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Tested Result: 176 pips
Range Trader

Updated: March-2008

Profitable: 5.5/10

Easy To Follow: 8/10

Honest Result: 9/10

Support: replies within 36 hours (tested via 2 E-mails)

Bonus Value: 0/10

Results: 3.5/5

The Good: Good EA with honest results

The Bad: Low risk but low profits, recommended for safe trading.


REVIEW: Many readers asked me to review this website; so finally I decided to write my short review about Range Trader by Peter Parsons. I found Peter a nice and helpful guy. His system was especially recommended for the EUR/USD trading on small lots with a good number?(94%) of winner trades. Some time ago he released RangeTrader-Phase-Two. You won't get 600% here but if you are looking for safe trading with low profits (from 3-15% per month) and low risk - this system could become good solution for you. (Anyway I prefer more risky systems with higher profits.)

Update September 2008 I got in touch with Peter Parsons, the creator of RangeTrader. He said he is testing the new Roboteer: "I will make roboteer available, just not yet. I want to give it another week or two, to see what wrinkles need ironing out before I put it forward for review."

Update December 2008 Finally Peter Parsons finished new version of his Roboteer. I could not make a long term backtest and asked Peter why? here is his reply

Firstly Roboteer uses different optimized settings based on the last 3 Months of history. Therefore back-testing Roboteer using history from several Years ago is pointless, because you will be using the latest optimized settings, which are geared to making money forward trading NOW, not back-testing way back when..... That said, you can back-test the last 3 months of history on the EUR/USD to see how the system has faired. I do not intend to back-test historical data from several years ago, simply because of the requirement to optimize and re-optimise the settings every week or so.