RangeTradingRobot.com Review

Hi!
I purchased the Range Trading Robot after reading the reviews posted her on FPA as well as looking over their site. I purchased a VPS in order to test the EA on my XM.com account. I requested a demo account from XM.com just to test this EA. In the beginning for some odd reason it only traded GBPUSD and it actually did well. There results were 100% positive BUT I did remove the EA which was accidentally posted to the GBPUSD chart and reposted the EA to the AUDCAD chart on the VPS. Since I have been running the EA on the VPS test server there have been only a few opened positions and currently the positions that are open have been running since September 3, 2014. I have the system set to trade .01 lots and I believe the leverage is 1:500 on the demo account. Let's take a close look at all of the transactions from the first use of the EA on AUDCAD until now:

Buy 0.01 - 1.01750->1.01765 2014.08.28 Earning US$0.14
Buy 0.01 - 1.01099->1.01765 2014.08.29 Earning US$5.97
Buy 0.01 - 0.99142->0.99156 2014.09.17 Earning US$5.86
Buy 0.01 - 0.98500->0.99156 2014.08.28 Earning US$5.77
Buy 0.01 - 1.01750->0.98661 2014.09.03 STILL OPEN -US$27.36
Buy 0.01 - 1.00450->0.98635 2014.09.10 STILL OPEN -US$16.02
Buy 0.01 - 0.99800->0.98659 2014.09.15 STILL OPEN -US$10.04

(Note that the prices is varying while I am writing this review by the way).

Some of the points in which I find to be interesting is the following:

1. No SL is used at any time.
2. The entire account is exposed and there are very large draw downs in order to make a little bit of profit i.e. current negative status is US$53.42 and if the TP is hit each transaction will net between US$5.00 and US$6.00 which is another huge risk.
3. No other signals have been sent to the EA since September 15, 2014.

Unless I am doing something wrong here, I think that this EA is a big risk and your account can and will be placed at risk. I think that those who use micro accounts will not be able to use this EA as you will need a high balance in order to hang in there while these not so good trades turn around at some point in the future IF they even turn around.

In closing, I believe that the return on investment is not that bad but the risk in order to obtain that return is high and the length of time to see real returns could be long. If we look at the initial investment it was about US$175 between the EA and at the current rate at which the EA is functioning it would take about a year if not more to recuperate the initial investment. I will have to give this EA a TWO STAR rating as the returns are decent but the time as well as risk outweigh the benefits. I will however leave the EA running to see how long it would take to recuperate the initial investment as well as the length of time it takes to close the open positions.

*If you are from the company or someone who wants to defend the EA, I would suggest that you either offer solutions or suggestions before you get bent out of shape.

Thank you!

Good robo. But i have a doubt.

As per the manual. we are required to set only the lot size & trade close. However the Take profit range is set to 450 by default. Thats 450 Pips. It does not close position automatically when 30-40 pips in profit. Later it reverses & hits SL. Kindly suggest what should be TP range & SL ??

Test couple of days back in June and then set up on live account since August on average it close 15-20 trades per month with 40 pips take profit each. You can have drawdown on open positions which vary from time to time but I can live with it for me it was less than 15%. Further open Buy positions bring Positive swap.

I am running range robot 0.02 lot, along with other robots at my Pepperstone account, what I noticed is robot trades during certain range and stop trading if there are x numbers of open trades, it does not make fortune it is good for steady profit, now I have 3 open trades with less than $70 floating loss and so far it has closed $437 profit. it is nice tool to add in portfolio, It can go to drawdown but if you run 0.01 with $2k then you wont need to worry. Easy installation.

I bought this EA and lost half my account after the first week - about $5000. I wont' say any more other than it is now in the bin!

This EA has been a pleasure. Nice and simple, 8 full profit (40 pips) to date. Hoping for a consistent run.
Had a problem with my account and support helped me extremely quickly and efficiently. Never encountered such outstanding support in the forex industry. They even altered the EA for me to help me get trading again.
This is certainly a promising start.
Thank you very much!

I have Range Trading for 2 months now.It only trades the Aud/Cad pair . So far I have great results - 17 winners 40 pips each. I also like the fact that the Aud/Cad pays a positive swap rate for each open trade.