Forex Real Profit EA Review
Today’s review will be about such a weird presentation of Forex Real Profit EA. First of all, we’d like to sum up the core intel about the robot.
Forex Real Profit EA has a one-page presentation that’s enhanced by the halved photo of this dude and USD mark.
We don’t know how it can raise the sales, but if he wants, let it be.
The first we see is this moto. We’re sure no professional traders will reflect on this. It was written for an average person who doesn’t know what Forex is up to, so, to get attention, the dev decided to talk about money instead of EA’s trading strategy of real-account trading results.
Trading Strategy Explanation
Key EA’s feature the dev systemized in the list:
Average win 25 pips, Average loss 24 pips, Winning percentage 61%.
The Stop Loss levels are between 50 and 200 pips, depending on the performed strategy.
Dynamic Lot Size is automatically adjusted to “the market conditions.” Usually, it sets, depending on the account balance.
The EA has got optimized risks for each strategy.
There’s a High-impact-news filter for scalping strategies.
The EA doesn’t open trades if the average daily range or/and the average short term range are higher than maximal limits.
It has a Stop Out feature if open trades’ losses overtake 7% of the account.
It has a Large Spread and slippage protection.
There are no martingale, grid strategies, recovery mode, nor trading over the weekend.
The robot uses six different strategies, two for scalping on the Asian session, one for scalping on trend all day, and three breakout strategies.
The EA supports trading on two symbols EUR/USD and GBP/USD.
Because of scalping strategies behind, we have to run the EA on the low-spread accounts.
We can use the robot on any broker without restrictions.
The EA received Dynamic Stop Loss and Take Profit level placing.
Backtest Data Analysis
Searching across the whole site, we couldn’t find any sign of backtesting reports. The developer has decided not to provide them, probably because of many real accounts he runs. So, there is plenty of information to check and analyze.
Live Trading Data Analysis
We have four widgets with three working accounts.
All of them have the same problem - after the mid of 2018, they started losing money and wasting an account balance.
Let’s talk about a real USD account on IC Markets. The EA trades with 1:500 leverage through the MetaTrader 4 platform. The deposit funds amount to $2694. The account was deployed three years ago. The total growth equaled to +656.89%. The monthly gain is 2.47%, with a quite high maximum drawdown (17.57%).
There were performed 1147 trades with 3122 pips. The average win (20.95 pips) equals the average loss (-21.11 pips). The win-rate for longs is 51%, for shorts is 60%. The average trade length is 5 hours. The Profit Factor is mediocre and equals 1.26.
Most deals, as we can see from the sheet, were closed on the EUR/USD symbol. The win-rate for it is 61%. In opposite, GBP/USD has brought only 38% profitable trades. It means the dev doesn’t care about updating the EA nor stopping trading this symbol.
As we can see, from all strategies, the most favorite is scalping during an Asian session.
It’s kind of rare to see, but Monday isn’t a trading day for the EA.
It runs the account with 5% risks, not less.
As we can see, SL and TP are almost equal. As we mentioned, the EA has a mediocre win-rate, so trading with these SL/TP settings is a way to waste the account balance slowly but surely.
2020’s trading results show that EA can provide stable profits, and no one knows if there is another +12.71 month to recover these lost-in-a-row months.
Other accounts have the same results as well. Something has broken in the EA in the mid of 2020.
The EA sells for a $200 annual price. Buying a subscription, we can expect:
The EA provinces “safe and consistent” profits.
There are 3rd-party verified trading results provided
We’re offered by the knowledgeable support and money-back-guarantee.
There were no people’s testimonials, but we could find his signal accounts on MQL5 that no one follows for $30-40 monthly. It tells everything about their quality, EA performance, and him, as EAs designer.
- Real account trading results provided
- Strategy explanations provided
- A real person is behind the EAs.
- The EA started wasting accounts after the mid of 2018
- Win-rate is low
- Win-rate for the GBP/USD currency pair is horrible
- The Profit Factor is very low
- Very weird SL and TP settings with the win-rate like this
- The last three months have brought significant losses
- People don’t want to follow his signals.
We’d like you to avoid this EA. There’s nothing that would convince us that it’s good to go. We have six strategies on the board, but 90% of the time, the EA executes an Asian scalping strategy. It’s noticeable that there’s a quite low “Profit Factor” and win-rate for a scalper EA. We’ve seen many of them that are performed with 80%, even 90% win-rates. The low win rate doesn’t allow to run a scalper with high risks like this is usually going on. The offer is not great at all, as well. We have to pay $200 not for a copy, but for an annual subscription, and this sucks.