Detailed Forex Robot Review:
Forex Fury is a robot for automated Forex trading, which was introduced relatively recently. The developers claim that this is one of the few bots that are able to guarantee 100% profitability of trading, regardless of the fundamental factors and the state of financial markets. Unfortunately, such statements often turn out to be empty, not substantiated by real facts.
Forex Fury Description:
Many users who have already managed to acquire this adviser complain about the lack of a description of the built-in algorithm, which raises a number of questions and objections.
In practice, it was possible to make sure that this Forex robot is a scalper that trades at a specific time, during the closing of the American trading session. The task of the robot is to close the transaction when receiving even a small profit of up to 5 points from a single order. To do this, set the Stop Loss (in automatic mode, the user may not engage in changing the basic settings). If the asset price does not move in the predicted direction, then the transaction is kept open long enough. Since Take Profit is set in a larger range. This is done to ensure that losing trades are not closed even with the slightest price deviation on the chart. It is worth noting that the broker’s spread size plays a big role in the final result of trading. Traditionally, a large commission on transactions eliminates any profitability in the scalping system. Therefore, choose a broker who has a minimum spread for the most volatile currency pairs.
After conducting a series of our own tests, and examining the real responses of traders using this trading system, we highlight all the advantages & disadvantages of this forex robot.
Forex Fury Pros:
- Able to work stably on many currency pairs;
- To start trading, a small initial deposit is required (it is possible to trade both on a cent account and for virtual money);
- Positive history of independent monitoring.
Forex Fury Cons:
- Lack of a clear description of the algorithms and technical indicators used (there are no signs of the full use of indicators on the chart);
- The high cost of the official version of the Forex robot;
- High risk of draining the deposit if the broker uses an increased spread.
Forex Fury Trading Strategy
Forex Fury scalping strategy is very dependent on external factors. For example, if you just leave the robot active for a period of 24 hours or more, then the probability of losing some of the funds is high. It is very important to monitor the fundamental factors that can affect the change in quotes of a currency pair in a short period of time. This adviser does not force the user to interfere with the settings. On the one hand, this is an advantage, and on the other – a disadvantage. The cost of the basic version of the robot is $ 229.99. In this case, you can purchase a version for trading in accounts with several brokers. It is estimated almost twice as expensive.
Forex Fury Trading Results
Since the development of this robot, all trading results from various types of accounts can be traced. Generally, the results of the work of the adviser are positive. On the charts from the portal Myfxbook you can`t see a significant decline, which would lead to a complete loss of the deposit. But there are always losing trades. They are the result of irrational selection of trading time. Somewhere to blame for the losses are fundamental factors.
According to the base charts, the annual yield is about 80% of the initial deposit. But with the formation of ideal conditions. Newbies in reviews often complain that the final result differs from that indicated on the developers website for the worse. Therefore, it is really worth counting on a maximum of 50% per annum.
We can`t recommend this automated robot until the developers officially describe the algorithm used. It is too risky to pay upwards of $500 (together with the initial deposit) for the trading system, which works without reason, on algorithms that nobody understands.
Overall assessment: 6/10