Cairo is a new Forex expert advisor that was published on the MQL5 on January 19, 2021. This EA has a fast and dynamic algorithm that promises a win rate of 99% in a historical backtest. The robot trades weekly and closes deals the same day. It can run on MT4 or MT5 platforms. Although the developer promises a high win rate and fast execution, we can’t trust him blindly. Therefore, we’ve decided to conduct a thorough and unbiased evaluation of the various system aspects. In this Cairo review, you’ll find out everything you need to know about this Forex trading system.
Detailed Forex Robot Review
This MT4/MT5 tool is sold on the MQL5 market. It was released on January 19, 2020. The current version of the system is 1,43, updated on February 15, 2021. The vendor of this EA is Ruben Octavio Gonzalez Aviles, who has already developed other EAs, including Tokyo, Miami, Kyoto, and Paris. Frankly saying, all the presentations of his products look the same. Example: Paris and Cairo presentations. Both of them have a copy-pasted text.
The dev has provided us with a brief overview of what the system is and how it works, along with the best recommendations that should help us get the most out of it. Ruben Octavio Gonzalez Aviles has also added a list of input parameters that we can use to adjust the EA to suit our trading style.
The key features of this EA are:
- The EA trades weekly. It opens multiple trades that are mostly closed on the same day they are opened
- The system does not use any trading approaches like martingale, smart recovery, grid trading, or averaging
- A recommended broker is VantageFX
- There is MT4 and MT5 versions of this EA
- An active Telegram group is maintained for this robot. Users can share their trading experience with other traders as well as follow the latest market developments there (it’s a common Telegram group for all the robots developed by Ruben)
- Every trade is protected with fixed Stop Loss and Take Profit. Traders also have an option to modify them
- The dev recommends trading with default settings for better trading results
- Only 1 trade is conducted at a time
- Although the robot can be used for trading various currency pairs, the vendor claims that the robot trades best on the EUR.USD currency
- It can work on any timeframe
- The EA has a dynamic feature that ‘sets the lot size based on the current balance’
Cairo Strategy Tests
Although the vendor claims that the robot does not use any risky or dangerous trading strategies, he fails to provide a detailed explanation of the trading strategy the Cairo robot applies. It is disappointing. Lack of transparency is not a good sign for this EA.
The dev has provided us with separate backtesting results for the dynamic and static modes.
It is a Cairo Static mode backtest with a history quality of 99%. The backtest started in 2016 and ended in 2020. With an initial deposit of $500, a total net profit of $10 400, 80 was generated. There were 31368 bars in the test. The robot traded 540 trades and won 539 out of them. Here you can see that the win rate was quite high at 99.81%. The profit factor was 897, 62. The relative equity and balance drawdowns were 25,41% and 0.11%, respectively. The win rate for Short positions was 100% when the win rate for Long positions was 99.67%. There was only 1 consecutive loss ($-11, 60).
Live Account Trading Results
The dev provides life performance trading results for Cairo EA. The account was launched on mql5 on March 1, 2021. The robot trades with 1:100 leverage. Deposited initially at $100, the robot could generate $59.89 of profit. Its total growth is 59, 89%. The maximum drawdown is 16.4%.
The signal monthly price is $199. It’s too much. Most of the signals on mql5 cost $50-$100/month. Although this trading account was created at the beginning of March 2021, the trading history of this EA equals 18 days (37, 50% of the total days live). An average trade length is 6 hours. The robot trades 2 trades per week. The latest trade was 3 days ago.
As you can see, March trading results differ from those achieved in February or April 2021. The robot used a risky trading approach to get 46, 15% of the monthly gain.
The robot traded 21 trades and all of them were closed with profits. The profit factor is 19, 15. The average win result is 3, 01 USD. Its average monthly growth is high and equals 29, 71%. The robot closed 17 deals in the Short direction and 4 deals in the Long direction. The maximum deposit load is 81.42%. It sets this trading account at a high risk of getting a margin call.
The robot is sold on mql5 for $399. A one-month rental option is also available for $249. Interested in the system traders can test the robot on a free Demo account.
The dev wants us to know that only 2 copies of this EA are left for this price. The next 10 copies of Cairo EA will be sold for $499. A money-back guarantee is not included.
Cairo has a high 4,5 out of 5-star rating based on 15 customer reviews. People are satisfied with the trading performance of this EA.
The robot is too young to say something for sure. Nevertheless, this robot shows potential. Although the dev failed to provide trading strategy details, we’ve found that Cairo applies a risky approach for trading.
The robot does not come with a money-back guarantee. Moreover, pricing is too high and constantly grows. So, it’s your choice to invest in this EA or not. As for us, we’ll monitor the trading performance of this robot for the next 3 months.
It will help us to gather much information about the reliability and accuracy of this trading system.
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