June 22, 2008
Prophet1 Summary
The forex industry has exploded in recent years and it’s just getting more and more popular every month with an onset of a plethora of forex courses, books, software, resources and dedicated services. And with $3 Trillion in trades per day (yes, I said per day) it is just going to get more popular as more people look to the internet for making money. In the recent past, trading the forex markets was not that easy. But since the advent of computers, the internet and forex brokers that can get you started with sophisticated trading platforms, forex has come of age for the part-timers to trade on an income-producing basis. Prophet1 is a package that has been put together by forex professionals and although the site is incredibly unattractive, it’s kind of refreshing to not see all the normal hype surrounded with these types of products. The one thing the site does focus on however is proof of their trades which is obviously a really good thing. I’ve summarized Prophet1 here for your consideration and wish you the best of success with your future forex trading.
Prophet1 Forex Expert Adviser for the Metatrader 4 (MT4) Platform is a highly profitable automated trading system. Most expert advisers sold today do not deliver the profit the forex investor is seeking.
Most will only work in certain market conditions and for short periods of time. Not Prophet 1. Prophet1 is profitable in all market conditions and for extended periods. Our test will show our trades are over 90% profitable, growing our balance from $1,000 to over $42,000. Amazing results.
FAQ’s
Q: can Prophet1 be used with any currency pair?
A: No. It is designed to work with only the GBPUSD
Q: can you use any time frame?
A: No. It is designed only for the GBPUSD on the 4 Hour Chart
Q: Is Prophet1 fully automated?
A: Yes. You only need to set Prophet1 on the GBPUSD 4 hour chart and let it run.
Q: Is there money management build into the EA?
A: No. In the settings you choose the number of lots. In our testing we used one standard lot for all trades.
Q: Does it matter what forex broker you use.
A: No.
| Symbol | GBPUSD (Great Britain Pound vs US Dollar) | ||||
| Period | 4 Hours (H4) 2005.01.02 20:00 - 2007.09.25 20:00 (2005.01.01 - 2007.09.26) | ||||
| Model | Every tick (the most precise method based on all available least timeframes) | ||||
| Parameters | TakeProfit=77; Lots=1; TrailingStop=60; InitialStop=350; mailalert=false; | ||||
| Bars in test | 9394 | Ticks modelled | 5597374 | Modelling quality | 90.00% |
| Mismatched charts errors | 0 | ||||
| Initial deposit | 1000.00 | ||||
| Total net profit | 42297.60 | Gross profit | 53807.95 | Gross loss | -11510.35 |
| Profit factor | 4.67 | Expected payoff | 464.81 | ||
| Absolute drawdown | 450.00 | Maximal drawdown | 5366.60 (12.20%) | Relative drawdown | 70.47% (3112.20) |
| Total trades | 91 | Short positions (won %) | 43 (93.02%) | Long positions (won %) | 48 (87.50%) |
| Profit trades (% of total) | 82 (90.11%) | Loss trades (% of total) | 9 (9.89%) | ||
| Largest | profit trade | 786.00 | loss trade | -3480.00 | |
| Average | profit trade | 656.19 | loss trade | -1278.93 | |
| Maximum | consecutive wins (profit in money) | 28 (18020.40) | consecutive losses (loss in money) | 2 (-1677.95) | |
| Maximal | consecutive profit (count of wins) | 18020.40 (28) | consecutive loss (count of losses) | -3480.00 (1) | |
| Average | consecutive wins | 10 | consecutive losses | 1 | |
| # | Time | Type | Order | Size | Price | S / L | T / P | Profit | Balance |
| 1 | 2005.01.13 20:00 | sell | 1 | 1.00 | 1.8795 | 1.9145 | 1.8718 | ||
| 2 | 2005.01.14 02:46 | modify | 1 | 1.00 | 1.8795 | 1.8795 | 1.8718 | ||
| 3 | 2005.01.14 02:46 | modify | 1 | 1.00 | 1.8795 | 1.8792 | 1.8718 | ||
| 4 | 2005.01.14 02:46 | modify | 1 | 1.00 | 1.8795 | 1.8786 | 1.8718 | ||
| 5 | 2005.01.14 04:35 | modify | 1 | 1.00 | 1.8795 | 1.8783 | 1.8718 | ||
| 6 | 2005.01.14 04:36 | modify | 1 | 1.00 | 1.8795 | 1.8779 | 1.8718 | ||
| 7 | 2005.01.14 04:37 | t/p | 1 | 1.00 | 1.8718 | 1.8779 | 1.8718 | 764.45 | 1764.45 |
| 8 | 2005.01.18 12:02 | buy | 2 | 1.00 | 1.8720 | 1.8370 | 1.8797 | ||
| 9 | 2005.01.19 10:10 | modify | 2 | 1.00 | 1.8720 | 1.8720 | 1.8797 | ||
| 10 | 2005.01.19 10:11 | modify | 2 | 1.00 | 1.8720 | 1.8722 | 1.8797 | ||
| 11 | 2005.01.19 10:11 | modify | 2 | 1.00 | 1.8720 | 1.8723 | 1.8797 | ||
| 12 | 2005.01.19 10:11 | modify | 2 | 1.00 | 1.8720 | 1.8725 | 1.8797 | ||
| 13 | 2005.01.19 10:12 | modify | 2 | 1.00 | 1.8720 | 1.8727 | 1.8797 | ||
| 14 | 2005.01.19 10:12 | modify | 2 | 1.00 | 1.8720 | 1.8729 | 1.8797 | ||
| 15 | 2005.01.19 10:12 | modify | 2 | 1.00 | 1.8720 | 1.8731 | 1.8797 | ||
| 16 | 2005.01.19 10:12 | modify | 2 | 1.00 | 1.8720 | 1.8734 | 1.8797 | ||
| 17 | 2005.01.19 10:14 | modify | 2 | 1.00 | 1.8720 | 1.8735 | 1.8797 | ||
| 18 | 2005.01.19 10:14 | t/p | 2 | 1.00 | 1.8797 | 1.8735 | 1.8797 | 772.00 | 2536.45 |
| 19 | 2005.01.21 15:05 | buy | 3 | 1.00 | 1.8712 | 1.8362 | 1.8789 | ||
| 20 | 2005.01.21 17:16 | modify | 3 | 1.00 | 1.8712 | 1.8714 | 1.8789 | ||
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