Trade GPT

SCAM and FRAUD!!!

I really don't like leaving bad reviews, but because I consider myself an experienced trader, (I'm profitable), I feel I need to offer my opinion on this. I just can't see how this EA can back-test so well yet does so bad on a live demo account, constant loses! It doesn't even come close to the back-testing results, and I'm using dukascopy tick data. My mistake for thinking the back testing alone would be good enough , which led me to buy this. Generally, I never buy an EA without seeing first the "life signal" results and for at least a years' worth of history and a good to very good reliability rating. Also, low draw down 10-15% or less. I'm all about low draw down not big gains. So, if you want my advice for a good EA take a look at Valeriia Mishchenko's WAKA WAKA. I've had if for over a year now, bought it when it was cheaper, and I have never had a bad month, it trades like it back tests, and you can set it for low DD, low risk. I've made several thousand on this EA. I think the average DD is less and 5%-7% monthly. If you go to her web site, I think it's cheaper. Even at 1,800 or so, it is well worth the investment. This is a robust EA professional EA. I also have her Perceptrader, I'm still testing this one, but it looks really so far. Hope this help and your find your success in trading! Denis

Avoid it

Well I feel a little forced to leave a low rating mainly because the developer has disappeared. All the trades that have closed are in profit. I am also running it on GBPUSD and I had to manually take a loss as the trade was just not in the right direction. If you can stomach very large drawdowns, then maybe longer term this may work out, but if the market has really turned it seems that the EA simply just waits. I am not convinced there is any AI in this bot at all, and I have also discovered that you can code your MT4 bot to always have amazing results in a back test, hence that could possibly explain what all the bask tests are so good. Overall, not a great experience, but to be fair it has only been about 3 months and I will leave it to run for a while longer until it either blows my small account or hopefully it gets it right and recovers. Current drawdown about 20%.

Avoid it

Not perfect, but enough to make me profitable.

I generally don't write reviews, so breaking from tradition here. I've been reading quite a variation of comments here so think its a good time to write my story. I've been running this on a small 5k live account for almost 2 months now. To verify back testing results. There are always factors that impact a live account vs. back testing, reality is that no one has a crystal ball and past performance does not determine future performance. If only it was that easy... So, for me, the EA has performed as expected, even with massive negative trade on the eur/usd everyone has been complaining about. The backtest actually does have scenarios like this one that everyone experienced the last few weeks however, when it happens in real time with real money we feel the pain intensely. I'm still on track for 15% gain month-on-month. Yes - cost of swaps, yes financing charges, yes - trade equity is tied up in drawdown... After 5 weeks, trade did turn and closed in profit (big losses on those fees though) however, EA has since opened up more trades and I'm closing the gap to 15% gain this month after all those fees and losses etc. so on total equity. Things to think about: We survived the massive drawdown in the eur/usd pair! If you don't know what I'm talking about, read the comments (also on MT5). 5 Weeks adding up to 35% ish drawdown over 5 weeks - painful! Everyone want the holy grail, so we run backtests on 15% risk and make a billion dollars in 4 years, lol. Reality is a bitch. I've lowered the risk percentage, to 6% on two pairs - I focus on aud/usd and gbp/usd now (aud/usd sucks up less equity when opening trades). So, if both are triggered at the same time, running at 12% risk over two pairs. Working as expected so far. Do the math for your own account, if 18 trades are opened over the two pairs, make sure you have enough equity to survive a drawdown, If you don't have a buffer (ie. broker only allows me to use 50% of my equity to trade and then I can draw down in the rest for 5 consecutive business days before a margin closeout occurs), I would consider lowering risk to a point where you can survive a 40% drawdown for those extreme events. Risk percentage should accommodate your account ie. don't get stuck and end up with a margin closeout. I was 1hour away from being closed out when it squeaked back into acceptable parameters (broker settings). I don't think about financing charges, swaps etc. as losses. In the end, measure your equity, which accounts for these, to measure performance. I would maybe think about adding a good equity protector EA as well. Make sure your account is set up for hedging, otherwise it won't work (also not on netting accounts). I'll think about it and do some scenarios. For now, still running this EA by itself to get more data and actual performance. Giving it 4 stars for now, might update in a few months and give a status update. I don't evaluate EA based on drawdown, I evaluate based on results and plan for the drawdown, it seems to be working albeit only for 1.5 months.

I set a risk of 5%. EA opened 9 trades at once. Currently, the drawdown is 11%. I made the author's requests to explain how this is possible. He replied that 5% risk for each trade. The overall risk is 45%. The price went in the opposite direction. Either close manually or wait for a reversal or lose 45%. Crazy EA. :)

I use risk 5. The trade is in 245 pips loss and still open. SL shows to be on 1000 pips. TPs have so far been 10-20-30 pips. It will eventually burn account. Obviously backtests are fake. I will update this review if anything changes.

Great EA. I have been testing it on my demo account since May 17 and it has increased to $1,733. 361 dollars to 1,733 dollars I don't think it will bankrupt me if I manage my risk and lots well. Kudos to the developer!

Do not buy this EA

The bot works as described. The ea functions by opening a series of 9 trades with the same lot size when it finds an acceptable trade. This does cause issues with US Forex brokers because of the FIFO rule (Rule 2-43b). The workaround that I have found for this is to compare regular risk settings with extremely high-risk settings. I visually backtest the ea using the standard risk setting that I am comfortable with and I add up the total lot size of the 9 orders and compare it to the lot size of 1 order with an extremely high-risk setting. I do this for several account sizes such as 10k, 50k, and 100k. The only issue I have seen so far is that the trades in drawdown can be held for a while so the end-of-day swap charges could be slowly eating the account. I have been trading a little with other currencies to maintain my balance while I have been in a drawdown with EUR/USD since 5/11. I plan to do some more backtesting and give 4 of the best-performing currencies their own account with fairly high risk.

UPDATE: to 3 stars because this EA may work but only on an account that does not charge for swap rates. If that is not a feature of your broker do not buy this EA. I have been in the same EUR/USD trade since 5/11/23 and it is about to go into profit 6/19/23. Well over a month of holding a trade in drawdown.

UPDATE: 7/21/2023 The creator of this EA seems to be ignoring everyone as he has gotten more and more negative responses. He won't even stand behind his own product as he took his EA signal offline after I watched his $5k account go into a $800+ drawdown. This appears to have been a money grab with the use of Chat GPT.

Le Drawdown est immense sur certaines positions depuis 2 mois toujours bloqué...

I bought this EA when it was $780. After a month and half of use, I don't think it was worth $780 then, and I most certainly don't think it's worth $1,000+ now. EA works, no doubt about that, but the long-term drawdowns coupled with commissions and daily swaps would give most users something to think - or perhaps, worry about. I have discontinued use of the EA, and wish there was a refund policy on this platform... but if wishes were horses...

During the demo test, everything works perfectly fine, but after purchasing the bot, it closes trades and only results in losses. It is advisable to request a refund as this is a fraud, and the information provided cannot be accurate. Therefore, a WARNING: Do not buy, it is not worth it, and the developer does not respond to questions.

Можете ли вы объяснить, как это работает?"

Протестировано в тестере, результат невероятный.

Странно что у такого превосходного советника до сих пор нет ни одного отзыва. А ведь он их заслуживает.