Having seen a number of positive reviews among early adopters of the system and also being aware that the vendor has recently dropped the price of the system, we decided to check it out for ourselves. This Expert Advisor seems to have followed a progressive path of development since its release, meaning that early reviews of the system are not really a true reflection of the way in which the EA performs today.
The best insight into the strategy used is that it seems to make use of a volatility indicator which is used to signal the beginning of a trend. As the trend is confirmed additional positions are opened resulting in impressive profits when the strategy calls the direction correctly.
For those times when the trend is called incorrectly, the initial position is closed out and no further positions are opened. Because of this Forex Growth Bot does not boast of a high win rate,nor in fact does it need one. However you need to respect the fact that the typical risk reward ratio here of around 1: So two profitable systems, two very different approaches.
Forex Growth bot can be purchased in either its basic version which ties you to using the default optimised settings or the Power Source Edition up sell. This offers a range of additional parameters. While the trade parameters themselves in the basic version are likely to be fine for most users, we took the decision to make use of the assign SL and TP feature found in the Power Source edition.
This was the result of a few reports we have heard of the EA losing trade management settings if it looses connection from the broker. Not something we have experienced ourselves but certainly a recommended fail safe for just a few dollars more. Published results of the system are impressive and you can gain full access to live account results and a wealth of back tests on the vendors website.
This is a simple EA to set up and use. Limited settings in the basic version of the EA make this a pretty much plug and play solution. The strategy is optimised to run on the 15 minute chart time-frame on the EURUSD pair so there is only one chart to configure.
Both 4 and 5 digit brokers are supported. As is the case with any Expert Advisor you may experience different results depending on the broker used. Firstly it is one of the very few strategies that actually makes use of a favourable risk reward setting. This is something that stacks the odds in the favour of the strategy used from the outset. Secondly for those who like to see some trading action on their accounts, this system is happy to accommodate.
You are likely to see a trade entered most days. As mentioned above however, there does seem to be the potential for a disconnect issue causing the open trade management details to be lost. It is tempting to brand Forex Growth Bot as a flawed genius because of this issue. Ultimately however any strategy is judged by its performance and on this scroe the system excels.
Forex Growth Bot hits a few losers but when it wins, which is frequently, it wins big. This is a core fundamental of Forex trading and one so often ignored by systems and traders alike. This is real grown up trading for a pocket money price. By Malaysia pos express and free cost to Malaysia otherwise states. Delivery Time - Within Peninsular Malaysia To assure you an on-time delivery, please allow a minimum of 3 - 5 working days for items to be delivered within Peninsular Malaysia.
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