Forex Real Profit EA Review

Forex Real Profit Expert Advisor Product Details

Product: Forex Real Profit Expert Advisor
Price: $199.00 (Annually)
Pairs: EURUSD, EURCHF, EURGBP, EURCAD, USDCHF, USDCAD, GBPCHF
Time frame: 15 minute
What You Receive: Forex Real Profit EA (v 5.25 ex4, dll file), user manual, updates, email support
Guarantee: 30 Day Money Back Guarantee

What’s Behind The Forex Real Profit Robot?

The Forex Real Profit EA is an Asian scalping robot which trades in a very tight one hour window each evening. This suggests to us that the strategy used requires a low volatility environment where it is looks to profit from technical close outs. These often occur as trading concludes at the end of the US session  and through the transition to the Asian open.

This time period has however become much more volatile of late. This has impacted the performance of many similar scalping strategies, so it will It will be interesting to see how the Real Profit EA copes with these new market dynamics.

The Real Profit EA comes with settings to trade seven currency pairs by default–EURUSD, EURCHF, EURGBP, EURCAD, USDCHF, USDCAD and GBPCHF. Full back tests have been produced by the vendor for each of these pairs showing the level of performance achieved over various historical time intervals.

The vendor states that other pairs can be traded with the EA although no back test results are provided. So you will of course need to conduct your own. We would expect however that the strategy will work best with the pairs recommended by the developer for obvious reasons.

How to Use The Real Profit EA

The system is provided as a straight forward ex4 file and dll. It is simply case of copying these into your MetaTrader folder structure as advised and restarting your platform in order to be up and running.

The supplied manual is concise but it is clear and does the job in taking you through the set up process. You will need to open a chart for each currency pair (15 minute timeframe) but beyond this there is little setup required. The default settings are applied to each currency pair as provided.

There are a number of settings in the EA which you can use to tailor the trading parameters. As well as the more standard settings used to adjust take profit and stop loss levels, there is also the ability to trade with a ‘Volatility filter’ and ‘Trend Filter’ and also to set the maximum level of spread the system will accept when trading.

The system can be run on 4 or 5 digit brokers and ECN brokers and would benefit as with most scalping strategies from a broker with a low spread during its trading window.

Forex Real Profit EA Backtest Results

A lot of backtest results have been made available by the vendor and you can also find examples of the system trading across a range of live trading accounts with different brokers.

For our Forex Real Profit EA backtest we made use of Alpari UK demo data. This makes sense as the data is reasonably accurate and accessible and the vendor is also trading the system on a live Alpari UK account. While of course there are always discrepancies when backtesting this gives a notional feel as to how the robot is likely to perform.

As the system trade across a number of currency pairs there are quite a few test results below.

You can click on any of the charts below to view the full Strategy Tester reports for each test.

EURUSD

EURUSD 2011

EURUSD 2010

EURUSD 2005-2010

EURGBP

EURGBP 2011

EURGBP 2010

EURGBP 2005-2011

EURCHF

EURCHF 2011

EURCHF 2010

EURCHF 2005-2010

USDCHF

USDCHF 2011

USDCHF 2010

USDCHF 2005-2010

GBPCHF

GBPCHF 2011

GBPCHF 2010

GBPCHF 2005-2010

USDCAD

USDCAD 2011

USDCAD 2010

USDCAD 2005-2010

Longer term performance from the tests looks good, although more recent has been somewhat more choppy. This is to be expected given the upswing in volatility over this trading time as mentioned previously.

The key thing to note is that the results above are achieved with a much bigger tolerance  of the spread used than many similar scalpers. Given how many of these systems have suffered of late, this is likely to be a big factor as to why performance has held up so well even as volatility has picked up. If you can trade with a broker whose spreads are well within the tolerance then you can expect to further improvement on the above results.

Note that we were unable to produce any meaningful results on the EUR/CAD pair from the Alpari Data. However we would expect the results to be broadly in line with the tested pairs.

Forex Real Profit Expert Advisor – Verdict

There are a couple of points we should mention which impressed us about this Expert Advisor offering.

Firstly the vendor has obviously invested a lot of time and effort into this system. A forum has been made available where you can find help on setting up the system and speak directly with the system vendor. You can also download a free demo version of the EA which will allow you to trial it out with a few brokers or make adjustments to the settings in order to see how it performs under different conditions.

The second thing that we were impressed by is the fact that live verifiable account performance has been made available on the website. There are a number of live accounts running across different brokers so you will be able to check on the effect that this has on performance.

From both the back test simulations and the live trading results it certainly looks like this system has the potential to perform. Of course as with all scalping systems that trade the illiquid Asian session, the broker that you pair the system with is likely to have an impact on the actual results achieved.

However paired with the right broker and benefiting from the developers seeming commitment to updates and support, this looks like it might prove one of the more profitable robots currently available.

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