i bought that system and i was really disappointed - the mini manual for the automated (mechanical system) teaches a bollinger band / rsi combo strategy that is common knowledge for some 10 years now - nothing really new and groundbreaking.
with the ea i have got a promotional package of 5 other EAs that trade long term strategies .... i implemented them on some demo accounts and now will wait and see - so far it seems like this proggies do not trade very often or at all.
at alpari uk the standard settings are a bit weired because 250 pips will be placed 2500 pips away from the entry price. i have still an open trade that goes south but was quite profitable for some days ....
I got this EA as well and have noticed the same thing. It's made 4 trades on my demo now. 3 for a profit and 1 for a loss. The first profit ($8) was almost wiped out by the loss ($7). The loss was minor and would have profited if the EA hadn't closed out the trade. The 3rd trade did better with a modest earning of $38. The $38 dollar trade could have done much better. It waited too long to close out. None of these trades hit the SL or TP. The 4th trade occured last night. It set it's SL and TP. I liked the trade and replicated it on my life account manually, but I set the lot size lower and and reduced the TP ALOT. It was on the EUR/USD. The SL was at 1.31xx and the TP was set at 1.3770. I'm thinking.. there's no way it will hit either of these in the next day or so. I've been told to stay away from trading on the volatile Fridays so I try to stay away. Well... on my demo, I altered the MagicBullet order by reducing the TP from 1.3770 to 1.3432 and had set my live account to close at a TP of 1.3412. Well the market jumped over 1.3480 today. Both orders closed.
I am going to continue to test Magic Bullet, but I will change the setting on the EA to not set the TP at 400pips like it defaults to and see how it goes.