Forex Trend Hunter is present on a custom website where the developer sells the system for $55. Traders can use the robot on their accounts with a starting balance of $500. The algorithm is fully automated and comes with lifetime updates. To understand how the EA performs on a live account and to make the right purchasing decision, we will go through all the crucial points of the robot.
Detailed forex robot review
The robot is available on a custom webpage that details all the information. There are multiple headings and FAQs sections to cover all the questions about the EA. The developer tries to convince customers by presenting features, live, and backtesting results.
The developer of the product is unknown. There is no information on the topic. On the website, they only state that they have a trading experience of 12 years in the market. No portfolio is provided to confirm their statement.
The robot has the following set of features:
- It provides backtesting and live results.
- There is high slippage protection enabled.
- The robot can turn off trading when the spread is high.
- The broker protection system protects from unfair exchanges.
How does it work?
The robot works by following the steps mentioned below:
- Purchase the product from the website and provide the developer with your account number.
- Download and place the EA in the experts’ folder.
- Attach it to the charts to start trading.
Forex Trend Hunter strategy tests
Forex Trend Hunter works on EURUSD, EURJPY, GBPJPY, USDCAD, and USDJPY. It uses a trend-following approach with an advanced recovery system. From the history on Myfxbook, we know that the robot uses martingale strategy. The developer is not transparent about this on their website, which raises many questions about their credibility.
Backtesting results are available for USDJPY auto lot, where the relative drawdown was around 29.59%. The test was done on the 60 minutes chart with a starting balance of $10000. The robot tanked an average profit of $64590.29 during this period. The winning rate was 75.66%, with a profit factor of about 1.68. There were 588 trades in total, and the best trade was $4552.96, while the worst one was -$3612.24.
Live account trading results
Real trading results are tracked via Myfxbook, which has been showing performance from April 15, 2020, till the current date. Since then, the robot has had an average monthly gain of 0.55%, with a drawdown of 6.81%. The drawdown value is high, which gives us a risk-reward of 6:1. The winning rate stood at 57%, with a profit factor of 2.06. The best trade was $135.37, while the worst was -$61.88 in a total of 83 trades.
The robot can be bought for a one-time price of $55, with a license for 1 live and 2 demo accounts. There is a 60-day money-back guarantee.
There are a few customer reviews available at Forex Peace Army. One of the users states that the company is providing unlimited demos and is satisfied with the performance. We cannot conclude anything from only two statements. It is necessary that multiple users should test the system to get a general view of the community.
The use of martingale strategy makes the algorithm extremely difficult to use. Traders will have to be cautious with the implementation of such EAs as they can cause liquidation.
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