Paradise Expert Advisor Frequently Asked Questions

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How does the EA work?

This Expert Advisor (EA) works on price action and time only, no indicators are used (unless using the trading with trend direction option). This EA has no DLL function calls, extensive logging or extensive CPU usage and typically uses no Stop Losses or Trailing Stop Losses. A Stop Loss option is provided to be used when trading with the trend.  There are also other controls within the EA to limit trading and risk exposure. This EA can be run on ANY chart time frame, with Candlesticks, Bars or Line charting.  Typically, the EA is only run on one currency pair at a time, though other trading or EAs may be run with it and Paradise will work independently.

The Paradise EA has many options that the user can turn on or off. The EA uses GRID trading, and a countertrend trading method along with the option of HEDGING plus special ways of reducing the risk exposure and limiting losses. Depending on how the EA is used, it can be run virtually non-stop or only specific times. The client can set up the  inputs in a myriad of ways to trade the market accordingly. The accompanying guide walks the user through determining how to best run the EA and the EA defaults are set to run OOTB (out of the box).

The Paradise EA has been tested, traded and optimized since June 2007. Due to increased market volatility in 2008 a method was sought to better master the big moves and swings in the market. The latest version, ParadiseAwaits, now has options to trade with the trend, which is proving to be more profitable in the long run and able to withstand breakout moves with less frequency of being stopped out. New features have also been added so the user can scale back the risk exposure which means a lower account balance is required. Details in the Success Guide assist clients on how to determine successful settings. as well as numerous SET files and an xls spreadsheet with different settings and results. Within the EA are levels where the client can select how the lots are multiplied as the EA places larger trades. The lot sizes are typically not doubled. The client can also increase the grid spacing as the lot sizes increase along with other special features to keep risk exposure down and allow the EA to handle bigger market moves.

How are pip values and total pips calculated?

The only way to calculate pips is relating it to the base lot size as the EA doubles the lot size as it moves. So we calculate the value of the pip on the initial lot size. On a mini account on the Eur/Usd the pip value is 1.0, on the Usd/Jpy it is 0.9. So we take the total profit made for the run and divide that by the pip value to attain the total pips captured.

What are the minimum account balances required to run Paradise?

It is recommended to have approximately $1,000 minimum to run on a MICRO account, lot size .01 ideally with NO OTHER EAs TRADING or manual trading; $10,000 is the recommended minimum on a MINI account, initial lot size is .1; and $100,000 on a STANDARD account, initial lot size is 1.0. This is figured on an account with 200:1 leverage. Tracking the MaxDrawDown and MaxAccountMargin used when demo testing will give the user an idea of the space this EA needs to live trade a real money account successfully at a level of risk they are comfortable with at the settings they have chosen. This is explained in detail in the accompanying Success Guide.

As a rule of thumb: a larger account balance equals less risk, more flexibility in settings and trade times, Power User Option capabilities and the ability to also trade manually or with other EAs running on the same platform.

What if my account balance is between the minimum levels, say $25,000, can I start trading Standard lot sizes or double the initial lot size?

You would have a lot more flexibility than someone with only $10,000. So you could even run the EA on the same pair twice, at the same time. This is a Power User option discussed in the Success Guide. In the Success Guide the client is shown how to use Option Tables and the MetaTrader Strategy Tester to determine settings, limits and required account balance.

What is Power User Trading?

In the Success Guide, the tutorial, it explains that a Power User is one who has a much larger account balance, which can sustain more drawdown and  margin used and can trade beyond just using the EA with default settings. The Power User has 7 Options on how to 'push the envelope'.

Do you provide a demo version so I can test it out for a while?

We offer a lease option for a small investment instead of a demo version. The EA will continue to run on a demo account beyond the lease term. Update 4/16/10 we have discontinued the lease, sorry. Our EAs are profitable and very reasonably priced. Most have links to view the live trading. Check back, more will be added in the future.

Could you send me a live statement, not a demo statement?

Demo results are live. This is not Strategy test results. If certain settings are increased, the EA can be run through the Strategy tester  but since the EA is typically not run continuously, the results cannot be considered as accurate. Past performance, testing and analysis has proved that live real trading and demo trading results with the same broker yield results that appear to be identical. This EA is often traded on the creator's live funded account.  Sometimes live statements are shared but often other trading is going on so statements cannot be shared. If I manipulated the data to extract trading for specific EA, it would lose credibility.  

as a sample...On the week ending 3/14/08, I captured 1,280 pips on my live account which was 2 runs of the EA.

How do I know that you're not just another scammer?

Most of my sales are coming from those who have known me a while and realize my sincerity, and know me as one of integrity. I realize there are a lot of scams out in the market and people trying to wipe up by making bogus claims. You won't find that from me. I couldn't sleep at night! If I was into scamming, I sure wouldn’t use my full name and photo for all to see. But I realize most people have no clue as to who I am so I am faced with the challenge of overcoming that. The results do look unbelievable. I am still a bit blown away with the results myself. 

How do I know the system will work over time?

It is easy to sit at a distance and pre-judge or be wary of my results. I can understand that. They are incredible! But through my months of testing I have found what settings and times have been working and am confident that the EA will continue to be successful, if used as the Success Guide directs. In the private client area I share my "Trade Calls" and possible market warning signs that alert us that strategy/setting changes are needed. 

How will I know when to run the EA?  

In the accompanying Success Guide, it spells out in great detail when and how to run this EA to empower my clients with success. Demo testing is essential to get to know any EA and I also provide a Results Tracker sheet so clients can evaluate the settings, times, etc. I have demo and live traded this EA for months, many more than I post in my results but I have fine-tuned it and don’t feel it would be accurate to post results from previous versions. If someone is losing on this EA, I truly believe it is due to not following my guidelines in the Success Guide and over trading due to pure greed. With the extra power in Paradise, the EA can be set up to run for extended periods of time, though I do recommend in the Guide to avoid certain times. The latest version also has a method for shutting down the trading prior to a 'No Trade Day', such as Friday and can be set early that same week. In the private client area I share my "Trade Calls" and possible market warning signs that alert us that strategy/setting changes are needed.

Is this a fully automated EA, can I set it on a server and forget it? 

This EA can be run in different ways. Some clients do have it running all the time and are doing well with it that way. It originally was designed to only run at specific times, conditions when the market was less likely for a breakout but now we run it most of the week non-stop. 
The ParadiseAwaits version is able to run more or nearly continuously and experience less drawdown. A lot of how successful the EA is depends on your leverage settings which determines how much margin you can use before experiencing a margin call. If the leverage is too tight or the account balance too small there is greater chance for losses. Each client has the ability to set the trading limits in the EA. 

Many factors come into play when running any auto-trading program.

It is prudent for the user to at least occasionally monitor any EA while running it to verify all

is working properly and no manual intervention is needed.

Questions about price or those seeking a discount

In the right hands, I truly believe this EA is worth thousands and that the price I am selling it for is a steal. Just look at the results! Clearly people are spending thousands of dollars on systems that still need a lot of manual trading and aren’t that good. The Paradise EA user has unlimited use, free future upgrades for current lease holders or those who do a one-time full purchase, no account restrictions, extensive customer support, it can be run on demo and/or live trading accounts, or can be used on managed accounts for others, provided they are under the original purchaser’s control. 

On a mini account a user should be able to recover the expense of the EA rather quickly, typically in a week. 

Initially, I had no intension of selling the EA. But I am currently trading it on a micro account so building my account

balance using 0.01 lots is a slow process. I decided to release it to empower others with a winning system.

Do you offer a money-back guarantee?

Due to the electronic nature of this product with no way to physically ‘return the product’, there is no money back guarantee.