Forex Fancy Bot uses the most profitable strategy known to forex trader called breakout strategy. According to investopedia, the classic definition is: “Breakout trading is used by active investors to take a position within a trend’s early stages. Generally speaking, this strategy can be the starting point for major price moves, expansions in volatility and, when managed properly, can offer limited downside risk.”
Most of the times, 2 trades are open in the same direction, but with different stop loss. If the trend goes up, both of them are profitable. If it swings up and down, one of them closes for a smaller profit or loss while the other one closes for a bigger profit or loss.
This strategy is poised to be one to watch indeed. The vendors behind this one have developed Forex Pips Bag, Eurosmarter, and Forex Cleaner.
Interestingly, the robot only trades between 8-20 GMT. The vendor believes this is the best time to trade this.
Interestingly, the robot only trades between 8-20 GMT. The vendor believes this is the best time to trade this.
At time of launch there will actually be a discount for clients of the above mentioned strategies.
Let's take a look at a 13 year backtest to witness the robustness of this EA.
And the statistics are as follows:
Absolute drawdown: 356 pips
Largest profit trade: 265 pips
Largest loss trade: -96 pips
Average profit trade: 41,49 pips
Average loss trade: -20,85 pips
Maximum consecutive wins: 9
Maximum consecutive losses: 17
Average consecutive wins: 2
Average consecutive losses: 3
Average annual return/Maximum drawdown ratio: 4,1
So the risk to reward ratio is just over 2:1, which is pretty darn good.
Let's follow how this bot is doing in real time with REAL money below!
I really like strategies like this one, and I believe the vendors are really passionate about this system. It should be interesting to watch how this strategy matures over time.
