Discuss PrinceFXEA.com (Formerly PrinceFXTrading.com)

[Check]

Vendor: Account Live-1, Live-2, Live 4, Live 6 which are set on safe mode, and the DD is below 15% and the accounts are running for many months.

Account Live-1
http://www.myfxbook.com/members/Prince87/princefxea-live-1/2187947 (Burned)

Account Live-2
http://www.myfxbook.com/members/Prince87/princefxea-live-2/2193599 (Stop update Aug 28 2017)

Account Live-4
http://www.myfxbook.com/members/Prince87/princefxea-live-4/2270266 (Balance 0%)

Account Live-6
http://www.myfxbook.com/members/Prince87/princefxea-live-6/2328263 (Stop update Dec 22 2017)

Sorry but this is not safe mode.

 

[Check]

Hi Everyone,

Here is a link to my myfxbook for the robot v2 prince fx ea see it in action on my account

myfxbook.com/members/14037334/prince-fx-ea/2216088

This has been in use before but just watch from now

Thanks Daniel

Not good. Huge losses!

 

[14037334]

Hi I have used old account just see how it goes

Thanks Daniel

 

[14037334]

Hi all my account has wiped out discontinued witih this

 

[SLFXA]

Dear Jorora

Thank you for your response

Please be informed as I had mentioned earlier there are dozen of live accounts on our myfxbook portfoil http://www.myfxbook.com/members/Prince87 with lowest drawdown as well, We do not understand why do you only focus one or or two accounts which have high DD while there are dozen more accounts with very low DD. The Higher DD account you only point just the DD but you totally ignore the achieved return on investment.

This is all about EA setup, as you are probably not well aware of our System hence you simply assume that it might works this way by default setup, to make correction and clear it to you please be informed that the EA got three kinds of setup under its Internal Money manager Parameter, 1- Custom Lot setup, 2- Safe mode Auto lot management, 3- Aggressive mode auto lot management.

The account you have referred is set on Aggressive mode setup, hence the DD could be higher but the Return on invest is also higher as compare than the DD.

This setup is normally not recommended to our System Users, since this account belongs to us and we have to set all the three trading models to let our viewers and clients see how it works in each of these trading modes, so the Clients may see the differences and choose the best setup in their accounts.

You May see Account Live-1, Live-2, Live 4, Live 6 which are set on safe mode, and the DD is below 15% and the accounts are running for many months.

Again to mention that higher DD is all about aggressive trading mode which we admit, but in our manual book thats has clearly been mentioned to avoid the aggressive mode for smaller than 50K account. I hope you understand it.

Have a good day

Now that this EA has crashed and burned just like Prince FX EA v1 and version 2 did on FPA. What were the settings? Was aggressive mode used (in FPA tests) on such small test accounts? I would have hoped by version 3 this would be avoidable.

 

[Prince87]

Hi all my account has wiped out discontinued witih this

Respected Sir

You have been explained your cased in detail earlier. There were many reason of this happening with you not even one.

I would not be going to repeat all of the reasons as you would have received that via email form our support. however i would briefly say in your case, First of all you did not operate PRINCE FX EA in a fresh account and Use it on your peviously damaged account Marking Princefxea as title you published it on your myfxbook, which was your first bad practice to damage our reputation. Upon repeatedly sending you request you did not follow us. And you did not provide us your account details with investor password which you are actually bound to do so according to our terms, which enables our support team to keep strict eyes on your account performance and to get in touch if something goes strange, but unfortunately you havn't allowed us to do so.

2ndly you did not manage the risk by increasing the Distance input of the parameter of the EA specially for GBP pairs. you did run more pairs than what we recommend as per your account size.

Last but not least, when the operation was going one you attempted withdrawal, which is the most serious mistake, you are not allowed to do so, you can withdraw funds anytime when the EA closes all the positions and that results you saw the market the next day had a big downfall and which was the time when your positions all were supposed to be out in profit but unfortunately due to those some issues it did not work for you.

Now as we have sent you the latest system having more equity protections features and also improved entry and exit logic we truly hope that you will be enjoying your trading session.

 

[Prince87]

Now that this EA has crashed and burned just like Prince FX EA v1 and version 2 did on FPA. What were the settings? Was aggressive mode used (in FPA tests) on such small test accounts? I would have hoped by version 3 this would be avoidable.

Respected Sir

Thank you for your views. There were some issues behind the previous test, the account holder has taken one or 2 manual large positions in the account accidentally they caused this happening, otherwise the EA itself was trading well with lower DD.

In version 3 We have improved the entire strategy and additionally we launched swing trading module, add further equity protection features to control the grid orders. We are happy to see it working great and very sure that all clients will also be enjoying a happy trading session.

Regards

 

[ZuloPan]

it's strange: you have good statistics, but local users have wiped out deposit

 

[SLFXA]

Respected Sir

Thank you for your views. There were some issues behind the previous test, the account holder has taken one or 2 manual large positions in the account accidentally they caused this happening, otherwise the EA itself was trading well with lower DD.

In version 3 We have improved the entire strategy and additionally we launched swing trading module, add further equity protection features to control the grid orders. We are happy to see it working great and very sure that all clients will also be enjoying a happy trading session.

Regards

Thank you for responding to my post. This EA does show good promise so hope my previous message did not come across as being negative. I am interested in why that happened, I am surprised at FPA for this in their tests. As you said, they made some manual trades which really is not good to do when running a fair test because it could go either of two ways to make the results look worse or better than is realistically possible.

On the latest test, I can see the account received transfer of $1,200 and a deposit of $164.46 followed by withdrawal of $1,000 and $60.76 Why not just start with the $200 balance or one that has $1,000 instead. Does it not skew the results otherwise? I don't think they should mess around like this. If they wanted to start with a larger balance then those funds should not move out of the account and no more should be added either. The funds were added at the start before trades, I just don't see why it was done this way. It doesn't seem right that FPA is doing what is not recommended by the Prince FX EA developers with this test, or maybe I am being picky, it isn't what I would do in a test.

What else concerns me is having no set stop loss (for most trades) entered into trades with the brokers server. EAs that do this need very good internet connections to avoid disaster, but also if anything did happen in the event of the fault of the broker then there would be no recourse because no SL was set and the broker would not be liable for any mistakes or losses they may be responsible for. I know from investigations brokers may look into that they would not cover such losses even if the brokers servers were all to fail, as it would be the responsibility of the user and EA in use to always have SL set for safe exits. Even with a VPS the risk exists for this. Without a SL we have no way of knowing with certainty that there is no SL or exit strategy in place because we do not know the trading strategy. I hope this is not the case because any strategy whether manually traded or automated will be profitable for a period of time when no SL is set but sooner or later it will always burn the account. Some of the live tests do show this possibility. It is always the high win rate systems that have high risk, no risk or money management, poor or no exit strategy that use no SL that blow accounts for fun. Hopefully, PrinceFX EA is not this.

 

[jslimcfa]

Insanely expensive and upon reading the reviews, I decided not to buy it. Besides, they don't have a paypal among the payment methods. If I want a refund, it would be extremely difficult to get it.