Forex Real Profit EA Logo
Price: $199

Forex Real Profit EA

Added on February 20, 2013 03:37 AM
(4.5 / 5)
Trading style: scalping
Currency pairs: EURUSD,EURGBP,EURCHF,USDCAD,EURCAD,USDCHF,GBPCHF
Time frame: M15
Money-back guarantee: 30-day
NFA compliance: Yes
License: 1 real account

The Forex Real Profit EA was set up in 2010 with the aim of creating a trading bot capable of scalping consistent profits from the forex markets. Since then, the company has gone on to develop two versions (v.5 and v.6) which have now amassed 24 months of real money trading results behind them. The program tends to scalp profits over quieter pre-Asian sessions and has in-built functions that restrict the bot during news events.The EA can be purchased for an annual membership fee of $199 with a 30-day money back guarantee. There is also a free demo available to try out the bot.

Method

The Forex Real Profit EA is a scalper and makes most of its profits during quieter periods. By utilizing a number of different Bollinger Bands in different timeframes the EA waits patiently before executing low risk positions that typically last just one to two hours.

Scalping strategies generally rely on quiet markets to pick up one or two pips here and there, so the Forex Real EA uses a number of built in filters that keep the bot out of the market during important news releases - or when volatility is seen to significantly pick up. This way, the bot only operates during the most profitable conditions.

Of course, some news releases are unforeseeable but by using the filters and trading mostly through the quieter sessions, the risk of being caught out is greatly reduced and the possibility for greater profits is enhanced. 

By and large, the Forex Real Profit EA does an excellent job of scalping the market and comes equipped to trade EURUSD, USDCHF, USDCAD, EURCHF, EURGBP, GBPCHF and EURCAD using a 15 minute timeframe. However, it was found to perform slightly better on GBPCHF, EURCHF and EURGBP.

It also comes with a host of functionality. As well as being able to optimize stop loss levels, risk and profit targets, the EA can be set to a mode that allows it to trade alongside other EA’s without initiating any hedge trades. This is a thoughtful insight not often seen in other bots.

While the EA is a unique and effective scalper, it does rely on very tight spreads in order to make its profits. For this reason it is strongly recommended by the designers to use only ECN brokers when running the program.

Risk

The Forex Real Profit EA allows multiple risk settings including fixed lot size and money management settings which allow profits to be reinvested into the working capital if desired. The default risk settings sit at about 3 and were found to generate the best risk to reward ratios over subsequent tests.

Past Performance

According to the makers, the EA is able to generate average revenue per year at between 100% and 300% at the optimal risk ranges and up to 500% when reinvesting profits.

There are also a number of historical back tests available on the website, all of which show the bot making substantial returns over a limited time.

The best performer in the back tests was GBPCHF which was able to turn $10,000 into over $173,000,000 in just 10 years, with a profit factor of 12.37 and maximum drawdown of 12.36%. Although this figure is clearly unsustainable on future data, all of the back tests show good results.

EURUSD was the worst performer but still managed to turn $10,000 into $677,000 in 10 years. As can be seen, the EA clearly works well on less popular pairs as well as the main ones.

For a better understanding of the operating manner, we are also presenting the results obtained in back tests for the last 10 years for the main currencies:

  • Backtest EURUSD: from $ 10.000 to $ 677.378, Profit factor 2.89, Maximal drawdown 9.23% - LINK
  • Backtest EURGBP: from $ 10.000 to $ 2.545.059, Profit factor 5.87, Maximal drawdown 4.57% - LINK
  • Backtest EURCHF: from $ 10.000 to $ 36.602.730, Profit factor 5.87, Maximal drawdown 5.74% - LINK
  • Backtest USDCAD: from $ 10.000 to $ 179.706, Profit factor 3.16, Maximal drawdown 7.09% - LINK
  • Backtest EURCAD: from $ 10.000 to $ 66.510, Profit factor 4.15, Maximal drawdown 6.95% - LINK
  • Backtest USDCHF: from $ 10.000 to $ 866.286, Profit factor 5.50, Maximal drawdown 5.05% - LINK
  • Backtest GBPCHF: from $ 10.000 to $ 173.748.169, Profit factor 12.37, Maximal drawdown 12.36% - LINK

Future Performance

The Forex Real Profit EA has a number of profitable forward tests to back up its claims as a profitable scalper, all of which have been verified by myfxbook.com.What sets these tests apart isthat they are realistic and show a trading system that is not likely to blow up once market conditions change. In fact, the EA has been stress tested over 3000 trades and nearly 3 years of trading and comes out profitable on all accounts.

As can be seen from the test statistics, the average loss is nearly double the average win amount which is typical for a scalping bot – the small average win is balanced out by the much higher percentage of winning trades. The maximum drawdown of 31% is also fairly high but over a two year period this is a realistic figure and is consistent with many other winning systems. Risk is necessarily tied to reward so a 30% maximum drawdown amount is not always such a bad thing. In fact, it often shows a system that actually has a realistic chance of performing well in the future.

The biggest cause for concern from the test data is the fairly low expectancy of just 1.1 pips. It’s not a major problem but certainly highlights the necessity to only use ECN brokers. Ordinary brokers with wider spreads could easily turn this profitable EA into a losing system.

 

Real Account Statement 1

ForexRealProfitEA - live testing of real account
MBTrading real account
Currency USD
Leverage 1:50
1 Lot = 0.1 standard Lots
This account is used for live trading version 5.xx and version 6.xx together.

 

 

 

 

 

Real Account Statement 2

ForexRealProfitEA - live testing of real account
Pepperstone Razor real account
Currency USD
Leverage 1:200
This account is used for live trading version 5.xx expert advisor.

 

 

 

 

 

 

Real Account Statement 3

ForexRealProfitEA - live testing of real account
Pepperstone Razor real account
Currency USD
Leverage 1:200
This account is used for live trading version 6.xx expert advisor.

 

 

 

 

 

 

Conclusion

The Forex Real Profit EA is one of only a handful of EA’s on the market that have been backed up by impressive, verified forward tests.The makers also deserve credit for supporting the product and creating a functional demo that allows users to test the product for free.

So, although the bot almost certainly requires an ECN broker to operate effectively, this is without doubt one of the strongest scalping EA’s on the market - especially amongst those that only trade the pre-Asian session.

By staying away from dangerous news events and utilizing different trend filters, the Forex Real Profit EA has found a rather unique way to stay on the sidelines during unfavorable conditions. This clearly gives the EA all the edge it needs to profit in today’s markets.

With impressive back testing, sound technique and forward tests that have been verified by external parties, the Forex Real Profit EA has an air of sophistication about it.


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