Leo Trader Pro | Forex EA Review and Coupon
Leo Trader Pro | Forex EA Review and Coupon
We are back again with our latest review. Today we are very excited to discuss a system that is set to make big money, Leo Trader Pro.
With Live Trading Results we are looking at the New Standard for Forex Products.
We have been promised this in the past, but we truly have reason to believe in this most recent system, because we have seen it ourselves. So now lets get into the details that you need to know in order to make an informed purchase.
Leo Trader Pro Review
This group of developers is listening to the critique which has been spoken often but seldom heard. With a few good system providers on the market, few of them actually provide tangible results. Here we will be achieving this for one of the first times ever in MT4 or MT5.
- Leo Trader Pro will be providing investor password access to a live account they have been trading for months.
UPDATE 12/16/2010: Login To Verify The Real-Money, Live Account :
Login: 1331
Password: LTP082010
Server: FinFX-Live
UPDATE 12/16/2010: Set to release to the public on the 16th of December, just in time for Christmas.
Leo Trader Pro Information
We like the approach these developers are taking with this system thus far. They will be using click bank as their payment processor, which is very responsible for refunding, except it won’t be the usual junk we’ve grown accustom to seeing.
- There are trades every day with this system, generally two per day with over 100% profit per month.
- This is on a real money, live account, which as mentioned earlier will be provided to all potential Leo forex traders for their perusal.
- We won’t be seeing any scams or tricks from this group of developers.
Leo Trader Pro Conclusion
No matter what has happened in the past, we have a feeling we will all be Leo Traders before Christmas. With a great team, and finally live access to real MT4 trading accounts we will be able to see if this system meets our needs before it even comes out. Leo Trader Pro is going to do some great things for the forex industry and we are excited to get our hands on it.
We have tested their beliefs and knowledge, and they are a very smart group. We are working on getting you a coupon for this system (more results to be added as well). If you have anything to add, or you would like more information, leave a comment below.
Thanks Kevin
does anyone experience no running trade at all after the new update?
Hi Sutan
Happy Holidays to all.
It’s good to know that I’m not the only one Having problems with LTP.
I was wondering how you copy and pasted the folder in the same spot for MT4. I tried that and it won’t let me. It keeps saying can not copy MT4.
so how do you do it to get different platforms from the same broker.
Any help would be very greatful.
Ron
hello all
i’ve had the same problems most of you have described – support answered my concerns and all is working fine as of thursday and i hope it continues – however, whats with the huge s/l – any comments or suggestions on that?
gio
Any news on getting a coupon. This is a little pricey for an EA.
Doing every thing we can, we will send you an email with any updates.
I appreciate the LTP customer support that they provide their Regarding post on other Reviews site and I guess the LTP support team has answered most of the questions. Read there Regarding post Down :-
Hi, everyone – the LTP team hope you all had an enjoyable Christmas and are preparing for a memorable New Year, too!
Having read this entire thread, we thought it would be worthwhile clearing up a few issues as there seems to be some confusion…
1) if you bought the main LTP EURUSD-GBPUSD version then attach it to **ONE** chart ONLY – it doesn’t matter which but we suggest EURUSD so that you have an indication of the pair(s) it should be trading. To activate it, you must enter the ClickBank order number for the EURUSD/GBPUSD version into the ReceiptCode field.
2) if you bought the optional USDJPY-USDCHF version then attach it to **ONE** chart ONLY – it doesn’t matter which but we suggest USDJPY so that you have an indication of the pair(s) it should be trading. To activate it, you must enter the ClickBank order number for the USDJPY/USDCHF version into the ReceiptCode field.
3) The RiskLevel setting has been changed so that a value of ZERO will trade the minimum fixed lot size permitted by your broker
4)The updated system (1.00a) released at 17:30 GMT on the 22nd has resolved the issues of MT4 crashing as far as we can tell – if you are still experiencing crashes then ensure that you have installed the very latest files and be certain that you are not running more than *ONE* instance of LTP per ClickBank order number within any single copy of MT4.
5) Our servers are configured to limit the number of connections for a given ClickBank order number. As from January 1st, that will be set to 2 connections from a maximum of 2 IP addresses so you can either run 2 copies from a single PC or 1 copy from each of 2 different PCs.
6) Server capacity – the server upgrades implemented between the 16th and 20th were tested to in excess of 80,000 connections – significantly higher than we will require during normal operation.
7) Missed trades – although communication between our server and your LTP replicator EA should occur within seconds, there are circumstances that may cause a signal to be ignored. Obvious ones would be the normal MT4 disconnections from your broker’s server which could make the signal “too old” to be processed (remember that the default lifespan is 120 seconds!), too much variance between our entry price and the price available from your broker, and simply slippage.
Future releases of LTP will indicate the reason why a particular trade was not placed.
8 ) Brokers – LTP will work with *ANY* broker. We suggest that users may wish to consider FinFX because they have excellent spreads HOWEVER, the main reasons are:
a. the account opening process is extremely fast
b. US clients are not restricted in any way
Are there other brokers who can offer “normal” leverage, hedging and no FIFO to US clients… YES! We simply have not bothered to locate or use them as we found FinFX catered to our requirements perfectly.
As far as we understand, the criteria for offering “normal” trading facilities to US clients is simply that the brokerage in question must have no US presence i.e. no staff, no offices, no banking and no deposit handling on US soil.
9) Support – we have a fully staffed support team managing tickets and emails during market hours. We do NOT provide support at weekends because it is not possible to carry out tests or confirm any aspect of the system operation without data ticks from the brokers involved.
Contact details for the support team are clearly shown on the product download page.
Please note that the download page is NOT password protected for two reasons:
a. it makes access simpler for clients
b. the server security makes illegal copies of the replicator EA completely useless
10) Chart timeframes – the timeframe of the chart you attach LTP to is totally irrelevant. Signals are generated by our server and are timeframe-independent.
11) Replicator settings – all replicator settings are totally discretionary on your part – with the exception of RiskLevel, all other settings will filter out trades taken on our main account. To obtain the closest match to the trades shown on our live accounts (allowing for trades missed due to the reasons stated above), leave all settings at their default values.
12) RiskLevel – the percentage risk level calculation is based on available equity, the catastrophe SL distance and the minimum lot sizes permitted by your broker. Within a reasonable margin, should the catastrophe SL be hit then the loss for that trade should equate to the specified percentage risk per trade.
Hopefully the above comments will clarify things and allow users experiencing issues to identify the reasons / causes more easily.
regards,
The Leo Trader Pro Team
Comment by Leo Trader Pro Support on December 28, 2010 @ 8:17 am
Hey Ron,
Sorry for just getting back to you. I have been away for the holidays and just getting back. Anyway, having more than one drive on your computer will help. But if you don’t just rename the file before you copy it or change the name of the file you copied and it should work. Hope that helps. Let me know. Thanks.
HO HO HO
I have now been using LTP since 16th December and have made 6 profitable trades with no draw downs. I must say, I am very impressed so far, considering the period before Xmas has been rather static and ranging. I had a few teething troubles downloading the EA but the support is excellent and it is working well now though as advised by the support team, I have turned it off until 4th January. Nice to report that a product is doing exactly what it says on the tin! Am looking forward to more profitable trades from 4th onwards. Happy trading to all LTP owners, Bob
Hi Bob Bridges
Could you please share your settings on the following because they are not clear to me as described in the manual.
1. RiskLevel
2. MinLotSize
3. MaxLotSize
I assume you started a demo account could you also share the amount started with because this should be in correlation with the settings above.
Thanks
This is from Leo Trader Pro Support :-
“Hi, All
It seems like this thread has been busy since our last post but I’ll try to cover all of the questions that have been raised since then…
First, please read right to the end of this post – it covers a lot of important information.
Next, the way LTP trades is not going to suit all traders (and we appreciate that) but the details of every single trade was made very, very public prior to the system being released so I think it’s a bit sad that certain individuals have tried to make themselves look important (and/or attempted to make others feel stupid) by “bashing” LTP and how it functions – it’s always interesting to note that the people who write those posts and complain about proven and successful systems never seem to make their own trading records public!
Now, on to the questions…
No Trades / missed trades
=========================
All trade signals are broadcast to all users but remember that LTP will automatically filter out “old” signals and the default lifespan of any signal is just 120 seconds. You can obviously increase that value but the first thing to do is to ensure that you have synchronized your PC clock with the internet time server so that the UTC time we mark signals with is as close as possible to UTC time that we calculate on your computer.
A related issue is that of “old ticks” – some brokers have a very poor price feed and/or access to very restricted liquidity which means that trades on certain pairs can be far less frequent than for brokers with good liquidity pools from multiple providers. When an “old tick” is reported, it means that MT4 cannot confirm the available price for a currency pair and that can prevent a trade from being opened if the price confirmation is received beyond the lifespan of the signal we have broadcast to you.
Please also be aware that if you have a US trading account (and therefore have AllowHedging set to False) then LTP will not open more than one position on a given currency pair as FIFO must be respected in addition to the lack of hedging facilities. This can give the impression of missed trades when teh signals were actually received but rejected due to your own or your broker’s requirements.
Lot Size / RiskLevel
====================
The calculation determines the risked percentage of available equity and divides that by the catastrophe SL distance (330 pips) to get the $ risk per pip. That value is then divided by the Tick value to obtain a lot size which is then rounded up or down based on the value of the broker’s minimum lot size and lot increment size plus the minimum and maximum lot sizes specified by you. Small accounts with larger minimum lot sizes will generally result in higher-than-desired risk but the proposed lot size will be displayed on the chart before a trade opens so you have the option to allow the trade or not.
My XXXX platform got the trade but my YYYY platform didn’t…
=============================================================
Remember that our system does *NOT* allow unlimited logins / connections – a single ReceiptCode will only permit TWO instances of LTP (which can be on the same or different computers) to receive signals. You do not need to specify the brokerages / account numbers / computers involved – the process is totally automatic and handled by our server.
Trailing Stop
=============
There is NO trailing stop (in the usual sense) employed by your LTP replicator – what you are seeing is the adustments to the SL on our master account being replicated.
“The system just opened a Buy when the market is clearly falling…”
====================================================================
LTP is trading *its* plan… not yours! What IT sees in the market is the result of the most recent neural net re-training and is not going to be based on what you can see on a chart. If the system makes the wrong call then that is going to be an unfortunate but, eventually, inevitable aspect of trading. The point to bear in mind is that you almost certainly bought your license to achieve the same kind of win rate that our live account proves we achieve – if your own trade calls were half as accurate then you probably wouldn’t need or want LTP.
USDJPY – USDCHF license
=======================
If you have the license for the additional pairs (USDJPY and USDCHF) then please install a 2nd copy of MT4 and run it from there. There are various technical reasons for this but the most obvious one is that MT4 is only able to cope with one EA sending trade instructions to your broker at a time. This is not usually an issue as most EAs are tick-activated and trade on different timeframes but LTP is checking ultra-frquently and the possibility of a clash is therefore heightened, resulting in a “Trade context busy” error. By running the 2nd license from a 2nd copy of MT4, this issue is immediately resolved as each copy of MT4 can leave its trade context process available for the single copy of LTP running on it.
A future release of LTP will allow multiple ReceiptCodes to be entered into a single instance of LTP which will then trade whichever pairs you hold a license for.
Brokerage
=========
We have no special arrangement with FinFX beyond the fact that we trade there. You are free to use any broker of your choice. Please, however, be aware that there is a vast difference between the spreads offered by different brokers and their ability to provide fills at the prices shown (resulting in significant numbers of requotes). This situation is impossible to assess on a demo account which, by its nature, is an instant execution environment since there is no counter-party to your trade. Please also be aware that some large brokers show their tightest spreads (from commission-based feeds) on all demo accounts to give a better impression but these spreads cannot be attained with their micro or more classic accounts. By contrast, you should find that FinFX demo accounts match the equivalent live accounts in terms of spread and, from our experience, requotes have been non-existant.
Note for Norm: If you feel like taking daily snapshots of the account to look for Tippex-covered “corrections” then go for it – I assume that you’ll be shouting from the roof-tops just how accurate and unadulterated our account records are once your investigation period is concluded
FXCM VPS users
==============
It seems that FXCM’s VPS service is actively blocking the ports that LTP uses to communicate with our server. We are in contact with FXCM regarding this issue. If you are an FXCM VPS user then please contact their support department and explain that your VPS requires TCP access to ports 1000 thru 2000.
EquityLimit setting
===================
This is a MONETARY value i.e. you have a $1,000 account and want to limit things to 25% so you would enter 750 – LTP would then ignore new signals while the available equity was below $750.
Trading manually
================
There is no issue with placing manual trades. LTP uses its own “Magic Numbers” which are all negative to avoid conflicts with other systems and/or manual trades.
I hope that the above clears up some of the issues for you and wish you well with your New Year celebrations.
regards,
The Leo Trader Pro Team”
Hi Frik,
I have £250 in my account £s not $s. Mini lot is set to 0 & max lot to 8. Risk is .05, 5%.
Made two small trades on GBP/USD today. Hope this helps
Forgot to say, my account is live
Did anyone get any trades on EUR/USD & GBP/USD yesterday, Monday 10th?. Nothing doing on my account.
Got two winning trades today, 12/01/11. Will try new version later today
I purchased LTP version 1.12 and i ran it for about 10 Days on a Demo Account, and everything worked perfectly, with no losing trades. But after i opened a real Money Account using the same Trading platform, and it does not work, the LTP Neural Netwok Signals load but don’t move, and then when i open Experts Log, the last Message that appears is.
2011.03.30 09:26:12 LeoTraderPro EURUSD,Daily: zero divide
has anybody had the same Problem?