Primeval EA really seems to scalp well
I haven’t really been paying to much attention to all the hoards of EAs released this spring, especially not scalpers, but this one really caught my attention by showing extremely good performance in scalping exotic pairs (like GBPCAD, CHFJPY and others). It is called Primeval EA and is actually a collection of strategies, but personally the scalper is what I’m interested in (there’s also a hedger, gridtrader and some kind of martingale strategy. They might be alright but the scalper is on fire).
There’s tons of backtests on the site, that obviously look good (why would anyone publish them otherwise?), but there’s also verified accounts at MyFXBook (2 demos and 1 live account at FXCBS).
Here’s the live account: http://www.myfxbook.com/members/primevalea/primeval-ea-v21-live-fxcbs/34374
Yeah it has made 45%, but the drawdown is a bit to much for my taste. I would lower the lotsize to 0.1 or even lower with this small account. But still, the pips taken is impressive and the maximum loss is survivable (38 pips, the SL is set at 36, but I guess there was some slippage).
The demos are doing even better, which is sad of course, but very common. Blame the brokers for not offering fair demo environments.
http://www.myfxbook.com/members/primevalea/primeval-ea-v21-fxcbs-demo/34377
http://www.myfxbook.com/members/primevalea/primeval-ea-v21-alpari-uk/34379
What are the downsides? Well, it is a scalper. They tend to work well, bring steady profits and then brake down now and then. It has happened with all other scalpers I’ve tried. But with proper risk management this can be handled of course. A good thing with this one is that it trades so many pairs profitable, which brings down risk somewhat if one or two stops working. But like most of us know, many pairs are quite correlated and a stoploss in one pair seldom comes alone.
The other downside is the price. It is $600. Yeah, four to six times the usual $99 - $149. But, really, if it keeps performing this well, it is worth it. There is a 45 day money back guarantee (and since it is a Plimus product it is very likely that you actually get your money back if not satisfied, that has been my experience with some priors at least).
So, I’m leaning towards a buy. I’ll keep you posted of course. If anyone else takes the plunge, let me know.
Update: Oh yeah, you can use it on 2 live accounts per license, which is a added perk of course (and suits me great, I would put them on my existing JadeFX and The Collective FX accounts.)
