i rented this EA by mql5 and this is my review..be careful and stay away
I rented the EA on last Sunday for 3 months after I have had long chats with the coder. He told me that the EA is secure and safe by showing me a lot of back-tests and demo accounts.
He is using another version in his DEMO account and selling newer version.
- Be Careful there is no REAL Account, which means the coder is not sure about his product!.
- I have differences in lot sizes and some trades. (I use my EA according to the seller instructions, so, why I have mismatch results or at least very similar ones?).
- Before I rent it he was very helpful, but after that he deleted me from Skype and didn’t reply to me. On mql5, it takes long time to reply.
- When I told him that I am going to write my feedback about losing 20% in a day (using promised safe settings) then he said it was wrong trades and he will make skype group for EA users. to tell them about those 'wrong trades'. The Expert Advisor need to close orders manually (so, it’s not full auto EA). You may see the comments.
- EA uses huge stop lose (1500 pips and more) which practically means it works very similar with no stop loss !.
- After I asked him to stop selling his EA to save people’s hard earned money, he said bad Words to me.
The trade result was -20% in just one day. He commented on this, it is normal to lose such percentage !!!.
Honestly, I thought to much before writhing this feedback, but I think, it is better to tell the thought to not make others lose their money. SO, I ADVICE YOU TO STAY AWAY. I will continue using it on demo. if I get better results, I will update my Feedback for sure to be fair.
*** UPDATE 12/08/2015 ***
The DEMO account of the Seller (4 Open Trades)
MY Account thats well done of the setting according to the seller instructions (zero trades)
he dleted me from skype and dont replay to messages here in mql5.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.