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Updated: Jan 5, 2015
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StatusAccountProductP/L Weekly,%Weeks testedP/L Gross,%
Winalot EA-15.0427-98.773

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Apr 18, 2010,

An Fx trader friend who knows I use Winalot pointed me here - this is the first posting I've made on FPA - and thought I should give my opinion as I've been using Winalot for about a year since it first came out.

Firstly, this isn't a scalping EA. It goes for significant numbers of pips, but balances the position size with your account size and the number of pips it's trying to make. There is one trade a day per pair. This sounds a bad way to trade, but it's very reliable. The advantage is that you take little bites all the time, and slowly build the account size. The negative is that you miss the really big moves, but when you see it working well it's a joy to behold.

It works by taking one trade a day on each of the currency pairs it trades, and setting a target and a stop loss. In the latest version the TP and SLs are now hidden from the broker by a randomiser. The randomiser works quietly in the background, looking for the hidden TP or SLs. I think they did this so that there won't be a build up of orders on a broker's books, so when the price is reached, it's a genuine close of the trade at the price wanted, hopefully without slippage.

Some new currency pairs have been introduced with this latest version, but I only use it on GBP/USD and USD/CAD. I'm going to get a demo on the other pairs before I trade them live.

Is it profitable? Without a doubt, although there are rare periods of drawdown - but I understand that the latest version has modifications to improve profitability further and minimise any drawdowns - fwiw the last significant drawdown was in November, but we've now more than made up for that.

So, overall, I rate it very highly, because it's extremely reliable. The other thing that's a bonus is how sincere and helpful the owners of Easy-EA are. The backup is really excellent - This is no fly by night brigade. They respond to questions / problems very fast. You might think it's just me trying to sell this product, but I am nothing to do with the company, and if you ask on other forums you'll find other people with the same opinion about this company.

And another neat thing -you used to have to copy all the files over by hand, but the new self installer does it all for you. It's a great boon, because I used to put stuff all over the place and have to email support because I'd messed up the install (and they were very helpful), but it now is all done for you.
Easy EA Support,
Apr 9, 2010,

We've submitted our Winalot EA to FPA for review.

Although Winalot was first released at the beginning of 2009, it has been updated since and the latest version features some significant modifications to the previous versions. It now includes a unique Randomiser to avoid a build up of market orders at the same price, multiple currency symbol support and improved control of drawdowns.

The instructions are comprehensive and setup and installation are very simple.

At Easy EA, we are reknowned for the support and assistance that we provide to our users. If anybody here has any questions, we'll do our best to visit the site regularly and provide the answers.