Primeval-EA

[rsmereka]

This review is about the Primeval-EA.

I have no affiliation with anyone in conjunction with this review.

I started trading this EA on a demo account on March 10, 2010. Primeval-EA trades 8 pairs on an M15 chart. The demo account is with Alpari UK at 500:1 leverage .

The EA purchase goes through Plimus which has a 45 day refund policy. This EA is expensive at $500. If you look around, you can find affiliates that offer a Paypal credit back to your account after the 45 day refund period. I purchased the EA through the ForexOZ affiliate. Mark at ForexOZ promises $50 back if you buy through his affiliate link.

The EA comes with a dll and requires authentication similiar to MegaDroid. You are limited to 10 demo accounts and 1 live account (although the license terms allow a special bonus live account). Each account you plan to use must be setup in the online member zone. Any refund request is denied if you activate a live account.

The software package is delivered as Windows installer exe. You don't have to copy any files. All the files are placed into the Metatrader folder for you. As an interesting bonus, the EA comes with a template and indicators so that you can see what is going on and trade the strategy manually if you desire.

I rate the email support as excellent. After my purchase, I encountered two problems. The first was that I was not redirected properly after the purchase to create a member account on the Primeval-EA website. I emailed support who within minutes created a member account for me. The second issue was that when I attempted to download the Windows installer, I was getting a Php/Javascript server error. Once again, I emailed support. This time it took the support staff some hours to get back to me but before the day was over, I was able to download the software.

This EA trades EURUSD, GBPUSD, EURGBP, USDCHF, EURCHF, GBPCHF, USDCAD, USDJPY using three specific strategies:

Scalping
Grid
Hedging

The setup is complex and time consuming because the EA has many settings, the license requires authentication and there are many charts to setup (10 of them in total). Here is the way I set my Primeval-EA:

All settings I left at the default except:

MinLots: 0.10
MaxLots: 50
RiskLevel: see below
SoundAlert: false

An obvious missing parameter is one that controls the magic. With this many charts, a way to segregate the trades besides the currency pair is important. I have no idea at this point how I am going to manage all the closed trades and do a proper analysis.

Scalping Strategy (currency pair followed by RiskLevel):
GBPUSD 10
EURUSD 15
EURCHF 30
EURGBP 20
USDCHF 15
USDCAD 15
USDJPY 15
GBPCHF 15

Grid Strategy:
EURCHF 20

Hedging & Pyramiding Strategy:
GBPUSD 10

Rick

[rsmereka]

After the first day of trading this EA on my demo account, I just tried to do an analysis on the magic numbers that the EA uses.

It's a mess. The EA uses the same magic on different pairs. It sometimes changes the magic to a completely different number that has no relationship to the former number (not in a range ).

There is a 'Comment' parameter that can be used but at least one pair/strategy (GBPUSD Hedge ) does not include the comment.

So, I will have to modify MT4Analysis to add a change magic page so that I can manually change the magic number on the closed trades after the fact (that is going to be a ton of extra work with all the trades that this EA generates )

I certainly hope that the developers of Primeval-EA wake up and realize that control of the magic number (even inside a range like Goldmine does) is essential to a good EA.

P.S. I just emailed the support folks about my suggestion as there is no place on their forum to add my suggestion.

Rick

[jeffstar]

Thank you for reviewing this EA. I am considering buying this EA and was looking for reviews. I like your review the best so far. It appears to be honest and unbiased. I hope you continue to update the information daily.

[rsmereka]

Originally Posted by jeffstar

Thank you for reviewing this EA. I am considering buying this EA and was looking for reviews. I like your review the best so far. It appears to be honest and unbiased. I hope you continue to update the information daily.

Thanks for your kind words. My reviews are based on my experiences with the EA, nothing more. I have nothing to gain (except massive amounts of profit ).

Update daily I will do my best but I think daily is a bit much.

Please note that all of the PL stats appear in my trading journal. I know it's a hassle to look in two places but I don't want to double post.

Rick

[rsmereka]

I will attempt to summarize the performance of the Primeval-EA in this post. All data will be expressed in pips (because it is independent of lot size). This post will be updated on a regular basis:

Current as of 01:07GMT Sat April 10, 2010

Start date: Wed March 10, 2010
Total Pips: 2739.8
Scalping Pips: 4.2
Hedging Pips: 2866.8

Scalping Pips Detail by Pair:

Pair      Pips  Rank  Current Risk      Won Lost
====      ====  ====  ======= ====      === ====

EURUSD    81.0   2         35            19    0
GBPUSD  -247.2   8       0.10 fixed lot  21    5
EURGBP    45.3   4         25            22    2
USDCHF   -38.6   7          5            18    4
EURCHF   -33.0   6          5            13    4
GBPCHF   110.1   1         40            20    1
USDCAD    55.7   3         30            13    0
USDJPY    30.9   5         20             6    0

Comments:
Three scalping pairs are in the red. All scalping pairs are just under $700 in the black. The GBPUSD hedge is doing well. Overall, the Primeval-EA system is just under 3.4K in the black.

Rick

[rsmereka]

Post #5 of this thread contains the latest Primeval-EA summary based on my demo account. I focus on pip performance instead of money because I want to find the best performing pairs and set the EA risk based on that.

Here's is how I am going to do it. Each Sunday, I will take the performance summary and go down the list of pairs. The best performing pair will get the highest risk and so on down the list. Here is a list of the risk values based on the pair's rank:

Rank Risk
==== ====

  1    40
  2    35
  3    30
  4    25
  5    20
  6    15
  7    10
  8     5

The best performing pair's (based on pips) will get the highest risk value and therefore the biggest lot size.

Rick

[rsmereka]

I just updated the EA performance in post #5. GBPCHF is really performing well at number one with USDCHF and USDCAD trailing far back at number two and three.

Last night there was a large loss with EURGBP (16 pips).

Rick

[rsmereka]

I just did the daily performance update in post #5.

The scalping strategy is performing well since I adjusted the risk values based on pip production. In terms of profit, it is currently out-performing the GBPUSD hedge strategy.

There currently is a left over open GBPUSD scalping trade from last night. It's over $1,500 in the red It will be interesting to see how long Primeval-EA hangs onto it and what the PL is when it closes.

Rick

[trendcat]

rsmerka with all respect,i dont know why you waste your time.
any ea that claims 3,308 million profit since 1999 is probably a scam right off the bat.
all you have to do is take a glance at the website and you can tell its a basement room scam
you shoundnt be giving them a penny unless they can prove on their own accounts 3 months good results.
anyone that gives them any money at all is feeding them and giving them
more incentive to keep spamming and hoping to get the small % of suckers that will give them money.
just dont buy the crap and let these people work in mcdonalds were they belong.

im getting 4 or 5 a week with different names
i think they are one day just going to run out of names to call these EA'S

FOREX brillance,pip ripper,pip savage,forex megatron,forex megadriod.,forex enlightenment.,pipatron

there is absolutely no regulation and its sad.

[rsmereka]

I just did the daily performance update in post #5.

The scalping pairs have (so far) accumulated over 10% roi in 11 trading days.

The EURCHF scalping pair is digging itself into a hole. Almost 37 pips in the red.

The GBPUSD open scalping trade that I mentioned yesterday is still open.

Rick