Comments on: Toms EA Consumer Reviews

By: Tracker

Tracker — Fri, 24 Aug 2012 16:40:14 +0000

. I traded two months on a Demo account and the demo was showing a good increase. So, in Feburary I opened two live $25,000 accounts. One with FXDD and traded using Profit Agent. One with Forex.com without the Profit Agent. The settings on both accounts were the same 2 EUR/USD, 2GBP/USD, ! USD/JPY and 1USD/CAD. The first month both accounts showed a resonable profit. The FXDD was slightly over $1,000 and the Forex.com up over $1,400. The following monnths varied considerably. The drawdowns durin april and May became more extreme. But the end of May the Forex.com drawdown was over $18,000 and the Profit Agent drawdown was $7,000. I stayed with Tom’s EA as the market seemed to be turning around, however the recovery was almost non-existant I stopped trading with Tom’s EA. My mistake was not setting a stop loss limit but I really wanted to see if this EA would recover as promoted. I figured it may take years to reconver the drawdowns and I didn’t want to risk additional capital. Having tried several EA’s I’m convinced there not really that successful unless you can manage it successfully yourself.

By: Keith

Keith — Sun, 06 May 2012 08:11:27 +0000

I have no bought it yet, but is doing some survey and research before deciding.
if my research result turn out good, I plan to purchase it and test it for a months using demo account.

For a 5K or 10K USD live account what setting do you think I should set.
Will TOM teach you to set the parameter and highlight the rules of using?

By: Robin G

Robin G — Fri, 13 Apr 2012 09:07:08 +0000

Hi All,
The first thing I want to say is that I am a very cautious, conservative Forex trader who, like so many people, has wasted a lot of money falling for scams. This is an honest unemotional report on my experience to date with Tom’s EA.

I’ve been running Tom’s EA for about three months. I don’t believe that three months is long enough to get a really reliable opinion. (Can you ever get a really reliable assessment of anything to do with Forex). Newbies be warned. It’s not for nothing that you see the warning about the fact that Forex can be a very, very dangerious game to play if you don’t know what you are doing. Here are the facts of my situation.

I am running Tom’s EA on three live accounts. The first was opened with about $15,000, the second with $10,000 and the third with $8,000. So far, (and I stress that this is after only three months) the EA is doing well. There have been about three scary drawdowns of more than 20%, but after two or three days, the EA sorts itself out in profit.

It’s generating an average monthly profit of between 5% and 10%. I personally am very very happy with that and I have absolutely no interest in upping the risk in an attempt to squeeze more out of it.. In my personal view, the most important and fundamental lesson in Forex – DON’T BE GREEDY. I’m not going to go into the details of the settings – it will take too long – but I will say this. If you ignore Tom’s Best Practices advice, you will be courting disaster. I suspect that that is where many people have come short with this EA.

Something that will put a lot of people off is the price. $2000 is a lot to pay for an EA. And don’t think that you can hijack the source code because you can’t. It is not on your computer. Every time you reboot or log in, you have to be “authenticated”. I personally have no problem with that. If I had developed it, and it keeps working as reliably as it seems to be working after three months, I would not want it stolen. In my case it has already paid for itself.

Re the drawdowns, I do get a bit worried. But I watch it like a hawk. I check my three accounts at least twice or three times a day. If it were to get out of hand, I will manually close what has to be closed

Something else I should mention is that the support is not great. Sure you get a response in less than 48 hours, but whoever responds from the support team does not seem to take the trouble to read and understand the question. I would give them 3 or 4 out of 10 for overall support.

Last point. Don’t get it if you can’t use it on an account with an opening balance of at least $2000 or $3000. In theory you could open an account and use it with $1000 or less, but I don’t think you can expect to get a return of more than 5% absolute maximum with a balance of less than say $3000.

As I said in the beginning, is is a report of my personal experience with Tom’s EA. I don’t know what is going to happen down the line in the future. Only time will tell. If you want to email me with questions, you are welcome.

Robin Knox-Grant

By: Mike K

Mike K — Fri, 27 Jan 2012 13:17:34 +0000

Well, I was really impressed with this system, for the first two months, which ironically is the money back guarantee period. It did indeed have a nice steady growth curve, although there were a couple of instances where the system held losing positions, only to reverse and come out with a profit. In fact after a little over two months, the system was up 40% which was incredible.

Unfortunately, despite claims that the system had been improved to negate big drawdowns, within a matter of a few days, the profits disappeared and now the account is down 18%, which is a swing of 58%!

Don’t know what to say but that is just pathetic to just squander that kind of performance

By: irwin

irwin — Thu, 27 Oct 2011 23:18:06 +0000

did not get the username or password…. and there is no way to determine if this is the right place to post… i used the above e-mail address to reveive the same but did not get it.