I'll just add to this. If I was an EA marketer, I'd have hundreds of EA's running on hundreds of accounts with a few hundred dollars in. Every time an account blew or suffered an unacceptable loss, I'd close it down and open a new one with the same EA.
Every time I had an account that had been running without a serious loss for a few months I'd wheel it out as my latest 'Super Duper Never Loses EA' and do a marketing pitch on it. That way I'd always have something in the pipeline that looked good.

Sounds really cynical but I bet that's how they roll. The marketeers ( many of whom frequent this site and no doubt read the posts ) know that people are sick of the old backtest/demo account pitch and are now running live accounts to convince people to buy. You can trust that they have a whole new case of tricks to pull from to do this and multiple accounts will be one of them.

Here's what I would like to see before I next buy an EA ( and indeed what you can get from some EA sellers ).

1) A ten year backtest with tick data.
2) A successful demo account traded for a period of several months
3) A successful live account traded on multiple brokers - some of them known as definite ECN brokers - for several months.

There is no reason to do this as some of what I would call the 'indie' EA developers do this very thing. If they can do it the 'big boys' can. If they can't then they're hiding something.

Hi Steve,

Point taken, comparing to a grid trading EA wasn't a good example, I just wanted to say that a 330 pip SL is not all that shocking to see. The impact of a 330 pip SL should be factored into the MM. I wouldn't open a trade where 330 pips would represent more than 10% of my equity, to each their own risk threshold so just adjust accordingly.

I want to go back to a point from an earlier post, if an EA has good criteria for opening a trade, it would normally go in the right direction and take a profit.

Its another thing if an EA opens trades, set a 1000 pip SL and wait for it to come back around and TP. With this, some trades will stay open for extended periods of time waiting for it to come around. But that doesn't seem to be the case here. The 'average' holding period is about 10 hrs. It varies but you can see that by clicking the month in the bar graph at the bottom of the trade results and the stats are there.

If we could I'd like to see how many SLs this would trigger if the SL was set at 150 or 100. cdforex, are you able to see that in your table?

Another thing I'd like to see if possible is what's the average drawdown during the trade.

For those who have bought it, Does Leo Trader allow you to change the TP/SL?

Does it trade other currency pairs besides eurusd and gbpusd?

What other settings can you set? I take it risk and lot size are user configurable.

What's the default risk setting?

Thanks

You're wrong. Your risk is 330 pips


pipsquick1957 posted:
    
forexma posted:
    Wake up guys, stop dreaming!
The 330 SL is real and it's there to take your money away from you.
The average win is ~15 pips so the RR is ~22:1.

If you don't believe take a look at this particular trade which was held for 9 days and went nearly 300 pips south before it went in profit.

10.18.10 22:40 10.28.10 17:10 GBPUSD Buy 1.20 1.56049 1.59499 1.59327 1.59499 17.2 20.64 9d 3.96%

22:1 RR is terrible and it's a matter of time a disaster to happen.

All poor RR systems look good in the short term and always fail in the long term.

THESE GUYS ARE NOT PROFESSIONAL TRADERS, THEY'RE ONLY VERY GOOD PROFESSIONAL MARKETERS.


 Solar, you may be right sir, but the way that I look at it is that its a 60 day money back guarantee, and its Click bank, so for me this is the 4th EA in the last 3 months that I have bought and have returned the last 3 so far, lol.

  But I dont have anything to lose at all except for some of my own time setting up the EA, and if I return it I will have my refund in less than 2 days from Click Bank, so my risk is ZERO.

 Chances are that Its probably a dud, but will never find out unless I try it for myself.

I'm very sorry to say that guys, but I have been watching Leo Trader Pro recently as well and there seems to be a conclusive proof that we have all been scammed. I have submitted this to ForexPeaceArmy today as well.

http://leoscam.blogspot.com