My problem with Expert Advisor Forex Trading

Hargrovejay

Private
Messages
20
Hi guys,

Well, I had thought I've done enough research and hoped for the best for this program, then a YouTube video saying that this EA is a scam led me here. I’ll get right to it so here's my story - though it is still early to really say but sadly, it is looking like it may go that way as it is still a matter of time for me to confirm on my part if this EA is a scam, but I still want to give it a try. I had just purchased this EA from that guy from Russia just last week on Wednesday, Feb 24th. I sent $399 BTC to the guy and he sent me just the EAexe file with it's "DLL" secured he says, (so that it can't be stolen or cracked) immediately the next day Thursday, Feb 25th with his own instructions, minor guidance and terms that I have accepted, all somehow coded to my two live accounts I am led to believe. Of course, this is still taking a huge risk but I'm going for it up to a point. Use me a the test rabbit LOL

I had started on a demo account first to try out his EA at $5,600 to test with, but as for now I believe it is not coded to my live account details I have sent him. As soon as I completed the set up and had hit the auto trading button, my demo account shown profit about $2,400 within about an hour or so using 9 currency pairs he advised under 5 minute charts but at that time it showed I think about a 10% -15% drawdown - which is what has me mostly concerned not the profits, I'll further explain. This guy expresses minimal to close to no drawdown at all which we all know it is B***SH**. There will ALWAYS be drawdown, at least that’s what my own somewhat newbie/mediate experience has been playing around with EA over the last 4 years. I still decided let it run to see and then, my demo account is showing a drawdown up a whopping 68% but here’s the kicker – the amount in my demo account has doubled. I will try to share my screenshots here:

Demo Account 68 percent DD EAFXT.png
 

Hargrovejay

Private
Messages
20
(apologies, I'm new to this thread - I'll further explain) - So, I decided to continue messing around with the EA only by decreasing the lot size on my real, Live account with $5,064 live money. Once I hit the auto trade button within an hour I was up again about $2K but again, my drawdown showed about 15%. Call me crazy, I decided to let the EA continue to run. The next day Friday Feb 26th, I noticed the market was going bananas (this is what I'm telling myself to convince me for the time being) there was a lot of swinging not sure if that's the best to say it - but the EA kept hedging which I see for the moment it's ok - but my drawdown increased up to 27% on my live account. Since drawdown is my focus and main concern at the moment, I had deposited another $3K to help lessen the amount of drawdown and it dropped to about 24%. Here is another screenshot, but of my live account:
12 hours later - 27 percent drawdown.png
12 hours later - 24 percent DD added 3K.png
 

Hargrovejay

Private
Messages
20
So, I sent an email to the guy about his EA to provide me some guidance regarding drawdown comparing it to his YouTube live stream video where his program shows no drawdown at all, but I have yet heard a response since at the time of this writing, it is the weekend and the market was already closed. Maybe the guy is out drinking for the weekend, because I am haha who knows. It's only been one to two days going live with this EA, but here's my small minor analysis for now and call me crazy because I was drinking a little whiskey for the hell of it - I am seeing that my drawdown matches between my lot size and my drawdown, yeah it's stupid I know. My drawdown is more than my profit.....for now. But my wacky math excel thingy shows as long as if the percentage number of drawdown stays the same while my account size grows, this EA will be golden! I will give it either this week or before my drawdown reaches $5K with no growth (this is still stupid of me to risk this, but I have a feeling to ride this through), if anyone is monitoring this thread and reading through these posts I hope my current experience will help. I'll keep you all posted.

So, here's to hope this test rabbit comes out profitable!

Wish me luck!
 

Hargrovejay

Private
Messages
20
*Quick correction - my live account had drawdown up of 33%, before I later decided to deposit another $3K to help lower my current drawdown to 24%. I'll do my best to keep you guys posted, thanks.
 

Pheniox123

Corporal
Messages
108
Hi there,

Sounds interesting...thank you for documenting your trial.

quick question: does the seller have a Myfxbook link? As would be good to see how this EA performs over long periods (I.e 1-2 years)...as most EAs can do well in the initial period then go crazy/blow the account through turbulent times.

thanks
Pheniox
 

Hargrovejay

Private
Messages
20
Hi there,

Sounds interesting...thank you for documenting your trial.

quick question: does the seller have a Myfxbook link? As would be good to see how this EA performs over long periods (I.e 1-2 years)...as most EAs can do well in the initial period then go crazy/blow the account through turbulent times.

thanks
Pheniox

Hi there, this guy does not have a Myfxbook link or show any proof that I could find. I'm simply, just taking a chance to see. It's only been about a day and a half since I've started using this EA, continuing this week would be a fresh start of this month of March. I'll keep you guys posted.
 

Hargrovejay

Private
Messages
20
@Hargrovejay can you please open a new scam thread and paste your evidence there? Each scam alert should have its own thread.
Hi there,

There's already I think two threads, so I've decided to stick with this one if that's ok. A YouTube video saying that this EA is a scam lead me here and I've decided to continue through with this thread as the Admin/Assistant Moderator may be currently monitoring this one and will probably assist further on any guidance. I'll do my best to post up my own live results for all to see, it should be an interesting week.

Thanks!

FPA Forums Team Note: In general, one person having one problem with one company having their own thread works best.
 

Bluemarlin5

Private
Messages
22
(apologies, I'm new to this thread - I'll further explain) - So, I decided to continue messing around with the EA only by decreasing the lot size on my real, Live account with $5,064 live money. Once I hit the auto trade button within an hour I was up again about $2K but again, my drawdown showed about 15%. Call me crazy, I decided to let the EA continue to run. The next day Friday Feb 26th, I noticed the market was going bananas (this is what I'm telling myself to convince me for the time being) there was a lot of swinging not sure if that's the best to say it - but the EA kept hedging which I see for the moment it's ok - but my drawdown increased up to 27% on my live account. Since drawdown is my focus and main concern at the moment, I had deposited another $3K to help lessen the amount of drawdown and it dropped to about 24%. Here is another screenshot, but of my live account:
View attachment 62560
View attachment 62561
Those 8 trades your screenshot shows, all are long on USD and short on all other currencies.
It's a very simple trading strategy !
There is really no need for an Expert Advisor to do it this way !
 

mohammadx

Recruit
Messages
4
So, I sent an email to the guy about his EA to provide me some guidance regarding drawdown comparing it to his YouTube live stream video where his program shows no drawdown at all, but I have yet heard a response since at the time of this writing, it is the weekend and the market was already closed. Maybe the guy is out drinking for the weekend, because I am haha who knows. It's only been one to two days going live with this EA, but here's my small minor analysis for now and call me crazy because I was drinking a little whiskey for the hell of it - I am seeing that my drawdown matches between my lot size and my drawdown, yeah it's stupid I know. My drawdown is more than my profit.....for now. But my wacky math excel thingy shows as long as if the percentage number of drawdown stays the same while my account size grows, this EA will be golden! I will give it either this week or before my drawdown reaches $5K with no growth (this is still stupid of me to risk this, but I have a feeling to ride this through), if anyone is monitoring this thread and reading through these posts I hope my current experience will help. I'll keep you all posted.

So, here's to hope this test rabbit comes out profitable!

Wish me luck!

Thanks man for sharing! you are risky :D

Today I was asking him about the pricing... and he answer my questions on Skype, So I don't think he is drinking at the weekend :D
Anyway I like your action and I'm waiting for your result
In the past days I checked many times his EA and even take a screen recording for couple of hours but I did not see any cheating. However sometimes I think he deposit money to that live account and as I couldn't see the history of trading I can't prove this claim!

Wish you luck ;)
 
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