Primeval-EA

[Simon]

The new Primeval-EA is an interesting-looking MetaTrader 4 robot that incorporates multiple trading strategies into one.

It is designed to work on eight pairs. It can scalp during the Asian Session but also uses grid trading and hedging.

What is notable about this EA is that it shows excellent backtest results for the last ten years - so no curve-fitting going on here, and is also delivering a reasonable level of equity growth a week (around 4%) on our small live account.

Due to the nature of the way it trades, we would recommend using a micro account and low risk settings.

The Primeval-EA is somewhat complicated and may take someone new to Forex Expert Advisors a while to set up.

That said, this is a decent product and we will definitely let it run a little longer before deciding whether we want to take advantage of the 45 day money back guarantee. Based on current performance, it's a "keeper", however.

If you do decide to try "Primeval-EA", please share your experience with us all on this Forum thread.

If you wish to try this product, please do so through our link – it costs you nothing to do so and pays for the upkeep of this free Website, Forum and Blog.

Primeval-EA - Primeval-EA

[raa]

This one sounds interesting enough, however reviews on FPA are not so good yet, pointing to problems with Sls. Possibly they mention last big gap GBP had on Monday two weeks ago. Some methods mentioned, like piramide and grid trading are interesting. EA is pricey, though. I would rather prefer a manual explained grid stuff as well as how they actually use averaging down (they call it pyramide trading) with hedging using the same pair.

[Simon]

Hi Raa,

Yes, I think you are correct - there have been a lot of gaps recently on a lot of pairs.

Best to close trades down on Friday (actually, best is to not open them at all on Friday!) regardless of whether they are in profit or not (unless you have a big trade that is in profit and the stop-loss has been moved to break even). Sometimes those trades will be taken out, sometimes they will make even bigger profits.

An EA like this that uses small take profit targets shouldn't be left with open trades over the weekend at the present time.

Simon.

[raa]

I was a victim of gap earlier as well, however my broker automatically closed my position at the next available price after the gap (70 pip further than planned), instead of doing nothing. The problem here is when you have a floating loss on Friday but expect price to revert and therefore leave a trade open for a weekend. The answer here (according to the new type of thinking coming from the trading in the zone) probably to close out on Friday whatever you have, profit or loss, to keep risk under control.

[Simon]

Yes, that's exactly what I do, unless the trade is risk free and in profit.

[raa]

Yes, that's exactly what I do, unless the trade is risk free and in profit.

Yeah but still if you keep position open even in profit and risk-free, if there is a gap in a wrong direction, it can jump your stop-loss and turn a winner into a loser.

[Simon]

Yeah but still if you keep position open even in profit and risk-free, if there is a gap in a wrong direction, it can jump your stop-loss and turn a winner into a loser.

True, although I was talking about a trade winning more than 100 pips - why not?

The massive gap on EURUSD this weekend was the biggest I have seen for a long time - but you are right, probably best to be safe rather than sorry at the moment, especially with the Euro at the moment where there is a lot of fundamental instability.

[raa]

If someone will give a try to this EA, please post your experience - this one is particularly intriguing.

[Simon]

Hi Raa,

We are testing FX Range Breaker at the moment on our VPS and will try and start with this EA ASAP.

Simon.