I have to admit that for most of last year while I was still demo trading, I favoured no-loss trading strategies such as those employed by Forex Goldmine’s Robominer, and I still think such a strategy has a place for those with deep pockets, time on their hands and a willingness to accept a long-term conservative return of about 5%/month. I stress “long term” as the market cycle can take months stretching into years to realise profits when there is strong trending as there has been with the AUDNZD, the main currency pair traded by Robominer.
However, this post is not about Robominer but about Primeval EA, a scalping EA which so far has managed to close all its trades (including the losing ones) and still make a profit of 8.95% in the last month on a live account. In fact, my Primeval EA demo account has not fared that well, and actually has a few trades open at the moment mainly due to the fact that I DID select Primeval’s own EURCHF grid-trading no loss strategy for a few days when I started trading. 7 weeks later, the market still has not brought those trades back into profit. So for anyone that is planning to live trade with Primeval EA, please don’t use the grid trading strategy unless you have at least $2000 in your trading account that you don’t need to touch for 6 months at least.
For those who are able to invest $1500 and some time, ($500 to purchase Primeval EA and $1000 to fund their account), based on my first month of live trading, this EA would pay for itself in just under 6 months, and thereafter would be making about 9% (or more) per month as ROI on the $1000 invested. Interestingly, I did an analysis of which currency pairs were the most profitable, and based on the last month’s trading, I would have made closer to 17% return if I had simply omitted the EURGBP and the USDCAD from Primeval’s repertoire. All the other currency pairs made a net profit on their trades.
Just a hint to anyone who is thinking of purchasing Primeval EA, I have been advised by Sergio Caruso, the administrator of the Primeval EA website, that the price will be going up by $100 on April 1st, so if you want the clock to start ticking now on your trading program, best to join in the next week, not only will you save $100, you will also start making money on live trading. This is not in any way guaranteed of course, and no one can guarantee these kinds of returns, but even if you make enough to beat your credit card interest rate you are still ahead. Just a thought.
Greg Annett, Webmaster