After just 3 months of live trading Toms EA (by Tom Flora) has returned over 5,130 pips.
Soon to be release for a very short time, Toms EA is a Forex Robot with the following attributes:
- 2.23 Profit Factor
- 74% winners
- 35 pips ave. winning trade
- 78 pips ave. losing trade
- 1 day ave. trade duration
I’ve been luck enough to get early access to Toms EA and have it in the Forex Lab for testing. Let’s see how it performs:
Test 1: Vendor’s Live Test
View full (and updated date) Statement
Currently running Toms EA on Alpari UK, testing started on 3rd February 2012 after receiving a full license. Current results are as follows:
| Current Floating Profit ($) | Total Balance ($) | |||
| -1004.62 | 4694.25 | |||
| View our Toms EA Demo Test Statement | ||||
Lab Result:
hi Cam, does this ea work on ECN account?
Yes, their recommended broker is ECN.
I’ve tried the trial version, it opens trades against each other and close the winning ones and lets to run the other until it turns back (hedge).
One thing I don’t really like is that it lets trades open for the weekend.
All in all it’s not bad but I never let trades open for the weekend!
I was part of the beta test, It worked well but when they launched it the price was astronomical. I was making a lot more money with MDP so couldn’t really justify spending 2k on it.
i was also am still am a part of the beta test. this ea is pretty amazing in that in the first two days it hit a profit target of 30 pips 7 times in a row and also then hit a target of 98 pips. on another day it made 210 pips.sounds great until you consider that at the time of writing it has 3 open trades totalling a loss of 1000 pips!it uses no stop limits.these trades are improving but even if they reach BE then the risk would still have been huge meaningthat you could only trade it with very small lots and that means that you could never make large profits unless you had a very large account.i will ind the trial this week and will not purchase,especially at the price of $2000!!
Im testing toms ea at the moment and its doing ok, no massive draw down so far, but i cant see anyone paying $2,000 for it. $67 or $97 may be!
Hi Cam, out of interest whats the most expensive EA you have come across? and was it any good?
$25,000 – wasn’t willing to test it as it sounded much like Million Dollar Pips.
Hi Cam, we are all searching for the holy grail of EAs i guess! have you thought about designing your own EA? you mus have seen enough of them by now, to design a brilliant one!
I really dont know how much they intend to charge for it when it re launches, the first launch was for straddle and oracle users only, maybe they thought they could get away with it because we paid top dollar for those ea’s. I’m still not going to get it, I dont like the way it trades esp when it leaves trades open over the weekend.
Hi guys. I am also lucky enough to get a hand on this EA. However look at the circle in my picture. Am I being cheated by Go Market. Let’s people judge it
http://ne9.upanh.com/b1.s5.d2/dfefe18f0c654a541dc168324a5d78c9_37333429.gomarketcheating.png
toms ea, im not so sure £22 in profit taken, but loosing £180 in floating trades. What does everyone else think?
do not use this ea. have just closed open trades at 2000pips down. there is no limit to its losses.i thought this was brilliant at first but it is plain dangerous.anyone can trade with no stop limits!! AVOID.
Think im going to agree with you marka, far to many open trades in the negitive for me. unless you have a massive bank account and can wait for the market to change, i think your going to loose a lot of money with this EA. To rich for me im afraid!! im glad i only had it on a demo account
I tested Tom’s EA and was impressed at the regular consistent wins (I was using it at lowest lot settings on all currencies – I know they say for small balances trade one currency but hey ho – i thought just reduce the lot sizes and see what happens on demo) and was impressed at the trading frequency and consistent daily wins. .. Then came the bombshell on the price announcement ..cough/choke/cough some more – call the doctor in!… I ‘understand how they could target the average Joe and after allowing the trial then hit everyone with that unexpected price for the ea!!…even the monthly option continued along the crazy price lines asking for down payment of 3months in advance? – like …. WHY!!!) surely if the system was consistent they would feel confident that 3months time all monies would still be rolling in for them?… oh hum…back to the trial… it could have been after the date expired on the trial – but my trades all suddenly started to go into a large drawdown… This didn’t happen in my trial… the drawdown was on acceptable levels adhering to my risk management – so question for me still remains – was this sudden drawdown in orders due to the fact that the trial ended and the system altering its settings? – or was it showing the EA had lost steam and this was what was in store for the future? as lots of EA’s do after a short period of exceptional results then? Gosh – not forgetting… Then there was the marketing hype – we close doors forever on xx date… They well oiled their doors as they’ve swung wide open AGAIN! – with announcements of another close doors forever sign on it. Maybe their doors broken why it re-opened after they closed it forever? As far as I am concerned – they need to sort out the pricing structure to reasonable levels… show confirmation on the results following the sudden order changes and maybe let us know when they expect the carpenter in to fix their door so we know when the doors are really going to close.
Great post Jen!
Good point about the large DD also… Is it due to the trial ending??? Who knows, maybe the test above will tell us.
Great post jen, I couldn’t agree with you more. I know the guys at forex traders daily aren’t scammers but unfortunately I think this could end up giving them a bad name. If I was them I’d never trust an ex CEO of a forex broker!
About 9 days ago on Market restart on 24 Oct, the unavoidable automated TOMS EA update to V1.85 and revalidation killed my account by entering 4 trades at 40.33 lots, another at 16.33 lots, yet another at 10 plus lots and it was all uncontrollable and undo-able by the time it happened. Losses were massive. Broker just laughed and said I wasn’t the only one. Shortly after it was updated to V1.88. Apart from the $4+K drawdowns and large losses that eventually accrue from that, the EA is far too risky – as well as being arguably non-profitable. Account size may grow slowly but the equity fades in proportion. Of course all the emails for support just bounced back (“email box is full”) – as you’d expect. No success since in getting any “support”. In my view there’s no wonder they have a nil refund policy and a $2K price. Dustin Pass has squandered any credibility over this EA and it’s obviously Tom Flora’s last hurrah prior to retirement. Enter at your obvious risk.
Hi Cam/Jaggermikester, Thank you for your kind words. I should learn to control my sarcasm levels tho tee hee heee….. Gosh – John – what a scary story you have about Tom’s EA. My warning bells are ringing akin to new year celebrations now with no let up. I’ll close my interest down on this one. Getting scarier by the minute! Cam – sorry to mix up postings but- new one filling boxes presently – rapid forex profits – I’m not hearing good news stories on that one either ..just in case you pick it up..I was tempted to – I’ve heard you don’t get the ea for the initial sum paid – just signals…extra costs for membership and also the actual EA – no customer service answers to emails being said.. the list was as endless as my christmas shopping list. I might take a look at Rita’s new indicator..she always amuses me at how many products she can bring out in a week and still give name to tee heee
I’ll keep you posted.
thanks for the posting Jen. have now found a way to make a profit from toms EA. i am a carpenter and i am going to go and fix their doors for them. will charge $2000 or they can split the cost over three months etc…. thanks to the info gained on this website,i won’t be a carpenter for much longer so they better get in quick before i close my doors,for the last time,until next time, marka.
Guys, used the EA on demo and this is a time bomb in the making.It takes a short position, market goes against it,it takes another short,market keep going against you and it takes another short position, and this goes on till market start reversing.Takes profit on positions that comes your way and leaves the rest open!I gues it work on one theory”What goes up must come down” the only problem is “when”..guys stay away..Murphy’s law on averaging bad trades never work…
Thanks Guys – shame that – it started with such promise. Yes Marka- looks like they need your services to help finally close their doors on this one
.. I’ll help you – free of charge!!
PLEASE PLEASE don not use robots that do not use stops, I can asure you you will lose your account in the blink of an eye.
Take it from me I have lost a couple of accounts using EA’s with no stop losses, more recently when the SWISS BANK interveined and the USDCHF & EURCHF flew up 1000 points in 1 minute.
There is no one in this world that had an account that can out last a market move, just remember that.
Dino.
If use small lot size is still ok, because when market flew up 1000 pips in 1 minute, it can open another trade with larger size to recover by retracement. But this kind of system must be less profit. I won’t use them. If use, I rather use IFO–a free robot with no loss with 5%/month and safer
Hi,
what is IFO robot? Can you give us some link?
Thank you,
Kamil
a free robot that has no loss and 5% a month! tell us more mr kuan!
Search yourself, its name iifo 1.0
My suggestion is, never use it on live,
because it uses Martingale, one day your account
will blow…the day will come…
Mr Kuan. If you dont reccomend using it on a live account, then why would you rather use it?
Hi all how is Toms EA doing now? still large draw downs?
The lower the depths that the Euro plumbs, the greater the embedded drawdown (eternally insoluble as the Euro will never again see the prices that the drawdowns are locked in at).
The hazards of a high frequency trader (HFT) with nil stops. Deadly EA.
i speak to a guy on another website who loves this ea. he is happy with a modest 10% monthly growth even though this thing has got 17 open positions all losing loads a money!whats the point of making $1000 if you have bad open positions worth $10000? forex hacked is the same,nuts! stay away!
Hi, I have have reverse-engineered Tom’s EA to trade all 28 major/cross pairs and XAG/USD as well. All 29 pairs are profitable. The risk and lot size is fully adjustable with no 1, 2, 3 limitation. And it mirrors TEA’s trades very closely. The technology and code is NOT unique and I know it has been cobbled together from other EAs and well-known code subroutines. Any competent MTQ programmer would be able to build one too.
However, you need to listen to Tom’s money management rules – it is key – and no one seems to follow it. It’s fun to watch $100K turn into $150K in 10 days. But would you really try that high risk with Real money? Basically, $2500/pair works well and does better than 15%/mo. Yes, there will a drawdown at the start – and this is where most people’s account tanks – but over a few months you see that the CONSTANT open-order negative balance WILL be overcome. This is seen on TEA’s live/real myfxbook account (don’t know the url right now but it is easily findable). My EA behaves very similarly. My point is there’s alot of TEA-bashing here, but I believe that if you trade patiently ($2500/pair, 6 pairs max), then the account will NOT blow up. even with the current EUR dip.
I have been using TOMS ea since 27 NOV.Dec. has been a bad month lossing $300. Profit now only $100.
This is on a $5000 actt. with Toms mirror Trader, trading 2pair, ERU and GB
Hi Drew – Your update was an interesting one. Kind of you to share your personal experience with the EA. I am pleased for you that you have progress – although I think more people have more experiences likened to Robert’s than yours?
(This by the way CAN happen – I tested an ea on demo and after a month of it working consistently – it did just that – it suddenly changed the lot sizes and went into crazy land absolutely killing the demo account of over $3000 in one day/matter of hours – so it can happen when an EA goes faulty – hence the need to test thoroughly on demo first!!!!) Anyway…getting side tracked… My contact approached the support staff of Toms ea – for assistance as it had literally demolished his account and was told – he says – that “HE” had changed the lot sizes?? (??? ….Some more) and that was the end apparently of their Customer Support/Assistance to him !! – even though he told them he hadn’t changed anything? ….I find that a very worrying story to hear. I also find it very disconcerting about the large drawdown’s I personally experienced testing the EA on low setting.. AND while I’m at it – the surprisingly high cost of the EA thrown at people with no prior inkling to it – and un-user-friendly payment terms of 3months monthly payments in advance required? … Things just do not seem to be too transparent and I find that rather concerning? – I wont even waste anyone’s time going into how many times I’ve seen the notice saying their doors are closing for good? …I just checked – looks like they no longer have a door? – maybe it was stolen? – no shut sign advertised anymore? – open for good now?? .. WHAT WAS the close for-ever stuff all about then??
I tested the EA and it was on the lowest possible settings – and after the trial period ended – the very next day? – the drawdown went into crazy unacceptable levels – on the lowest possible trading setting. I would like to see live proof in the form of more trials being offered to people to test further to ensure this issue is not a continuing problem with the EA – I am not unconvinced.
One of my contacts advised me that he had tom’s ea running on his live account and it changed the lot size settings? – and his LIVE account was literally “demolished”. He advised he did not change the lot sizes himself and personally I can’t see why he should get a sudden bout of amnesia about it? …
There are a number of issues I think this company need to address and unless I personally see evidence of this happening – I class this EA as unsafe and unproductive for the average trader/size of their account.
i have to agree with you Jen.have used this on a live account and it does change the lot sizes when it sees fit,usually to try and recover several bad losing positions quickly.i lost quite a lot of money very quickly even on the minimum lot sizes.if drew likes this then he may also like forex hacked.not for the faint hearted! or anyone who believes that every trade you place should at least be sensible otherwise you are just guessing,not trading.
Well it seems this is getting a pretty bad rap so I thought about putting my experiences here, I have this running on 3 accounts and so far all is good, There is no way in the world this ea should blow accounts Ive had it running on my pepperstone account which has a lot less than the prescribed amount to trade 1 pair on low risk setting and I had it running over the xmas new year period and its still making a nice steady profit. I run the usdcad pair becuase of all the turmoil in europe, the highest lot size I saw it go up to was .09, Im not the only person having suceess with this. Tom has a live forward test on his website, there are also people in other forums I know of having success and some people I know fairly closely also having success with it. This has got to be one of the easiest eas to set up and it doesnt take up a lot of ram on your vps.
TOMSEA is the deadliest EA ever foisted upon an unsuspecting clientele of easily duped traders. And of course it’s inventor and vendor “TOM” is a broker. What else? With the EURO pairs headed inexorably down to a EURUSD of 1.2 or below within a month (two at most), there’s no way any drawdown won’t become a margin call.
Hmmmm well cams live test statement must be fake then? lol
hey jaggermikester, I can see from the Live test that it’s behaving normally. By this I mean, whenever there’s a loss order, it is ALWAYS accompanied by 1 or more wins that, as a group, are ALWAYS positive. Or, thinking of the group basket as a single order, all closed orders are positive!
BUT, I noticed something weird in August. There were several loss orders, all by themselves. And, initially, the program was setting stop losses.
I have emailed their support department to explain that. I can only speculate that it was due to a previous version of the program, or there were some Manual closes. I’ll report their reply here, hopefully soon.
Hi Guys,
Sounds to me like it can work but there may be a bug for some regarding random position sizing (not so good for an EA which expects some DD).
Will be interested to hear how those having success are finding things after Q1 this year. Could be worth looking into if you are happy for your account to sit in DD for a while… not my cup of tea however.
Hi Guys. There is no Random lot size orders going on. This is just part of the modified-Martingale stategy built into the EA. Basically, you will see a tripling of the lot sizes as the trade gradually becomes more favourable. (side note: a ‘trade’ in this EA could be a group of 9 or more open orders – notice that related orders all close in 1 group at the same time). And this number depends on your Equity – it’s always lotsize = equity*risk level/1,000,000, times the 3x (or higher) factor needed to make the ‘basket’ of open orders positive.
And by this you can see why Tom emphasises not trading too many pairs at too high of a risk. I struggle myself at trying to be this patient. Your big clue when you’ve become too risky is when the profit exceeds 12 – 15% / month. This is a slow, but steady EA which is very unforgiving during the first several weeks, so don’t iniitate your accounts with less than $2500/pair.
Hope that helps.
-Drew
drew,how are you doing with your reverse engineered version of this EA?.forgive me if i am wrong but this type of strategy seems to be similar to forex envy which is doing impossibly well at the moment.is the biggest difference that envy uses a lot more pairs than a standard toms ea and therefore is quicker? although potentially riskier.your version could well be the answer if you are doing well with it. i would appreciate your latest update on this interesting ea,cheers marka.
Hello. I have the EA running on 2 accounts since October. First account, 1:50 leverage with no hedging, started with 1200$ and now at 1503$, RL is at level 1 on one pair (EUR/USD), DD stayed under 250$ and comes back to zero almost every week (currently at 47$). Second account, 1:400 leverage and hedging allowed, deposited 764$ and now at 1269$, DD stayed under 275$ and comes back to zero at least every 2 weeks (currently at 37$), RL level 1 on 1 pair (EUR/USD). I opened a mirror account in January with 9200$ and now is at 9600$ but with a DD of 400$. Will see what the future holds for that account.
Hi Max!
How do you toms Ea? Are you still giving good results in real accounts you started?
Thank you very much!
Can anybody tell me what is the difference between Tom’s Ea and other cheaper (or free) grid/martingale EAs?
I don’t have to much experience with this type of robots, I’ve tested the trial verson of Tom’s EA but I’ve found it a little bit scary to my appoach for trading and also out of my price range but now I started to reviewing this systems and I’ve found many grid robots with martingale and hedge functions but I’ve no idea why Tom’s EA worth 2K when others are much cheaper or even free (blessing, gridmeup). If it makes steady 10% profit/month does it worth 2K? I mean you need at least 5-10K to make up the price and than profit.
Many other bots can produce this result for much less price and less risk.
I’m not against Tom’s EA just would like to see the point of those guys are using it.
Thanks.
L.
Hi Cam,
You don’t test this ea anymore ?
Correct. I was unable to get a full license after the temp one I had expired.
You are welcome to use the results of my Toms EA via invester password. it runs on the mirror platform.
I’ve been running Tom’s EA on Mirror Trader, with hedging, since December 1, 2011. My max open trade drawdown was about 30%. Gains have been small but fairly steady, averaging about 10-15% per month. It uses a form of Martingale: x-x-x-3x-6x-12x, but with very small lot sizes (0.01 to 0.02 per $10k). Contrary to so many comments here, there IS a stop loss, it’s just very large, at about 620 pips. However, only the early trades in a group have so far hit the stop, so the $-loss was still small. In 2-1/2 months, I’ve had perhaps four trades hit the limit. I think only one or two trade groups have finished negative, as a result of older trades hitting stops. The system does tend to enter trades against the hourly trend and profit on retracements. It does very well in choppy sideways markets. It gets into trouble when there is a strong trend or a large shift (e.g. due to a central bank intervention). I have another system which fairs poorly in sideways markets, but very well in trending markets, so they balance each other nicely.
Overall, I am very pleased with how steady Tom’s EA is, as long as I was patient enough to wait for the profits to get past the average DD and system cost (which it now has). When the time does come to let it go, I’ll make sure to either wait for a temporarily small DD, or stop new trades and let it wind down the open ones.
However, I’m very new and inexperienced to FOREX and EA’s. Perhaps I could be doing much better with another system. I’ll be looking for more advice on this page and elsewhere on this site and other places.
You made a good decision with toms eric, I’ve found it very stable, one just has to be prepared for sometimes large floating DD especially if you run EU,GU and GE, I run USCAD as my main risk so far the highes lot size I’ve seen it go up to was .09. 10-20% pm is a pretty good return on investment and brokers can’t do anything to prevent the good performance of this ea.
jaggermikestar could you please give me an update on straddle trader pro as i have no other sources of information than you . i recieve dustins emails every day and know that he has updated the software recently,has this made it good? any response would be very appreciated,marka.
marka I very rarely use it now, only trade aud employment and nfp, since gomarkets did their dirty little liquidity provider swap I’m really struggling to find a good broker that doesnt slip to bad, to anyone out there thinking of buying it – Dont it was worth the money when I got it last july and it made me a lot of money but now unless you find a good broker with little or no slip its worthless, the new ea that was updated has definately reduced losses, thats all I can say
thanks for the information and very best of luck with NFP tomorrow!
This EA blew my account up. I followed all the rules given on the EA site regarding minimum account balance, micro lots etc. Stay away from this….please don’t make the same mistake as I did.
I put this EA to trial on a live account and then got the license. I have been running for 4 weeks-may be too early but here is My feedback;
-Very stable
- you need to FOLLOW carefully the EA instruction and not over leverage (Having a constant 4-6% per month without losing any sleep is fine with me)
- Always in the market
- You will see drawdown but it will depend on how many pairs you are using and the risk level per pair. max I have seen so far 8%
- Brokers can not do much to stop the EA
Overall I am pleased so far. 4-6% per month will give around 80% per year return. Can not beat that.
I have been using IC Markets True ECN platform and have been seeing 35% returns each month. I recently moved my account over to IC Markets from Pepperstone because they were slipping me and slowing down my traders.
IC Markets are by far the best ECN broker that I have ever dealt with.
Are you getting 35% per month with Tom’s EA? That’s much better than the mirror account. How?
I tested this for 1 month and got a demo account blown up, also there are a LOT of people complaining about this EA on myfxbook
a LOT of open orders at the same time, i used the recommended settings for MM and RISK on a demo account, so it should pass the test, but it went almost from 10.000 to 2.000 in 2 weeks
I bought this EA Lifetime purchase , after 1 yera on mirror account down about 20 % . I ran a demo 1k account 4 pairs just to see what happened & it blew in 4 wks .
I am now going to make a demo on EUR/GBP small micro account with small risk for 1 Year to see what happens. If risk gets above 5% or 5 trades I will de-activate the EA & trade out manually . week 1 I made 6.5% but v. early days !! trading on MT4 not mirror now to contol it better . lets see what happens