Forex Growth Bot EA
Forex Growth Bot EA is easy to install, it can be running on your broker account within 5 minutes!
A lot of you should have heard of the EA already. I’ve been asked to review it numerous times and going for a look into its homepage and stats surely got my attention. So, I’ve mailed the author and promptly received a reply having a review copy attached, but I’m a little ashamed to mention that writing this post is givenfor my TODO list for more than 10 days now.
Forex Growth Bot EA Review
But enough about this, let’s get upon the case : a trend EA by definition, Forex Growth Bot takes the trader expression “cut your losses short, enable your profits run” really serious. Because it runs only on EURUSD M15 and it’s not what I might call a feature rich software, this review will likely finish up a great deal shorter than my other reviews.
There’s no description from the strategy so this merely guesswork : the entry is founded on a volatility indicator running with two different periods – once the volatility is evolving, a trend is taken into account to possess started and also the EA will open a position. Came from this level, all of the mojo lays in position management : if the marketplace goes against it, the positioning will certainly be promptly closed (at a typical loss of 30 pips ) and also the EA will await other fish to fry. If, however, the marketplace moves inside the correct direction, it starts adding towards the existing position until it reaches as much as 5 times its original size. Sure, sometimes the marketplace will retrace and also the positions won‘t always run their course, but once they flow, they achieve this nicely.
Throughout the course of that a basket of positions, the EA will occasionally close a few of them and open others and frankly I do not have clue how this mechanism works – Forex Growth Bot is really a small black box, however it works quite nicely both in backtesting and in forward testing and that’s enough for myself.
Overall, the win ratio is merely about 42%, however this is much more than compensated by the undeniable fact that the typical profit trade is much more than twice bigger than the typical loss trade. It’s the same definition of the trend-following robot and I’ve been attempting to find something such as this for like 1 yrs with little success until now.
The website states that between 3 and 10 trades are open each week, but my analysis appear to suggest a typical of greater than 1. 5 trades daily. In fact, There‘ll be periods of several days with no trade along with days with 6-7 trades, but on average it trades greater than once daily. Although author says this really is not frequent trading, I beg to differ : a minimum of when compared with other EAs I’ve checked out lately, this can be a shower of trades. As to the duration, over 78% from the trades will certainly be closed inside a day (the typical being around 12 hours ), but it’s not uncommon to discover trades lasting 1-3 days. As is that the case with most trend EAs, opening positions Isn‘t limited to any trading session and trades are just opened all around the clock when its signal conditions are met.
It’s notable the bot opens and closes its positions only in the beginning of each and every bar which it doesn‘t send a stoploss & takeprofit target with each order. The latter may be a minor advantage in case your broker’s out to help you get, however it may also be a hindrance in case your internet connection goes down or in case your VPS crashes.
As much as I will tell, Forex Growth Bot complies using the no-hedging rules, but doesn‘t adjust to the FIFO rules because a number of its positions get closed before those opened just before them but still open at that time.
When one thinks of configuration, it may easily be called lackluster. It lacks all of the bells and whistles that other EAs shower you with. All of the money management in the fundamental version consists inside a parameter that allows you to set the lot size manually. There‘s also 3 parameters for controlling the volatility settings however you shouldn’t touch those unless you would like to optimize it for a special pair and timeframe.
Talking about which, the author recommends only running it on EURUSD M15, but it could be operate on other pairs also so twenty-four hours a day experiment. The only real such endeavor that I had time for was actually a mistake : I prepared an EURUSD M5 FXT and ran it on that certain by accident ; as luck would have it, it was eventually profitable using the default settings even regarding that timeframe. I would like to add, if you undertake attempt to optimize it on other pairs, twenty-four hours a day utilize the “open prices only” method, it’ll do exactly fine given the undeniable fact that the EA only trades and closes on bar start.
Addititionally there is an advanced version (purchased separately ) that provides you admittance to more settings such being an interesting Wave Trailing (type of a trailing stop ) and much more volatility settings the manual briefly describes without giving any indication from the range you ought to use to the confident people or what‘s going to they really do when changed. It’s notable the advanced version includes a reinvest capital option, and that is some type of “advanced” money management – the lot size will certainly be increased by 0. 1 for every $4500 profit.
This brings me to position sizing. Like I said, you are able to input the amount of lots manually and also the manual states that you ought to use 0. 01 lots for balances less than $250 and 0. 1 lots for balances above $2000. However, my recommendation is to make use of less than 0. 1 for every $5000 with your account (this means 0. 02 lots per $1k ), perhaps going as low as 0. 01 lots per $1000 balance, depending in your drawdown tolerance, but I will be able to go more into this inside the backtesting section. Overall, the money management that adds 0. 1 for every $4500 profit seems quite reasonable.
Offered the chart decorations that I’ve seen in certain EAs lately, I would’ve also expected to discover a bunch of comments givenfor my screen from Forex Growth Bot, but surprisingly it’s totally silent, not just upon the chart but inside the experts log also.
As usual, I ran the backtest with an FxPro terminal. Since we’re referring to EURUSD, I set the spread to 2. 0 as well as that’s a little upon the high side nowadays. I’ve left all of the 4 parameters on the default settings, including the lotsize default of 0. 1, a little low but ideal for a starting balance of $10000.
For any trend EA, this is simply awesome. I ran it in visual mode to watch its entries and exits and it’s a significant show – if you choose it, run a visual backtest yourself, just to discover how it captures the tendancy because of progresses.
Despite its deficiency of user friendly features, Forex Growth Bot is really a really solid trend EA. It ought to easily be with your portfolio provided you can stomach periods of balance curve flatness that sometimes extend for some months and when you may also accept on account that it’s likely to be profitable despite the fact that a slightly larger section of the trades will probably be closed inside the negative. I’d dare say it’s an EA to the connoisseur, in contrast featuring its rather low price of $129.
Back then the review was written, the EA designed to allow unlimited accounts but nowadays principle license is limited to some single account.
If you want to download the forex growth bot EA mq4 version for free, below is the link:
Related Tag's :
- forex ea indir
- free Forex EA download