There’s a tradition in “robotrading”– the louder and brighter the name of the robot, the greater the likelihood that it will siphon. The reason for this is always on the surface – the creator is testing the robot at a good time and emotionally concludes that he found a gold mine. Forex Hacked EA was no exception, as its name implies that it was designed to "crack" the market, or at least provide a high yield. So let’s check whether you can trust it your capital.

The strategy, on signals of which the algorithm enters the deals, is elementary in nature and is built on standard indicators Parabolic SAR and Moving Average (to be exact, it uses linearly-weighted version of building). There are not many custom settings, but we should comment on the most important ones:

• Lots – initial lot in the series, and the lifespan deposit will mainly depend on it, because the Forex Hacked EA uses Martingale;
• Booster – actual multiplier item in the new series of orders, although the developers wrote in a manual that it is the amount of risk – probably they have their own understanding of risk management;
• PipStarter – period between orders;
• AllowiStopLoss – stop-loss used or not: if true, it works with orders without restrictions; in the opposite case (if false), you must set the maximum possible number of orders to buy and to sell through the parameters MaxBuyOrders and MaxSellOrders; 
• AllowiStopLoss and iStopLoss – stop-loss values, the latter is true when using AllowiStopLoss

Please pay special attention to scalping module that starts working if the allowTrending setting is enabled. Numerous experiments have shown that it is better not to use, because the test results drastically deteriorate in this case.

Forex Hacked EA in a strategy tester and monitoring results

Before we begin testing, let’s turn our attention to monitoring available for viewing. Unfortunately, we could not find “live” options, so it remains to analyze only accounts that saw trade being suspended in 2012 – one of them is shown below:

The Forex Hacked EA was in drawdown back in May 2012, comparable to the total profit earned during the preceding six months – this is the first thing you should consider. In addition, among the main performance indicators the following should be highlighted:

• profit factor 1.62 is a strong value, but the Martingale distorts statistics;
• 65% profitable trades is a nice addition to the above and shows the periodic losses fixing.

It makes no sense to comment other values, since they are in fact a consequence of the Martingale and can tell you nothing about the quality of the signals. To fill the gap formed in result of the lack of results for 2013, we have carried out our own testing on the following conditions:

• the efforts were aimed at balancing risk and achieving profitability higher or equal to bank interest;
• time interval – 2013, EUR/USD pair, five-minute chart; 
• InstaForex dealing center – chosen due to its unique lots;
• the values of the settings can be found in the following figure:

Below the result of testing under the above conditions is shown:

Advantages and disadvantages of the Forex Hacked EA

Continuing to review the work results, you can come to the following positive conclusions:

• conservative setup can provide survival on the long trends – in particular, the maximum drawdown of 20.65 % is acceptable, given the use of the Martingale;
• net profit for the test in 2013 was 19.7 % – therefore, you can allocate a portion of capital to the EA as money should work and generate bigger income than interest on bank deposits;
• 47.7% of profitable trades, with profit factor being 1.26, is a sign that one profitable trade covers several unprofitable ones. Of course, this is partly due to averaging, but in general an indicator is good and indicates the possibility to increase profits by balancing the profit/stop ratio.

The following shortcomings should be noted:

• the Martingale principle, without which the EA is slowly but surely siphoning;
• no possibility to change the indicator settings in the Preferences window;
• scalping module is completely unnecessary and can confuse the novice.