Hippo Trader Pro is a Forex expert advisor that works on both Metatrader 4 and Metatrader 5 trading platforms. It is based on a 17-year stress test and according to the vendor, it had an advantageous profit/drawdown ratio each year. However, we need to assess whether the robot can generate steady profits in the current market scenario.
Detailed Forex robot review
You can purchase Hippo Trader Pro on the MQL5 website, where the vendor makes a very brief presentation. We have some basic information related to the robot, along with some vendor recommendations. The vendor also shares a list of EA settings and some screenshots of backtesting results.
Hippo Trader Pro is a product from Michela Russo, an Italian trader who has a website called tradingforex.pro. According to their MQL5 profile, this trader has a total experience of 2 years. They have developed other expert advisors like Falcon Scalper Pro, Squirrel Trader Pro, Wasp Crazy Pro, Spider Crazy Pro, Bee Crazy Pro, Snake Crazy Pro, Llama Crazy Pro, Scorpion Crazy Pro, and Panther Trader Pro.
Hippo Trader Pro is a trend-following system that remains active during the European and Asian sessions. The robot trades in the EUR/USD pair for the M1 timeframe. It has the default global stop-loss set at $1000 and a starting lot size of 0.01. You can adjust your level of risk based on the lot size. Since it is not a broker-sensitive EA, you can use it with any broker you like. Although the minimum deposit is $1000, the vendor recommends starting with $3000.
Hippo Trader Pro strategy tests
Hippo Trader Pro analyzes the Forex market without the help of obsolete patterns and indicators. It looks for the principal trend and makes its entry based on the ATR filter. To forecast the future trend, it uses a trend pattern. Also, the robot identifies the trend using the Relative Vigor Index oscillator.
Here we have the results for a backtest conducted between 2003 and 2021 on the EUR/USD pair for the M1 timeframe. There were 8644 trades placed during the testing period, with Hippo Trader Pro managing to win 77% of them. It generated a total profit of $10,268,484.33 after attaining 26 maximum consecutive wins and 3 maximum consecutive losses.
The relative equity drawdown for this backtest was 26.72%, which is a bit high. When we notice such a high drawdown, we can tell that the robot uses a high-risk strategy that leaves you open to sudden large losses. The profit factor for this test was 3.82 while the Sharpe Ratio was unimpressive at 0.23.
Demo account trading results
This is a demo account for Hippo Trader Pro that was launched on June 22, 2021. Thus, it has a very short trading history which means it hasn’t been exposed to different market conditions. It has only placed 83 trades to date, winning 73% of them. The win rate is a bit low compared to the backtest.
Currently, the daily and monthly gains for this account are 0.20% and 6.07%, respectively. The drawdown of 7.97% is not as high compared to the backtesting data. At this moment, the robot has generated a total profit of 1307.30 Euros. The average win and loss for this account are 18.27 pips/€29.48 and -19.98 pips/-€22.30, respectively.
By purchasing Hippo Trader Pro, you get another EA from the same developer completely free of charge. This EA is available at a price of $299, but if you don’t wish to buy it permanently, you can rent it for 1 month at $199 and for 3 months at $269. The vendor also offers a free demo version of the system for testing purposes. Unfortunately, there is no money-back guarantee for this robot.
At this moment, there are verified user reviews for this EA on third-party websites. There are some reviews from customers on MQL5, but since they could have been manipulated by the vendor, we cannot consider them authentic. The lack of reputation is yet another reason why you should not invest in this robot.
Every Forex EA needs to have a long track record of generating live profits before we can consider it reliable and since Hippo Trader Pro has only been trading for a few months, we don’t think it’s a safe investment. Furthermore, the vendor does not offer a refund for this product, which makes it even less reliable.
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