Discuss PrinceFXEA.com (Formerly PrinceFXTrading.com)

[ticksquick]

In light of what has happened to V1 and V2 as far as results go, I would not pay $2500 for the V3 version unless I could get demo the EA for at least 2 months, otherwise whats the point here. Without PayPal a money back guarantee is pretty much useless, unless its Click bank or something similar.

 

[SLFXA]

In light of what has happened to V1 and V2 as far as results go, I would not pay $2500 for the V3 version unless I could get demo the EA for at least 2 months, otherwise whats the point here. Without PayPal a money back guarantee is pretty much useless, unless its Click bank or something similar.

Just a note for everyone that uses PayPal. Unfortunately non of us are protected by software vendors or anyone selling intangible goods, in the event of fraud, breach of contract, etc, or selling anything that does not meet the description or expectations, since around year 2006. Be forewarned and forearmed with this awareness, because the ones that have no intentions of refunding anyone are well aware of payment services to accept. You are right about clickbank and similar that are proven to refund time and time again.

 

[Check]

Without any account protection (Max. DD 81.1%): http://www.signalstart.com/analysis/princefxeav3/29937

It is same as old accounts:

https://www.forexpeacearmy.com/forex-strategies/1454/princefxea
https://www.forexpeacearmy.com/forex-strategies/1471/prince-fx-ea-v2

 

[msnayl]

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

hello,
how can only 1 or 2 trades cause a failure in the account \ EA?

 

[msnayl]

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.

Hello,
wish that you can update me now regarding your usage of this EA V3 ?
do you still like it and recommend it ?

 

[Check]

Every time when his accounts burns, he seems to release a new version. Next time it will be V5. It's horrible!

https://www.forexpeacearmy.com/h/forex-reviews/14148/princefxea.com-trading-robot

 

[ticksquick]

Every single account on his web site has huge draw down, now he is running a new version for 7 days of trading with decent results. But he has a bad track record with all the older versions, and on top of that he wants $1,000 bucks for the EA. I would want a demo for at least one month, and it would have to be via PayPal with the money back guarantee clearly in writing on PayPals web site.

 

[Prince87]

Hello,
wish that you can update me now regarding your usage of this EA V3 ?
do you still like it and recommend it ?

Prince FX EA V4 has been released. The latest version is more reliable than all the previous versions.

 

[Prince87]

Every single account on his web site has huge draw down, now he is running a new version for 7 days of trading with decent results. But he has a bad track record with all the older versions, and on top of that he wants $1,000 bucks for the EA. I would want a demo for at least one month, and it would have to be via PayPal with the money back guarantee clearly in writing on PayPals web site.

Dear Sir

Thank you for your comment regarding PRINCE FX EA.
We don't think that every single account has a huge DD on our website, there got many accounts with low/reasonable DD and decent profit which may be viewed on our website or myfxbook page. We accept and understand that there are some accounts having high DD when the EA was set up on the Aggressive mode for swing strategy, however, one should not ignore the results achieved by the EA against the high DD in those accounts. you will find no single Account out of dozens real trading accounts being blown away, every single account has a great profit flow and the funds withdrawn are far greater than the funds deposited to each of the Accounts.

The 1000$ is an special promotional offer for a limited time only, the regular price for the basic plan is 2500$, so getting 60% discount on the starter plan for such a winning strategy is not a bad deal based on the result it produces in real trading accounts.

We have no issue with having the payment through paypal even in writing for money back, because we know it is very rare to happen as our EA generates much more profit than what you pay just one time to buy it gaining life time access. In any case if it happens to ask for the refund, we will very honestly keep our words to make the refund without any deduction/charges. However the terms and conditions of our refund policy must be fulfilled in order for us to proceed the refund request.

Finally, it is just about a common sense that where we ensure a 60 days refund policy with each plan of our EA hence there is no point to provide demo access. Our clients are free to use it on Demo or Real account within this period and decide itself either to continue with the EA or ask for the refund based on the performance.

We hope that we have addressed your questions based on the facts and figures.

Should you require any further info, feel free to contact our support at any time.

Thank you

Regards

 

[Prince87]

Every time when his accounts burns, he seems to release a new version. Next time it will be V5. It's horrible!

https://www.forexpeacearmy.com/h/forex-reviews/14148/princefxea.com-trading-robot

Dear Sir

Thank you for your comment.

It makes logic somehow that every bad experience leads for a better change in every aspect of life, same goes here, however changing the version of the EA has nothing to do with any account/s. We are trying our level best to improve the quality of our product and services. When it happens, the updated piece of info is associated with the system in terms of the new version. that should not be focused rather than considering its performance.

It is very common these days that some competitors use paid negative comments in order to damage the credibility of successful strategies for their personal interest. We are happy to respond them but one thing is clearly understood that if someone ever has practical experience with any product or services and if he/she declare such statements knowing nothing about the product/service, that is not considerable as it comes under the blind prediction which has not facts and figures at all.

We appreciate your questions and time, the negative statements are also fine, they are the key which leads us to be more productive and come up with positive results in future.