Detailed Forex Robot Review:
Choosing an automated Forex trading robot, pay attention to built-in algorithms and strategies used. Any experienced trader wouldn’t recommend using “dummies”, that is risky advisors which trade without indicators and well-defined algorithms. Forex Kore EA is based on as many as three Forex trading strategies. This is done in order to make it multi-currency and increase stability.
Use Forex Kore EA on the Metatrader 4 trading platform. A robot is suitable for the most volatile currency pairs.
Forex Kore EA trading strategy
The main trading strategy in Forex Kore EA is familiar to many people as Grid. The principle of trading is based on determining oversold and overbought points. Identify positions for entering and exiting a trade is carried out using a number of technical indicators, among which are moving averages (MA) with different levels and Fibonacci lines. This is a traditional reseller who opens several positions at once. Fortunately, the opening takes place on the indicators, not “blindly.”
General characteristics of the advisor Forex Kore EA:
• Advisor type – network provider;
• Timeframe – M1;
• Currency pairs – multicurrency;
• Recommended deposit – from $5000 or $50 in cent equivalent.
As you have noticed, the minimum recommended deposit for this robot is too large. Therefore, we can recommend to start trading only on a cent account. Additionally, the developer has fixed the condition for brokers to have a small and set amount of spread. This behavior advisor during activity resembles a classic scalper, since trading is carried out on the M1 timeframe.
The basis of the additional strategy is the principle of studying models of graphics patterns. The developers claim that the built-in algorithms analyze the market movement and search for recurring models. Of course, in the description on the website of the sale of this forex robot, we meet such promising words as “a robot with neural programming.” But there is no artificial intelligence in such programs. This is just a basic set of triggers and conditions, upon which the deals are opened or closed.
If you analyze Forex Kore EA only on the basis of the presented trading results, it is admirable. For example, over the entire testing period, a real account shows a return of more than 2500%. And the final profit of the tester was over 300 thousand dollars. But is it worth hoping for a similar result to anyone who buys this robot?
As a measure of profitability, used a single FX Blue account. This is a service similar to Myfxbook. However, unlike the mentioned Myfxbook, it is impossible to access the expanded result of the auction.
Data is given for different testing period. For example, in 2018, the advisor spent almost 50 days under tests. And for this period, the initial deposit was increased by 120%. A drawdown was only 1.5%. As many as 85 orders were opened on average in one trading session. This is the greatest activity that we have been able to meet even among popular scalpers. From this we can conclude that the robot sells for quantity, not quality. And the entry point to each order is not as deeply defined and analyzed as we expect.
Another risk factor is related to floating spread. Most CIS dealing centers cannot offer traders without VIP status a fixed amount of commission, as implemented in Europe. Therefore, trade in short-term transactions causes concern. After all, a sharp change in the spread can neutralize any profit and lead to losses.
To get an objective result of trading, start testing this robot on a virtual account, and then go to a cent account.
Forex Kore EA Price
Like many other Forex robots, Forex Kore EA is sold by developers for $159. For this amount, you can connect one real and one demo account. As privileges, EA creators offer a quality guarantee within 60 days after purchase. But in fact, such a guarantee does not work, because the seller refers to external market factors and risks of Forex trading as such.
Perhaps Forex Kore EA deserves the attention of traders, but only after testing on a small deposit.
Overall assessment: 7/10