REV Trader PRO REAL Discussion

I have now had 6 straight losing trades on AUDUSD in the last 48 hours, still waiting for response from Doug why these trades are triggering for me and not on his account. I may ask for a refund soon. Luckily this is only in DEMO.

fxtrader10 posted:

Jaysfxbook posted:
@fxtrader10 where did you find that offer? @revtraderpro maybe some undecided potential customers would feel more comfortable buing into your system when being charged a monthly license fee rather than a one off payment as this would assure that you've got an ongoing interest in keeping it updated and profitable in the long run.

It came from an email from one of their reps. It said:

'REV Trader PRO is a highly successful trading robot that follows a simple rule, Trade with the Trend. If the price is trending and the market hits a road bump, odds are in your favour of the trend continuing.

SynergyFX can exclusively provide this EA to you for a free 6 month trial just by opening an account and funding it with $5,000, a saving of at least $700 on the actual cost of the EA. This EA has over the past 2 years returned in excess of 100 percent of the original equity.'

So it seems they just delay you spending $700 for 6 months. I actually had already purchased the EA so couldn't take up their offer.

Thanks for the info. Unfortunately the fact that Synergy is pitching it with the hope to lure potential clients into putting more money into their trading accounts doesn't make the charts/balance sheets published by revtraderpro here more believable.

Hi fxtrader10 ,

I`m looking for an EA. It seems this one the most promising.
May I know how long you have this EA and what is performance?

I`m also one of the user Megadroid and PIP JET, with bad experienced.

thank you.

regards

Well said fxtrader10...it would be greatly appreciated if others could refrain from 'bad-mouthing' the developer on his own forum. I am a genuine purchaser and user of REV Trader Pro and I'm getting GREAT results with this EA. If you haven't tried it for yourself, could you please kindly keep your opinions to yourself.

craneliu posted:

gwindy posted:
Well said fxtrader10...it would be greatly appreciated if others could refrain from 'bad-mouthing' the developer on his own forum. I am a genuine purchaser and user of REV Trader Pro and I'm getting GREAT results with this EA. If you haven't tried it for yourself, could you please kindly keep your opinions to yourself.

Hi Windy,

support your points!
I am testing this EA. Usually I don't judge an trading system just based on the results from several months running only. I only can back up the forex trading system with more than 1.5 years trading period at least. After EA has more than 2 years live trading results, I can actively recommend to my clients. The trading mechanism of REV EA is not bad. especially for DD control. But whether it can survive for a long period with stable performance, let the real performance tell...

I have solid experience with other EAs. usually they could performance well with optimized setting for some period. But after half year, even one and half year, the EAs may wipe out trading account completely.

It would be wise to test and understand the EA behavior in the very tough market period (I don't believe the EA only based on back test results, but it is an index at least). REV team optimized the EA settings. But they are very reluctant to share the testing results which are usually provided by the EA vendor. Optimized EA setting is only for certain period. if this setting has no tolerance to the at least very tough market period, then when the market change, it is too late to apply another optimized setting because the trading account has been wiped out already. there are too many cases.

I think REV team should make it more transparent and anwere the questions actively by themselves if they really believe their EA performance with long term rather than a quick seller. I also could understand perplex by the member here.

Well said cranelia! Scientific look is WFA (optimize then Walk Forward Analysis), opinions and 'its been good for me for X period' is wishful dreaming. (Bad mouthing something POTENTIALLY good is also not good)
How hard is it for someone here to import Dukascopy, forextester or fhdb 1min backdata and do a manual sort of WFA? Not very hard. By manual I mean pick various points out of the past, do a 1 or 2 year optimization and run the test forward from those various points. .......One pair at a time, saving the results with notes for eventual publication. 1hrTF w/ 1min resolution should do fine. Would be VERY interesting. Any tester types here?

Batcheler posted:

raviluke posted:
I don't care what anyone says. I am using this EA for over 3 months and I have nothing but praise for this EA. This EA is doing extremely well for me and I have nothing to complain about! :)

PS: Looking forward to 2015 for this EA :)

 hi raviluke.
You have your REV set to high MM% ? Yes? Was wondering how you got such fantastic gain in so short a time along with a deep drawdown, seems dangerous. No doubt kinda high MM%.

I started with 10% MM until my balance hit $5000 which was two weeks ago. I then changed the MM to fixed lots 0.50. All trades are now fixed at 0.50. My trades are very similar to Doug's trades, and I'm using IC Markets True ECN account. However, in the last few trades, I only had 1 NZD/USD trade versus the seller who had 3 NZD/USD trades. Occasional discrepancies do exist but overall I'm happy with the performance so far.

I am using up to 40% MM, no problem so far.

I switched off my live account on Dec 22 and did not open it until Dec 29 (Sunday) 4 pm so as to avoid Xmas thin trading.
I am using FinFx ECN account.
Then suddenly I had a NZD trade right at the open at 5 pm EST.

I then had 2 more NZD trades opened thereafter. All 3 trades had very bad fills.

Then I heard from the discussion forum about the NZD trade stuff, and I suspect that these trades were assigned to me no matter what. I also saw the market kept on rising, so I manually closed these 3 trades and had big losses.

I wrote to Dough but he did not answer my email, so i post my trades here for you to review:

4781216 2014.12.28 22:01:53 sell 0.50 nzdusd 0.77512 0.78712 0.76988 2014.12.30 13:58:58 0.78371 -3.00 -5.60 -429.50
4781690 2014.12.29 08:29:44 sell 0.50 nzdusd 0.77812 0.79012 0.77422 2014.12.30 13:59:00 0.78374 -3.00 -5.60 -281.00
4781707 2014.12.29 08:41:31 sell 0.50 nzdusd 0.77861 0.79062 0.77424 2014.12.30 13:58:59 0.78371 -3.00 -5.60 -255.00


The first trade was filled on Dec 28 22:01:53, GMT, but it was a Sat! How can the broker fill my order when my live accountw as switched off until Sunday 4 pm EST ?

So either the broker screwed me or that the EA screwed me by assigning trades, or both ?

I am writing to FinFx and see what they have to say, also, hope the developer will answer here since he did not answer my email sent to him a few days ago.

I hope the EA did not screw his customers by assigning bad trades, or bad fills.

Matthew

raviluke posted:
I started with 10% MM until my balance hit $5000 which was two weeks ago. I then changed the MM to fixed lots 0.50. All trades are now fixed at 0.50. My trades are very similar to Doug's trades, and I'm using IC Markets True ECN account. However, in the last few trades, I only had 1 NZD/USD trade versus the seller who had 3 NZD/USD trades. Occasional discrepancies do exist but overall I'm happy with the performance so far.

0.50 seems more than realistic for $5,000 balance as long as you don't have any other EAs on your account drawing down your free margin... I like MM because it will change the lot sizes based on your equity/available margin... Much safer bet and will automatically scale up the lot sizes as your account balance grows.

Must have been a pending file and the EA and the MT4 was still online. Just turning the MT4 to a red light wont stop a pending order. its only stops new orders. As far as filing a saturday trade ....thats weird. Its still saturday at 3pm here in Hawaii.

mchiang0027 posted:
I switched off my live account on Dec 22 and did not open it until Dec 29 (Sunday) 4 pm so as to avoid Xmas thin trading.
I am using FinFx ECN account.
Then suddenly I had a NZD trade right at the open at 5 pm EST.

Wait, you're saying your meta trader wasn't even online/open and the trades still took place on your account? I don't think that's possible. But one thing I did notice is dougs trades got closed out on Friday. I have my settings configured to close my trades before 4pm EST on Friday as well but mine did not close for some reason... Not exactly sure why.

I made the mistake of opening an extra trade along side the EA, but I should have opened a hedge trade in the other direction, would have made money going up and back down... I just wish I would have got a better estimation of when to enter those trades, why not enter closer to the top? It entered about half way up the incline, it should have been a buy order honestly at the rate it was climbing but I feel the market was too flat (holidays) for it to make an accurate prediction perhaps? I should have taken my friends advice and closed meta trader for the entire holiday week(s). I ended up losing out on trades another EA placed as well, holidays are a no-win scenario unless you're extremely lucky, it seems...

Lesson learned the hard way though, next year my meta trader will go off the week before christmas and will stay off until after Jan 1st. Makes no sense to trade when there is little to no activity anyway...

mchiang0027 posted:
I switched off my live account on Dec 22 and did not open it until Dec 29 (Sunday) 4 pm so as to avoid Xmas thin trading.
I am using FinFx ECN account.
Then suddenly I had a NZD trade right at the open at 5 pm EST.

I then had 2 more NZD trades opened thereafter. All 3 trades had very bad fills.

Then I heard from the discussion forum about the NZD trade stuff, and I suspect that these trades were assigned to me no matter what. I also saw the market kept on rising, so I manually closed these 3 trades and had big losses.

I wrote to Dough but he did not answer my email, so i post my trades here for you to review:

4781216 2014.12.28 22:01:53 sell 0.50 nzdusd 0.77512 0.78712 0.76988 2014.12.30 13:58:58 0.78371 -3.00 -5.60 -429.50
4781690 2014.12.29 08:29:44 sell 0.50 nzdusd 0.77812 0.79012 0.77422 2014.12.30 13:59:00 0.78374 -3.00 -5.60 -281.00
4781707 2014.12.29 08:41:31 sell 0.50 nzdusd 0.77861 0.79062 0.77424 2014.12.30 13:58:59 0.78371 -3.00 -5.60 -255.00


The first trade was filled on Dec 28 22:01:53, GMT, but it was a Sat! How can the broker fill my order when my live accountw as switched off until Sunday 4 pm EST ?

So either the broker screwed me or that the EA screwed me by assigning trades, or both ?

I am writing to FinFx and see what they have to say, also, hope the developer will answer here since he did not answer my email sent to him a few days ago.

I hope the EA did not screw his customers by assigning bad trades, or bad fills.

Matthew

Hi Matthew!
My experience with FinFX is very bad, I had experienced stop hunting too! If you would not have closed trades manually then it would have been closed by EA in profit as prices has gone bellow 0.76985
Regards,
DDR

georgehawh posted:

gwindy posted:
Well said fxtrader10...it would be greatly appreciated if others could refrain from 'bad-mouthing' the developer on his own forum. I am a genuine purchaser and user of REV Trader Pro and I'm getting GREAT results with this EA. If you haven't tried it for yourself, could you please kindly keep your opinions to yourself.

why did you close your account? if REV is good, you should ask your account to run with profit . but you withdrawn all balance.

surprised!
https://www.myfxbook.com/members/gwindy/goldilocks/1015116

Hi georgehawh, I am changing accounts, please refer to the feeds I posted on my profile as follows:

Happy New Year all.

Thank you to those that have been tracking my Goldilocks account since I commenced using REV Trader PRO. I know Batcheler has been particularly enjoying it :) And no, I'm not affiliate with the developer...I wish I was though :)+


Please note I will be withdrawing all my funds shortly and cease trading on this account, BUT will be opening a new account if you wish to continue tracking my results with Rev Pro. I will keep the old Goldilocks account viewable for a while as a reference.

Thanks again and all the best for 2015.
Yesterday at 00:08

2 Things.

I've personally had negative experiences with FINFX too, not a fan. Don't recommend them.

Also, Myfxbook fixed the issue with NZDUSD, the trades are now showing.

I closed all charts and had no EA running on FinFx ECN Pro account starting Dec 22.

Then I opened the charts and attached the EAs onto the charts on Dec 29 at 4 pm EST, before the market opened.

Then at 5 pm EST, when the market restarts, the first trade jumped up!

4781216 2014.12.28 22:01:53 sell 0.50 nzdusd 0.77512 0.78712 0.76988 2014.12.30 13:58:58 0.78371 -3.00 -5.60 -429.50

You could see the time of trade, it is impossible!

I was wondering why, then 2 more trades were opened, and with much worst fills then the vendor's. I then heard a lot of discussions on the group about the NZD trades. I then manually closed them all to avoid further losses.

Now I wont restart until FinFx give em a good explanation. And I am not not sure if the EA will assign trades centrally. Until I find out, I will stop the EA.

If you look at the settings, you see NZD has SL of 120 and AUD 150, so if you have 5% risk on these 2 pairs w 3 orders, we are talking of 360 pips and 450 pips intra-trade DD, or real DD in the worst case!! So for a 0.5 lot, that means potentially $1,800 and $2,250 DD, am I correct here?

If this is correct, I should adjsut the risk to only 3% or lower for a $10K account, else just these 2 pairs could mean a DD of 50%!

Please review.


  

Hi guy,

I just purchased ea and have a question

In set file Open2trade for eurusd is 300 and Open3trade 350 SL 90. But in Important Note seperate file recommend below.

Default Risk is 3% using Money Management
Trades will close on Friday 30 minutes before market close, if any are open.
Up to 3 trades can be taken at a time on each pair, by default it is now limited to 1 MAX trade per pair, to change it to trade 3 max trades per pair please change the following settings for each pair:

Please load the SET files first, then make any necessary changes, then click OK.

AUDUSD

Order2Distance = 10
Order3Distance = 20

EURUSD

Order2Distance = 35
Order3Distance = 10

GBPUSD


Order2Distance = 5
Order3Distance = 15

NZDUSD


Order2Distance = 35
Order3Distance = 30

Which value should i use i a little bit confuse here. Thank you in advance.

folkyboy posted:
Hi guy,

I just purchased ea and have a question

In set file Open2trade for eurusd is 300 and Open3trade 350 SL 90. But in Important Note seperate file recommend below.

Default Risk is 3% using Money Management
Trades will close on Friday 30 minutes before market close, if any are open.
Up to 3 trades can be taken at a time on each pair, by default it is now limited to 1 MAX trade per pair, to change it to trade 3 max trades per pair please change the following settings for each pair:

Please load the SET files first, then make any necessary changes, then click OK.

AUDUSD

Order2Distance = 10
Order3Distance = 20

EURUSD

Order2Distance = 35
Order3Distance = 10

GBPUSD


Order2Distance = 5
Order3Distance = 15

NZDUSD


Order2Distance = 35
Order3Distance = 30

Which value should i use i a little bit confuse here. Thank you in advance.

Hi folkyboy,

Load the set files and keep the default settings. To change only the Money Management according to your risks appetite.
The email alert you can set to true,if you want to get notification per mail with opening trading. If you set your email alert to true,then go to tools----->options -----> email---enable (click there) ....okay...the rest you have to do by your self.

cheers

Hi,
someone uses a REV TRADER PRO with a broker ROBOFOREX ECN or PEPPERSTONE Razor ?
Thank you advance

Anyone else not get the 3 current NZD/USD trades that vendor has open?