Around six hundred dollars, if I'm not mistaken. Discounted from around a thousand. There was a lengthy trader's manual which was required reading before using the product. I wrote the author, Steve Rundhammer, stating it was non functional. He wrote me back a one or two sentence reply, declaring that I used a FIFO broker, which rendered the product. A year after that, I received another email from Mr. Rundhammer soliciting me for a website which recruited people to read internet ads.
I give these guys 2 stars because they aren't actually a scam. Customer support was as good as I've received in the EA industry. I think they actually believe in their products. Unfortunately that's the best I can say about them. But even if they tweak these to come good, or they come out with a new improved product, as long as they continue with their extortionate compensation schemes you as a customer will never make money. These guys need to go back to the drawing board to design a better more stable EA, and when they've done it, they should look at selling it at a far more reasonable basis that will allow their customers to make money with it.
So, nothing strange that EA performs fine on demo account where hedging is enabled and fails on real account. Chimp trading style reminds early Leader versions by Forexbarometer. That EA was very successful some time ago and then been discontinued by vendor for underperformance, especially after introducing no-hedge and FIFO rules.
This system looked interesting to me. I copied and pasted the live statement into Excel, there are some attempted trades, many of these were cancelled.
I estimated completed trades. The average lot size was 6. I signed up for this after seeing the demo acct performance test on FPA and on seeing the results on the Trade Chimp website. Its performance is nothing like what you see on a demo account. In other words, the demo acct says it works, but it sure doesn't work in a live trading acct. This EA is a total bust. I should have paid attention to all the other 1 star and 2 star reviews about the developer and his EAs.
Stay away from this crap or you'll lose your money like I did. I started trading Trade Chimp at the end of January. The web page offers 2 options,a semi managed account with fxcm where they charge 1.
The semi managed option appears to be the best,but what you are not told is that even with the Broker raw feed you will get less than half of the trades that you see on the ATC statement. The Broker commission and the lower number of trades,not to mention the lease fee,has meant that I have made very little progress back towards my starting balance.
I have decided to cut my losses and terminate the lease. I think there needs to be more honesty regarding the differences between the options. Be careful with this one! This provider has come out with a new subscription signal ea called Trade Chimp. He makes you sign up with an IB Backbay which is a terrific IB but the seller still makes you go through an IB so the seller can make money off the trades in your account.
I posted several times on his forum about this and asking him to post his live account to verify he trades this ea on his own account. I got return messages saying this and that but the seller would never post his own live account info. I even mentioned he could give his account log in and investor password on the weekend then change it when the markets open. This way people can still verify that the creator is trading his own ea with his own money but still protecting his ea where people could not copy the trades.
What does this creator do, he deletes my posts on his forum. I call deleting those posts unethical behavior as I was asking him to prove his claims that he trades his own money with it. Not some managed account and not some demo account. Let the facts speak for themselves. Just look at the performance on forex peace army's EA forward test. This is overpriced, and it will reduce your deposit to nil. C'mon Steve, just go back and do some re-programming. As it is, this EA is shit!
Proceeded to checkout with paypal. Pay attention the software is good!!! The problem is the scam of buy for one price and if you don't pay attention you would be buying for almost double!!!!! Robert, This is Steve with Renegade Fx, I have looked through our records and I cannot find when you ever purchased a product from us. I may be mistaken, but since there are some fraudulent copies of our software out there being distributed you and the public should be aware that some of the fraudulent versions do exactly what you describe, that is they can ruin your account.
They do this as a result of being decompiled, and the person who had to restore the code making errors. They will trade ok for a few weeks and then suddenly open many, many positions and ruin the account. I hope you were not running one of them. If you did purchase from us and I am mistaken please share which strategy you were trading on which pair. Also did you use a Stop Loss like recommended in our manuel's?
Please give us all more information about your experience. Also please contact us with your purchase info so we can verify that you are indeed a verified user. Forex Robot , Performance Tested. Company seems to be out of business. Live discussion Join live discussion of BestExpertAdvisors. Video Your company video here? Court cases Open 0 Resolved 0 Not guilty 0 Guilty 0. Let other traders know if this service is worth checking or should be avoided.
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