Grey Wolf is said to be an incredible EA, and its purpose is to get you more than 25% monthly profit. The trading system only requires a minimum capital of $100 to start trading. The vendor tells us that he tested it with a $50k deposit, and it still worked fine. So, if you desire to use a larger capital, you need to increase the lots used based on your investment. For instance, a $500 deposit needs a 0.05 lot size, whereas a $2000 deposit requires you to set the lot size at 0.2.
Detailed Forex robot review
Grey Wolf has a few features, which we have listed below:
- Supports the USDCAD and AUDUSD currency pairs
- Using a VPS is advised
- Works on the M5 timeframe
- Is compatible with MT4 and MT5 accounts
This EA was invented by a developer called Alexander Oropesa Marrero who is based in Cuba. His portfolio includes other numerous systems he has developed for traders in this market. Here are some of them; Big Kangaroo, Lion Moon, Rey Toro, Last Viking, and Treasure Seeker.
Grey Wolf strategy tests
The strategy used by this EA is not known. This is because the developer doesn’t say anything about it. We are certain that seasoned traders would want to know how the robot looks for trades and the tactics it applies to ensure the placed orders will be profitable. Then they can decide whether they want to work with the approach or not. Mentioning and describing the strategy is also vital as it enables traders to gauge the kind of risks the system takes.
Backtest results are missing as well. We can never place enough emphasis upon the importance of backtesting a strategy. A well constructed test tells whether the trading idea is valid or not. It also helps identify if the approach has a persistent edge and under what conditions it will manifest. Furthermore, the simulation process should disclose the frequency of trading, both the maximum and average numbers for wins and losses, profit factor, total closed trades, net profit, winning and losing streaks, etc.
Real account trading results
The robot’s presentation doesn’t include its live trading results. This is a disadvantage. Such stats are usually important as they usually show traders how a strategy is performing in the live market. Without these results, you can’t know for sure if the EA can bring you profits and the types or levels of risks it will expose your account to.
Grey Wolf is currently priced at $95. A 1 month rent option is also available and costs $30. Unfortunately, the system doesn’t come with a money-back guarantee.
Although the presentation indicates that there’s one customer review for this robot on mql5, we noted that the said user didn’t leave any comment. Oddly enough, the developer thanks the trader for commenting.
Grey Wolf comes for an affordable price and you only need about $95 or $30 to acquire it and a minimum deposit of $100 to activate it. Unfortunately, there’s a problem. You won’t know beforehand how the EA will perform in the live market, or if it can maintain an account for a long period. This is because the vendor fails to provide any statistics showing its performance.