Trading Style

The proprietary formula this EA is based on is worthy of consideration. Multiple orders are not a part of this EA, it takes only one trade at a time and there are no money management settings, leaving the lot size to be adjusted periodically by the trader based on their risk tolerance.

Backtesting

prophet1 is to be run on the 4hr chart for the GBPUSD with the default settings as follows:

Take Profit: 77
Trailing Stop: 60
Initial Stop: 350

Here is the most recent back test.

Based on back testing (90% modeling quality), Prophet1 takes on average 2.75 trades per month with as many as 6 trades per month and the possibility of 0. If scalping is your method then this EA is not for you. The back testing is quite impresive with over 90% profitable trades. The settings include Take Profit, Stop Loss, Trailing Stop, MagicNumber and Alert. Prophet1 is straight forward in its setup. Through Metatrader4 the alert can be set to go to your email and if your cell phone provider has this feature it can go right to your cell phone.

Forward Tested Results

The author has just recently isolated Prophet1 from their personal trades and since prophet 1 does not make many trades they will not have forward testing results for publication until March 2008. Current traders have stated Prophet1 has triggered 5 profitable trades from Oct 1, 2007 to November 15, 2007, hitting its targeted TP of 77 pips. Customer support and all future updates are included.

We are currently gathering forward tested results for this EA independantly, and we will publish them here once they become available.

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