Tom’s EA

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Comments

Sort of trusted it enough after weeks of trialling the free demo on a demo account, that I foolishly placed it on a live account. Thanks to its irksome update intervention that requires a restart of MT4 each time and then re-authentication, the A$2050 version sometimes freezes. You then just reboot, right? Well last Monday during the start-up for the market opening, after an upgrade from V1.85 to V1.87, the TOMSEA cranked into a 40.33 lot trade followed by a 16.33 then a 10 lot and a 8 lot – all losing trades – cost me A$7650 in all before I became aware and killed it. Now it doesn’t trade, the unresolved “trades” (over 3K’s worth) just sit there in negative territory with no stop-loss, awaiting their day in the sun (whereupon they each close out as a loss). Gets my vote as the non-refundable scam of the year. Of course the Dustin Pass support email site rejected all emails after that (mailbox full). What else would you expect in FOREXLand?

hahahahha

I have wanted to warn people about what I found on my DEMO account..I also tried this on my cents account and it blows big time..

This EA is no different than Martingale EA…Dustin Pass is not a TRADER he is a marketer…Bill Poulas is also a marketer…Karl Ditmann is a marketer…Rita Lashkar is a big time Marketer and a big time scammer…

There is only couple of people that you should trust in forex market and those are Casey Stubbs, Marcello Ducille, loz len & Mike Swanson…

I have started to explore to this Marketing strategy and watch them very closely…

I don’t understand why people test their ea on live standard account…if you are going to put an on live test mode then do it in cents account or micro account…

Toms ea is actually very bad..it did not do any favor on my 3000$ demo..glad i stayed away from it…

I am not a fan of Martingale EA but i am waiting to see how this TOM EA manage the draw down. At the moment i relise that after 3 level of same lots size 0.02 martingale the 4th entry double up the size to 0.06. It’s TP is 30pip per entry. And once martingale come in it’s TP will change to average 30 pip. I would like to see how this will work out if the price keep going against the trade. Will it keep on adding new up size lot to save the trade or will it change the TP to breakeven.

“John”
Casey Stubbs recommended Tom’s EA to me. In that case, he cannot be all good?! Do you know if his Forex Catapult is any good? What’s your opinion of Greg Stefaniak, Vladimir Ribakov and Uriel Katz?

Casey is a very good man with good intention..You should ask casey why he recommend this product to you on your email…sometimes people will use his name to promote their products..if casey really send you this product u should ask him personally…casey is not the maker of catapult..tim black is the true creator of this product…I have used catapult on one chart only and so far it is a ok product because it will lose 3-5 trades before you can actually profit from it…its a trend based EA..they are still tweaking this EA for choppy market condition…That is the only downside of catapult..

I don’t recommend using this on 500$ account..u will need 2000$ if you want to trade all major pairs…

Vladimir is a self learner trader…back in march april he was struggling big time in the market until last month i heard he made well over 2000 pips in august…you can give him a try but you need to test him for couple of months before you ubsubscribe…

Oh dear, just anothe Grid/Martingale system that will blown your account eventually. I am just wait to see how long this trading account will go for. Have seen many grid/martingale system wipe out their accounts in long term. I feel so sorry for those newbies thinking that they have found a gold mine. Nothing special about this EA but just same old grid/maringale system

Yes it has change the TP to breakeven but not for every pair. This keep me wonder is this fully automated. I hv come accross a MLM company tat use grid martingale EA to trade for pamm account and able to offer 3 to 5 % ROI per month for about 2 years aready. But they are not fully auto. End of the month they will need to close all trade and offer profit so the company will increase the Lot size 10 time and manually trade and close all with, may be 3 or 5 % profit.

“Kukur”
Thankss for the info.

Are you guys saying that tomsea is the samething like catapult with same slight modifications?

Grid strategy EA, that will leave you with a mountain of open positions very much in the red. Unless you have a really huge account balance, i wont recommend this at all.

Ok first 600 pip cut loss i saw today on EURJPY. It is a interesting EA. I find it manage the drawdown quit well. Distance on level entry far enough with small lots to with stand big move. The only thing i can’t figure out is how it base on the buy sell signal. At frist i thot it was daily open above X pip buy and below X pip sell. But i relise that at the high of the day it has a sell. So my conclusion is, it is not a grid method. But I like the way when cci up it buy with TP 30pip and if fail to reach the TP and sudden cci down then sell came in and it profit the sell and at the sametime come in a buy to save the frist entry buy. This is a good idea to trade too. I still believe in come out your own EA with you are in control on.

Eur/Usd had a healthy downtrend these few days. And the open positions ballooned to -700 pips. Honestly, whose account can or would like to take such a huge drawdown. You do not have sufficient margin to do anything else. I have never experienced such drawdown even when trading manually. Will nv touch this EA ever again.

Hey Winston I agree with u man. But draw down is not the real problem as long as it still profiting on the move. My view is that i never believe in black box EA which u let someone else control the trade. This EA cannot do back test so i can’t see how it manage the drawdown on 2008 market condition. But i am glad they let us test this EA so we can learn from it. To me the success of a EA depend on Money and risk managment.

Interesting EA

Another one to employ a “grid type strategy. I have run it on a demo for a week on 8 pairs, £1000. Its “made” £144.20 so far. I say “made” because its £-98 own on the 15 trades it has open, so its only really made £47. Remember that a broker won’t let you withdraw any profits while any trades are open on an account!, (ahh some of you may not have realised this)!
So this fact alone is an obstacle to using any sort of EA that has a load of open trades that are all in the red.

Its hard to say how the EA works, because they have set-it up so you carnet back test it. In the UK, where hedging is still allowed, the EA might have a chance because it balances the bad trades with hedges and this controls the drawdown. I carnet see how it all work without hedging, because it would have to offset the drawdown on other pairs. This would be very hard to do in an EA.
So far the EA has consistently had about £-95 negative trades open all the time. The highest I saw this rise to was £-150, since then it has gone down. The EA also closed out 9 losing trades after they were about 2 – 3 days old, so there is some kind of time factor in the EA’s rules which shuts down trades that look like they are going south and won’t be redeemed.
In the end, all grid type strategies can be a bit overly risky unless they use same currency hedging to balance the risk and stop the account blowing up. Then at least you console yourself that the EA could, in the worst case, make hundreds and hundreds of trades but leave you back where your balance was in the first
place.
Would I put Tom’s EA on live yet? No, not without backtests and lots of forward tests and then only on a micro account.

John 1st comment.If your Tom’s EA was opening large lots, 40,10,8,16 lots, you had to be running many pairs and max risk. They warn over and over again against this. That explains it huge risk will bring huge losses. They shoot for 8-12% per month.

Hello Traders,
I have Toms EA on a real acount for 2 wonderful weeks and the EA has doble my $75 and its starts buying 0.03 an 0.06 lots from 0.01 lots and it blows all the money on sero time.Can some one out ther tell me what happen hear??

I had so god belive in this EA and i am so sad no :-(

If some one out ther have some god an realibel EA please
tell me

Kristian, the reason is, is that if it is a martingale system, it will start out with very low risk – 0.01 lots for instance, if it loses, it will move to 0.02 if this loses, 0.04, 0.08, 0.16 etc etc. If you have a run of losers, this pretty soon builds up to big risk. If you win, then it would go back to 0.01 (or whatever risk you choose).

The martingale feature works, because the anticipation is that you will never have more than x losers in a row. And generally you will not… until you do. Once you do, you can wave goodbye to your account. Martingale works on the premise that it is 100% successful, because it is theoretical, and theoretically if you have unlimited funds, then you will get 1 winner which will claw your losses back.

Fundamentally this does not work in practice, and is terribly bad money management, because you could be risking $10000 to gain $10 after a few lsing trades… not good at all!

Grid systems are based on opening trades with the idea that they will reverse. Again this is fine in practice, but most accounts don’t have the margin to allow this to happen for very long. This is why your account blew up very quickly!

I don’t know u guys.I have been running TOM’S EA for 4&1/2 months and my live account went from 159 to 726.Use 1 pair lowest risk ,hedge & micro acc.For me it has worked a LOT better than some ea’s.Not a true martingale.

Tried on demo acct of $3000 with 2 pairs, after 1 month balance is at $3224. Tried on live acct of $420 on 1 pair since 3/1/12, balance as of yesterday, $524. Risk setting 2. Acct micro lots. Deposit another $500 to yrade 2pairs. Slow and steady making profits!

Having read some of these comments, I have to say I’m not sure what bias people have, unless they’re just professional whingers who get a kick out of putting people off of a good product.

And as for the misuse of the word ‘scam’, I doubt if some would know a scam if it came up and slapped them in the face!

I’ve been trialling Tom’s EA since the end of October. So far the trials have been good, except when I accidentally set up an FX CFD account, which blew up quite quickly. Not really surprising.

Now, the ‘rules’ state that you should use micro accounts and, of their risk factors of 1 (for low), 2, and 3, should never go above a total of 8 for all traded pairs. So AUD/USD, EUR/USD, and GBP/USD each trading with a risk factor of 2 comes to 6 in total.

The aim is to provide a steady return of 8-12% per month.

So what has been my experience?

One account I used (because it was there) trades in mini lot sizes as a minimum. So that was one rule broken! It started at $50,000, and in the first few weeks nearly reached its margin limit. But I left it and the account rallied. This morning it’s ticking over with a balance of $550,000 and a running P/L of -$97,000. The P/L is fairly high, but I’ve seen this happening before and it has managed its way to profit OK.

Another demo account I have is a spread betting a/c (I have quite a few because I want to make 100% sure I know what the system is capable of). Minimum trade sizes here are 10p/point, which is equivalent to a micro lot.

With this one I opened up five pairs, each with a risk factor of 3 – so breaking the rules yet again! It wobbled a bit in mid-January, so I reduced the risk to 2, and the pairs to just four. It seems to have sorted itself out and closed some losing trades for -£2000 this month. Nevertheless, the balance stands at £77,000, which is a good return from its £50k starting point in October.

I tried a Tradency demo account for a month, and again that grew. It’s a micro lot account with WorldProFX as a broker. I opened it with $1,000 and by the end of the month it stood at $1,500. I hadn’t funded a live version because I was more interested in spread betting.

Finally I opened three more spread betting demo accounts, each for £5,000 but with different currency pair combinations: AUD/USD, EUR/USD, GBP/USD, EUR/GBP

All of these have hit the stated growth target and closed out the month at about 11% each.

With this experience under my belt, I have opened a live account. Obviously I keep an eye on it regularly. But it seems to behaving just as the other accounts have and is tucking away small, regular profits, and managing away the losses.

From what I can see based on my own experience, this consistently does what it says. I have nothing to do with Tom’s EA or Forex Traders Daily. I just like to invest my money where I can see a good return.

I would recommend this to anyone, providing they take the right steps to learn what it’s capable of first through thorough demo testing, and what the forex market is about.

Live testing is far better than back testing: you never know what the future will hold and so if it works going forward, then chances are it’s a good system. Back testing is based on known parameters and so results can be manipulated to give good results.

Steve

Be careful when downloading TOM’s EA. I tried on Friday last week and my computer is now being cleansed. The download contains a nasty Trojan. It initially slows down your comnputer and then freezes every time you try to get on the world wide web.

Regards,

FOREXpolice wrote “Remember that a broker won’t let you withdraw any profits while any trades are open on an account!, (ahh some of you may not have realised this)!”

I would suggest you ask your broker first. My broker says “Trades can be open when you make a withdrawal request, but you must have sufficient funds in your available margin in order for this to be accepted.”

Steve

Jack, I’m not sure about your comment “The download contains a nasty Trojan. It initially slows down your comnputer and then freezes every time you try to get on the world wide web.”

Here am I on the WWW and, oddly, my PC isn’t frozen. I’ve been running Tom’s EA for the past four months with no problem.

Sure you didn’t pick your trojan up from somewhere else?

i agree with steve i been running toms ea on live account $8000 form nov 2011 till the end of january 2012 and close my account with my broker because of their vps service been very poor. after three month and over december it took my $8000 to over ten thousand. in that three month it made me $2000 dollars. it only ones in january made me stress when the eur/usd and the gbp/usd went on a long rally but it did manage it out of it…but yes draw down was high. so overall it did what it say it will do and i belong to no one i am a single trade from Sout Africa. this was real and the only ea that made me money and i bought them all. :(

Well,
I’m a bit underwhelmed by some of the comments here. I mean do you guys ever read the manual when you buy a product? Toms EA very clearly states that this EA is not to be used for any account less than $2500. So why in the world is some dude trading a $70 account here? Anyway, my experience on my demo only thus far has been consistent with what the say I should experience. I’ve been demoing the mirror account for 3-1/2 months and am up 48% after draw down. I think that’s pretty good.

E

Hi

any one still using tom’s EA? Is it good still? please share your experience..

thanks

selvan

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