With more experience now, I want to add to my prior comments. Our testing shows great success using a MIG account from Switzerland, and is much better than any other. BUT you never want to run it outside the suggested time range of We had little success with IBFX and Forex.
Adam Bouska Photography - Ryan Barry - part 2
If you can duplicate it on MIG - lucky you!!. We are searching for ways to get back to that setup and to be able to control lot size - but be very careful as a bigger lot size without the right leverage can hurt performance or you can run out of equity sometimes - fast.
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My prior rating has to change to a 3, for now. If it were the MIG setup I give it a 5 again. It is one of the best ones I have bought - one of many unsuccessful ones. So far it has made money every day and does about 5 or 6 trades a day.
One account made about p net in 3 days on live account. Only difficulty seems to be to get it to trade the lot size you would like. Losses have always been smaller than gains so far and hit rate I estimate at 70 pct. Ran another live account for about a week and results are similar. For example, after taking an initial long position with 0.
And this was just in the last week, within a month after launch. Purchased the ForexProCloner Extreme version on used on two practice accounts with FXCM. Had good results so opened a live account with then on There were a couple of days last week I had no trades because my EA was turned off.
It only trades the 4 majors. I have had good communication with FPC support staff. Always have gotten a reply to my questions answered quickly. I'm not a pro trader so I can only supply my results so far. Will report back when my trial ends. I was one of the first to bought it. 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: The product is a scam. There is a HUGE amount of upsell after you purchase the initial Cloner EA.
After you purchase it you get offered the Extreme version which works on multiple currencies. 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? 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?
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 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.
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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 have already put in a request for a full refund through Plimus the merchant site used.
Their first reply is a classic. 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 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 believe you don't have much to do he.. The fact that this is not what it suppose to be, mainly trade copying software stands. I did buy it and for the hell of it did put it on a demo. It is a grid trading EA stolen from some poor guy somewhere. I have seen the code. Now the bad thing about grid trading EA's is that when market trends strongly and unexpectedly they all blow your account. I have used it all three days with positive results each day using two different brokers and the GU and EU pairs.
There was no manual other than a download instruction video to install the EA using a autoinstaller. Support will answer your questions within 24 hours and have done so for my questions. I currently and running this on a small live account and a demo account with two different brokers.
You do need to set up the settings on the EA correctly. The most important thing is to make sure you have your broker time offset to GMT set correctly. The grid that is set up occurs at 7: If you have your broker offset incorrect you may have your grid setup at the wrong time. This appears to be an EA running and I am wondering if they are controlling the grid settings and will close the trades manually if the market breaks out of the grid and heads in one direction.
As of now the three days that I have ran the system has produced 2. I think this is probably a scam. They just launched this week and I bought it. All the indications are that it is a scam. It has lost over pips in the first 24 hours and for some r. Its kinda like an EA but for some reason it trades the wrong way.
It puts in two pending orders like a news trade, but they are upside down. The buy is on the bottom and the sell is on the topside. Its kinda like a contrary trade.
Anyhow its a crazy deal and even if its not a scam its not gonner make much money the way it works now. It has lost over pips for me so far. Fortunately only 10 cent lot sizes. Anyhow be careful if you are convinced by the nonsense advertising video. If you do order it. The marketing is more like some downmarket weight loss product. So guys take it easy. Unbiased Forex Broker Experts. Review and Ratings Forex Signals ForexProCloner. Live Discussion Video 0 Court 13 Widgets More Live discussion Join live discussion of ForexProCloner.
Video Your company video here? Court cases File a case Open 0 Resolved 0 Not guilty 0 Guilty 0. Let other traders know if this service is worth checking or should be avoided.
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