There’s a Leprechaun robot published on MQL5 in September 2020. The developer is Aleksei Zaitsev. The last V3.6 was uploaded on September 23, 2020.
Detailed Leprechaun Review
There’s an extended list of available features:
- Leprechaun is a system that executes a Grid strategy.
- The main direction is trading in the trend direction.
- If the direction of the trend changes, it “reverses the balance of trading positions in the trend direction and closes the whole grid of orders is a plus.”
- The main session to work with is American.
- An average trade length is several hours.
- If there is a loss occurred, the system uses Martingale to open a deal with a bigger Lot to recover after a loss.
- The system executes well during high-volatility periods.
- The same, we can say about trading during high-impact news during the American Trading session.
- It doesn’t need data from MT4 Indicators.
- It can be used on any symbol we want.
- The system doesn’t trade well during Flat market periods because a Grid strategy is a wave-based trading solution.
- It focuses on trading XAU/USD.
- The time frame is H1.
- The robot requires $100 on the deposit to start trading.
- It can be used with any broker.
- The robot is not sensitive to the level of the spread.
Leprechaun Strategy Tests
We’ve got a screenshot of the backtest from MT4, where the chart went wild. The robot traded XAU/USD on the M5 time frame for several months. The spreads were 50 pips. The initial deposit was set at $10000. The total net profit has become $5787.36. The Profit Factor was only 1.05. It’s too low for a successful trading advisor. The EA traded 388 deals. The maximum drawdown was insanely deep, 49.65%. The win-rate for Shorts was only 38.55%. For Longs, it was 81.34%.
Real Account Trading Results
Leprechaun executes orders on a real USD account on a WELTRADE broker. It works automatically using technical indicators from MT4. The leverage is 1:500. The account has a verified track record and verified trading privileges. It was created on October 12, 2020, and deposited at $15,000. Since then, the absolute gain has become +262.34%. An average monthly gain is +30.80%. The maximum drawdown is 51.55%. It’s a significant number. So, execution requires a solid level of margin to support deals on the market. We have doubts about whether the system can be used with a $100 balance for a 0.01 Lot.
The robot closed 1194 deals with 37425 pips. An average win is 1468 pips when an average loss is twice higher -2864 pips. The win-rate is 66% for Longs and 67% for Shorts. An average trade length is two days. The Profit Factor is 1.23.
There were 110,969 pips lost on the Long direction.
The robot executes deals mostly during the American trading session.
Thursday (169 deals) is the less traded day.
The system executes orders with medium risks to the account balance. To lose 10% of the account, it has to lose 10 deals only.
We can see a Grid of 20 orders. Using this system is so dangerous.
We can notice another Grid of orders floating on the market.
When running with insanely high risks, the robot could make only +1.17% of the profit in March 2021. For this kind of robot, these are almost scam-like results.
The price on the system was doubled. It was $49. There were rental options as well. We still can download a demo version of the robot to check settings and execute backtests. The vendor doesn’t provide a money-back guarantee.
We have some positive testimonials from clients.
This person is close to being right. There’s so aggressive Grid and Martingale.
Leprechaun is a trading robot that performs a Grid plus Martingale risky combo to make profits. Alas, March 2021 trading results showed that something went wrong after good results in January and February 2021.
The EA executes insanely extended Grids of orders. Opening over 20 deals in a grid is risky to the account balance.
Leave a Reply