Back-test and Forward Test Generated With : Alpari UK

Price : S500

Refundable: 45 Day Money-back Guarantee

A package consists a portfolio of 6 advanced strategies and categorize as follows:

-4 strategies for scalping across 8 currency pairs

-1 strategy for grid trading for EUR/CHF pair

-1 strategy for hedging and pyramiding for GBP/USD

So it is quite well diversified for most market conditions.

1. Money Management

Incorporated in the EA consists of their own money management system and also risk management options.

It allows the user to input their choice of risk for each trade.

As this EA consists of many pairs to trade with the various strategies, one might end up putting his/her account under too much risk.

Therefore, it is advisable to do your homework in assessing the proper strategies suitable for your portfolio first by demo trading.

Keep in mind that it may be tempting to trade all pairs in demo trading but we suggest to you to start with manageable risk that you can tolerate before increasing to higher risk.

What we recommend to start off with is not to risk more than 2% of your total equity for each trade to get used to the EA trading style.

2. Draw-down

Currently, we are doing forward testing of Primeval using just scalping method.

More information on the drawdown based on backtest result will be reported here.

3. Ease of Use

It is relatively easy to install where most of the installation help are featured in their guide.

Their other parameters featured in their EA is also explained in the guide clearly.

One thing to highlight is that user have the option of using the Grid strategy and the Hedging strategy which both can be activated by the user if he/she choose to use these strategies.

4. Honest Result

Currently, we are forward testing Primeval EA in a Alpari-UK demo account with the EA provided to us from Primeval developer Sergio C. for the purpose of reviewing and providing honest feedback.

Click here for backtest result.

Here is our forward test result:

Click below to view our forward test result

Although Primeval consists of 8 different currency pairs with scalping, grid and hedging to choose from, we decided to test on scalping first with 2 currency pairs for a start to better observe the EA scalping trading pattern.

They are:

1. EUR/CHF (scalping)  at 6% per trade

2. EUR/GBP (scalping) at 3% per trade

We have contacted Primeval about their recommended settings on which are their best performing pairs, they replied with EUR/CHF and EUR/GBP with risk levels at 20% and 15% respectively and they considered it as conservative. We found that their risk level settings to be too uncomfortable to start off with and we chose a risk level setting to better suit our risk appetite for the moment for testing.

As nowadays, scalping strategies have problem with spread issues and we wanted to assess how Primeval measure up to the period when scalping strategies will be their most active.

Currently after 1 month on our forward test account, there is a return of 3.3%. Which is not bad taking to account that we have started off with very small risk taken and a technical fault on pur part during 10 Feb 2010 that might caused both stoploss to be activated. We have observed that with every 1 stoploss activated, it will take about 3-4 trades to recover the loss back which is impressive.

More time is needed to able to determine its potential and will be updated.

5. Features

We want to highlight certain features of Primeval EA and so other than the standard features of money and risk management settings, the EA has the strategy option of trading with the grid or/and hedging.

For the risk settings portion, from its manual , it is stated that the risk level was adjusted internally in a different way for every currency pair, this means that 10% risk level is not always 10%, it is more, less or equal with EUR/CHF and EUR/GBP carrying more risk per trade than what is set by the user.

For the grid and hedging strategy option, user can only use it if the broker he/she uses is not a NFA regulated broker due to NFA regulations.

Scalping can still be used due to the parameter NFA_Compliant which allows the EA scalping to work.

Another portion of parameters are the manual trading parameters. These parameters are included in the EA which we are surprised to see as the EA can help you trail your manual trades (if you do manual trading, if not just ignore this) with its trailing parameters other than just performing its intended use as a trading strategy EA.

6. Weaknesses (If Any)

So far, we have not seen any obvious weaknesses in Primeval EA as it currently does its job as a scalping strategy to enter numerous trades for what we have tested.

7. Support

Very good support with replies to our email within 48 hours. Provided us with detailed answers to our questions.

Summary

Primeval EA may set most beginner traders back with its large asking price of $500 with the norm of most EAs now at $127. But it seems to us right now that we wouldn’t mind paying that kind of money if it lives up to its expectation of producing that kind of result it claims it to be.

Right now, according to our forward test result it is performing rather well compared to many other scalping strategies due to the number of times it enter the market and promising with a return of 3.3% within 1 month with our own settings.

Rating:

8/10

Feel free to use this article on your website or ezine as long as the following information about author/website is included.

Charlie examines existing Forex EA products on the market and starts analysing and testing critically to add to the current portfolio of dynamic and profitable trading systems. By publishing all the research papers and detailed analysis online, he seeks to educate potential investors and traders on the world of trading the forex market with automated systems.

To read more about these research papers and analysis, go to

http://www.FxEAReview.com

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Broker Platform : Metatrader 4 (Work on both 4th and 5th decimal digit brokers)

Back-test and Forward Test Generated With : Alpari UK

Price : $396 ($99 per every 3 months)

Refundable: 60 Day Money-back Guarantee

This package consists of a portfolio of EAs and is designed to achieve an ROI of at least 80% every 12 months. It includes every types of EA in the package:

1. Trending EA

2. Channel Breakout and Ranging EAs

3. Scalping EAs

4. Grid Trading EA

Basically, it allows one to profit from any type of market conditions with this portfolio of EAs. You will be receiving 5 EAs when you purchase this product and a bonus product Fractal Wizard 4 EA.

1. Money Management

Every EA comes with 2 parameters that deal with money management. It allows system user to enter the amount of risk per trade.

Managing the total risk per trade with a portfolio of EAs can be tricky. According to the forex bling team, they advised not to risk more than 5% of your account equity in any single trading day.

You are not necessary to trade all 6 EAs at one time. However, the total risk per trade for all EAs should not exceed 5%.

2. Draw-down

We cannot generate back test results, this set of indicators cannot be obtained. Draw down can be obtained from the forex bling website here.

http://forexbreakthrough.com/development/forex-bling-backtesting-results/

All of their back tests are generated for a 2 years period. This is in our opinion a very short period of time to judge for its long term performance.

Trading with their recommended settings, the maximum drawdown is up to 20% which is a relatively low draw down for a ROI of 80% per year.

Disclaimer:

It is important that you do your due diligence and be skeptical about the results posted at their website. Information can be distorted easily. It is always recommended that you test and forward test for a period of time before you arrive at a conclusion.

3. Ease of Use

Installation of forex bling is much more complicated than most commercial EAs out there. Every step is described in the manual. Some of the settings are explained poorly in the manual. Example conservative_riskmethod

Parameter to Set:

MM-Risk

Percentage_equity Used

Aggressive Level (settings available except for trending ea)

Use of Trailing Stop (only for trending ea)

Auto GMT offset

Take profit and stop loss placement are all preset and cannot be changed by user. Many settings are preset which do not allow user to perform any optimized settings.

4. Honest Result

Forex bling team advises to trade their system for at least 3 months or 200 executed trades before trading with real money.

It is important that you perform a forward test and monitor weekly so that your trades match with their live accounts here.

http://forexbreakthrough.com/performance-review/forex-bling-ea-review/

This is the link to FxEAReview’s forex bling forward test

Click Here to View Our Forward Tests

Our forward test trades with the following risks settings:

2% Evolution EA (Channel Breakout)

1.5% Thunderbolt (Scalping EA)

1.5% Thunderstorm (Scalping EA)

NEW Grid Specialist Trading Added Forward Demo Account

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