CAD-Trader.com Review

I'm not sure where those numbers are coming from on the demo. I've been trading this thing since July and it's doing well. You have to place your risk well and be patient and DON'T LET IT TRADE AROUND THE HOLIDAYS!!!! I can't believe how many people don't know this. I don't care what kind of bot you have, the liquidity around the holidays is awful and so are the results. I put $750 in my account in July and the balance is over 4 times that now. It's a slow grower, but patience is necessary. I can say that I know very little about forex, but if it works... it works... and this works.

I ran a demo and started it with $1,000,000. I was risking $10.00 a pip during that massive DD. I watched it to see what percent of a DD it would go. It ended up that about 12% of the account was in DD before the CAD reversed and all closed out. I'm testing this for a full year before I put this on a live account. I am concluding though that I need to risk $1.00 a pip per $100,000 in the account or .10 cents per $10,000 (at least).

This is EA is pure junk and the EA creator does not care one bit. DO NOT EVER BUY THIS EA, IT IS HORRIBLE!!

Eric and ladybug well said. We like forex we try to
make some money then we get let down. So like everything else in life we go on.But I didnt think my comments were shallow or meant to offend. It is my opinion for what its worth and nothing is ever going to be perfect at least not in this life.You can summit a refund direct to plimus.Google plimus click support at the top click shoppers click customer support you see billing issues and go from there.


2011-07-05 No Rating The ea didn't take a hit the market took a hit. Your not playing a game your trading currencys,what did you expect never any losses. you can move the buy or sell limit up or down whenever you want so it wont open any more positions if you want to .I only had seven positions open instead of fifteen in that downfall and limited my loss. You have control over this ea you just have to learn how.

Hi William,

As you said, we are NOT playing a game and we ARE trading curriencies. This add on to stress that CADTrader should perform better. And by the way, the trades that CADTrader opened were only 0.02.. I have never came across and EA that can turn your $1K+ account into $400+ within a week.. Nothing but consecutive extremely bad trades.. They should fine tune their stoploss system or else, they will blow you account when you take a short vacation.

Please refrain from posting very shallow and biased comments. The market did take a hit and the EA did with it. If one charges money for it , it only is HONEST to have tested it IN EVERY MASRKET CONDITION. Having been in finance law, i would of course say there is no legal violation here, but the conditions that market crated coused an extreme drawdown, which in itself resulted in big losses to the EA users ( who could sit and wait for the market to turn without closing the positions with all that loss? ). I had requested a refund counting on the developer's integrity and honesty not to charge people for the EA that has lost them money and caused emotional distress, but my request has been completely ignored so far.

2011-07-04 1 Star I had a very small account and purchased th CAD trader just before it started its crash, so the first several trades were @ .01 lot each, but then, the lot size tripled ( .03) and it still took trades to the total of 13 . There was a crash, needless to say. This robot tatally counts on retracement , which a lot of time does not happen if the trend is super strong. So, I am GOING TO REQUEST A REFUND! And any of You guys here who are complaining : don't sit with Your thumb up.... request Your Refund!

First thing is first. It is important to remember that while we allow EA's to manage our trades, that doesn't remove the responsibility to for us to MANAGE the EA. This is especially important when it comes to money management. There is no such thing as a set it and forget it EA. The fault is not in the EA, but in our false assumptions about it, and our mismanaging of it.

This is a grid trading system no doubt. The description of the CAD trader EA clearly states that is exploits the up-down nature of the USDCAD. The key to this is the use very very low risk, to give the trades allowance to go into the negative, without worrying about significant draw down. If you're losing 100s on this, and your account is in the 1000s, then you're risking way too much! I'm also boggled at the one who would keep their security SL at 50. 50??? Meaning you want to bail out only when you've lost 50% of your equity? Think people.

Personally, I have set the Money Management to false, and I'm using nanolots (i.e. 1 cent per pip). I'm doing this to begin with. My security SL would be set such that all trades close out at 10% loss of equity. However, given the size of my positions, there would have to be a huge swing in price for all positions to close out.

As the EA makes profit, you can SLOWLY increase the lot size. Periodically, when you've made a sufficient amount of profit, you can make a withdrawal, or just lower the position size to the lowest and start again, ensuring that profits are secured in the case of very bad days. Figure out how much you might lose on the worst day, and once you've made that much in profit, you can consider the EA at a "break even" level with regards to the previous set of profit you made. At this point you reduce the lots sizes to what it was at the beginning, and then grow profits once more. This is how you protect your profits from being wiped out from losses: cyclic lot adjustment. I hope that makes sense.

The key is to have large equity and very low risk when it comes to these systems.

Thus far this system has traded profitably every day I have used it. I was lucky that I was away on business and didn't have it on when there was a huge swing in the USDCAD. The profits are not much, a few bucks a day. But so what. I don't blame that on the EAs need to have low risk. This is simply due to the small equity in my account. Baby steps people.

From the comments I've read, I think poor results are due mostly to people not managing this EA, not understanding how it trades, and expecting the EA to do what NO EA can do, make money without any management.

It's still too early for my to give this 5 stars, but I'm going to give it 4 for now, and maybe that might balance some of the negative reviews of recent.

2011-07-01 3Star You really have to be careful with this EA. The draw down is significant, especially if you aren't careful with your risk and lot size. It really is dependent on the USDCAD ranging. The steady profit curve comes from the fact that it rarely closes traders that are not in profit. However, this will leave you with several open positions all in loss into price moves in favor of the trades.

As of yet, there is also no way to turn the off, in the sense of stopping now orders from being opened and simply allowing the remaining orders to run their course. So technically you can't turn the EA off! You would have to manually place the SL and TP for the remaining open trades.

So you have to be careful with this EA. You can make a lot of money, but you need to manage this EA.

I am not going to give another review because my account has not had a margin call and hopefully will not. There are problems with the EA as it now stands. Alfred is aware of these problems and will be trying to find fixes that will hopefully address very long term trends based on world news or other factors. My security SL is now at 25.0 which was recommended by Alfred and my money management was turned to false. He gave me some other suggestions which I have followed. I disabled my EA when I was fearful that more trades would be added to my 13 open trades and I deleted the pending trades. Lets hope for the best and that Alfred will come up with fixes that will make the EA much safer but yet still very profitable.
Stan

2011-06-17 5Star My review of the other day was given a 5+ star rating but I failed to dot the 5 star rating so it didn't show. I continue to give a 5+star rating and after 17 full days of trading my balance as of Fridays closing is 23,533,31 which gives me a profit of 1418.84.Start date 5/31/11..My lot size is a conservative 0.15. Customer support continues to be A-1.
Stan

2011-06-13 No Rating I have been live trading Cad-Trader since 5/31/11 and I must compliment the developer for building a superb EA..I have set my imput at modest settings to control the risk yet I was able to have a profit of 789.11 after 13 days of trading. My lot size at the beginning was 0.10 and now I have increased it to 0.15. There are other settings that have been changed to reduce risk but yet still make wonderful profits. My current balance is 22,891.20 and when my balance gets to 23,000.00 I intend to increase my lot size to 0.17.
This EA is counter trend following and is well thought out by the developer. The developer is extremely kind and helpful and is very prompt in responding to any and all issues. You can sense from dealing with him that he is truly caring and wants to protect our money based on our risk tolerance. After the bad experiences I have had with many other EA's I would not hesitate to recommend Cad-Trader to anyone, whether he has a large sum of money to invest or a very minimum investment..Unless things change which I don't forsee happening, than I will be adding another 20-25,000 to my balance..I give Cad-Trader a well deserved 5 star + rating.
I hope that my testimony will be believed as being very truthful and from the heart so that the doubters who have been hurt in the past will take a chance and buy this product. I sincerely believe you will not be sorry..
I wish all traders much success in their currency trading.. Thank your for reading this testimony... Stan

Good day everyone,

I started a test using an EA,on the 23th of June (it's a Thursday).I opened a demo account with a $1,000 to have a more realistic and accurate guide on how much they can profit in a day..

On the 27th June (Monday), the result wasnt that bad at all.. So I thought, why not I add CADTrader into the test? And I did.
On the same day, it already lost $150.74 (inclusive of commission).

On 28th June, CADTrader lost another $162.95 on 4 trades while my another two EA profited $51.42 (after commission).

Fast foward~ And now, my account balance is $427.07 with 7 open trade worth $ -7 , from CADTrader..

My two other EAs have been rather productive and CADTrader is the one breaking the demo account.

I'm not sure if I were to leave a one star review because I ran it on demo account instead of live account. But this is definitely a robot best avoided unless you know what you are doing.. It gives you small profits but break an arm for stoploss..

WOW this EA took a massive hit on 29.6.11 i'm re-thinking now weather or not I want to buy it now. Is this normal or is the ea going easy going to make up for it's losses like in two weeks or something or continue it's nose dive. I gess we'll wait and see