Forex BulletProof is a new Expert Advisor from the creators of Forex Autopilot and FAP Turbo.
Unlike its predecessors, Forex BulletProof is developed to be a safe trading solution. You will rarely see this among EAs, but this one actually promises a realistic 5% return on investment per month (as opposed to hyped up EAs that promise millions). So its promise is consistent low risk profit every month.
There are two upsells – addons to the EA. The first one is the opposite to the main EA, that is an addon that makes the EA aggressive and risky that tries to get as many pips as possible. The second is a combination of manual trading systems.
Additional details:
- Cost: $149
- Currency pairs supported: Multiple currency pairs
- Guarantee: Clickbank’s 60-day money back guarantee
I’m going to see what shows up about it on Peace Army and a few other sites I check up on. Real world experience is the worlds best teacher you’ll ever have, but since we can’t spend the time and money testing dozens of EA’s to find ‘the one’ the next best thing is reading reviews from others. It’s even endorsed by respected and successful forex trader Vladimir Ribikov (of ‘SRS Trend Rider’ fame) who by all appearances on the net seems to have a genuine and passionate interest in all things Forex.
Gene,
I too have great respect for Vladimir, but he had also endorsed the BlackPanther EA which eventually busted my trading account. Nevertheless my interest has been piqued by Vlad’s promotion of Bullet Proof. Certainly I will avoid the upsells.
Avoid Forex Bullet Proof like the plague. It is a cheap and nasty EA.
In the only forward test I’ve seen it made a profit of $5 in a month on a $5,000 account. At that rate it would take more than two years to pay for itself!
On the backtest it had a drawdown of 82%, which is enough to destroy you account easily.
No other EA has had this much spam. If you got suckered into buying this EA hit the refund button now,
No trades so far,hope this actually works!
@Peter, where did you get those numbers from? Certainly the sales page has nothing like it.
There’s a good reason why you get so much more emails, this EA is from people who have already created products that worked in the past, unlike 99% of products that come and go every week. At the very least they’re worth the benefit of the doubt.
If you’ve bought it and don’t even test it properly, then the question is why on earth are you buying these EAs at all?
Gene,
I also trusted Vladimir, but I will do it never again!
He highly promoted the Forex Secret Agent and the NoNameBot.
FSA did not work and NoNameBot is a money destruction EA with a risk/reward ratio of 30 to 1.Average profit +2.18pips, average loss -64 pips. I traded it one week live with samll risk and had 2 full losses. They do not show this losses on their website statement. If you would trade this EA with their rcommended lot size accordingly to your account value, you would have lost 52% of the whole account in 1 week.
The developer of NoGainBot is friend of Vladimir.
I am absolutely sure, he has known all the facts, but it did not matter for him.
Bulletproof uses a high risk Martingale strategy with a pip step of 10 and a lot step of 100%. Take profit = 7, Stop loss = 500pips.
They explain absolutely nothing in the manual.
For example: If the EA open an EU long trade at 1,2700 with 0,10 lots (10.000)and if the price move down 10 pips, it opens a new trade with 0,20 lots. If it moves down another 10 pips, it opens a new trade with 0,40 lots and so on. if you want to trade USD/JPY, your account must have a minimum value of 4000$
Trade example:
Open long at 1,2700 0,10 lot
1,2690 0,20 lot – 10 pips – 10$
1,2680 0,40 lot – 20 pips – 30$
1.2670 0,80 lot – 30 pips – 70$
1,2660 1,60 lot – 40 pips -150$
1,2650 3,20 lot – 50 pips -220$
1,2640 6,40 lot – 60 pips -370$
______________________________________________
At this point 12,7 full lots were opened with a value of 127$ per pip!
Usually you have a leverage of 100 on your account.You can trade max.1 full lot per 1.000$ of your account balance.
Bulletproof recommend to trade with a leverage of 500!!!!!
I think everyone know now, if this EA is “the only one” or not.
It is obvious that EA in general dont work, I have tried several robots and they all seems to work at first and then you see going down and losing more than when you started with.
I bought Forex Bullet Proof. I’ve been demo testing it since 9/1 on a iamfx $10000 acct, using 1:100 leverage. The account is up $209.37. It’s being traded on both the Eur/Usd and Usd/Jpy charts. It’s placed 53 trades with 34 wins versus 19 losses. The average profit trade is: 11.81. The average loss trade is: -10.11. So far it’s been a 2:1 win ratio. Profit factor so far on my account is 2.09. Absolute Drawdown: 0.00
Maximal Drawdown: 95.70 (0.94%)
Relative Drawdown: 0.94% (95.70)
Last trade that was placed was on 9/16. Hasn’t traded yet this week.
I’m gonna demo trade it for a few more months before I throw real money at it. I’ll keep ya updated.
Bought it for about 3 weeks and had it running LIVE. Made $30 dollars on a $700 account size of leverage 1:200 trading at 0.05 lot size.
I tested with other several accounts, it seems to be extremely sensitive to spreads therefore will not trade when its suppose to.
I had very little luck with Forex Bulletproof. It took a few trades for small gains then went on to take a few more trades for larger losses, then stopped working all together! I purchased it through Clickbank. When I requested a refund the vendor changed it tech support. Whenever I change the ticket back to refund the vendor keeps changing it back to tech support! THEY WILL NOT ISSUE A REFUND! THIS IS A SCAM!
This is Mike. I left comments on the 9/21 about my success with bulletproof. When I left that comment I was up $209. The current account is now up $378.74 after commissions. Before commissions: $574.17. 5.74% monthly gain before commissions. 3.78% after commissions taken out through iamfx for the month. 92 total trades. 56 wins/36 losses. Average profit per trade: $15.15. Average loss per trade: $-13.04. Average 2:2 ratio consecutive wins:loss. Profit factor: 1.81. Absolute Drawdown: 0.00 Maximal Drawdown: 196.94 (1.87%)
Relative Drawdown: 1.87% (196.94)
Last trade closed: 9/30
Hey Guys,
Im testing FBP on my live-account and I dont now what I should think of it. First of all: Forget in this case the Backtest. Its performing on M1-Chart with modelling quality of 25%. This has absolute NOTHING to say. Backtesting each scalper wich have an TP under 25 Pips is absolutely waste of time, especially in M1, because the tick-data-quality of MetaQuotes is more than worse. Pro of the EA: Refund Policy. @John: Use your Brain -> purchase with Paypal and your safe, Refunds guaranteed. Plus: I haven´t found a single testing-accounts wich was blown by the ea. Forex-Reviews-Rated, Forex-tester, Myfxbook, etc. all clean. I will report results, testing on an ECN-Account on FXopen. 5900USD with 0.1 Lot Risk. Good Trades to everyone!
i know nothing about this stuff, bought bulletproof due to a friends recommendation.
$550 in for two weeks, now at $572. ill update again.
My account was burst on Sep 1st 2011. Awaiting for your response to explain how come this EA is not like what you promise? Not Bullet Proof.
After first couple of days busted my REAL money account with small risk and correct settings. Very hard to get a refund. Can’t really recommend. I personally prefer something else than martingale strategy.