ProbabilityEA.com Review

As of today, I still have not received any reply from the developer. If he just replied and said he won't give any refund, it would be a little better, but this is just ridiculous.

2011-07-27 1Star I experienced 2 issues from this EA developer:

1) I purchased this EA from the developer's website and encountered a problem immediately. On his website, there are two places where you can pay for the EA:
--"BUY" page, DOWNLOAD button will lead direcly to PayPal payment page.
--"HOME" page, DOWNLOAD button will lead to a ClickBank payment page.

I went to the BUY tab and paid for the EA there. I processed the payment as per normal. However, I did not have access to the download link immediately as advertised. I did not even get any email or anything from the seller for 2 days. I had to raise the dispute with PayPal and sent 2 emails to the seller before he sent me the EA. Also the receipt from PayPayl showed the seller's email as different to the developer's name and email address.

2) I sent 2 emails and a private message on another forum to the seller requesting for a refund but haven't received any reply whatsoever.

I am just not impressed with the developer at all. I will be raising another dispute from PayPal to ask for refund once again.

I purchased the Probability EA in late December and because of the so called forward testing reported by the developer I placed it on the eur/usd pair on my Live Account with default settings. I then watched my account balance reduce each week as the EA took trades most of which closed with a LOSS. I also had the Probability EA on a demo account as well and that account also was producing losses at the rate of 4 losses to 1 profitable trade.

I then asked for a refund BUT the developer did not bother to even answer any of my many requests. There is NO CUSTOMER SUPPORT when it comes to the crunch when his customers find out the the Probability EA does not work and request a refund.

STAY AWAY from this CRAP EA.

If Michael wants to dispute this post I can publish all of my forward testing of this EA. So Save your money. There are much better EAs available with good customer support.

Regards
Noel

My experience with this EA has been terrible. As with all testing I like to do some back testing. You can not do this with this particular EA as per the developer. So I put this on a Demo Account and a Live account. I thought the results here on Forex Peace Army warranted giving this one a shot.

The results were terrible, I then tried to obtain feedback from the developer for many weeks and finally I asked for a refund. I would not recommend using this EA at all.

A developer of an EA should be able to give the proper settings for an EA and be available to answer questions. Save your money, on this one. I still have not heard back from support on my questions. DOUBLE THUMBS DOWN !!!

I had set up Probabllity EA on the EURUSD on its default settings. Probability EA was performing well until the EURUSD changed direction from up to down. At this point the EA went from profit to a large unrealised loss. The loss became real when the EURUSD reached the MT4 stoploss that I had set to protect my account. It was this stoploss that saved my account from ruin as the EURUSD then dropped a lot further over the next few days.

The main problem with this EA is that it makes no attempt to protect its in-profit trades. I watched in dismay as its open trades went from profit to loss. It is risky to use this EA on its default settings as I did. It would be wise to set the Equity Stop Loss and adjusting some of the other settings might help as well. I took the simple approach and removed the EA.

This EA is pretty good to follow trends... A tip, just turn off when the market is flat to reduce your losses...
When the market is following a good trend, enjoy the pips.

first week -320 pips (flat market) 13/09 - 17/09
second week 1338 pips (bullish trend on EU) 20/09 - 23/09

A good EA. I made more than 10% gain in one week alone. Trust me. The vendor is honest.

2010-09-16 00:00 4 Stars The EA is quite good but a bit complex to use for beginners esp with the parameters. Advisable to use H1 timeframe and low risk to minimize number of trades opened. It could be used on certain currency pairs with huge gains in my demo here but not the JPY pairs. The open trades have small drawdown unlike other EAs...a plus for this EA.

2010-08-26 02:46 2 Stars The EA could be used on any currency pairs. However, it opens too many trades at one time. unless your capital is big, there is the risk of DD. I have yet to see its performance over one week. Will update you on this.

I have been running demo on this EA since 19th July and total
return has been 2.24% which equals about 0.45% per week.
I have used default settings .You are obviously running much
higher risk settings