Envelope Profit System is a Forex EA by an unknown developer.
In this review I take a harsh position and tell it like it is.
They provide the Forex robot and the instruction manual.
This Forex math product costs $497 and is being sold on the RegNow payment processor.
Tagline: Forex trading made easy, develop and get the profits you want from a proven system.
Now, I have immediate questions about this EA. Why did they run MT4stats for so long and then abruptly stop using it to show results and from then on just show screen shots.
This alone makes me weary about the this system and its ability to profit, look below to see the examples.
They have provided an MT4 stats page that looks quite impressive EXCEPT the fact that it hasn’t traded in 7 months. So close, yet so far away. Here is a link to it anyways.
The problem with this type of Forex results is that it really cannot show a true image of the strategy itself and thus does not depict how the Forex product will actually perform. This is our opinion on Envelope Profit System on behalf of Forex Robot Nation and an adroit ascertainment of the market for Forex products itself.
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A robot (EA) will take all signals (filtered by some lagging indicator(s) or not) and I ask you to imagine yourself doing just that… The only way to become profitable in Forex is to become disciplined enough to avoid getting tricked/trapped by ‘big money’. The good thing about automated trading is that you won’t move your stop loss and therefor will not suffer extraordinary big losses in one trade. The bad thing is, as mentioned before, you’ll become such an easy victim to the big players out there (they’ll trick you into one direction, then take out your stop and move in the intended direction, for one example). Study the market, stick to one system and obey the rules you’ve set out for yourself (trading plan). Go for low risk, high profit trades (Risk/Reward 1:2 for instance) and try things out in demo first. Just my two cents…
Every one is right,the results show pairs that you are not suppose to be trading and trades that my ea has never taken??????
Must AGREE TOTAL SCAM AND THE SUPOSSED SUPPORT WHAT SUPPORT??
When we we are vulnerable that is when the vulchers strike the most.
I hang my head in shame!!!!
Hey guys, we need to spread the word man. Spare others from getting into shit like us..
I am new to Forex and i bought this. The initial experience was good. I bought the EA after receiving a marketing email from Jason Sweezey of 1Hour Forex. Had good experience from him and hence trusted his recommendation. I bought via the wrong link (hence paying the standard price) and wrote to Casper (the owner).He replied very promptly and asked me to purchase the system again via the correct promotional link and he wrote an email to the reseller to refund me but to this day, I have yet to receive the refund meaning, I paid twice for the product for one EA.
He sold me an exclusive EA robot that is supposed to trade based on this system for USD 5K.. i bought it in 2 instalments and hell was i so wrong to have trusted him. The EA is crap.. it doesn’t work properly, even basics things like proper lot sizing is all wrong. I already set the setting to 0.01 but it cont to trade on 0.1.. I am so F@#$ up by this bad sheep among the FX trading community.
Absolute SCAM – I also feel like an idiot for falling for this. The results have been altered I have made a video to prove this. Casper Mikkelsen is the developer, he doesn’t give support and gives lame excuses of why the results don’t match the system. DO NOT FALL FOR THIS SCAM !!!!! YOU HAVE BEEN WARNED !!!!!
THE SAME FOR ME. IT IS THE BIGGEST SCAM I EVER BAUGHT ON THE INTERNET. DON’T BUY THIS EVEN THE EA. IT IS OUTRAGEOUS A SCANDAL!
A total scam. I was stupid enough (caught me at a desperate moment) to pay full price, knowing there was no refund. Not worth $495, and not worth $97. John Doe is correct, just put 89ema on chart and follow his instructions.
Do not buy this EA!
I bought this thing but at a special $97 price. It is nothing more than the old “if price closes above this 89ema you buy…if it closes below the 89ema you sell”. Nothing new or outstanding here. One caution….there is absolutely no trial period and no refund. At $97
it is not so critical but I wouldn’t invest $497 in something that is already available for free. I don’t even use it.