a profit of just over $27 per day as I trade it now. That’s about $540 per month. And that my friends covers ALL of my trading overheads, with a little change. So, I let my account double to $2000 (to protect against an unusual trending market), and then draw off all other the profits, leaving everything I make from my manual trading as pure profit.
As I said, I trade manually and, although I have tried at least 20 robots in the past, this is the only one I am comfortable trading with – even though the support is nonexistent. By the way, whilst I have been writing this, FPC has closed off its second trade for the day at $13.30 making a total for today’s trading of $25.50, and, as a good friend of mine would say, “thank your mother for the rabbit”!
Cheers for now,
Paul
Hi Paul,
Good stuff as always. Curious how your Basic’s performing with this week’s 400+ pip uptrend with the EU pair.
I’m thinking it may be wise to turn off the EA for Friday-Sunday. Been burned several times on the Sunday spike.
Hi Ken I have the basic on 3 accounts which only have around $100.00 and since oct 8th they have increased by 14-16%. running eurusd and gbpusd. These accounts are mini accounts and today I increased one of them to $1000.00 so it could open at .1 but it wont, the highest I can get this ea to open with is .2 by entering 2,500.00 in the account exposure. I have tried everything even emailing the nonexisting support. So it looks like I have to keep my accounts at $200.00 and when I have $100.00 profit I open another account with .01 lots until balance is 200. then fool ea into trading .02 start. And continue the cycle what a pain. I don’t understand why mine wont increase to open at .1 with a $1,000. balance. But as for your question mine seems to be able to trade through any trend and the highest level entry I’ve seen is .06 on sept 29 and my draw down was 33% and the move went 156 pips. Also the ea doesn’t run on Friday because there is no asia open that day. I do know that for Americans with only 50:1 leverage you must cary a larger balance to avoid a margin call. These 3 accounts are with Exness FX and even though I can not get my lot size up the EA seems to perform better with this broker than others I have tried and I have tried Iam FX, Go Market and Fyshe Global. This is the only EA I trust and feel confident not to baby sit. Paul if you wouldn’t mined I would like to know what broker you are using that you had the mini account and getting .1 open with 1,000. balance, it’s a pain opening all these accounts to be able to grow the capital.
Kevin,
If you want to start with mini lots (.10) regardless of your acct size you’ll have to have your broker switch your acct to a standard acct. From what you’re saying it appears you’re on a micro acct. This way the EA should default to .10 or mini lot, which is .10 standard (same thing) The EA will default to .01 per 1000 if you have a micro acct.
Paul & Kevin,
What’s your acct leverage?
Hi Ken,
Yes, some good thinking there, if the markets don’t feel or look right to you – don’t trade them. As there were bank holidays for both the US and Japan, I shut down my trading (including FPC) on Friday last week. Then decided to take a complete break from trading for a week and do some other stuff. I will look to go back on Monday.
All of my accounts are leveraged at 200:1. But that doesn’t mean that I trade using the leverage.
Paul
Sorry Kevin, I missed your question. I use a micro account with $2000 capital and leveraged @ 200:1. The AccountExposure is set to 10000, this gives the trade progressions I posted above. The broker is GFT UK.
Paul
Hello Ken and Paul Thank you for your kind replys. The accounts I am running are mini accounts I know that but have not tried it on a standard.I will download a demo from GFT UK and try that.
I cann’t believe it but GFT Global UK doesn’t take Canadian clients and redirects us to an american branch which is very different and didn’t work. I did find a broker that worked a $1,000.00 account opening 1st trade at .1 and subsequent trades at .1 incriments so second order is .2. But this Canadian broker has very low leverage. If anyone else has any advice with a broker that this ea will open trades at .1,.2,.3,.4 incriments with a $1,000. account kindly post. It is getting extremely frustrating. I don’t want to have 250 or more $100.00 accounts as this ea double every 4-5 weeks.
I fugured out my problem to having an account with $1000 balance but starts trading with only .01 instead of .1 I just opened 10 eurusd and 10 gbpusd charts and add the ea to each chart puting 100 in the account exposure and change the magic number per set. and it work perfectly.
Ken I have this in several brokerages and Exness is 1000:1 Tadawul is 400:1 IamFX is 400:1 and Fyshe Global is 100:1
Well I findly found a point where this ea can loose and I guess I had too much faith in it for it had not had a losing day yet. Today It margined out several accounts very sad. I still have money in them but it lost up to 75%. It is very strange for there have been 150 pip moves in the past and it always profited. The strange thing is 2 little accounts that were only with the eurusd profited and by quite bit from $54.80 to $61.80 and the other from 55.50 to 59.00.
Paul you only use it on the euro how dod you do this oct 30-31 with the move down from 1.4150 to 1.3970?
I wish I had discovered this place earlier,glad to hear that some of you are making a profit good on you.
I never used the system at all and would have if support(Support?!?)assisted,hell they WOULD NOT answer a question like “what are the results thus far?”
This made me re-appraise the “EA thing”,and I have decided to take responsibility for my own results and skill up further.
Good Luck to you all.
I have now recuped my losses and am using it only on the eurusd and also with less risk. In order to recupe so quickly I did add funds now instead of trying to achieve 2% a day I am aiming for around 1% so 15-20% monthly. No longer trading market open on sundays and a 4 day work week suits me fine.