Absolute FX EA does not use any grid or martingale strategies and trades based only on price action. The algorithm is available for both MT4 and MT5 platforms and comes with multiple settings that traders can adjust according to their liking. We will list all the features of the EA in our article and go through the necessary information so that investors can make a purchase decision easily.
Vendor transparency
Aleksei Ostroborodov is the seller of the EA with a total rating of 5 for 44 reviews on the MQL5 marketplace. He has a total of 4 products and 17 signals with 109 subscribers. MQL5 dictates that the author has 4 years of experience in the financial markets, but no records or certificates prove the statement.
How Absolute FX EA works
The robot comes with the following main features:
- Traders can use manual or auto risk management
- Optimized and backtested
- There is a spread control system in place
- The trading hours can be adjusted as per wish
To install the EA, use the following steps:
- Purchase the system from the developer from the website
- Login to your MT4 or MT5 account at the platform
- Download the product from the MQL5 marketplace
- Attach the EA to charts to start trading
Timeframe, currency pairs, and deposit
The robot works with a minimum deposit of $200 and requires a leverage of 1:50. The developer does not provide any information on the instruments we can use it on.
Trading approach
The developer states that the robot uses a no-loss scalping strategy without the use of a grid and martingale. Price action, SMA, and Bollinger Bands are involved for analysis to achieve the maximum win rate. Traders can use it with a minimum deposit of $200 and a leverage of 1:50. From the history on Myfxbook records, we can observe that there is no stop loss attached with executions. Trades are closed only when they are in profit, with an average holding duration of 20 hours and 12 minutes.
Pricing and refund
The robot can be purchased for an asking price of $195. Traders have the option to rent it for three months at $30. There is no money-back guarantee as per the rules of the MQL5 marketplace.
Trading results
The developer shares the backtesting records in the form of an image where we can see that the relative drawdown was around 23.72%. With a history quality of 100%, the robot placed a total of 587 trades and had a winning rate of 99.15%. The total net profit at the end was $10715.28 for an initial deposit of $3000. The largest profitable trade was $84.75, while the loss stood at -$90.08.
Verified trading records are available on Myfxbook. We have a performance from February 25, 2021, till the current date. The system made an average monthly gain of 2.43% during the period, with a drawdown of 10.65 %.
The winning rate stood at 100%, with an unknown profit factor. The best trade was $7.1, while the worst was -$0 in 95 trades.
People say that Absolute FX EA is…
Doubtful. There are only two customer reviews present on the MQL5 marketplace. One of the traders says that they are hopeful about the performance of the EA in the future. They are currently testing it out on their account.
Verdict
Advantages
- Live tracking available
Disadvantages
- No detailed backtesting statement
- The short duration of live records
- Uses no fixed stop loss
Absolute FX EA Conclusion
Absolute FX EA does not use a fixed stop loss for positions and only closes them out when they are in profit. This can lead to a high drawdown and a poor risk-reward ratio which is evident from the live records when we contrast the monthly gains with the downside.
