Gratified Long Term Day Trader is a Forex expert advisor that was launched on 11th January 2022. This robot is compatible with 14 currency pairs and works on both MT4 and MT5 trading platforms. According to the vendor, this EA is optimized to win more than it loses.
Detailed forex robot review
On the MQL5 product page, the vendor has shared the links to the live signal and the MQL5 chats group. They have also shared the detailed backtest report and explained in brief how the system functions. We also have a set of recommendations and some screenshots showing the trade setups, backtesting data, and live results.
The developer behind this system is an American national by the name of Scott Fredeman. They have a website called destroytheodds.com where they sell their automated trading systems. We don’t have any background information on this person, but their MQL5 profile tells us that they have been selling products on the website for four years. Other EAs from this developer include Midnight Blitz, Blazing Night Scalper, Aggressive Grid Sniper, and EA Monster Multiple Strategies.
The vendor states that there might be losing days with this EA. However, it recovers the losses and adds profits within two days or so. It usually has 10 or more trades open at the same time. They recommend attaching the EA to an H1 chart for the EUR/USD pair and selecting the lot size.
It can automatically trade in all the currency pairs using a single chart setup. Since it is not sensitive to spread, you can make it work with any broker of your choice. You can’t backtest the EA using MT4 since it does not support multi-currency backtesting. As such, you need to use MT5 for this purpose. Other symbols supported by the robot include AUDCAD, AUDJPY, AUDNZD, AUDUSD, EURCHF, EURNZD, GBPAUD, GBPCAD, GBPNZD, GBPUSD, NZDCAD, NZDUSD, and USDCAD.
Gratified Long Term Day Trader strategy tests
For some symbols, this EA uses a trend-following strategy and for others, it uses a counter-trend. It selects stop loss and take profit levels based on the usual volatility level of the pair. To determine the entry for each pair, it uses the Moving Averages indicator.
This backtest was conducted from 2010 to 2021 using an aggressive strategy. The EA used 0.01 lot for every $1000. It conducted a total of 6335 trades, winning 54.11% of them and generating a total profit of 95393.7 pips. The profit factor for this test was 1.22, while the daily and monthly average profits were $191.28 and $5792.22, respectively.
Real account live trading results
Unfortunately, there are no verified trading accounts for this EA on trusted third-party websites. Thus, we have no option but to analyze the unverified results on MQL5. This account was launched on 7th December 2021. After conducting 80 trades, the profitability of the robot currently stands at 60%, which can be considered healthy. The win rate is slightly lower in comparison to the backtest.
To date, the EA has generated a total profit of $191 through this account. It has a maximum drawdown of 11.7%, which tells us that it trades with low risk. On average, it conducts 16 trades per week, holding each order for six days. The account has a decent profit factor of 1.94. There have been 10 maximum consecutive wins and 5 maximum consecutive losses.
The current price of this expert advisor is $299. This makes it cheap compared to the other robots on the market. According to the vendor, the price of the EA will be raised to $499 in the future. There is a free demo version of the system that you can download for testing purposes. However, there is no money-back guarantee offer.
There are no reviews for this Forex EA on websites like Myfxbook, Quora, Trustpilot, and Forex Peace Army. On MQL5, there are a few reviews, but we cannot consider them authentic.
Gratified Long Term Day Trader is a system that is supported by verified trading results. It is a robot that supports a large number of pairs and comes at a cheap price. However, we don’t know anything about the developer behind this robot and there is no refund policy, which means your investment is not protected.