We’d like to talk about an Elite Tactics EA that’s listed on MQL5.
The EA was designed by Radek Reznicek and published on May 24, 2020. The last update was on July 23, 2020, to a 2.5 version.
From the developer profile, we know that he designed 31 products and has a high rate among other MQL5 designers (25469).
Detailed Forex Robot Review
Let’s talk about robot features, strategy, and settings:
- The robot is a fully automatic trading solution.
- It analyzes the market and opens pending orders.
- The EA doesn’t use risky strategies like Grid, Martingale, and Arbitrage.
- The system sets Stop Loss levels.
- The recommended symbol of working with is EUR/USD on the H1 time frame.
- We’re free to trade any symbol we want.
- We can use the EA on MT4 and MT5.
- The ECN account is strongly recommended.
- VPS server services are a good option to decrease execution speed.
- $1000 is a minimum for a Standard account.
- For different charts, we have to set different magic numbers.
- We can find settings for every pair on the developer’s site.
- There’s a list of settings. So, we can check them whether they fit our trading strategy.
Elite Tactics Strategy Tests
We’ve got a photoshopped backtest report of EUR/USD on the H1 time frame with Fixed Lot Size. The test used data from a sixteen-month period. The modeling quality was 99.90%. The initial deposit was $1000. The total net profit was $17.2k. A maximum drawdown was 24.19%. There were 186 trades closed. The win-rate was 97%-99%.
Real Account Trading Results
We’ve got a demo USD account on IC Markets. The robot traded automatically using technical indicators with 1:500 leverage on the MT4. This account doesn’t have a badge of verified track record. It was created on June 05, 2020, and deposited at $3000. Since then, the absolute gain has become only 2.5%. The account was stopped on July 02, 2020.
The robot closed 34 deals with 102 pips. An average win was 3.76 pips when an average loss was -22.00 pips. Longs’ win-rate was 100%. The short positions’ win-rate was 95%. An average trade length was five minutes. The Profit Factor was 4.52.
The robot worked with EUR/USD and GBP/USD with USD/JPY. The most traded and profitable symbols were EUR/USD (12 deals and $27.90) and USD/JPY (15 deals and $29.28).
The robot focused on trading European and the opening of American sessions.
There were little deals, so Friday got no one.
The robot traded with little risk to the account balance.
As we can see, the robot exited from the deals without reaching Take Profit levels.
June 2020 was a profitable month, but at the beginning of July, the EA was stopped.
The developer has many other demo accounts. So, it’s not a person who trades, risking money.
Elite Tactics costs $245. It’s available for one month’s rent for $90. The three-month rent costs $135. The half a year rent costs $170. The developer doesn’t provide a money-back guarantee.
People shared thoughts about experiencing losses and that the dev’s trading results are far from reality.
There is some positive feedback, as well.
As we can see, people traded at the same time when the demo account with the highest win-rates worked.
Some of them provided proof of lost trades.
So, the robot has a 3.5-star rating.
Elite Tactics is a weird robot. We know almost nothing about its strategy. Trading results tell us little about it as well. It looks like this is a trend scalper, but we’re not sure.
The developer used the robot for a month on the demo account, stopped it, and didn’t launch it on the real account.
People who used it at the same time experienced significant losses. So, these demo account trading results are fake.