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Alvin-trader.net Review Visit site

Updated: May 1, 2016
3.319 · 7 REVIEWS
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The Alvin-trader MT4 EA is a forex expert advisor. The Alvin-trader automated forex trading software for the MetaTrader platform has been forward tested on live accounts by ForexPeaceArmy. The Alvin-trader.net forex robot works on four or five digites quotation.

Alvin-trader.net

Performance tests

StatusAccountProductP/L Weekly,%Weeks testedP/L Gross,%
Alvin-Trader+6.428+64.483
Alvin-Trader v1.2+7.0221.5+330.096

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3.319 · 7 REVIEWS
Forex Peace Army
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John Allen,
Brisbane, Australia,
Apr 29, 2016,
Guest

I normally avoid EA's using Martingale, but decided to give this one a go. I started on 15 Feb 2016 with $300 deposit, and by week 4 the balance was $483. It then had a series of losses, dropping the balance to $206. This happened after 5 Martingale trades, but interestingly, it didn't take a 6th Martingale trade. I wondered whether this might have been because another loss would have blown up the account, but when I asked support, I got no reply. I then let it continue trading, and it grew back to about $440 before getting into another series of losing trades in week 11. I decided to close out the last trades manually, when the equity was $400. I then closed it down. I did a careful analysis of all my trades, and concluded that if I had been able to limit the number of 'recovery' trades to 4, my account would have reached around $600. I believe this is the key to it....to limit the number of recovery trades, and therefore reduce risk. Unfortunately, the EA does not have an input to enable the trader to do this, and when I asked support whether it could be done (explaining he benefits), I received no reply. I noticed that the developer's own account also suffered a number of big draw-downs (see account here in Forex Peace Army), but even so, the account had made excellent profits during it's life. I've used literally hundreds of EA's, and I'd have to say that this was one of the best. The flaw is the risk of big draw-down, and although I've demonstrated how this can be avoided, the developer is apparently not interested, and has not replied to me. I now see that the developer's account is no longer updating, and his website also appears to have closed down. When you go to it, it just shows a lot of Russian text, which I unfortunately can't translate.
Pablo,
Warsaw, Poland,
Apr 23, 2016,
Guest

The fact of the EA being super risky is not a bad thing provided you understand the risk you are getting into. From this point of view nobody can claim anything against the EA.

What I am concern about is the author deleting the system form here http://www.myfxbook.com/members/AlvinTrader/alvin-trader-v13/1575217.

Let´s hope he will not try to show up again under a different name once a new account is successful enough.
Chris,
, Austria,
Apr 11, 2016,
Guest

I purchased and startet the new ALVIN Trader v1.3 in April, to see the account loose 50% in the first 10 days, trading both pairs EURUSD Aand GBUSD. The Euro was in a sideways channel for days. Trades have a 50 Pip SL, but open an opposite position with double lot size on every Sl hit. This Martingale strategy has no Equity or account protection and therfore will continue doubling lot size until the account blows up - what happend in April. I can not recommend this EA, unless used with seperate Equity protection EA.
Robert,
Riga, Latvia,
Mar 16, 2016,
Guest

Excellent adviser. Despite the fact that there is a doubling of the previous lot. Martingale is very rarely used in 15-20% of cases. I started to use it with the January 24, 2016 and by that time a profit of more than 200%. Thanks to the developers for timely support. Since the expert had a bug that opened excess order with a larger lot, after an appeal to them, they fix it within 24 hours, and released an update.
I put 5 stars because they deserve it.
ladybug,
Chicago, USA,
Mar 10, 2016,
Guest

i have been running the EA 02.11.2016 both on demo and real accounts. I had 30 000 USD to start out on demo and as of today i am at 101 143.80 USD! this a a great EA! yes, it does double up after a loss, but it does recognize the amount of equity in regards to balance and it controls risk! Real account i have at 75 % the risk of my demo and it is positive and safe too! I have enjoi]yed communication with the developer : quick, accomodating, sends updates as promised! I can not say yet that it is a holy grail for EAs , but so far, i have never been happier with an automated software than this! Thank you! And i hope the developer makes lots and lots of money selling his EA as he deserves it! And please, remove this negative idividual from Tailand or whatever, he does not belong in this community as all he does is lashes out
Vicent Tan,
BKK, Thailand,
Mar 5, 2016,
Guest

this is MARTINGALE,,,,,, finally burn account,,, is only time

repeat is MARTINGALE
T Castle,
Indiana, USA,
Jan 10, 2016,
Guest

I have purchased this EA and done some testing, but I would not recommend this EA to average users, nor will I use it on any live account. I cannot really figure out the entrance strategy, but that aside, to achieve the results as posted on FPA this EA uses a Martingale strategy (although the developer says it is not Martingale??), which if continued, will very likely at some point destroy your account. You can turn the Martingale (or lot increasing setting) off but you will not see the type of gains posted by the developer. You may still make money but the average loss will be about 10 times the average win, so it really does rely on the Martingale to make profit. If you do use it, I would suggest withdrawing any gains as quickly as possible.