Fulltime247.com Review

Jane' review below is spot on. I opened a live managed account with Hedgepro nearly a year ago. In that time, Hedgepro managed to loose 76% of my account.

Numerous excuses were given to account for the unbelievably bad performance....broker problems....coding in the EA that needed to be imrpoved. You name it, he blames it.

The one thing Hedgepro does not blame is himself for a system that obviously is flawed. The account treads water most of the time...and then watch out....it takes deep equity hits. In that near year, the account spend less than a week in positive territory.

And customer service...abysmal! It took days to get a response....and I had a fair amount of funds with this gentleman.

Do not trust his website. I cant tell you how many "member only" demo account links I was sent to monitor. All of those ended up loosing money and he would just start a new one.

This managed account is a complete disaster.

The only positive thing that came out of this is that I can write off the loss on my taxes.

Fulltime 24/7 is nothing short of a disaster. My account went down 50% in one day due to a "glitch". Emails were sent out to the clients explaining the mistake, and that the account would build itself up again in time. A week later, the account was down another 50%.
STAY AWAY.

I originally left 5 stars on 11-27-09, but unfortunately need to update my review and drop that to 3 stars. Still not bad, but just not as stellar as I first had thought. I canceled my account at the end of Dec 2009 for 2 general reasons: 1) I discovered I just don't like someone else trading my forex account for me; 2) I became uncomfortable with the way the EA traded, and how the developer handled several things.

In December, the EA began to perform poorly. At one point the drawdown was about -15%. He had said earlier that max drawdown was automatically set at -10% (you can read that in his posts at Forex Factory). So, I asked about it, and he just talked about how drawdowns of up to 35% in managed accounts are normal, etc. No explanation as to why things had changed. That was a big negative to me, because I'm putting my money at risk with the understanding that the EA trades a certain way. So if things about that change midstream while my money is still at risk, I have a problem with that. And it seemed that he was constantly modifying the EA and it's parameters almost weekly.

The trading was not making sense to me either. During that -15% drawdown, the market was ranging, and I discovered the hard way that a ranging market really chews this thing up. A strong trending market and it does fine (like most EA's and mechanical systems).

But there was one "final straw." Re. the monthly performance fee, he states that it's calculated from last trading Friday of each month, so "last Friday to last Friday" each month. Based on that period, I saw Dec was at a loss, so I figured well, at least I don't need to pay a performance fee this month. Then the next day, I get an invoice for $100 for "partial performance fee." A note said the final fee would be calculated when the current open trade closed (this was the trade in 15% drawdown). I was like, huh??? He wants me to pay a fee for profits that don't even exist, and then just assume the current trade will recover and end in the black? Again, December was a losing month-there were NO profits, but he still wanted to be paid. I protested, and to his credit he relented and said to wait until the end of the month when the "final fees are calculated" (the month still ended at a loss anyway). So, I didn't pay anything that month, but honestly, that experience pretty much ended things for me.

But I figured I'd still give it another couple of days to see if things got better. When the trades continued further into loss however, I decided that was it, and I pulled the plug.

When all was said and done, I ended up with about $175 in profit from the whole experience, so not saying it's horrible or anything, but I wanted to be honest about what my final experience was, especially since I was so stoked about it in my earlier review.

In closing, let me say I don't think the developer is a bad guy at all, but I do think he made some mistakes, and in the end I just decided this thing wasn't for me.

So, my suggestion if you're interested, is try it with the minimum amount possible to start, and give it at least 3 months before adding any more. That experience will tell you a lot more than I can here, but I hope my review is helpful somehow nonetheless...

2009-11-27 03:37AM 5 Stars I have been very pleased with this service. Not just in performance (i.e. making money), but also in customer support, responses to questions, etc.

First let me say that I am not a managed account kind of guy. I like to have control, so doing this is a departure for me. I was familiar with Fulltime247 from some of his Forex Factory posts, and from what I could tell he seemed perfectly "normal". So after checking out some of the posted performance results, and since I've struggled this year in my own trading anyway, I thought it looked pretty good so why not give it a try.

In 2 weeks, the return has been 7.6% by my calculations. I'm very happy with that as it represents zero effort on my part! I am seeing this as a supplement to my overall trading strategy, so in my mind it doesn't have to generate astronomical returns anyway. But that return was achieved with very little drawdown, and in all kinds of different market conditions. There is no way I could replicate this trading on my own manually, as it appears to be quite complex.

I'm not a coder, but this EA seems extremely "smart", and it's pretty clear the developer is a very good programmer, and has studied how forex works and how to consistently extract profits.

What's more, he has been very responsive to every question and comment I've had. I usually get a return email within minutes. And I've had a lot of questions! Like "why did it do that?", "what's going on right now with this?", etc. I've now reached the point after just 2 weeks that I'm a lot more comfortable with this thing, and have increasing confidence in it's ability to make me money, and NOT lose me money (it's quite good at controlling drawdowns).

As for trading performance, does it capture 100% of every move? No, but I don't think it was ever designed to. The developer talks about there being some "giveback" after a profitable move starts to reverse, but bottom line is does it make money or not, and the answer there is yes.

I have made many reviews on FPA, and if you've ever read me before you know that I don't pull punches. If a service sucks, I come right out and say it plainly. But on the other end of the spectrum I want to state just as plainly that this service is the real deal, I'm quite pleased with it, and I plan to benefit from it long term.

My review mirrors Bob, USA. I'm up 7+% after 2 weeks. I don't know the specifics of the trading methodology, but what becomes apparent viewing the trades made is that there is excellent money management limiting loss coupled with trending upside action that compounds the winning trades. Or as we say it in Vegas, you have to know when to bet'em and know when to hold 'em.

Have been trading with the HPro EA offered by fulltime247 using the managed account model for 2 weeks. I have had 58 trades (49 wins & 9 losses) with my account up 8+ % over that time frame (before management fee). It's early in my experience with this model but it certainly looks good so far. I'm a happy camper.