CaliberFxPro.com Review

Lost almost 40-50% of equity. Did all that was recommended by the vendor including the broker. Nothing but lost one trade after the other.Last email to the vendor more than a week ago and still waiting for a response. Stopped using the EA.

I purchased this EA due to the results shown here as they were quite favorable. For the past month I've had it running on a demo account at forex.com (where I have my live account) and unfortunately, I have been unable to produce the same results.

The first 2 weeks I had it running, it lost over a third of the demo account in a week and a half. I came back here to re-read everything just to double check and found the post by John saying to activate the stop loss settings which I then did, and it improved the results but I still had more losers than winners overall.

I tried to tweak and adjust the settings but to no avail, I still wound up with more losers than winners and my demo account, when I stopped it, was down by three quarters of what I started with.

I rated it 3 stars because this may possibly be a good EA with the right settings, as it appears to be working for FPA, but finding out what those are is at best a c*** shoot. Wound up having to ask for a refund.

Have been running this EA on a live a/c for 3 weeks and it has increased the balance by 40%. Trades 3 pairs, €/$, Cable and $/Yen with €/$ the most actively traded pair. Make sure you activate the trailing stop function in the settings ( true/false drop-down box ) which has a default of 40 pips - also adjustable. Unlike the majority of bots, the EA 'reads' the market well and trades accordingly. This, along with the highly effective trailing stop has resulted in some great trades - 115 pips on a single $/Yen trade last week.

S/L settings are fairly conservative ( default of 20 pips on €/$ ) which fits in well with their Money Management strategy outlined in the guide. This inevitably gives rise to numerous losing trades. I have found however that the winners outnumber the losers in pip terms - is that not what we have all been hoping for ???

Admittedly, this EA was a slow starter and the first 5 trades produced mixed results but it is really worth perservering with this one. EA support replied to a query within a few hours and gave me the answer I needed.

I have tried numerous EA's ranging from the truly disastrous to the truly average and this one is easily the most profitable.

all i can say is that i am testing it on demo account and in 20 days of trading its made 484 pips settings are default,there are losses of course.but if i go live i will only start with 500 dollar account all you do is adjust the settings,you can trade micro lots

Definitely 1 step forward and 3 steps back with this. As the other guys have said the winners are big, but are followed by losses which cancel the profits made. I tried this on a live account and once had 11 losses in a row so stopped after a week before I lost money.

HI, I bought this EA.
At the outset I have to say they didnt quibble over the refund. So that is in their favour. Its hard to find honesty these days.
I backtested it on all the currencies over a year. It never did once make a profit. It made roughly 6 losing trades to 5 wins. The wins were often much bigger than the losers. But then one has to make another 3 wins to make up for the losses. I watched the graph go like a huge saw tooth shape, till the account of $10k was almost empty. I wouldnt risk it with live money. You might have a different story, and I really hope you do well should you uses it.

hi,

well a very strange behaviour occured with this 4 bots package (3x Basic versions for 3 different pairs, 1 plus version with 2 additional ones)

on one demo account with a Canadian Broker that is on investigated by FPA for its withdrawl problems, the 4 bots on 5 pairs performed with a 40% equity raise in one week °!

on 2 other demo accounts the bots did not trigger ANY trades and on the 4th demo account they are mixed up with other bots - unfortunally the 3x1 bots do NOT add any comment on the trades, the 1x2 bot traded as "Forex Infinity" first and after an update it comments as "Calibre Plus".

Not commenting the trades makes it hard not to say near to impossible to do a serious analysis for multi bot (on the same account) users - i know i can use the magic numbers but the risk for errorst gets up by that - so not commenting robots make it hard to compare in a near to real demo account environment - in the future i will take the refund option on every bot that does not comment or where the sellers/programmers would not implement that feature within the frist half of the refund period ...

cheers _ alex

Unlike all the Forex millionaires out there I am still working for a company. Trust me, $500 is all I can afford for my LIVE trading account and it literally took me months to get this amount together. In addition I also had to save up extra money to purchase robots.

Most robots out there claims and shows wonderful results . BUT the results are based upon $1,000, $5,000 and $10,000 deposits! If you change the back test deposit to only $500 most robots fail! Most robots are not written for a $500 deposit account and fails my Forex Acid Test. The problem is that most robots are only upward compatible, not downwards. This means that a robot written for $1,000 can easily used on a $10,000 account and still performs brilliantly. Unfortunately a $1,000 robot will most probably fail if used on any amount lower than the original $1,000 it was designed for ...

When a robot performs an incorrect trade, buy when it should have used sell or vice versa and the loss is $100 .On a $10,000.00 account this loss is only 1% but for a $500 account this is a massive 20% - three of them in a row or heaven forbid, 5 in a row would wipe the deposit completely!

The Forex Acid Test is a back test that is run from January 2007 up to December 2009 using only $500 as the trading amount deposit. Although losses are to be expected, the result should show more wins than losses (Accuracy of at least 90% or better) and a nice upward equity curve. The starting balance for January 2007 must be $500 and the end result should at least be 7,5% per month or better. End result at December 2009 should thus be at least $6,755.77 or better. (Forex Acid Test results for 1. MegaDroid = $29,331.47 , 2. Forex Nuke = $77,927.96 and 3. Cha Ching = $80,682.68)

I do not believe in testing robots on a demo account . I am deploying robots directly on the real LIVE account provided I can proof to myself that the robot is capable to provide profits without wiping the initial deposit must survive the Forex Acid Test and produce profits better than 7.5% per month. A robot that can survive the acid test means that the coding is sound (accurate entry signal detection resulting in more wins than losses) and money management is proper (does not wipe the initial deposit).

I am sick and tired of buying a robot, run it against my Forex Acid Test and then have to ask for a refund because the robot cannot provide the proof of delivery on a $500 deposit.

CaliberFXPro did not survive the Forex Acid Test - do I need to say more? (Even after changing some default settings - the back test curve goes down, no matter what!)