Comments on: Tom’s EA Review | Who Is Tom?

By: User54

User54 — Mon, 18 Feb 2013 08:04:39 +0000

After using a Demo account, I have 2 LIVE MIRROR accounts since Dec 2011 – 14 months. I continually was in contact with Support t o get the settings correct and I was told that they were correct after Support had access to my account three times. My $5K account increased by 29% in the first 6 months. At this time I was in personal contact with Tom Flora and he sent me a sharp email saying my account was fine – with over 100 positions – on my $5K account! Within days my account lost 42.2% in ! DAY! I have always wanted to believe in the EA and stuck with with more personal monitoring.

The problem with Tom’s EA is that it gets carried away “chasing its tail”! Remembering this is a $5K account and has made consistent money when trading below 20 positions, there are times when it suddenly has over 100 positions in the account. Just ridiculous money management and I can NOT get Tom to acknowledge the problem. I have continued by manually closing many large blocks of positions myself. I am fortunate to have a HEDGING account but ALWAYS there is NO EFFECTIVE HEDGING when the number of positions gets excessive! For instance, 186 positions with just 1 BUY!!!!! There are many other smaller but similar examples.

My 2nd account was $1K with another broker with NO HEDGING. This account increased 14.1% in the first 2 months and then down 38.5% in 1 day! The account gradually increased again for a 103% increase, then 16.8% loss, 10.2% loss, 43%, 12.3% and 15.2% looses in 1 Day with no appreciable gains along the way! My $1K account is now $612.45 after also paying the $97/month service charge for 14 months.

In summary I think that this is basically a good system if Tom would address the problems of over trading etc.and ignoring money management in certain situations.

By: kyle

kyle — Wed, 17 Oct 2012 18:20:38 +0000

it is the exact same concept of trading as the forexhecked. i do not understand why people complain here. of course, if both are the somewhat duplicate with each other than why people want to buy so expensive ea like toms instead buying forexhecked which is way cheaper.

By: Eric Peterson

Eric Peterson — Sat, 07 Jul 2012 23:24:13 +0000

In reply to john.

Hey John, I have not seen an update….how is the EA performing..I would think on the AUDUSD it should be a HUGE SUCCESS?

Are you making it available as I would like to use it !

Thanks !

Eric

By: wrenski

wrenski — Thu, 26 Apr 2012 21:21:36 +0000

Nothing Tom has produced has ever worked. Stay clear of this !!

By: gary tarantino

gary tarantino — Wed, 25 Jan 2012 04:51:10 +0000

I have been trading profesionally for 5 years now manually and automated ,first of all any one of you who are saying that they are suffering extreme drawdown is using settings that are extremely aggressive especially when achieving a 12 % ROI in a week secondly ,it does use a martingale system at extremely small opening positions
I have personally used a type martingale in my personal strategy and in that aproach I have a initial opening position of 1000 lots/10000 usd account balance and I have in 4 years of trading never had a margin call and have return of 52% a year, small gains but consistent return it uses the premise that you keep accumalting stock at a good price and then offload it to the market at a premium ,most instatutianal traders trade like that ,ever heard of ” buy when everyone is selling and sell when everyone is buying ”,EXACTLY
thirdly I have been testing the ea and have found it to be quite consistent ,yes your equity does suffer drawdown but the equity curve will return to a mean which is how the system works thus increasing your equity curve ,the most important thing is not to over extend your risk and you will should be fine
ONE LAST NOTE I in no way have any vested interest in toms ea except that Iwant to increase my trading account ,and sincerely hope that the ea continues to produce consistent results like it has been ,only time will tell. I hope this helps

By: Collo

Collo — Fri, 06 Jan 2012 10:53:25 +0000

I note many interesting comments, many of them being negative, it makes me wonder what risk level folk are using. From both my and my brothers experience we are happy with the end result but advise that the EA needs monitoring. A concern is the negative open trades however it must be remembered that the system is a basket trader. Both of us are showing postive profits. My account is a 50K the trade sizes are mostly .1 occasionaly .3 I am making consistently 60 ~100 $ per day, while the brother has a $5000 account and his trades are .01. Both of us use risk level 2, however He wouyld prefer risk level 1, when he can get it to accept that. When the open negative trades are getting uncomfortable we turn of the EA until the price returns to where we are more at ease. So far we have avoided a margin call by doing this.

By: Urko

Urko — Thu, 29 Dec 2011 21:17:43 +0000

Hi Guys

All of you who use Toms’ EA to trade have to be very careful becuse this robot opens too many trades and it can destroy your demo or live accounts within few minutes to an hour….It killed my two live accounts .

Take care

By: Micro

Micro — Wed, 28 Dec 2011 01:39:04 +0000

Nubie just signed up. 🙂

By: john

john — Sat, 24 Dec 2011 12:30:52 +0000

Ea is up $137 now. I am running it live on Alpari now. I had an issue with the fifo rule but it netted $40 extra because of it. Both GBPUSD and EURUSD are working well so far. On my live account…I’m up about $140. Robert….I’ll get something out to you soon.

By: zack

zack — Fri, 23 Dec 2011 17:01:36 +0000

In reply to john. Hi John, how is your hybrid EA doing? Is it available yet for us?

By: john

john — Wed, 14 Dec 2011 01:32:20 +0000

OK guys…I’m back because my hybrid ea is up $111 since Nov 16th. Now that is with using .01 lots and with an opening 3,000 demo account. The drawdown potential is $110 or 3.7% if the ea were to go to $-110 but it really has not even come close yet.

So…if you were to risk 10%…this ea would bring in about 10% per month providing the drawdown does not get reached.

But honestly….the drawdown will occur at some point. It just depends on how frequently it occurs. I would like to add the ability to trade the eurusd to this ea as well. Well that is my update….its winning so far! Right now….its got 1 short position opened.

By: john

john — Wed, 14 Dec 2011 01:22:26 +0000

In reply to chinfee. Just leave me an email and I'll send it.

By: Eric

Eric — Fri, 02 Dec 2011 18:51:11 +0000

You guys must not be usig this EA right. In fact the one guy who mentioned having a $300 or $500 in his account was definitely not using it right. I’ve used it for over a month. Even on my home account where I didn’t have all the settings right in the beginning I made over 8% clear in a month after draw downs. The mirror trader is performing better than that at about 9% in three weeks. You tell me where you’re going to get better income on your money. And all the whining on the price? rediculous! Go put your money elsewhere then and see how much you make.

By: vinn

vinn — Tue, 29 Nov 2011 16:34:15 +0000

Hi John, can kindly sent me a copy of your EA? Thanks!
vinn82@gmail.com
Its great to meet people like ya!

By: rob

rob — Mon, 28 Nov 2011 18:18:22 +0000

In reply to John.

Hi john can i try your edited ea .. robertellul@hotmail.com

By: chinfee

chinfee — Sat, 26 Nov 2011 21:50:44 +0000

In reply to john.

Hi John,
i am from Malaysia and i am a forex fanatic. i can sit in front of the computer for 10 to 12 hours watching the live charts. kindly sent me your EA for testing. will let u know when i
got the test results.
your kind attention is greatly appreciated.

By: mike a

mike a — Fri, 25 Nov 2011 02:06:50 +0000

tried the EA and has the same experience as mentioned by many, small winning trades, and huge losers, no SL. Also didnt work if you closed the computer. I was a bit disappointed cause Dustin Pass promoted it and he has been reliable in the past. The price was just stupendous.

By: John

John — Thu, 24 Nov 2011 00:00:26 +0000

In reply to poss007.

Trading microlots….its up $33 since the 16th. Currently its short the GBPUSD…1 trade on 2 pips fixed.

By: poss007

poss007 — Tue, 22 Nov 2011 15:10:51 +0000

In reply to John. So john hows your ea coming along have ya started testing it yet ???

By: John

John — Mon, 21 Nov 2011 18:33:51 +0000

Guys,

This site was meant to support Tom’s ea. I feel kind of bad about what I’m doing but I probably should not. We dont even know if my hybrid style of program will even work? And Tom is the one overcharging everyone, imo.

Therefore….if these posts get deleted and we lose comms….I will then move to the forex factory forum. The link will be called Tom’s free ea hybrid.