Pro Forex Robot EA Review (ProForexRobot Results)

Review of the Pro Forex Robot EA (By Ron Carter)

EA NameCurrency PairsTimeframeStrategyECN4&5 DigitsTake ProfitStop LossHome Page
Pro Forex Robot
unknown
N/AMartingale, maybe moreYesYesN/AN/A Pro Forex Robot

Performance (Pro Forex Robot EA Test Results)

UPDATE (June 9th 2010) – Account was killed in less than 2 weeks, beware of this one!

License

Pro Forex Robot will be available through clickbank for a $97 pricetag. It will not run without a valid clickbank receipt code.

Strategy

Pro Forex Robot appears to be using a form of Martingale as their core strategy judging by the equity curves studied in their backtests. While Martingale can be dangerous, there are measures that can be taken to control drawdowns in tough market conditions. It may very well use other strategies as well, but judging by the backtest equity curves, there is certainly some martingale involved. I guess we will have to wait and see what kind of features Ron Carter has to offer with Pro Forex Robot.

Instead of using a multiplier to determine the lot size for the martingale trades, the lot size levels can be pre-defined, and max out at 7.  Losing 7 times in a row is very rare.  I had to go back to early 2000s for USDJPY to find an example.  However, I suspect they did a bit of curve-fitting on the parameters to achieve this.  There are quite a few times it loses 6 in a row then gets saved by the “Hail Mary” 7th trade.

Pro Forex Robot is a Martingale EA, but you can play with the Martingale parameters extensively and find some much safer settings that are still quite profitable.  For example, instead of the default lots:

0.1
0.2
0.4
0.8
1.6
3.2
back to 0.1 if you lose the 3.2

I found it to be profitable (based on a few tests…I need to test more) with this

0.1
0.2
0.3
0.5
0.8
0.1

This results in slight losses at the 4th and 5th trades, but it is much better than a complete wipe out or margin call. These are pretty conservative lot sizes, but you get the idea.

Recommended Brokers

FX Open is a great broker for running forex robots with it’s tight spreads and great execution time during all hours of the day.

Conclusion

While Pro Forex Robot is just another martingale EA, it has taken a different approach offering new ways to control the way the martingale works. Its got a lot of marketing hype behind it, having almost all the big name marketers pushing it to their newsletters. I really don’t care about all the marketing fluff, if an EA truly works it wont need no some long over dramatic sales page claiming back tests to be live accounts… I just care about the bottom line, so we will see how this one performs.

UPDATE (June 9th 2010) – Account was killed in less than 2 weeks, beware of this one!

Safe To Buy?

YES!

Pro Forex Robot has been approved for purchase because of its 60 day money back guarantee with Clickbank.

Overall Rating

  • baby girl Reply
    Apr 9, 2013 @ 16:30 pm

    want to buy FH from click bank can any one help me with the link can not fine one

  • Lito Reply
    May 18, 2011 @ 9:52 am

    Hi everyone!., I purchased the FPR EA, and is now been running for about 2 weeks!,the results aren’t that bad! is making money about 15% of the total account zise!, I been also back testing and forward testing a real small account like my live account $300,
    I realized that a lot of people are not happy with this EA but, I think they haven’t been able to adjust the settings for the account zise they are using!,
    you always have to keep this in mind when using a Marting gale based EA, or maritn gale system whatsoever .
    if you initial Lot is .1 then your last step on the martin gale will be Lot 64,
    I don’t kow of anyone with a small account $1000 that can withstand 64 Lots+the loss of the previous ones!,..
    maybe if averyone that is having problems with small accounts,
    adjust the steps of the marting gale to:
    .01
    .02
    .04
    .08
    .16
    .32
    and also make sure to set the trade mode to super aggressive and that the trade micro lots is set to true!, this will give better results!,
    well at least is working for my small live acocunt!,
    hope this helps.
    have a great day and good luck everyone!.

  • Al Reply
    Jan 3, 2011 @ 18:24 pm

    Hi… I’m surprised at the negative reviews. I ran this EA for 3months on a demo ( faster orders and superaggressive) and it made about 15% per month. I then opened 4 small live accounts and the same performance continues to this day. It lost all six trades on one occasion ( GBP/USD) just before Christmas. But only on one account. I have shut it down until Jan 4th, 2011. I expect it will continue its excellent performance. My live accounts are all with Instaforex.

  • Lee Reply
    Aug 16, 2010 @ 11:12 am

    Hi Guy, am shocked to hear the reviews. not had much experience with the robot but it made me 10% on my demo account in 3 weeks. ive now been running live account with a little money in it and thats up about 4% in 3 weeks. However im condsidering running while im UP after your comments. I have noticed however that in my EA logs there has been several occasions when its said “cant save data” or something on them line. which i presume means it cant save the loss so it will open the next trade at the first lot level.

    any of you guys have any updates on the EA

  • Nilo Santos Reply
    Jul 22, 2010 @ 21:18 pm

    What you can wait from running the 4 pairs with only 1,000 initial deposit? Try to start another account running the 4 pairs with this settings: AUTO MM OFF, AGRESSIVE, FRIDAY TRADING ON, LOT SIZES 0.1 0.2 0.4 0.8 1.6 3.2 The results will be very different!!!

    • Andre7 Reply
      Jul 24, 2010 @ 4:04 am

      It’s been 58 Days, I have had it running on all pairs, with a variety of settings. It closed today up 0.1 % . Well at least it’s not a loss. I ended up turning MM off and that seemed to bring it alive but I have not had enough time to verify it.
      There has been no product support, I paid for VIP, they released an Oscillator of sorts with no instructions and looks identicel to Stoch.

      IT’s A SCAM. There is no Live results. When are we going to get together and go against Scammers that prey on the weak and hopeful ??

      Something needs to be done about all this EA Pump & Dump that goes on every week. It gives a bad name to the real EA developers out there. They are far and few between but they are there buried in the Scams.

      Write your Politician !!

      REFUND Requested.

  • danny Reply
    Jul 11, 2010 @ 22:08 pm

    i need to know more about the Pro Forex Robot EA live test performance from all your guys, but since saw all the post are not so good, i move my confidence

  • Peter Reply
    Jun 21, 2010 @ 12:41 pm

    Pro Forex Robot has been proven as a scam. The published results are a fraud.

  • Andre7 Reply
    Jun 18, 2010 @ 12:12 pm

    update, my 10k demo is still hovering around – 10% with default settings

  • tomislav Reply
    Jun 12, 2010 @ 1:06 am

    Yes I purchased it as well after it was promoted by the Fap Turbo team of whom I thought had some ethics and honour in consideration (obviously not). After a several weeks of demo-ing I deleted this robot. If it had an adjustable TP and SL it would have a little more credibility. Don’t bother with this one. An EA is supposed to be capable of profit and should have adjustable parameters. TP & SL at least!

  • Lysander Reply
    Jun 11, 2010 @ 9:02 am

    I purchased ProForex Robot when it first came out. I’ve been running it now on demo accounts for about 2 – 3 weeks and I have to say that this EA is a big disappointment. It killed my demo account twice both on $1000 / 1:100 leverage / factory settings. I’m running it for the last time (3rd time) on $10,000 demo / 1:100 leverage / factory settings. If the performance is subpar like the way its been performing, I will be returning it. Thank God for the 60 day money back guarantee.

  • admin Reply
    Jun 10, 2010 @ 3:49 am

    @Andre
    I followed the instruction manual exactly, using default settings and this is what happened. Account killed!

  • Andre7 Reply
    Jun 9, 2010 @ 1:16 am

    @Admin, what is that 265 pip loss about ? looks like an error that took half your account. There was no stop loss.

  • Andre7 Reply
    Jun 9, 2010 @ 1:00 am

    Which EA hold the record for the fastest decline to the bottom of the ratings? I see all the promo’s have stopped flooding my email inbox. My Account is down just under $200 on a demo using the default settings since June 1 .

  • John Reply
    Jun 7, 2010 @ 14:03 pm

    When I backtested this, I found it very strange how often it had 5 or 6 stop losses but never the magic “7” that would lead to a big loss and reset the Martingale back to the entry level (0.1 or wherever you set it). I suspected the backtests were manipulated by the DLL but didn’t know enough about MQL coding to prove it. Now others are making this claim. Be careful. The backtests (before May 18 or thereabouts) may not be accurate.

  • Davies Addie Reply
    Jun 3, 2010 @ 22:23 pm

    Admin, have you changed the Pro Forex Robot EA’s original settings? I noticed it’s behavior in the performance changed, resulting in less profitable. Maybe I am wrong, please give me any idea.

    • admin Reply
      Jun 4, 2010 @ 2:14 am

      @Davies
      No I have not changed any settings with Pro Forex Robot. It may have adjusted it’s risk after some losses it took.

  • John Reply
    Jun 2, 2010 @ 16:39 pm

    Be Forewarned! This Bot is floundering in live trading. There are many complaints now surfacing on message boards about how bad this bot is in live currently trading. It doesn’t quite live up to the hype. See my “live” experiences below:

    1. This bot has tanked my $10K demo account down 3Gs as of now. He uses flawed entry criteria with EUR/USD and GBP/USD pairs. As of last Sunday, hes lost 10/12 trades…including a whopping 7/7 ib the EUR/USD. Martingale officially blown-up!

    Hey – you jerks who threw this garbage on the market – why don’t you reverse the entry criteria so we can win 10/12 trades? Think about it – if you did reciprocal trades – we’d all be lauding you with praise!!!

    2. This bot should not be used for more than two currency pairs at a time due to margin issues when drawn down in recovery orders. Also, it should only be used with Asian pairs as he’s doing OK with these. If I only traded CHF/USD and USD/JPY pairs – I’d be looking positive right now – buy barely. And only because of the Martingale loss recovery…not because he’s winning most of these.

    3. I’ve submitted numerous help tickets and they have not responded to a single one. In fact, they have deleted them so I can’t even check the status.

    4. I am now using my spare time to blast every review board like this one to embarrass the heck out of Pro Forex until they fix it.

    Please join me in my truth-campaign

  • Jack.K Reply
    Jun 1, 2010 @ 20:45 pm

    Hi, Admin, I noticed a little bit earlier the Pro Forex Robot ‘s live statement did not look like the current one. At least it had the initial deposit which was $1000. Did you hide the balance? Can you tell me why? I went through his back test, The maximum down level is 6th trade that will close with a big profit. In some caces it closes trade at 5th trade. Can you analyze the dangerous side of this strategy? Thank you.
    Jack K

    Jack K

  • shady Reply
    May 28, 2010 @ 7:25 am

    please, update the page

  • elbrolosy Reply
    May 26, 2010 @ 11:00 am

    where is the Results?

    • admin Reply
      May 26, 2010 @ 18:55 pm

      @elbrolosy
      They are coming as soon as I get a copy, been very busy with other things lately. Should have it up this week.

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