(2 Percent Solution by Richard Swaby)


Private, 1st Class
Beware of Richard Swaby

I have bought the 2%dailyEA from R.Swaby in December.
It cost $ 500 and comes with a 100% satisfaction and money-back-guarantee, but beware: Swaby will never refund you , it is only a dirty trick to get your money.
Two Percent Daily Profitable Forex Trading System | Top Forex System | Automated Forex Robot | Forex Profit

The 2%daily EA is trading the 2%daily-manual-method by R.Swaby , but it is not profitable.
The advertisement is misleading.

R.Swaby is not helpfull, his only "help" is to blame the customer in order to refuse the due refund.

Here is my e-mail to him (sent 2 days ago), which summarizes the strange behaviour of Swaby.

Hello Richard,
I don´t understand why you are trying to blame the settings.

Please read the trade statement for December until January 06 .
1. GoMarkets server time is GMT + 2
My local time is GMT + 1
All losses occured within the correct time period.

The settings were correct. I got them from you.

I am sick and tired of your continued attempts to blame
me or the brokers. Why are you doing that ?
I have proven you wrong in every point but you just ignore it.
Why ?

Today I had a closer look on your website and I was shocked again.
Why ?

Let us compare your advertisement with reality :

Forex traders looking to increase your account each day - guaranteed...

Reality: Most days are breakeven or losses. Look at the statement .

I have put a lot of work into this EA and just like the manual method, it performs excellently!
Nobody doubts that you put a lot of work into the EA, but it performs more than poorly.
In fact, it produces losses on all brokers except FinFX-ECN demo.
I still wait to see your live-statement ( live means real money, not demo ).
And demo-results never match real money trading account results.

Average 2% account increase every day.

Look at the statements. It is not even 0 % daily, it is an average loss.

NOT broker dependant.

How can you claim this while all the time you have gotten evidence that it is broker dependant.
It is more broker dependant than most other EAs out there.

60 day money back guarantee.
Really ?
Richard, I have evidence that your EA is not profitable. Look at the statement
and look at the other statements I sent you. All of them show overall losses.
Therefore I cannot earn money with your EA as desired and needed.
Your EA is worthless for me.
I am requesting a refund right now.

The aim is for me to ensure that you make back the cost of the EA and start making profit as soon as possible. I will assist you all the way.

You are calling this "assistance" ?
Blaming me and ignoring almost everything I told you ?
First you blamed the brokers although you did not know them. GoMarkets is one of the best.
Why should the brokers be responsible if the EA is NOT broker dependant ?
Do you see the point ?

P.P.P.S. Do not forget that I offer a 60 day money back guarantee so there is no risk in ordering.
Ok, keep your word and refund me. You have got all you need to honour your word.

Oh, I am 100 % not satisfied.
In fact: I am very much disappointed and angry.
I am not satisfied with your "assistance".
And I am not satisfied with the EA.
It is 100 % frustration.

The Two Percent Daily EA has gone through rigorous testing and redevelopments to ensure that it performs as expected.

I have rigorously tested the EA with different settings and on different brokers and it
does not perform as expected. Otherwise I would not write you this e-mail, Richard.
I would be happy to earn money with it. But that is impossible.
Maybe on FinFX ECN , but that is not sure right now because a demo-account does not reflect
true trading.

If it does not perform well for you and you can send me your trading statement to show your results then I will happily refund you provided it is within 60 days of your purchase.

Ok Richard.
It did not perform well for me and I sent you my trading statement within the 60 days
of my purchase.
Now I am glad that you will "happily" refund me.

PS: The only "help" and "assistance" from you was your offer for an ECN-account at FinFX
for 500 $ deposit instead of 2500 $ because you are an IB for FinFX.

I thank you for that offer but 2 reasons speak against it :
1. It proves that the EA is absolutely broker dependant and that is absolutely contrary
to your website.
2. The small profits on the FinFX ECN demo means nothing because a demo never matches
a live account. You should know that if you trade Forex for some time.
But maybe you don´t have much experience with EAs ?
Backtests are not reliable at all and demo-forward testing does not mean that on a live-account
the EA will perform as good as on demo.

I am glad you are happy with your EA but I am definitely not happy with it.
The December-Jan06-statement is attached .




Private, 1st Class
Richard Swaby sent me the refund after the Traders Court at FPA made the case public.

He still thinks that the money-back-guarantee did not count and it was his right to refuse the refund.

Only the pressure of the open case moved him to finally justifying his actions, which was not accepted by the readers.

This was a nightmare for me.

I learned much from it.

Here is my advice :

1. Never ever trust a vendor who promises a "money-back-guarantee" or a "satisfaction-guarantee".

It could be a person like Swaby who is convinced that the money-back-guarantee is invalid and who never intended to honour his promise.

2. Don´t buy a product which you can pay with Paypal or VISA Credit Card.
Both companies will never ever help you against a scammer.
They will always defend and protect the scammer.
This is what they did to me.

3. Only buy products which are sold via Clickbank (or Plimus) and have a money-back-guarantee.
Clickbank will refund you , even if the seller refuses to grant the refund.

Without the help of ForexPeaceArmy, Swaby would have kept my money.

Thanks again to FPA.

richard swaby

Just to clarify there is a manual and automated version of this system. This post is primarily regarding the EA.

Refund given and refund policy changed. See my website for EA performance and new refund policy. The EA has also been updated and is safer and more profitable than before (despite making 100% in December 2010! - see website for statement). I continue to work hard at improving the EA and communicate on a daily basis with the users. Most who I have a good relationship with. Trading requires patience and discipline and that does apply when using EA's.

The majority of people who have seen bad results have been using incorrect settings. Most take the advice I give them to change the settings and they also use the updated versions of the EA. These are the ones who see the benefits in the long term. I am always looking to improve the EA, which feedback and forward testing allows me to do.

The latest version of the EA was released on January 26th 2011, and at this point in time (Feb 16th 2011) is up over 33%.

If the performance begins to fail I immediatly look at how/why it failed and go back to the code to look at how I can improve it.

Yes, I made a mistake in not issuing the refund in the first place, but I was trying to protect myself against people who are known for buying software with the intention of never really paying for it.

It was a good lesson to learn, albeit the hard way. The refund policy is now clear, to avoid similar misunderstanding in the future.

I wish lots of pips to all!
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Private, 1st Class
P.P.P.S. All sales are final. There are no refunds for the EA.
Yes, this is what it should have been from the beginning.
A clear statement to the potential buyer.
Leaves no room for discussions.

But why did you leave this statement on your sales-page ?
NOT broker dependant.

Didn´t you read my postings and my trade-statements ?

Your EA is absolutely broker dependant.

It only works on ECN-accounts.

On other brokers it loses more than 20 % monthly !!!!

Richard, I don´t know why you don´t listen to those who
sent you the trade-statements which prove that your EA is
broker dependant !!!!!

Or should I publish your e-mails to me where you accused me of using the wrong broker ?

How come if your EA is "NOT BROKER DEPENDANT" ?

Why don´t you just change that sentence into the truth like this ?

I thought you would clean the plate and try to regain your lost reputation.
You are watched by many.
Why don´t you straighten out your actions, Richard ?


Private, 1st Class
The majority of people who have seen bad results have been using incorrect settings. Most take the advice I give them to change the settings and they also use the updated versions of the EA.

I used your recommended settings in December and got big losses because I traded on GoMarkets instead of FinFX ECN.

You recommended FinFX-ECN and another broker which is not regulated and no option for a serious trader.
With this you confirmed with your own words that your EA
is broker dependant.

From January-7 until January-27 I used exactly the settings which you personalized for me .
I used them on FinFX-ECN account and got losses again.

So stop twisting the truth and trying to blame your customers.
It is your notorious pattern and I hate it.

You have done wrong by breaking your word, by ignoring me, by not supporting me, by trying to steal my money.
And you would never have returned the stolen money to me if FPA would not have helped me.

I tell you again:
Stop lying about me and stop blaming me for the losses of your EA.

You still have to learn what the word "honesty" means and how to treat customers.
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richard swaby

Galina, please re-read my post.

The EA has been updated and I have fixed the broker issue. It is no longer broker dependant, although one could argue that the choice of broker can affect any trading system due to slippage, spreads and stop hunting. It does not need to be used on an ECN broker, but I do recommend using an ECN broker to get the tighter spreads and faster execution that they provide. I initially recommended FinFx as they allow hedging and expirations aswell as providing tight spreads and fast execution. However, the new and improved EA does not use hedging or expirations now so can work with FSA regulated brokers. You did not receive this version of the EA.

Please can you stop the accusations towards me. You were unhappy with the EA and it did not work for you, and now you have your refund. I would appreciate if you could leave me in peace as the matter between me and you has been resolved. Thank you.
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Private, 1st Class
Galina, please re-read my post.

The EA has been updated and I have fixed the broker issue. It is no longer broker dependant,

Here you confirm again that it was broker dependant.
How could I know that you fixed it ?
You never told me,
you stopped supporting me because I sent you my trading statements which showed losses and asked for a refund.

That was reason enough for you to stop the support and to try to steal my money.

although one could argue that the choice of broker can affect any trading system due to slippage, spreads and stop hunting. It does not need to be used on an ECN broker, but I do recommend using an ECN broker to get the tighter spreads and faster execution that they provide. I initially recommended FinFx as they allow hedging and expirations aswell as providing tight spreads and fast execution. However, the new and improved EA does not use hedging or expirations now so can work with FSA regulated brokers. You did not receive this version of the EA.
Why not ?
Either you had to send me the refund or continue to support me.
Instead you ignored my e-mails, ignored my threads on FPA, ignored the Cour Case.
You thought you could keep my money and getting away with it.

Please can you stop the accusations towards me.
What accusations ?
I do not tolerate that you are still blaming me for the losses.

If you stop blaming me for your faults, I will stop defending myself against your twisting of facts.

You were unhappy with the EA and it did not work for you, and now you have your refund.

I would appreciate if you could leave me in peace as the matter between me and you has been resolved.

I would appreciate if you would apologize for your attempt to steal my money and then stop blaming me for the losses your EAs produced on FinFX-ECN account with your settings.
Thank you.

I repeat:
You would have stolen my money if FPA would not have helped me
by providing the Court Case.

You did not apologize to me for this action.

You did not admit it but tried to justify your actions by pointing to your terms and thus confirming that you never intended to refund anybody.

That is called "intentional fraud".
Offering a refund-guarantee but never intending to keep your word because you accused the customer as "thief" who tried to get a free copy of your useless EA.

Here is what I expect:

1. A public apology to me.

2. Stop blaming me for the losses of your EA.

3. Stop imputing that I tried to get the refund to use your useless EA for free.

You are still offending me and I do not tolerate it, Richard.

richard swaby

Hello Traders,

Over a year has passed since the original version of the Two Percent Daily EA was released and I think it is time I answer back the critics.

It can be very frustrating being called a scammer when the solution is usually a couple of lines of code, but some traders do not want to wait for the solution or give feedback as they have been ripped off by other vendors in the past who give us all a bad name. I work around the clock everyday on my EA’s to improve them and ensure that they are up to date and all bugs are removed. I use customer feedback to make personal and permanent modifications to my EA’s.

PART 1: The Problem in the beginning.

The Two Percent Daily manual method was a great success for many traders. However, when I coded the system into an automated solution it was one of my first expert advisors. Admittedly, it had some bugs. This is normal as it was my first coding experience. I did take all the feedback I was given (both good and bad) and did everything that I could to improve the Two Percent Daily EA. Some users were unhappy and rightly so as the code was buggy and not reflective of the Two Percent Daily system. I want users to have good results and that is why I have spent so much time trying to improve the EA and fix any known bugs. I believe all the bugs have finally been removed and the EA is much improved – and I still work to improve it every day. If I am not coding, I am testing. The initial problem and the reason there were unhappy users, was not the system but rather the buggy code. Below is a list of all the bugs and the problems they were causing.

PART 2: The bugs in the original Two Percent Daily EA:

The Trailing Stop was not being activated - NOW FIXED.

The EA comes with a default trailing stop of 3 pips, which is tighter than the minimum required by some brokers. If the trailing stop was left at 3 pips on such a broker then it would not be activated. This meant that during back testing and real time testing, users were seeing the stop loss being hit the majority of the time as the trailing stop was not locking in the profit as it should have been (it was not even being activated as you would have seen from the journal tab. This gave the EA bad results and led to some criticism which I accept as the EA should have been coded to automatically adjust the trailing stop to the minimum. The “quick fix” would have been to increase the trailing stop to the broker’s minimum required, but this was not an ideal solution and not all users understood that. This issue has been fixed now as I have added some code to the EA so that it will automatically adjust to the minimum trailing stop allowed by the broker during every trade. This ensures the trailing stop is always triggered when it should be and order modify errors are avoided. Some users were saying that the EA only produced good results on FinFX. This is because they have no limit on the trailing stops, so there will be no order modify errors and the trailing stop was being placed.

The Stop Loss was too tight – NOW FIXED.

This is not a bug within the code, but rather the EA’s recommended settings. I had recommended a stop loss of 10 pips, which on a currency pair such as the GBPUSD is very tight. Especially as some users were using brokers with spreads of 3 to 4 pips and not adding the spread to the stop loss. This again meant that the majority of trades were getting stopped out as they were not given adequate room to manoeuvre. Slippage, stop hunting and non-Ecn execution also seemed to be a big issue. This has now been solved by quite simply widening the stop loss and adding maximum slippage/spread filters. This allows the trade room to breathe whilst we can afford to have a wider stop as the entry is accurate – 99% modelling testing with Dukascopy tick data. This avoids the problems caused from broker slippage, high spreads and stop hunting.

PART 3: Unreliable testing with history center data – NOW FIXED.

All the testing was done using the default history center data which gives 90% modelling quality. This means that anything less than the 1 minute timeframe can be “made up”. This led to inaccurate results and trades that were shown to be winners on back testing may have actually been losers. Therefore the entry criteria and trading times may not have been ideal. I solved this by downloading tick data from Dukascopy and converting it into a FXT file for the tester. Data is available back until 2007 and I used as much data as possible during the time of testing. This data gave me 99% modelling quality and ensure that the results were as accurate as possible. Therefore I was able to recode the EA with extra trend filters and modified entry criteria to ensure it had no losses all the way back until 2007. Of course this does not guarantee there will be no losses in the future, but it does give us the best possible testing and entries and the present time.

Again, to reiterate, the problem with the EA was not exactly the entry criteria, but rather the bugs and unreliable recommended settings.

PART 4: Refunds – NOW FIXED.

Some traders who received the original EA were unhappy and rightly so, but they did not give me a chance to fix the code. Others would buy and ask for a refund right away without even testing the EA as they wanted it for free. Some would buy it and post it on forums compiled for others to use illegally. The simple solution to this headache was to remove the refund policy – which I have done a long time ago. Since then I have only attracted serious traders who have helped me improve the EA and get it to where it is now. The software is downloadable and therefore non-returnable, which is another reason that it makes sense not to offer a refund.

PART 5: Where the EA is today – TWO PERCENT DAILY TURBO EA.

I have updated and improved the Two Percent Daily EA (as of 2011-10-21) with all that I have learned over a year of research, testing and feedback. The updated EA has been sent out to all original buyers with detailed instructions (if you did not receive the update please get in touch with your receipt number). I will be sending copies out to various EA testing sites. All known bugs have been removed and the entry criteria/default settings improved.

The new version includes 4 different entries: 2 support/resistance breakout entries and 2 secret entries based on recurring chart patterns. A detailed description and screenshot of each entry is included within the instructions. I have also obfuscated the code and coded a license number requirement to try to prevent piracy as the software has been shared illegally (as most forex software has been at some point). In my opinion those sharing the software illegally are the ones who should be called “scammers”, not those who put days, weeks, months and years of hard work into trying to provide a profitable automated forex trading solution. Looking back now, I find it quite ironic that one of the people opening a case against me on FPA was in fact illegally sharing copyrighted forex trading software on a Malaysian forum. Whether the software works or not, the buyer does not have any rights to illegally share it.

The best solution for everyone who wants to be successful in forex is to work with the vendor to fix any issues and improve the EA.

I know the original version of the EA had its problems, but it helps the developer and those who want to be successful trading if we work together to find the solutions to fix the bugs instead of criticizing. I would like those who have received the updated version of the EA to test it and leave feedback here. If there are any bugs then please do let me know and I will ensure they are fixed immediately. If you know anyway the EA can be improved or if there is a setting that you believe is not right, please do let me know.

PART 6: Looking to the future.

Programming trading systems is my passion and hobby. I am doing my very best to produce a profitable automated solution for traders worldwide. I maintain daily contact with many of my users and have done for a while now. These are the ones who can really appreciate the dedication that I give to my work.

I plan to keep improving my EA’s and developing new profitable systems. Every day I work on my EA’s and new ideas as well as coding personal EA’s for other traders upon request. I will be running the Two Percent Daily EA on a forward test and will ensure it remains profitable and make changes as and when required. At this stage I strongly believe in the EA and that it is close to perfection, but there is always room for improvement.

I would also like to remain an active member of this forum and communicate with members regularly, especially if they can help me to improve my software. As you can tell I am not what some people made me out to be in the beginning, if I was my site would be offline and I would be long gone. Programming and trading are my passions and I will continue to do my best to develop good systems for everyone to use.

Please check back to my site for regular updates and feel free to get in touch.

All the best,
Two Percent Daily Automated Forex Robot | Forex Software | Forex Expert Advisor