The Comeback Kid EA is a Forex expert advisor that also functions as a trade manager. It is a fully automated system that, according to the vendor, can keep the trader profitable and generate a gain of 5-10% on a monthly basis. However, we need to conduct our own investigation to determine whether this is truly a trustworthy EA.
Detailed Forex robot review
We have a short introduction to the EA on the official website, followed by the link to a verified live trading account. There is a video explaining how the robot identifies trading positions and what strategies it uses. The vendor has also shared the pricing details and explained how the EA operates.
This is a product from American trader Ryan Brown who has been dealing in Forex pairs for the last 16 years. He has developed several Forex trading strategies over the years, as well as expert advisors like Vigorous EA, Ranger EA, and Pinpoint EA. We don’t have too much background information on this person on the people he works with and there is no contact information on the website apart from the email address.
This robot can trade in different pairs. The vendor mentions a trade recovery system that uses a combination of averaging and support and resistance zones. However, they haven’t elaborated on it, so we have no idea how it works.
According to the vendor, you should spend at least 5-10 minutes every day scanning the charts. Based on user preference, the robot can close an order of grids in profit or loss. It allows you to use different money-management settings like flex-grid, multi-order, and single order.
The Comeback Kid EA strategy tests
The Comeback Kid EA uses a combination of grid and averaging strategies, concentrating on the major support and resistance zones. It takes grid positions when it predicts the price to move in a favorable direction. The robot also has a trend trading system using which you can enter trades after there is a pullback in the trend.
Most Forex traders consider these strategies risky. Grid strategies can work against you if the market turns volatile, which is why many people tend to avoid them. Also, the profit from each transaction is not too large, and this can leave you with very little once you factor in the transaction fees.
One of the things we find disappointing about this EA is that there are no backtesting results. The vendor has not tested the system using historical data and being a relatively new software, this means the robot has not faced long periods of market drawdown. We think the lack of backtesting data is a major red flag and it would deter many individuals from investing.
Real account trading results
This is a live trading account on Myfxbook where you can see the trading results for the EA. It was launched recently on June 16, 2021, so the trading history for this robot is quite short. After placing 348 trades through this account, the EA has generated a total profit of $3868.74. The account has daily and monthly profits of 0.17% and 5.17% respectively, while the drawdown is 6.21%.
The average win and loss for this account are 98.32 pips/$38.73 and -136.33 pips/-$40.04, respectively. It has a win rate of 65% and a profit factor of 1.79.
As you can see from the recent trading history, the EA is prone to suffering consecutive losses. This is because of the risky grid-averaging strategy it uses.
The Comeback Kid EA is available at the price of $497. This is too much to pay for a robot that doesn’t have a long track record. On top of that, there is no money-back guarantee offered by the vendor.
We can tell this EA does not have a stellar reputation because there are user reviews on third-party websites. Most traders wish to know about the experience of others before investing in a system, so this comes as a major disappointment.
We cannot recommend The Comeback Kid EA because it is an overpriced EA that has been trading live for only around 2 months. Also, it uses a risky combination of grid and averaging strategies and the vendor does not have a refund policy in place.