There is very little information on this trading robot. Meanwhile, according to the author, this bot was one of the best in the past year in terms of profitability. Let’s try to understand whether another potential Grail is worth attention.
History of the creation of the expert advisor is standard: the author (Nicholas Ritter, who lives in Germany) reports that about 4 years ago, he has captured by the world of currency speculation and hasn’t abandon attempts to establish earnings in the automatic mode ever since. According to him, it took about 2 years to develop the algorithm.
Forex Trade expert advisor was the culmination of his efforts. Over 13 months of testing (from the beginning of 2014 to February 2015), the initial deposit has grown almost to $1.5 million (despite the fact that the start-up capital was only $300).
At first glance, it looks like everything is fine, there’s just a couple of embarrassing moments. Firstly, the author for some reason does not provide a link to the monitoring of the real account (it could solve all the problems), and secondly, the pressure, with which he persuades traders to buy a robot, looks suspicious. Most often, bright advertising is the first sign of danger.
How Forex Trade expert advisor works
With regard to the algorithm of this particular expert advisor, the author keeps silence, but the information emerged that this robot uses the same idea as the Forex-Trader-Pro bot. That is, the EA is indicator-based: no locking, Martingale and averaging is used.
The only thing the author advises to abide is allow the EA to trade by increasing the deposit rather than withdraw profit immediately. Thus, the result will look more solid. But in the creation of the Forex-Trader-Pro, part of developments implemented in the EA Vector Trader was used.
So, fans of automated trading can observe features of these 2 expert advisors in Forex trade bot. In particular, this applies to the algorithm of transactions support – some of them close after a certain number of ticks for a specified period of time. Thanks to this, the lifetime of some transactions does not exceed a couple of minutes.
Of the remaining features of the algorithm, the small SL (in the range of 10-15 points) and active use of trailing stop can be noted. EA literally fights for every point of profit.
Testing the EA
Unfortunately, it can’t be found in public domain, so we have to focus on the results that the author has posted as an illustration of the effectiveness of the bot. The test results are provided only for 1 month (January 2015), the Forex Trade expert advisor was operating on the EUR/USD currency pair with m15 timeframe.
We can draw several conclusions according to the results of the test:
- we see quite an aggressive robot; lifetime of the deal is sometimes no more than 1-2 minutes, the record is a few hours;
- protective SL and TP orders are used in trading, which pleases;
- Martingale is not used;
- EA was trading with a dynamic lot during testing. This is evident by how quickly the lot volume grew with the increase in the deposit. So, while in early trading the working lot was within 0.4-0.5, by the end of the test period it had already reached 80.0.
As for efficiency, however, the given test can be considered a dream of any trader. The maximum drawdown is less than 3.38%, while the initial deposit has increased more than 1,000 times over just a month.
But do not jump to conclusions, because testing does not account for such fact as slippage. Since the deals often close after a few seconds after the opening, the real picture may be quite different.
The Forex Trader expert advisor leaves mixed feelings. On the one hand, the test results and numerous customer reviews speak in its favor, on the other – it is not clear why there is no monitoring of real accounts: monitoring of accounts is a common phenomenon for profitable robots.
Usually in such cases, the seller doesn’t waste themselves for the rant, but simply allows you to actually see that the EA works for yourself. In our case, there is not even a bot version for demo accounts, i.e. the trader is forced to buy a pig in a poke, guided only by the customer reviews.
The test results can’t be trusted 100%, also because MT4 tester cannot account for the phenomenon of slippage, and all transactions are instant. In reality, there’s time between the query and its implementation, given that the bulk of transactions is closed within 30-40 seconds after the opening, and it is unknown how this will affect the results in the real world.
However, it does not mean that the Forex Trade expert advisor is unambiguously bad and is not worth the attention. You from the very beginning shouldn’t expect mountains and marvels after a couple of weeks of use, and clarify the algorithm of the offspring and possibly test results over a longer period with the seller before buying it.Social button for Joomla